BuyNBurn Burns Some VYB

The @buynburn account transfers its HBD and HIVE rewards to HIVE-Engine. Where it then dutifully buys and burns coins.

I write an original post for each burn that way the posts will fit the requirements of the #proofofbrain and #vyb tribes. After publishing, I will perform a ceremonial burn of 1000 VYB which, according to Hive Engine is worth 0.60 HIVE or $0.27 USD.

The size of my burns depends on the votes that I get for the posts. Hive Engine Explorer shows my market activity for VYB. As you see there are a lot of buys and four burns.

VYB stands for #VerifyYourBrain . This tribe is a fork of POB. The reward triggers on both the #POB and #VYB keywords. VYB differs from POB in that it gives the rewards in staked form.

The tribe does not reward authors who upvote their own posts and is hostile to automated voting, voting blocks and other activities that mar the POB tribe.

Because VYB autostakes the rewards, it was one of the best balanced tribes.

As you see, a large percent of HIVE users never pay attention to their HE account. The VYB will build up in these accounts and help create an equitable distribution of rewards.

I had to use the past tense. If you sort through the VYB richlist; you will see that there are a few accounts which are trying to corner the tribe; So, the distribution of VYB is becoming unbalanced.

Sadly, there is a bidbot that jealously guards the BID price; so it is extremely difficult to buy the coin.

While I think bidbots can play a positive role in the HE ecosystem. I think the bid bots that automatically outbid other users creates a hostile marketplace. Bidbots that create an imbalance in the distribution of the rewards harm the platform.

Since the bidbot auto outbids everyone. I like to place a bunch of bids to force the bidbot to pay a higher price for the coin. This increases the reported value of the coin for retail investors on #hive-engine.

The VYB Tribe has the domain www.vybrainium.com. Like many of the other tribal coins, the site has not added any new posts for over a week. This has me troubled. Clearly there is a problem with one of the HE nodes. The fact that it has not been fixed has me worried.

The HE tokens page shows that VYB has a supply of 7,663,243 coins that currently trade at $0.00025 creating a market value of $1,915. The price doubled this week because I placed a huge number of bids to push up the BID price from the bid bot.

I have 65K VYB in my primary account. I get about 16% interest on the coin. I don't want to acquire anymore because I worry that my account add to the imbalance.

VYB was one of the best balanced accounts, but since casual users aren't buying it, the coin is doomed to become yet another failed HE coin.

I've burned 1602 VYB to date in 3 transactions. I will do a 1K burn after posting. Many tribe will promote a post for burning coins. I will keep VYB on my burn rotation. I hope to burn tens of thousand of additional coins. My burn is limited by the rewards received for my post.

I generated the image for this post using NightCafe. Kids discussing a brain makes a good VYB #MEME.