Feel The Burn! ATOM Now Gets Burned When UpVotes Requested

musicvoter (66) in palnet • 5 years ago (edited)

"Burning" tokens is a concept used by many crypto currency providers to reduce the supply and therefore increase the scarcity.

Now that the ATOM token has been in circulation for some time we are going to start doing this ourselves. Initially all ATOM tokens used to request upvotes from @musicvoter2 will be burned. This is done by sending the tokens to @null.

As you can see the "Circulating" number is starting to decrease as we do this.

We will also look to do larger, one off burns at ad hoc times probably starting with the end of the year. The initial feeling was that we would issue one million additional tokens each year for 10 years and any tokens left in our accounts at the end of each year would be burned.

As anyone can earn ATOM tokens listening to music on AtomCollectorRecords.com the number of tokens left at the end of each year will depend on how popular the website becomes.

If by some miracle we end up with people collectively requesting more than 1 million tokens in one year then we would look to reduce the listening reward to 0.1 ATOM per track instead of the current 1.

Join us in Discord to get support for your music.

ACCOUNT STATISTICS UPDATE

MusicVoter

Support independent musicians by joining the curation trail here.

MusicVoter2

Earn ATOM tokens listening to music on AtomCollectorRecords.com and use them to get upvotes for music related posts with @MusicVoter2.

Use your ATOM tokens to request an upvote in our Discord.

Steem Engine Staked Coins

Whaleshares

38,729 Whalestake
89 Tip Jar (you can now use ATOM to request tips for music related posts in our Discord).

AtomCollectorRecords.com Update

4780 members

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Please use our referral link to receive some free BAT to use to support your favourite content providers.

You'll even be able to earn BAT by viewing ads if you choose to do so.

AtomCollectorRecords.com helps independent musicians in multiple ways:

Get more fans by adding your music to AtomCollectorRecords.com
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Earn tickets to the weekly prize draw listening to music where you can win crypto prizes!

You can sign up even if you are not a musician and still earn by following the instructions in the box on the main music player page.

Posted from my blog with SteemPress : https://www.atomcollectorrecords.com/blog/2019/11/02/feel-the-burn-atom-now-gets-burned-when-upvotes-requested/

palnet creativecoin music atomcollector cc sonicgroove marlians talentclub neoxian tunes

5 years ago by musicvoter (66)

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Trending

[-]

lastravage (65) · 5 years ago

So that what "burn", in this contest, means... 😄 $trdo

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1 vote

[-]

trendotoken (59) · 5 years ago

Congratulations @lastravage, you are successfuly trended the post that shared by @musicvoter!
@musicvoter will receive 0.00003038 TRDO & @lastravage will get 0.00002025 TRDO curation in 3 Days from Post Created Date!

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[-]

nakedverse (68) · 5 years ago

you know whats best mate .....
$trdo to you

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1 vote

[-]

trendotoken (59) · 5 years ago

Congratulations @nakedverse, you are successfuly trended the post that shared by @musicvoter!
@musicvoter will receive 0.00410063 TRDO & @nakedverse will get 0.00273375 TRDO curation in 3 Days from Post Created Date!

"Call TRDO, Your Comment Worth Something!"

^{To view or trade TRDO go to steem-engine.com

Join TRDO Discord Channel or Join TRDO Web Site}

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[-]

man60360 (54) · 5 years ago

I don't know this practice, but nice idea !!! $trdo for you

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1 vote

[-]

trendotoken (59) · 5 years ago

Congratulations @man60360, you are successfuly trended the post that shared by @musicvoter!
@musicvoter will receive 0.00000000 TRDO & @man60360 will get 0.00000000 TRDO curation in 3 Days from Post Created Date!

"Call TRDO, Your Comment Worth Something!"

^{To view or trade TRDO go to steem-engine.com

Join TRDO Discord Channel or Join TRDO Web Site}

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[-]

winkandwoo (58) · 5 years ago

hope it doesn't hurt have some cooling $trdo

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1 vote

[-]

trendotoken (59) · 5 years ago

Congratulations @winkandwoo, you are successfuly trended the post that shared by @musicvoter!
@musicvoter will receive 0.00018225 TRDO & @winkandwoo will get 0.00012150 TRDO curation in 3 Days from Post Created Date!

"Call TRDO, Your Comment Worth Something!"

^{To view or trade TRDO go to steem-engine.com

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$0.00

[-]

commentcoin (55) · 5 years ago

You have used the Hashtag #[CC] and can now reward 58.0 comments under your post with one CC.

More information about the Commentcoin-Project can be found on this account.
Thanks for using it.

Happy comments.
Your CC-Team:
@kristall97 ([Code-Designer])
@alucian ([Project-Designer])

$0.00

1 vote

[-]

commentcoin (55) · 5 years ago

You have used the Hashtag #[CC] and can now reward 58.0 comments under your post with one CC.

More information about the Commentcoin-Project can be found on this account.
Thanks for using it.

Happy comments.
Your CC-Team:
@kristall97 ([Code-Designer])
@alucian ([Project-Designer])

$0.00

1 vote

[-]

wakeupkitty (76) · 5 years ago

What I do not understand is why burning them? Yes I understand there will be less but if that is the idea why starting with so many in the first place? Happy weekend. 💕

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1 vote

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musicvoter (66) · 5 years ago

It is better to have more when you first start as you don't know what the demand will be. As we reward ATOM for every song that is listened to on AtomCollectorRecords.com it is possible that it could become very popular and if we had not issued enough tokens in the first place we would have a problem.
By issuing a higher number it makes it possible to react to the overall demand.

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1 vote

[-]

wakeupkitty (76) · 5 years ago

@musicvoter it is not possible to make more later?❤️

_{Posted with}

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musicvoter (66) · 5 years ago

No once you set the supply amount it is fixed in the same way as Bitcoin although Steem Engine tokens are "pre-mined".

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wakeupkitty (76) · 5 years ago

@musicvoter thanks for explaining. My.kid already wondered how it worked. Now I can answer that wuestion too. Happy day. 💕

_{Posted with}

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musicvoter (66) · 5 years ago

No problem! :-)

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[-]

steemitboard (66) · 5 years ago

Congratulations @musicvoter! You have completed the following achievement on the Steem blockchain and have been rewarded with new badge(s) :

You got more than 500 replies. Your next target is to reach 600 replies.

_{You can view your badges on your Steem Board and compare to others on the Steem Ranking}
_{If you no longer want to receive notifications, reply to this comment with the word STOP}

Vote for @Steemitboard as a witness to get one more award and increased upvotes!

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[-]

gertu (67) · 5 years ago

Espero que tengan mucho éxito en sus proyectos, para este diciembre. Saludos.

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[-]

steem-plus (73) · 5 years ago

Hi, @musicvoter!

You just got a 2.55% upvote from SteemPlus!
To get higher upvotes, earn more SteemPlus Points (SPP). On your Steemit wallet, check your SPP balance and click on "How to earn SPP?" to find out all the ways to earn.
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[-]

trendotoken (59) · 5 years ago

Congratulations @musicvoter, your post successfully recieved 0.00431326 TRDO from below listed TRENDO callers:

^{@lastravage earned : 0.00002025 TRDO curation
@winkandwoo earned : 0.0001215 TRDO curation
@nakedverse earned : 0.00273375 TRDO curation
@man60360 earned : 0 TRDO curation}

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[-]

tlundy47 (51) · 5 years ago

Congratulations but I'm confused just like I am confused about all the other stuff that we are into but I trust you and will follow along :)

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musicvoter (66) · 5 years ago

I try to cover the updates in little doses during Radio Evolved on Sundays but it might be time for me to do a recap video soon! There's a lot to take in!

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1 vote