Are you worried about SPORTS tokens falling price? BURN some of them!
The token economy is stark and recurring. A new token comes out, you get something in the airdrop or as one of the first users, and....you stake your tokens or sell those. Most of the time, the sooner you sell the tokens, the more STEEM you will get from them. So why not get rid of them, right? Good point, because most of the tokens will fall with their price!
But this may change if there is a big demand for a token because of its intrinsic value. For example, Q token from @qurator, which sends STEEM dividend holders, is quite unique. And those who jumped on the train early got it for 1 STEEM per 1 Q. Where is the price now? Somewhere between 2.4 - 3 STEEM, most of the time.
But not all of the tokens are that wanted and profitable. The price of most tokens drops over time, people get them on call for free (BEER, COFFEE, TRDO) and then get rid of them.
SportsTalkSocial.com and its SPORTS token
As some of you know, I really like this tribe. But also its price begins to decrease, the predominance of sellers is visible. But there is a chance that this could stop and turn around, with your help!
But how to make the token scarce? Burn them!
Just as the Binance exchange started this model with their BNB tokens, coin burning logically reduces their number in circulation, thereby reducing the předominance of the token supply.
How to do it?
Promote your article with @sportsvoter bid bot with up to 10,000 SPORTS and you will do something for SPORTS token and also for your profit.
You have two options here:
- Send your SPORTS tokens using https://steem-engine.com to the @sportsvoter account and put your article link to the memo
- Go to https://steembottracker.com/ and use the @sportsvoter bid bot.
Step 1: This is how you send your SPORTS tokens to @sportsvoter
Step 2
What will happen then? Your article will be upvoted and you will receive SP + STEEM + SBD. The reward ratio is between 0-20%, so you will not lose anything, you can only profit. And you will profit twice because your other SPORTS tokens (maybe the staked ones) will not lose their value.
Maybe the tribe needs to find another way to burn this token.
You are right. Or they might give people more information about this one. Economy is important here,it can very easily disattract the users.
I agree with you @chesatochi . It's not the best way
Hi @ritxi
Current tribes (PAL,LEO etc) economy seem to be broken. Instead of building their community with a slower motion, but only inviting valuable users and airdroping to well targeted audience ... almost everyone received airdroped tokens.
That could only end up in growing selling pressure.
Indeed. But it's not job of any user or investor to burn tokens. We're not buying them to burn them. It has to be job of developers to create 'sinks', that would actually give people some value for burning those tokens.
I kind of lost you here. What would be advantage of promoting with @sportsvoter? What would users receive in return? From what I've learned he would only got some upvotes (SP+STEEM+SBD) which may not be enough to cover cost of this promotion, right?
ps. I wonder what i Q business model. Any idea? Perhaps you know where can I find some info about this token?
upvote on the way :)
Yours, Piotr
Hi @crypto.piotr, thanx for your reply. Actually, the return cover cost of the promotion + give 0-20% extra, so it's worth. But a good point is that this is just one solution and not done by the development (as I think) and the tokens economy seems to be really broken. Well, hope that it will change.
About Q tokens, check this article, I think its one of the worthy tokens.
About @qurator I wrote a few months ago here, while the rules might be a bit changed due to the time.
ritxi
Hey mate. The tokens sent to use for promotion are burned.
Thanks for information @ritxi ...
You are welcome, its actually not my idea, but I think its good to spread this more and more.
More ways of burning sports should be devised so that the process can be fast.. Remember the supply of token is outrageous
That is right and check the overwhelming supply in the order book, this doesn´t look nice.
Hi ! Thank You for your efforts !
I wrote it in several posts/blogs and i never got an answer until now
@patrickulrich ?
I CANNOT FIND THE VOTER ON THE STEEM BOT TRACKER SITE .... since several days
Look at my screenshot:
It's not there!
And sorry, but i don't trust the other option .... just sending tokens to an address .... without feedback
But anyway! Thank You for your post and efforts !
(I'll crosspost that answer in your blog)
Best wishes !
You'll need to change the slider "Vote Value" from the default $5 down to $1 or less. By default SteemBotTracker hides bots who's value are below this threshold.
OH !! Sorry .... stupid me. Never seen that slider :-/
Thank You for your help !
!trdo
Congratulations @jjprac, you are successfuly trended the post that shared by @ritxi!
@ritxi got 6 TRDO & @jjprac got 4 TRDO!
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This post has received a 3.13 % upvote from @drotto thanks to: @sbi-booster.
Thanks for the entry and sharing your idea.:D
Upvote by @aclcrypto2 donor-account