June Tally plus an NFT

The @buynburn account uses its HIVE and HBD rewards to buy and burn tokens on #hive-engine. All of the funds in this account are destined for burning.

After I publish this post I will burn 100 POB. I will use any proceeds from the post to buy and burn more HE coins!

I created the image above of a brain typing on a laptop with Night Cafe. I liked the image so much that I minted it as an NFT on HiveMe.me. I minted 5 NFTs for 1000 MEME. I will sell four of the images for 280 MEME. This is essentially cost as there is a 10% sales fee. The images cost less than a penny a piece.

Account Tally

Every month, since August 2021, I've tallied my HIVE Empire. I have four working accounts. My personal account is @yintercept. I created the accounts @vagabondspirit, @idoodle and @irivers for projects that I never took live.

Currently @vagabondspirit curates FOODIE posts, @idoodle curates CCC posts and @irivers curates STEM posts.

Last month, I had 2,066,384 coins with a reported value of $2,354. This month I have 2,108,455 coins worth $1,767.

NOTE: This month Political Hive launched the #VOTE token to replace the PAY token. So, I converted a large portion of my PAY into VOTE. I suspect that the VOTE coin will flounder; so these coins are likely lost.

I would be sad, but I suspect that the whole HIVE platform will collapse in the upcoming years.

Lets face it. The Witnesses killed the platform when they raised the HBD interest rate to 20%. We are paying $130,000 a month in interest. This converts to about 600,000 HIVE a month at the current HIVE price.

HIVE needs to attract new 100 dolphins a month just to pay the interest on the HBD debt.

The 20% interest on HBD undermined the entire platform.

BTW: The interest on HIVE costs us way more than 20%. As you see HBD conversions are driven by the price of HIVE. Total HBD conversions increase whenever the price of HIVE is. People saved their HBD when the price was over $0.35. Conversions increase when the price of HIVE has a large dip.

Anyway, we saw over a million HBD converted to HIVE during the current market dip. A million HBD at 0.22 is 4.5 million HIVE. The market must absorb the converted HBD before we can see an increase in HIVE.

If the price of HIVE suffers another major dip, we will see several million more HBD converted into HIVE.

The decision to pay 20% interest on HBD turned the coins on HE into empty bags. These are the shiny bags that I hold.

I will burn 127 POB after I publish this post. This is worth $0.24. I think my new meme NFT is nifty.