Burning 200 K PAY ... just for the fun of it

@buynburn uses its HBD and HIVE rewards to buy and burn tokens on Hive-Engine. My hope is that the buys will help renew interest in the Hive Tribes.

The amount of coins I can burn is based on the upvotes received by my burn posts.

Today I saw that there was a fire sale of just under 200K PAY at the price of 0.00000011. So, I decided to buy and burn 200 K PAY tokens.

PAY is the token for Political HIVE. As I understand, the rewards trigger on the tag #politics .

I suspect the token is unpopular because it rewards all sides of the political fray. To be truthful, I personally dislike most of the partisan ideologies that dominate the political landscape.

The Token's Page says that there were 163,283,653 PAY in circulation. There is a maximum of 250,000,000,000 PAY.

@politicalhive is the distribution account for the token. The Hive Engine Explorer shows that account spews forth with a large number of payments each day.

One can buy a decent stake in PAY for just pennies.

HIVE Engine showed that the 200,000 PAY I just bought was worth 0.02 HIVE Pennies or $0.007 USD. I actually paid more than that for the coins.

The richlist shows that the coin has a decent distribution, although a large number of accounts have unstaked their PAY.

Personally, I think it is good to stake one's pay as staking PAY funnels the coins helps promote the good side of politics ... assuming that there is a good side of politics ... somewhere.

Interestingly, users have only sent 110422 to @null. It looks like I will triple that figure today.

I've noticed, through the years, that the tokens that retain their value often have mechanisms that send coins to @null. This reduces the float. It also provides some confidence that there will be buyers for the coin in the future.

PS: I created the image for this post with DALL-E. This #meme shows faceless creatures yelling into a microphone. I think it is a fitting picture for the world of politics.

Let Me Know the Coins You Want to See Put to Torch

My coin purchases are limited by the upvotes on this account. Since the account is new, I am concentrating on coins with a serious oversupply.

I tend to burn coins on the down cycle. I chose this coin because there was an order to sell 200k coins.