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RE: Introducing Buy 'n Burn

2 years ago

HIVE has several comment tokes including BEER, WINE and PIZZA.

My thoughts are that the @buynburn account should accumulate enough these coins to be able to give awards, but should then burn any excess.

Should the account be able to give comment awards or should it just burn everything?

!WINE

0E-8 BEE

2 comments

@wine.bot56

2 years ago

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@themarkymark80

2 years ago

There isn't really any benefit to having more burn posts, if there is a token not listed you want let me know. Most of the HE tokens have so much inflation no amount of burning will make any difference. Some tribes have over 25% inflation.

I will use the HBD rewards from the program to buy and burn coins. The reason for this is that the witnesses are wanting the market cap of HBD to increase. Burning HBD or Hive undermines this effort.

Not quite the same. We want users, distributing more rewards to the same users isn't the same thing.

0E-8 BEE

@yintercept64

2 years ago

There isn't really any benefit to having more burn posts

I agree with this. Automated burn posts appear to have little impact on the HE coins.

The alt coins are falling because tribal coins produce more interest than the market can absorb.

In the long run, the only way to stop this problem is to attract more users.

Buying Coins Seems To Make an Impact

Oddly, the act of buying coins appears to make a short term difference.

Since the trading volume of many the coins is less than a dollar a day, the simple act of buying a HIVE worth of coin can make a huge impact with some of the tribes.

The Account Focuses on Marginal Coins

I want to focus on marginal coins like CCC and FOODIE. These tribes tend to attract artist types who are selling their coins as they earn them.

This effort will get rewards to the smaller accounts.

A Market Maker that Occasionally Burns Coins

The real goal of this project is to create a market maker that buys and sells coins. The program will occasionally burn the acquired coins.

My hope is that adding a program that is actively buying coins will help increase the liquidity of the coins.

This might help attract users into using HIVE Engine.

Burning HBD and HIVE

The final point of this project is to argue against burning HBD and HIVE.

To attract users, both HIVE and HBD need to have a high market cap.

Conclusion

I have actually followed many of the different burn efforts. Most of the programs do not make a significant impact on the coins.

I am creating a new program because I think it is possible to structure an account that makes an impact on the marginal coins.

0E-8 BEE