Welcome to @BuyNBurn. I will use all of the rewards on this account to buy and burn #hive-engine coins. My plan is to trade HIVE Engine coins during the week. I will then burn some of the coins each Monday and write a report about the burn.
I created the account a few days ago. It takes seven days to earn coins. So, I don't have much to burn yet.
I did receive two messages. These messages gave me 0.002 HIVE earnings.
The messaging system is quite interesting. Since each transaction has a message field, people can use their account as a messaging platform. The cost of sending a message is just 0.001 HIVE (or HBD).
Since users are attentive to their wallet. There is a good chance the recipient will read the messge.
Hey, Did you know that you can send an encypted private message? Simply begin the message with the hash key ... you know the pound sign: #
I just sent this message from my primary account @yintercept to @buynburn. The message has an encrypted memo that only @yintercept and @buynburn can read it.
Messaging is fun, but lets return to the burning question.
I received 0.002 HIVE which I swapped for 0.001 SWAP HIVE.
I had only 0.001 SWAP.HIVE; so my options were limited.
I used my 0.001 SWAP.HIVE to place an order for 100,000 TIX .
TIX is a token for the #trafficinsider tribe. The tribe had the domain trafficinsider.org. This domain no longer works!
The fact that that the domain was dead and that I am the only buyer for the coin is an indication that TIX is a failed tribe.
Oddly the tribe still pays rewards for the keyword #trafficinsider.
Do you know of any other active use cases for TIX?
Anyway, I wanted to start @buynburn with a discussion of a failed tribe.
I hold that, in order to create tribes that thrive, one must study the tribes that failed. The first step to thriving is to avoid things that kill a tribe.
TIX is a coin for the #trafficinsider tribe. The tribe has a supply of 83,419,283 coins with a mrketcap of $0.00. the TIX Miner (TIXM) has 8,120 coins.
Thetribe had burned 110 coins to date.
The HIVE Engine Explorer shows the tribe has a shallow richlist.
A dozen accounts have millions upon millions of coins. The the second page has only a hundred or so coins.
I have a strange compulsion to support tribes on HIVE. So, I bought 43,000 TIX while it was on its downward slide.
The HIVE I paid for the coins is now in the great blockchain in the sky.
When I followed trafficinsider.org, I noticed that tribe seemed to have no focus. Even worse, the tribe seemed to be dominated by a tight voting circle.
The members of the tight voting circle were automatically upvoting each others posts.
Outsiders rarely received votes from the inner circle.
IMHO, voting circles are the bane of HIVE. Yes, people on the inside of voting circles can make money. Their automated votes distort the curation process and concentrate rewards on second rate content.
To be frank. I think that all of the HIVE tribes are problematic in that they encourage the development of voting circles.
Accounts that invest heavily in tribal coins tend to only vote on posts in the tribe.
A corollary of this observation is that HIVE authors who fail to include the tags for tribal coins end up with fewer upvotes.
I see this as a big problem in the area of user retention.
New users do not enter the HIVE-O-Sphere with pre-ordained knowledge about the tribal keywords. They do not magically know which tribes to join and which to avoid.
So, new users write posts with random tags. They receive few upvotes. Conclude the game is rigged and abandon the platform.
I used peakd.com as my primary curation tool. I keep coming across accounts that have decent content but have few upvotes. On reading the posts, I notice that they are not using any tribal keywords. This means that they are missing out on the upvotes that come from tribes.
NOTE: One of the reasons I started @buynburn was to encourage users to learn about the different tribes. I put a list of HIVE Tribes on Internet Rivers.
Since I am interested in the entire HIVE platform, I follow multiple tribes.
So, I bought 43,000 TIX in order to study the tribe. I was really upset to see that the voting circle on TIX did not support new members of the tribe.
Although I bought some TIX coins, I have absolutely no desire to be part of the TIX voting circle.
I am not at all sad to see the TIX coin trading at 0.00000001. I would not recommend buying this coin. I only bought the coin because it trades at 0.00000001 HIVE and I wanted something to burn. I burned 300 of the foolish things for this post.
I Hope to Do Better in the Future
I will be receiving coins from two posts in this upcoming week. So, I will have more coins to burn next Monday.
I will track the weekly burn on my personal site. I am still working on the layout.
I will receive the coins for this post next Monday. That will be too late for my report. So it will probably take two weeks before I burn the proceeds.
This is why I created a new account for this project. @buynburn will use all proceeds to buy and burn HE coins. Since HIVE operates on cycles, the account will follow those cycles.
The Picture
The picture shows the flames in the furnace that heats the house where I reside. I cropped and scaled the image to 2048x512 and set it as the banner image for the @buynburn account.
I still need to make a logo for the account. I am having problems figuring out how to draw flames.
NOTE: I will use the rewards from this account to buy and burn coins. I am not sure how many posts I should drop each week.
Let me know which coins I should include in my report.
Posted using Tribaldex Blog