RE: Weekly News Update (January 2021 - Week 2)

over 3 years ago

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Initially, faced with the question of how to deal with bought-back tokens, I figured it best to place them for sale again so that someone else could join and they’d remain in circulation

I guess this is a good idea up to a point. Since the project is going nowhere it would be nice if you just had them burned. But would wait for it some time more.

It would be wise to set buy offers at lower prices as well.

I'm happy you followed my suggestion about LBI, it will be beneficial in long term.

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5 comments

@solairitas 64

over 3 years ago

I wouldn't say the Project is going nowhere, it's growing all the time, just slowly. I had hoped that eventually 10,000 people (max, give or take) would throw in $20-$30 (some more, some less)...that would get us close to budget, but it seems, so far, that around fifty people want to see a return from throwing in a dollar or two, can't buy too many solar panels with that.

Even so, the time to break even is around 40 posts (at 50% vote) not counting any of the token curation, which isn’t bad considering we’re still in the initial phase of building HP.

100,000 tokens ultimately represents a 100% upvote and so none will ever be burned (at least by me). Burning tokens simply demonstrates a failure to properly consider supply.

Time will tell if LBI was worth it. So far, not so much, but the Project is meant to be here long term.

!BEER

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@jocieprosza 66

over 3 years ago

I understand, and this is why I am also sticking to the project and keep on advertising it to people around me. I know the project is growing despite mediocre demand.
The issue is that bigger players are reluctant because of possible downvotes because of 'paid' autovote service. They are behaving like those big corporations that don't want to offend anyone.