BBH Token Analysis

Bitcon Backed Hive (BBH) is a Hive Engine token created by @bradleyarrow.

The goal is to have 1 BBH equal 1 Satoshi. With a combination of Bitcoin holdings and hive-112281 account growth.

Supply (Circulating / Total / Max)
99989973.00 / 100000000.00 / 2100000000000000.00

Interest

@bradleyarrow sells the token for the value of one satoshi, and sends SWAP.HIVE, LEO and ALIVE tokens to BBH holders every Saturday. He runs a tipping bot @bbhbot that reacts to the !BBH command by sending 1 BBH to the tipped author.

Considering that the token is designed to be one satoshi worth and would gain value, I gave it a small try and bought 250k BBH a while ago.

Risks

@bradleyarrow owns almost the entire circulating supply, 97304630.33 BBH. We need to trust him. The value of the token depends on his honesty, his wealth and his longevity.

250k BBH will take a long time to sell at a good price. The Hive Engine 24H volume is very low ($5), the spread is wide, and most buy trades are about a thenth of HIVE.

Backing

@hive-112281 owns 452 HP, 81 HBD, $550 in Hive Engine tokens. No evidence of bitcoin holdings.

The total account value is about $770. This confirms the value of 0.027 BTC of BBH sold to investors, or approximately $755.

Holding Experience Report

Here are the drips received from @bbhbot for holding BBH over the last 4 weeks:

Date	Amount	Currency	Market Bid Price	Hive Value
10/07/23	0.52774059	SWAP.HIVE	1.00000000	0.52774059
10/07/23	1.177	LEO	0.11946010	0.14060454
10/07/23	11.2904	ALIVE	0.02700002	0.30484103
09/30/23	0.52759217	SWAP.HIVE	1.00000000	0.52759217
09/30/23	1.171	LEO	0.11946010	0.13988778
09/30/23	11.238	ALIVE	0.02700002	0.30342622
09/23/23	0.52915585	SWAP.HIVE	1.00000000	0.52915585
09/23/23	1.177	LEO	0.11946010	0.14060454
09/23/23	11.2936	ALIVE	0.02700002	0.30492743
09/16/23	0.54021486	SWAP.HIVE	1.00000000	0.54021486
09/16/23	1.204	LEO	0.11946010	0.14382996
09/16/23	11.5471	ALIVE	0.02700002	0.31177193
09/09/23	0.54141036	SWAP.HIVE	1.00000000	0.54141036
09/09/23	1.205	LEO	0.11946010	0.14394942
09/09/23	11.5518	ALIVE	0.02700002	0.31189883
Total				4.91185550 HIVE

I own 256,098.99 BBH, it is worth $72.678. The USD value received during this time is $1.546.

The monthly ROI is 2.12%.

It's a good return, but I doubt it could scale well.