The Future of SPORTS Token - My Query
Brand New SPORTS Token
SPORTS has been one of my very cherished tokens on the steem, now hive blockchain. It's cool to see SPORTS moved to hive, the people's blockchain. With over 8 million tokens staked for curation, I am still interested in investing in SPORTS having known the potential of the token linked to a crucial content category as sports.
With its collaboration with the #actifit community, @SPortstalksocial community seems to rank among the most widely utilized tribes of the hive chain. As far as I know, SPORTS on hive chain is as new as a brand a new token.
In the banner image, I decided to attach a screenshot of the total and circulating supplies of SPORTS token as well as the volume of the tokens staked and burnt. So far, percentage of staked tokens is less than 1% while the percentage of tokens burnt is far from attaining a significant value. Looking at these indices becomes very crucial for an investor as it relates with the possible price value of the token.
It is true that the demand placed on token is what affects the price. When demand grows over a constant supply, then token value would appreciate. This therefore places a need for creating more use cases for the token to make room for more demand.
I therefore use this medium to reach out to @Patrickulrich and the dev and marketing teams of the #Sportstalksocial community to look into what can be done to reduce the volume of SPORTS tokens in circulation.
I had been hosting a contest to encourage users to stake tokens while they receive tokens in upvotes as rewards. I intend to start again as well as my investment in SPORTS, however, I need to receive a statement of commitment from the lead team that our investment won't go down the drain.
I still hold to my vision of SPORTS token at $0.01. It is possible.
What do you think?
Posted Using LeoFinance
Over time that is a possibility but I would be happy with $0.0001. If Hive can get to the $5 or $10 mark in the future then Sports would equate to that type of value even at the crazy price now. It doesn't take much and why it doesn't make sense why people are selling it. My aim is to stake 100 million so I am giving myself a chance at least so I have 70 million to go.
It is hard work but don't panic you are not alone. There are a few of us staking everything we can get our hands on as there is a definite future in the sports token. It won't take much and who doesn't like sports? I just see it as the most popular token when everyone finally arrives. It wont be so easy to make sports then when that happens and if you have 50-100 million it will make life easier.
Thank you for these soothing words. This is when I am beginning to feel th community impact of SPORTS.
If you had worked out what 100 Million sports is right now in Dollar value you would be shocked. At a 45 cent Hive it is $1350 which is pretty cool and that is at 0.00003 so if we could get it back to 0.001 which is not massive that would be $45 000. As long as Hive has value so does sports at whatever price that might be. I think most users don't see this and have overlooked the bigger picture. A $10 Hive at todays price would have you holding nearly $30 000 Dollars worth in value. Who knows what all these values will be in 5 years and that is where I am looking. Everything I do in life is calculated in numbers as that what makes sense to me and why I am positive about Sports and Hive.
I like your math. Makes me want to write quality sports related articles.
Give it a go as we need sports related posts desperately. As I said I do think in numbers as this place is all number related and helps you understand things easier.
Beautiful analysis you made. I am reconsidering investment in SPORTS again and would as usual encourage others to do same.
These numbers are great and make you want to go ahead with this project and continue investing and gathering the most sports we can.
You make me want to buy 1,000,000 SPORTS. I would like an extra 100,000 USD...
In the near future something like this can easily happen. Beehive will give our tribe enough strength.
In the near future something like this can easily happen. Beehive will give our tribe enough strength.
What do I think?
I think that if the tribe made the commitment to move to the HIVE network, which means in the least paper and asking for credits, then they are invested and time vested.
I HODL some sports too - not a whole lot, but enough to where if your vision of $0.01 is possible than it will have been worth the (very little) time I invested. Seeing people like you want to support makes me want to curate with my 7900 aka $790 by your vision SPORTS.
Tribes are small enough still to the point where just one supporter, can help the network a whole lot.
Now that more tribes are moving over, I am happy to start curating again.
Thank you. aim glad this post inspired you to start curation and content creation in the SPORTS tribe.
I appreciate the support you've had for SPORTS @uyobong! I can say that I am dedicated to keeping this community alive and growing but I can make no promotions on how the monetary value of the token will perform. The point of SPORTS is to organize and support a sports focused community and is not geared towards financial profit. If those two factors align then that is great but the use of SPORTS is about our community foremost and not profits.
As for burning options we've had promotions in the past to promote burning. We also have an arrangement with @aggroed to display ads on our main site in exchange for purchasing SPORTS off the market and burning those. I also have future plans for burning opportunities but nothing ready for an announcement yet.
As for reducing our inflation it was something I heavily considered when we made the transition to Hive. The problem with reducing our token inflation is that anyone who joined STS prior to the switch would have an unfair advantage over new users as they were able to mint tokens on a much higher inflation scale. This is why I feel it is imperative that we don't lower inflation as to not hurt the future community members who would like to grow to the same levels that our current whales are at.
Thank you for your detailed and we'll explained reply. The truth about community growth is that of communication and when this misses, community loosed essence.
You might not know how assuring your frequent posts about the SportsTalkSocial tribe could endear more users to join the community.
We way to hear often from the team even if it's not something new. Let us always have this assurance that the team is still concerned about the growth of the community.
Even if it means calling for creators in your stead, I'll gladly oblige to write in that space and we share it to Twitter to tell the world about our community while also earning some tangible hive upvotes.
Please, there is no way we would stop talking about profit and finance in the STS community because we first had spent moneny to buy tokens and stake them. What would be the essence of the community without curation? Curation needs tokens and we buy them. We will always talk about the money.
Thanks once again for the reply.
These publications motivate me to stay here and know that I am in the right place whenever I can, I read you friend @uyobong and I thank you for supporting and believing in this and we are several who believe in this sports tribe.