Don't Sell Yours Tribe Tokens - Use It To Buy Votes - Burn It - Keep Supply Low And Price High

gerber (63) in palnet • 5 years ago (edited)

I can see plenty of people are just selling tribe tokens, and moving the price down.
That way by selling your tribe profits one day u can bring the price to 0.01 steem or less.
Then your profits and stake will be worth almost nothing...

Maybe some of you don't know, that u can exchange your tokens for steem votes.
So instead of selling for steem u can get even more in steem upvote.
That way portion of tribe tokens are burned, and a portion goes to SP delegators.
As tokens are burned, supply is lower and token value in the long term going up.

U can also buy tribe tokens and use it for votes, instead of other steem bidding bots. SUPPORT TRIBES :)

How to do it?
It's very easy. Just send tokens to a voting account with a link to your post in memo.
Posts cannot be older than 3.5 days.

Here u have tribe bots I am personally using on my posts:

PALnet
@minnowsupport

SteemLEO
@leo.voter

Neoxian.City ( NeoxAG )
@neoxiancityvb

stemgeeks ( STEM )
@stembot

img source: pixabay

palnet steemleo neoxian burn tribes

5 years ago by gerber (63)

$5.71

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chekohler (70) · 5 years ago

I think it would be awesome if this feature was built into tribal front ends with like a "boost" button on any qualifying post yours or someone else and it would just push you to make the transfer. Making it part fo the experience will encourage more people to burn

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3 votes

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cryptictruth (62) · 5 years ago

That’s a great idea.

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r0nd0n (63) · 5 years ago

I like the idea of having it built in the front end, but as far as the PAL token goes (not sure about others), the vote rewards are only steem, so it wouldn't "boost" anything on the palnet front end. The promoted feature is built in to the front end, and does burn 100% of the tokens as well as put posts in the trending/hot/promoted tabs to gain visibility, so maybe what you're talking about already exists?

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chekohler (70) · 5 years ago

You make a good point there, perhaps maybe the call to action of boost isn’t the right one! Perhaps reward? Reward an author by burning tokens

Posted using Partiko iOS

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onealfa (74) · 5 years ago

I support this idea. However the big problem is - there are so many variuos tribes (tokens), and only small part of them support this feature (trade fir upvotes)

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1 vote

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doitvoluntarily (77) · 5 years ago

thanks for posting this information, didn't know they were taking tokens now

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2 votes

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gerber (63) · 5 years ago

these tribe bots are still very limited (low sp) max u can get is around 2$ vote from minnowsupport bot, and 1$ from Leo bot.

$0.03

2 votes

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letshodl (63) · 5 years ago

We need more ways to burn!

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1 vote

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gerber (63) · 5 years ago

for sure, ratio daily burned to printed is very low like 1-2% on average. And bots can't even handle huge amounts to burn ( low SP )

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cryptkeeper17 (64) · 5 years ago

Right on @gerber. I used the promote option to a post and got the post to the top trending post, for not as much neoxian tokens you would think. Could've sold them, but enjoyed the eyeballs that it drew.