Let's burn HONK.CASH

Hey everybody,

it's been some time since I wrote something. This is just a post inbetween for read.cash and not like the other copy-paste articles from my blogwebsite that I ussually upload in combination with me reading it out in a livestream.

I want to let you all know the 13th Bitcoin Birthday marathon stream was online for almost 22 hours and our still ongoing funding for VirusWaarheid, a foundation that focusses on fighting covid regulations in court in the Netherlands, so far lead to a total of 150 euro of donations. You can watch back the full episode here: https://www.twitch.tv/videos/1251142471

Highlight video's of the day are available in the highlight channel of HonklerHangout on discord: https://discord.gg/TbGwhVcfWF

Special thanks to Joemar Taganna from https://spicetoken.org who couldn't make it that day due him solving other peoples problems and Liberlander Paul Brooks who was snowed in and didn't manage to establish a stable connection, you voices are welcome for some future episode!

The reason I write to you today is because, like announced in the 13th Bitcoin Birthday marathon stream, I have been building a new studio setting and this is going to change things up a bit for the upcoming 2 months. You see, as a Dutch born Liberlander, I kind of feel sorry that the Dutch citizens have such a hard time figuring out what's happening to their pensionsavings. Since the average babyboomer has retired, they are unable to spend their savings anywhere for the past 2 years. Like I've alway's stated, the promises of paper gold (government debt) are greatly overexaggerated. Most of the Dutch are still unaware of the hyperinflation and believe that a virus causes the current state of affairs. With all my heart I wish to show these people a different life is possible, it just really goes against their programming.

The upcoming months I will stream in Dutch and for that reason this is my final announcement that there is currently a !!!!!HONK BURN HAPPENING UNTIL 6th OF FEBRUARI 2022!!!! After this moment the new HONK.CASH SEP20 token will no longer be available for the previous HONKHONK.io SLP token. Until that day, you can use Telegram spicebot to swap SLP to SEP20. After experiencing HONK.CASH sep20 for a couple of months, I will share with you my experience before I focus my attention to another place.

TIPBOT:

Let me start off by saying that I like the tipbots on Telegram. They allow me to pay raffle prizes without transaction fee and if you take into account that I perform a couple of transactions per stream because of the giveaways I host on my stream, you can see why I like low fees. When the team behind HONK.CASH announced they where going to organize a swap to SEP20, my first question was, will there be a tipbot? Couple months later and as of now there is a new tipbot available on telegram that supports SEP20 tokens, called @Herculestipbot ,but the bot requires some sBCH for every transaction as a fee (500satoshi) which means you need to tip a minimum of around 600 HONK at current prizes to atleast beat the tipfee in cost, which is a shame, as most HONK tipping between users happens in batches of 1000 HONK, is my experience. If you want to trow a bit of honk around and need to pay 500satoshi bch tipping becomes more difficult, which reduces spam in your channel. There is something to say for both options, but I would like to see a feeless SEP20 telegrambot to really be convinced, I hope it will come in the future.

MISTSWAP:

Most liquidity of HONK today is locked up in MISTSWAP. I think it's a smart move of HONK to move most liquidity to 1 location, as I believe it will make it's fluctuations less volitile and allow the protocol to be more liquid. Since the start of the decentralized market in october of last year, the price has gone from 0.1 satoshi to 2.5 satoshi and back to 0.88 satoshi at the moment of writing. The mistswap reward is a new feature for liquidity providers that is something new to SLP holders and when HONK made these insane scores of last year, the reward started to go up to a level where it seems to pay of and have people trade part of their reward back so that rewards will generate them an income that is higher then the cost they put in. I understand this part sounds a bit sloppy, but with a current MIST reward of 10.000 per day you can buy 50 million HONK. If you would use those HONK to trade them back to MIST, your fee will generate more HONK for you in MIST reward then it costs you to lose it on a trade.

This means either 3 things:

1. HONK is undervalued, or

2. MIST is overvalued, or

3. We are living in a clowns world.

I was more then convinced of the 3rd, but I always like to experiment and see if it;s just my red nose that starts glowing or something is really going on, so I decided to post about it in the new HONK.CASH Telegram group and before I knew it some random HONKers send me a couple 100 million HONK to try and see if we can learn from experience. Time has to tell what will happen next, for now it seems that most people that hold HONK use the farm reward to add extra liquidity, and in the next farm reward timeframe of 30 days we have to see if the participants will be able to buy back the HONK that they burned on the market by listening to my crazy ideas. I think if it shows to pay of, Adolf Honkler should really consider to use part of that unburned HONK-stash the 6th of Februari will give him to give some sad clown a job and a way to earn a bonus by spending some time for the greater good. I'm currently buying more HONK from my farm rewards, because with the upcoming mistreward change I feel like the kind of reward that is projected today should mean HONK farming at current prices will reward around 3Billion HONK in mistvalue per month, that means after 30 months the reward payout will be equal to all HONK value combined today. The biggest red nose up the HONK's sleeve is the limited amount of 100B in circulation, if earning means burning, then I think HONK should try and clear that misty sky. There is plenty of community willing to make those clicks to make the clown a better place.

For the rest I got nothing to tell you HONKers, let's see if the play above will allow me to replenish my HONK buckets while I try to give away 1 million e-Gulden EFL to help the Dutch fight corona. I hope it will have an impact on the world that will change it for the better.

Best to all, happy new year wishes and ofcourse thanks for all the generous tips I've received on read.cash, hope we'll meet one day either digital, of here near Liberland where I will welcome you in the style and succes that my mission of the next 2 months will provide.