Hivebits (HBIT) is a token on Hive-Engine, a sidechain to the Hive blockchain. HBIT is about slowly getting little bits of Hive. It began 01/01/2022. Starting 09/10/2022, HBIT integrated with @Wusang for the Wusang: Isle of Blaq game. The only changes:
- Now, you might get a bonus treasure token! 😉
Hivebits basics
@Hivebits blends Hive's blockchain with the ethos of Bitcoin.
- It runs and lives on Hive and on Hive's "layer 2" sidechain, Hive-Engine.
- It is like Bitcoin in that it's released by mining and there are 21 million max, split down to 8 decimals.
Bitcoin is mined by effort, by "proof-of-work". Similarly, HBIT is mined by effort, call it "proof-of-comment" or "proof-of-effort." Your effort yields your reward. HBIT can be "mined" simply by commenting anywhere on the Hive blockchain (except to this source account of @hivebits) by typing one of the HBIT commands: !hivebits or !HBIT or !hbit or $HBIT. Any of these will work.
Note: the "!" command must include 3 or fewer "!" command, else your HBIT will be skipped.
You might wish to make your own "HBIT-Wusang post" dedicated to mining Hivebits and searching for Wusang tokens. You could reply to that post each day. Your mined tokens will show up in your Hive-Engine wallet.
Understand, the intent is one HBIT per person per day, not one HBIT per username per day. No farming with alt names. Remember, everything on a public blockchain is public and visible. I don't wish to block anyone, so please do not abuse HBIT.
To mine HBIT, only two things are required:
- A Hive account. (Need one? Get one here: https://crrdlx.vercel.app/hive-vip-ticket.html)
- You must post/comment/reply on the Hive blockchain with one of the following commands:
!hivebitsor!HBITor!hbitor$HBITor!WUSANGor!wusangalong with anything else you wish to say.
A few rules:
- One per day (more won't go through)
- Don't include a bunch of other "!" commands in your reply (HBIT won't go through)
Notes when mining Hivebits/HBIT...
- 0.9 HBIT is sent to the person who invokes the command (you).
- 0.1 HBIT goes to the person being replied to as a small tip. (If replying to yourself, you'll get the full 1.0 HBIT.)
- You might find a bonus treasure token, such as BLAQ as part of the Wusang: Isle of Blaq game. See @wusang for details on these bonus tokens.
Simple.
If you don't have a Hive account already, it's easy. You can use my referral link at https://crrdlx.vercel.app/hive-vip-ticket.html and I will support you as you start out. Or, go to the main Hive.io site to learn about Hive or sign up using one of the options.
Hivebits details
- Max supply: 21 million
- Decimal precision: 8
Background
I started the @LUVshares project as a comment-based tip/engagement/appreciation token with the intent of sharing love with others on the Hive chain. It seems to have been well-received. In time, it became clear that some users were issuing LUV to themselves using alternate accounts. They were self-tipping. Although the engagement is appreciated, LUV's goal is to give to others.
Enter HBIT. Here, a Hive user can mine for one's self. This is actually the exact intent of Hivebits: Your effort, your reward.
It's worth noting: within a 24 hour period, the intent for HBIT mining is per-person, not per-username. If users are suspected of abusing this, they'll be contacted and possibly blocked.
How it works
HBIT is a comment-based token similar to others on Hive, like LUV. However, HBIT works differently...
- Tip/engagement tokens such as LUV award a token to the person being replied to in the comment. LUV is a comment-tip token because the repliee gets the token.
- HBIT awards 90% of the token to the person typing the command
!HBIT(or another HBIT command), and only 10% for the person being replied to. HBIT is a comment-mine token because the replier gets most of the token.
The replier/miner can get 100% simply by replying to himself or herself. Don't feel selfish if you do this...this is the original intent of HBIT. Your effort, your reward.
The !HBIT (or another HBIT command) command should work anywhere on Hive EXCEPT in response to the @hivebits account. If you wish to test or mine HBIT, I (@crrdlx) set up the @hivebits.mine account just for this purpose. Respond there with the code and it should work. Realize, the response saying, "You got HBIT" is sometimes turned off to conserve Resource Credits (RCs). You still got HBIT.
If you are in the top 25 of HBIT holders, you're a Hivebits whale.
Check the HBIT richlist at https://he.dtools.dev/richlist/HBIT.
And as a whale...you should have a PeakD badge on your profile. If you don't, please reach out to @crrdlx and that'll happen.
Monitor HBIT
If you're wondering, "Where's my HBIT?", you can monitor your HBIT status in your H-E wallet, using an H-E explorer (option A or option B), or by viewing the hbit-log on Discord (best for real-time).
No Spam
When HBIT notifications are turned on a confirmation reply is received essentially saying, "You got HBIT." The person you are replying to also gets notified by your comment. Please be mindful to not spam other users. A Hivebits command in response to another person should be part of a genuine response, or with someone whom you connect regularly. They will get a small bit of HBIT which might be considered a "royalty" for writing the post that's being replied to. Still, remember that they did not ask for this and remember that they will get a ping notification. Please be mindful of this.
Best Practice
You may eventually wish to make your own post/page dedicated specifically for HBIT mining. For instance, you might make something like a post called, "My HBIT mine". There, you could comment and earn 100% of the HBIT without anyone else receiving notifications.
HBIT is all about slow-and-steady persistence. It's about getting on chain, exerting a little effort, then gaining little bits of Hive. Like your morning coffee...daily Hivebits, daily HBIT.
Value and use
"What's it worth?", you ask. I don't know. The value of HBIT will be determined by the open-and-free market. That's how value works.
The market is at https://hive-engine.com/trade/HBIT I also made some value checker tools: HEconverter and HiveTipTokens to help answer questions like, "How much is it worth right now?"
Got HBIT?
Hivebits started Jan. 1, 2022 with a "fair launch." By this, I mean that everyone started out with zero HBIT and everyone will have the same opportunity to earn HBIT via mining. See details on the HBIT introduction post.
There are only three ways HBIT can be obtained: (a) mine it, or (b) receive it as a gift after someone else has mined it, or (c) buy it on the open market after someone else has mined it. The @Hivebits account will not sell or give HBIT. The account exists solely to distribute the token. Thus, behind every HBIT, or small bit of HBIT, there has been someone's conscious effort and activity on the Hive blockchain. If nothing else, HBIT is backed by this fact.
Once in users' wallets, HBIT can be held, given, or sold. "Price discovery" on the market will reveal the HBIT value.
Possible use-cases for HBIT are:
- Activity. HBIT encourages users to go beyond reading/scrolling and to engage.
- Attract. The sheer simplicity of mining HBIT may be attractive to new users because it is a very easy way to gain a token. Why not reach out on other social media, or even better, personally invite a friend right now to join Hive?
- Fun. Doing something and getting a quick reward is fun. Also, some sort of randomization in mining may come in the future. Imagine opening an oyster, sometimes there's nothing inside, but sometimes there's a pearl! Either way, checking the oyster is always fun.
- Learn. HBIT would be a great way to learn about trading. It is easy to earn HBIT and it can easily be traded on the H-E market. For anyone who may not feel comfortable with buy orders and sell orders, reading candlestick charts, market depths and volumes, etc., HBIT offers a simple way to practice and learn with very little risk involved.
- Spend. Perhaps in the future users could pay-with-HBIT using tools like HivePay. I'd love to see a sale where HBIT is the medium-of-exchange...and HBIT "Pizza Day" event.
- Other. Perhaps use cases will emerge. Perhaps Hive users will have ideas (I'd like to hear). Perhaps Hive users will build use cases on their own.
- Earn. You'll earn HBIT when you mine. The name "Hivebits" suggests little "bits of Hive". The name can also suggest Hive-to-Bitcoin, actual HIVE-to-BTC by leap-frogging along. It's a process, but it could work as follows:
You mine HBIT. On the Hive-Engine market, you sell HBIT to gain SWAP.HIVE You withdraw the SWAP.HIVE to get HIVE. On a market with a HIVE/BTC pairing, you sell HIVE to gain BTC. It would be very small, but boom!...HBIT-to-BTC. Hive-to-Bitcoin.
Misc.
Issuance/minting and emission: see the HBIT introduction post. But, the bottom line: HBIT is released only when a Hive user consciously mines it with the command...every HBIT is backed by someone's effort.
A disclaimer: there are no guarantees with HBIT in any way. Consider this entertainment. Regarding the bot, I'll try to keep it running, however I'm sure there will be down times. Also, my primary focus will be to maintain LUV.
Follow this account and/or join the Discord at https://discord.gg/K5GvNhcPqR to keep up.
Summary
HBIT is a token on the Hive-Engine sidechain to Hive. Users on the Hive blockchain can mine HBIT daily simply by commenting with the command: !HBIT or !hbit or !hivebits
written by @crrdlx
:)
Hivebits (LUVshares) Discord: https://discord.gg/K5GvNhcPqR
Hivebits creator: @crrdlx
Not on Hive yet? The top benefits of the Hive blockchain:
- YOU control your account. Another person, group, or corporation cannot censor/block/ban or de-platform you at their whim.
- YOU own your content and YOU earn the rewards that YOUR content generates. Ask yourself, "Who earns when I post great content on the old social media outlets?"
Join Hive.
Consider using my referral link to get your free Hive account here and I'll support you as you start. Alternately, go to https://signup.hive.io/ and choose an option.
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