RE: Hive Today - September 12th, 2020

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(Edited)

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Great stuff! Thanks for all the information!

Just a small suggestion...

Rewards for this post will be burned.

This can scare people who don't understand what's going on... Maybe you can put in the post that AUTHOR rewards are burned, as newbie people can think that they will lose curation rewards if they upvote... ;)



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Yes, that's such a good suggestion @Ph1102 cause my understanding of 'burning' rewards is very limited, but I think it means...wasting them, like throwing them in the garbage...Is that right? and if so why? Why would you burn money?

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As I understand, burning money is an opposite of printing money... When you print money, you have more of them in the circulation, and the value of it is dropping after every next printing (which is happening at these moments in the world of the USD, EUR and other FIAT currencies)

Burning is the opposite... You burn (delete, throw in the garbage) amount of tokens (money) and lowering the circulation and make the REST of the money more valuable...

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Yep, exactly this. Burning reduces supply.

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(Edited)

Thank you so much! See, I'm in Australia and we have a LOT of bushfires, so burning something is not usually a good thing here...lol...Especially when it's a snag on the barby (sausage on the BBQ..lol...) or $$$$...😅

And my dad was shocking for burning the snags on the barby. And mum was shocking for burning through the $$$ shopping......🤣

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Thank you so much for clarifying that for me, I really appreciate it!

So now when I see 'burning' written down, I won't be so worried about it, as in the end it's a good thing. Even though it still sounds really bad....lol...🙃

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