HBIT Hivebits quarter report

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 - https://peakd.com/hbit/@hivebits/hbit-hivebits-quarter-report-q3-2023
Quarter 2 2023 - https://peakd.com/hive-159259/@hivebits/hbit-hivebits-quarter-report-q2-2023
Quarter 1 2023 - https://hive.blog/hbit/@hivebits/hbit-hivebits-quarter-report-q1-2023
Quarter 4 2022 - https://hive.blog/hbit/@hivebits/quarter-report
Quarter 3 2022 - https://peakd.com/hive-159259/@hivebits/quarter-3-report-2022
Quarter 2 2022 - https://peakd.com/hive-159259/@hivebits/quarter-2-report-2022
The introduction post is here and the "About" post is here.

Numbers

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...

1. 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.
2. 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.
3. 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.

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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!

_{Source: leonardo.ai using prompt "hivebits cryptocurrency token two years old birthday party"}

written by @crrdlx

_{HBIT whale badge awarded to the top 25 HBIT holders.}

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• Check your wallet or trade HBIT at: TribalDEX
• Connect to HBIT: Discord, Sting, Matrix, Telegram
• HBIT creator: @crrdlx

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_{Not on Hive? The top benefits of the Hive blockchain: (1) no ONE person/group runs it, (2) YOU own and control your content, and (3) YOU earn the rewards that your content generates. Learn more or consider using my referral link to get your free account here and I'll support you as you begin. Alternately, you can see other options here.}