Topic: Burn Mines (Read 148 times)

We will soon show how this works, we will have a rewards system that doesn't diminish as more people join, but inflates, so we will be creating Purposes for them so that they become Locked Value.

Soon we are about to launch a STEEM-Engine TRC20 Bridge Token, so what this means is that people on Steemit will be able to log into STEEM-Engine to Buy and Sell this Token, they can then Stake it on STEEM-Engine for Rewards and increase their own Earning ability by Buying up what is in Circulation.

They then can send these Tokens to their TRX Wallet as TRC20 Tokens, and trade them on SunSwap or wherever else it gets listed.

We will start this soon and then we will include a either a whole chain for this, or have it as a central part of a Blockchain.

But first we will Clone Ethereum and may or may not alter it, if we don't we will launch at least 1 more and will change it.

You don't seem to understand completely, they don't go to an Address in a Wallet, they get Locked in the Contract and Calculated into TVL.

I couldn't keep up with the technical explanation that you have, I would rather specifically ask about what is the actual benefit for end-user since you are mentioning many mainstream social media and various content creators that the content itself might exist on many platforms, why should they choose your project/platform as a way to monetize their content instead of just simply benefiting from what the social media itself has built-in, like Patreon or anything.

You also seem broadly think that your concept could be applicable ranging from gaming, commerce, to the registrar system. Yet the burn mine itself, as you previously said only to increase locked value and having a reward and burn utility, I wonder would it truly benefit the end user?

Exactly!
Burning means those tokens are forever lost. If you send it to charity, the charity will just sell them and they end back in circulation. Thus, no burn happened

This brings a larger Swap Pool, so if your Burn Mine is attached to a PancakeSwap Clone every time, or uses a List from an existing Swap and advertises alongside them, now they can be adding the Mint Tokens to the Swap, and there is more Locked Value.

Then if we start to include other Technologies, we can start merging this with DEXs, etc, so that people can pay and be involved like Steem-Engine and Hive-Engine, but with Rewards and Burn Utility.

This also generally raises the Incentive and therefore the Value, in the obvious way in that it incentivizes those who are holding to Burn. This will be particularly useful for us because our first Rewards Currency will be extremely inflationary, or actually have a Premine of 10,000,000,000 for Rewards is what it is, so the Circulation is what will inflate. So if we have a Burn Mine, this is like the Booster Club, where everyone is earning for offering because the Money doesn't go to a Profit it is Burned. But it also then Incentivizes those holding BTC, ETH, TRX, to come into our Market and Buy, so they can Burn. This gives them a Hash Rate and is a Burn, so this could completely change the Value in 1 Instant on the whole Market as the Burn raises the Value, the Hash Rate brings everyone else's daily Minting value down, and then the value of these Tokens then spreads out to the others as people Trade.

And what are the actual uses cases of burn mine?

I rather think it will complicate things if you are burning some token in order to mint a new different token on specifically some platform. and it goes the same for other platforms too. What makes it technically improbable or a more convenient way for the user, to have a specific main token as a utilities rather than benefiting from what you propose?

I don't think you understand,
I am talking about Contracts that hold Tokens like a Liquidity Value,
"$1,000,000,000 held on PancakeSwap" or whatever,

But it doesn't come out, and that's the Contract. Instead it goes in and another Token comes out forever and that old one is gone.

The definition of burning crypto is the process of intentional burning to eliminate coins. Thus, crypto coins and the assets in them cannot be reused. To do so,token/ coin will be put into a non-retrievable wallet.

So based on what exists now, here is what could happen

People get a Token and Wonder "What can I do with this?", And many reading here may think, "Invest", or whatever particular Mechanism, DEX, Bot, or whatever you use, but most people Wonder, "What is this for?", and don't want to learn all that. This is how UniSwap and PancakeSwap effected the Cryptocurrency World, and now it's kind of more straight forward for everyone.

What a Burn Mine adds is actual Utilities,
It starts with the Burn Mining Tokens, Subscriptions, etc, then all being Swapped. The Tokens we propose are Social Media Rewards, we are making a Telegram Rewards Bot like MEE6 from Discord, and we will also create one for Discord, these will be connected to TRC20 but we will eventually make them deployable from our Blockchain with the TRC20/BEP2 Peggy Option. We then will have a NutBox clone which is a STEEM Delegation Rewards Bot, and we will create Steemit Group and Hashtag Rewards Bots, deployable on our Blockchain, and we will do this across MetaVerse. You can compare this aspect to the Peace, Abundance, Liberty Network for Minnow Delegated Bot Voting from Discord, activated by commands in Discord like the BLURT Discord Bot. And you can compare the TRC20s we are making to Steem-Engine and Hive-Engine, though we also have Tokens on those Platforms and will offer Peggys to TRC20 very soon.

But if we then take a few steps back, like out of Blockchain, and look at Apps, and the Cloud, and SaaS, PaaS, IaaS, etc. We can look at 9-1-1 Call Centers and general Call Centers, and see that Telephones are part of this, and we can start by looking at 1-800 numbers and the craze there in like the 80s and now Psychics on Commercials selling Calls, etc. Therapy on the Phone, Psychiatrists, Doctors, etc, etc. Zoom Meetings, YouTube Videos, TikTok, and Live Streaming.

So,
When someone asks, "What can I use this for?", about a New Token, and we introduce the Concept of a Burn Mine, we can see that people can start accepting Currencies for Services, and provide Platforms for this. As I write this what comes to mind is the Mirror and Tonal, where the entire concept is to bring a Trainer to your Home, but in a way that is like the missing Exercise guy from the 70s or 80s who looks like the Painter guy kinda. And they bring the Trainer to everyone's home, and they can go through and select them probably, and you see the Peleton system has like places on GoPro or something, basically like using YouTube type coaching as an Organized Fitness System.

So if there are Subscriptions and Services, where different platforms Cover different things,
You could, for example, Buy Steemit Votes on our Platform through a Self Selected group of people offering their Votes for Sale, and anyone there can Buy ours, but it could be done by Proxy through the Burn Mine, or have Rewards through the Burn Mine, where as they Buy a Vote, they get a Hash Rate in the Mine.

Zynga could use this on Facebook, and it could very easily become like a Norm for Pay to Play services, like the Steam Gaming Platform, or like Sourceforge and like Pirate Bay kind of, but with Sales, for Tokens. And Live Broadcasting, all connecting to various Social Media Platforms. This is how we will merge the Burn Mines with what we are calling CandleBox. And SoapBox will be real Sales, like eBay or Etsy, where people can Rate your Service, but you can choose what Tokens and everything you accept. We will also be creating Registrar Systems.

It would, but that's like saying "stop calling everything DeFi" when talking about Steemit, if we look at TRX they took the Witness System from BTS and STEEM to create SRs.

So,
What I'm talking about is a Burn Mine.

Token Contracts that are Minted by other Tokens being burned as Fuel, some taking Several Tokens, this could even become so complex that Token Burn Tokens can be used to Mine other Tokens, and this could basically become a Mesh of Burn Mining.

And if we look at this concept itself, many people are looking for Point and Click Mining, so what this offers is that, with Hashing Power on a Network forever, and the overall hash could be measured in dollars, with each Hasher having a Hash Rate.

And then the Charity Burn would use all these same Mechanisms, but it wouldn't Burn it would go to a company, and this option would be surrounded by actual Burn contacts. Then you could have Subscription Based Networking on top of this, like Steemit with RSS feeds to other things instead of just Blogs, and the option to Tip the person in different Subscription packages. It could be private or just fundraising. So then if a person is popular, they can go in what at that point would be a Burn Mint, and Mint a Token for their Subscription, and they intake VKRW, TRX and BTC, and their Subscribers get content created by the person, and YouTubers, TikTokers, Bloggers, Vloggers, everyone could have Subscribers pay them in Tokens for creating things.

Wouldn't it will miss the point of burning?

As far as I know, the concept of burning is to eliminate the coin or token circulation within its blockchain to be unusable. By just moving the "burned" coins to let's say some charitable address will deem the coin still circulating. So, I think it will completely miss the point of burning.

A Burn Address,

Some could also use Proof of Burn which is basically what this is with a larger concept, there could even be a Burn Chain, a whole Blockchain.

And to your Point,
There could be Charity Burns, where the Burn Mine has like an Option to send Tokens to a Charity Address, like instead of Burning, and this could also itself become a Proof of Burn, like Proof of Dues, or Proof of Subscription. In the Burn Mine.

Ok and?
What would be the purpose of this? And by burning, you mean it'll be sent to a wallet where you can access them, right?