The @buynburn account uses its HBD and HIVE POWER rewards to buy and burn #hive-engine tokens.
For the project to work, I need to occasionally write posts.
I write every post by hand so that the post qualifies for #POB rewards. I even generated the ai image above showing hands typing on a burning typewriter to emphasize the original content.
For today's burn I thought I would take a gander at POB's sister coin VYB. This coin was created by a dispute in the POB community. I recall that the dispute was about self-votes as some POB whales appeared to be harvesting the rewards.
The rewards trigger on the #POB keyword and are autostaked. That means they build up in one's HIVE-Engine account even if the user is not actively attending the account.
As I understand people who self-vote do not get the reward.
Personally, I think that this is one of the best coins for newbies. Small accounts should never self-vote. Sadly, the value of the coins are so small that they are not worth
HIVE Engine shows that VYB has a supply of 9,750,589 coins trading at $0.00023 for a Market Cap of $2,242. The max suppy of the coin is 21,000,001. The supply is just under half of the max supply ... so you don't have to worry about the coin owner doing a mad minting.
The coin is currently trading at 0.001 HIVE. It has traded for less.
The coin has an awkward unstaking policy. The unstaking takes place in 25 days in one day increments.
The program is nice in that if you need some SWAP.HIVE quickly you can get 4% of your VYB holdings in just one day. It is awkward for larger withdraws.
The VYB Richlist shows that the coin has a decent distribution. As I said, since the coin autostakes, the coin accumulates in accounts that are active on HIVE.
I actually think that this is one of the best coins on HIVE engine.
I happen to hold over 120,000 VYB in various places. I actually would buy more but I am already one of the top accounts in the richlist and don't want to add to the imbalance.
I started withdrawing 20 VYB a day which is less than my daily interest.
On publishing this post I will burn 6,411 VYB worth a total of $1.54. The size of the burn is determined by the total upvotes I get for my post.
I will use the earnings on this post to burn other HE coins.
BTW, I've burned 4,654 in the past. So, this burn will bring me over 11K VYB burned.
I hope to write more of these burn posts. They take type. I now need to go and soak my fingers in ice water. I could use a fire extinguisher to put out my burning typewriter. Here is my Night Cafe Profile
Here is the Proof of Burn #POB. It shows 6411 VYB sent to @null .
https://he.dtools.dev/tx/42d8632bba0f1f5226d3960dcc27df69ee2f968c
!PIZZA
$PIZZA slices delivered:
(1/15) @yintercept tipped @buynburn
Wow, this burn really was effective.
The price of VYB just jumped from $0.00023 to $0.01031 raising the marcap to $100,468. That is a 4221.00% increase. My VYB holdings have a reported value of over a grand.
This shows the power of low volume trade.
Okay, only 1 VYB traded at $0.01031. That 1 VYB was me selling to me ... aka a wash.
But, hey, imagine if HE tokens increased in value.
!BEER
Hey, check this out
https://peakd.com/@canje/curation-project-to-encourage-burning-9xn?referral=yecier