The Last Snow + Introduction of Buy n Burn



The picture shows the snow total from our last storm. It looks like it is about two feet. It is strange to see such deep snow in April.

Workers in Salt Lake County are worried about potential flooding this Spring.

Now for my post: I created a new account called @buyandburn.

The @buynburn account will transfer its HP and HBD rewards to HIVE Engine. It will then use the SWAP.HIVE to buy alt-coins on the primary HE market.

NOTICE: I set the beneficiary of this post to @buynburn. The post will essentially be a burn post.

The point of the account is simply to state that, in order for HE to thrive, there must mechanisms that buy the coins.

The creation of a buying mechanism begs the question: What should one do after buying the coin?

I see value in games that redistribute rewards. Such games tend to benefit insiders. They also have a tendency to distort the curation process.

So, I figure that I will just burn the rewards ... at some point.

I hope to write a burn post once a week. The burn posts will examine different tribes and coins on HIVE engine. Please let me know which coins you want me to examine.

Adding Liquidity

Sadly, HIVE Engine suffers from liquidity problems. If you look at the HE tokens page; you will see that many of the tokens have a trading volume of less than a dollar a day.

I am likely to buy coins for HIVE tribes that are on the skids. That is I will focus on coins that are on a down cycle and ignore those on an up cycle. For example, POB has been increasing for the last few days; LEO has been falling. So, today I would sell any POB I received and buy LEO.

The market is always changing. The situation is likely to be reversed in the future.

If there is a wide gap between the BID and ASK price for a coin; I might use the funds for some market making activity. That is I might drop a SELL order after a buy.

This should help improve the liquity on HE.

The pattern will be: Trade, trade, trade, burn. Trade, trade, trade, burn.

I plan on doing the burning once a week.

I will track the program on my personal web site.

The Account Does Not Need Delegations

I notice that many of the "burn accounts" beg for delegations.

@buynburn is strictly a trading account and does not need any delegations.

We Shouldn't Be Burning HIVE nor HBD

A big question: Why not just use the "burn rewards" option?

The burn option automatically burns all coins for a post including the HIVE and HBD.

The reason is that the witnesses are wanting to increase the market cap of HIVE and HBD.

HIVE Engine, on the other hand, is having problems with liquidity. The ideal burn post would move HIVE and HBD to HE and then burn coins on HE.

I've followed the burn posts by @buildawhale. This effort is burning huge amounts of HIVE and HBD. It only burns a few HE coins.

Why Create a New Account?

I could operate this program with my personal account. The problem is that people, quite rightfully, would trust me.

Creating a seperate account allows people to track and monitor the project using the HIVE Engine Explorer

Benefits I Receive

Needless to say, @buynburn will be trading many of the coins I currently own. I might play the game where I accumulate the coins with my other accounts then sell them to @buynburn for the burn.

I also receive some SEO benefits as the program will create some links between my various sites.

I set @buyandburn as a 100% beneficiary of this post. I will trade the coins I receive for the post and, at some point, execute a burn.

Please let me know which coins you want me to trade. The final picture shows the total snow received in a day. It was a lot of snow.

Snow Total

Posted using Tribaldex Blog