Burning on the Backside

HIVE will fall until it finds a bottom. That is just the way things work.

The best thing that HIVE authors can do at this time is to write and upvote burn posts. The burn posts will reduce the amount of liquid rewards hitting the street in seven days time which might help rise the depth of the bottom.

You can write a burn post on PeakD by selecting "Burn" for the "Rewards Distribution" prompt in the "Advanced" options section of PeakD. This option is only available in some of the HIVE interfaces.

As I understand the burn option will only burn the author portion of the rewards.

Since burn posts burn the author rewards, I believe that this is okay to include multiple coins in a burn post. I added six coins to this post.

I don't know how the burn affects the alt coins. Most of the coins use SCOTBOT. Some of the coins use their own custom code for distribution.

One of my frustrations with HIVE is that we do not have documentation that explains the details of the operation. Of course code is king. Users have to figure things out by trial and error.

If you write a #burn post and receive coins for it, you should be a good netizen and burn the rewards.

"burn posts" can be a big scam. A post might "burn" the leo rewards ... but secretly keep the HIVE rewards.

Personally, I would only upvote burn posts that show the little burn icon next to the rewards section on in PeakD. This link shows Burn Post on PeakD.

I am not sure how upvoting burn posts affect curation rewards. I believe that the action only affects the author's side of the upvote and not the curator. Does anyone know the answer to this burning question?

Code is king. The users have to figure things out by trial and error.

Lets Burn It All

I would love to see a dozen burn posts today.

Publishing burn posts when HIVE is falling can help the system find its bottom because the burn posts will reduce the liquid HIVE hitting the streets in seven days time.

The power down feature means that there will always be a seven day lag in the response to market events. So we always have to wait a week to see how a major move in the market affects the day to day users.

If you are looking for something to write today, I suggest dropping a burn post. They have a beneficial affect of reducing the float of each of the coins.