The big picture of HBIT
Hivebits was born on 1/1/2022 and came after its big sister, LUV. Whereas LUV is about giving to others and expecting nothing in return, HBIT is about your effort earning you a reward. It follows the proof-of-work concept that bitcoin established...if you put in the effort, you earn something in return. So, the only way an HBIT gets into a wallet is by someone's purposeful effort, somewhere, at some point on the Hive blockchain. This makes HBIT different.
The intent is to keep Hivebits/HBIT easily available to everyone. To "mine" HBIT, all that is needed is (1.) a Hive account and (2.) to use a command such as !HBIT posted on the Hive blockchain. Simple, your effort, your reward.
Since 9/10/2022, HBIT has been integrated into Wusang: Isle of Blaq. WUSANG is the World's Ultra Simple Asset Numbers Game.
Prior reports:
Quarter 3 2023 - @hivebits/hbit-hivebits-quarter-report-q3-2023
Quarter 2 2023 - @hivebits/hbit-hivebits-quarter-report-q2-2023
Quarter 1 2023 - @hivebits/hbit-hivebits-quarter-report-q1-2023
Quarter 4 2022 - @hivebits/quarter-report
Quarter 3 2022 - @hivebits/quarter-3-report-2022
Quarter 2 2022 - @hivebits/quarter-2-report-2022
The introduction post is here and the "About" post is here.
Numbers
| Category | Amount | Note |
|---|---|---|
| Ave. daily HBIT emitted | 88 (98 last qtr) | See Graph 1 below. |
| 30 day ave. emitted | 14 (86 last qtr) | See Graph 1. |
| Current circulating supply | 70,000 (70,000 last qtr) | See Graph 2. There are currently 64,465 HBIT in the wild and 5,535 held by @Hivebits waiting to be mined. |
| Wallets that have held HBIT | 4,026 (3,991 last qtr) | |
| Wallets holding > 0 HBIT | 3,203 (3,260 last qtr) | |
| HBIT Whales | 25 | HBIT whales are those in the top 25 of HBIT holders. See richlist here. HBIT badge account: @badge-126842. If you feel you should be a whale, please contact @crrdlx. |
| Current Whale-of-Whales | @good.price | 2nd and 3rd HBIT whales are @hannes-stoffel and @fjworld. Check your status on the HBIT richlist. |
| % HBIT emitted without effort | 0% | Every HBIT represents some amount of work. |
| % HBIT released due to users' effort: | 100% | Every HBIT represents someones purposeful effort on the Hive blockchain. |
Graph 1 - HBIT emissions
Hivebits shared via the HBITbot.
Graph 2 - circulating supply
The circulating supply of HBIT. This is the amount of HBIT minted, but not necessarily in circulation. Most tokens are in Hive wallets, except for those in the @Hivebits account which are on standby waiting to be released when a Hive user calls the HBITbot.
Quick hits
- Between late October and December, Hivebits/HBIT was down. Something happened and the bot was dead. After about two months and a lot of head banging, it was up and running again. You can read details at the blog of @crrdlx.
- The graphs and numbers above reflect this outage clearly. Since the main premise of HBIT is that it is only emitted into the wild via someone's effort, zero were released during the downtime.
- As a note, I'd personally caution against merely glancing at the graphs trending downward and concluding, "Ohh, that's bad." I would disagree for a few reasons...
- The large spike in HBIT's early history may look positive, but it was due largely to token mining by bad actors farming Hivebits. It's a false increase in my mind.
- The zero emission during the downtime reflects the premise of HBIT: it only gets released when it is mined. This rule is hard and fast.
- Less emission means greater scarcity and that's always a good thing for holders.
Notably, the @Wusang game is still not up-and-running. That will take a bit more finagling on my part. I hope to get it going again and tied back into HBIT in the future. The 50/50 randomness of maybe getting a bonus "treasure token" simply added a layer of fun to Hivebits mining. I'll work on it.
Different
I feel Hivebits/HBIT is different from many tokens and feel this point is worth emphasizing...
Every single HBIT that in someone's wallet exists because someone actually put in conscious effort to mine that coin. Every single one. Zero were airdropped. Zero were given away. Zero were earned through rewards or staking or interest without someone first mining that HBIT. If an HBIT is "out in the wild," it's there because someone took the purposeful effort to dig it out. Just as bitcoin is backed by the code and the work required to mine it, HBIT is backed by the effort required to earn it as well.
Looking forward
The goals are simple: keep HBIT going and try to get Wusang working.
Wusang richlist
Like when HBIT was down, Wusang currently is emitting zero tokens. Emission down; scarcity up. Consider those tokens lying on the Isle of Blaq, somewhere, but no one can find them!
For fun, let's check the Wusang tokens richlist:
- BLAQ - #1 is @fjworld and #2 is @szejq. and #3 is @good.price Check your status here.
- BLAQGOLD - #1 is @fjworld and #2 is @calendars and #3 is @szejq. Check your status here.
- BLAQEMRLD - #1 is f@jworld and #2 is @good.price and #3 is @calendars. Check your status here.
Summary and final thoughts
Keep mining Hivebits/HBIT...one per person per day.
And, oh, since today is Jan. 1, it is @Hivebits second birthday! 😀 Happy birthday and happy new year!
written by @crrdlx
- Check your wallet or trade HBIT at: TribalDEX
- Connect to HBIT: Discord, Sting, Matrix, Telegram
- HBIT creator: @crrdlx
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