It is great to see people burning HIVE.

I don't know if we can burn ourselves out of debt. The HBD interest rate is still an absurdly high 14%. The system is generating about $100,000 a month in HBD interest.

At $0.057 this converts to about 17 million HIVE.

Note HBD is recorded as virtual HIVE. The conversion process turns it into HIVE which then gets dumped on the market. The stupidly high interest is the thing recessing the price of HIVE. This interest does not provide any benefit to the regular users of HIVE.

Burning destroys author rewards. It reduces the money hive authors receive. They really aren't overpaid, but the rich HBD holders are.