Buy N Burn Torches 3K FOODIE

The @buynburn account sends the HIVE and HBD rewards for posts to #hive-engine . The project uses the funds to buy and then burn coins for HE projects that are currently suffering a dip in their price.

I write each of the posts by hand. In my warped view of the universe, this qualifies the project as a #proofofbrain effort.

I was actually working on a different post. It will take a few hours of research to complete; So, for today's burn I will look at one of my favorite HE Tribes: Foodies Beehive.

After I publish this post I will put 3,000 FOODIE to the torch. 3K FOODIE is worth $0.14 ... the size of the burns is dictated by the upvotes I get on the posts. If I had a whole dollar, I would be burning 30K FOODIE.

Foodies Bee Hive

Foodies Beehive is a well established tribe in the Hive-O-Sphere that rewards users with the FOODIE token. People in the tribe discuss recipes and report on culinary adventures such as their latest trip to MacDonalds.

Most of the posts are more glamorous than a trip to the golden arches.

As members in the tribe are more interested in the food than crypto, the tribal token tends to flounder. Personally, I think that people who actively engage in a tribe should be actively buying and selling the tribal currency.

The tribe has the domain foodiesunite.net. This domain works some time but often reports a server error. I usually access the tribe through peakd.com or through other tribal portals such as HIVE.photo or VYBrainium

NOTE: Wavio is a project from British Columbia with a special interest in reviews of local restaurants. Since the #WAIV token has greater support, I would suggest that FOODIES consider wavio.com as a primary tool for publishing posts.

FOODIE Supply

HIVE Engine reports that there is currently a supply of 33,007,831 FOODIE on the market. The coin trades for $0.00004 USD (0.00015 HIVE). The coin has a reported market value of $1,320. The market value is a bit misleading as about 8 million of the supply is in administrative accounts. I suspect the real market value is under a grand.

Sadly, there is currently only 3 bids for the coin; so the market value could easily drop to zero.

The reason I created @buynburn was to create an additional buyer for this tribal coins!

The FOODIE Richlist shows that there is a decent distribution of the coin. Unfortunately, it appears that there users have a few million free FOODIE that they are likely to dump if the price of the coin rises. So $0.00004 is likely a good price.

FOODIE uses ScotBot to calculate the rewards. The ScotBot Configuration page shows that the coin triggers on the keywords FOODIE, FOOD and RECIPE. It excludes the terms "actifit,share2steem,nsfw,dporn,porn." Excluding the terms Actifit and Porn prevents people from discussing how they gained the calaries and burned the calaries in the same post.

My FOODIE Adventures

I accumulated 50,000 FOODIE with the @vagabondspirit account to curate FOODIE posts. 50,000 FOODIE currently has the market value of $2.45. My account also has WAIV, POB, VYB and PHOTO coins to supplement the FOODIE curation.

Sadly, I lack the culinary skills to write posts about food.

I thought about sharing my recipe for meatloaf with this post.

My recipe for meatloaf is the buy the cheapest ingredients I can in the store. Mix it together. Roll it up into a loaf. Bake it until it reaches 165° Fahrenheit and serve it with ketchup.

My reciped isn't all that good. Results vary depending on what is on sale in the store.

Even worse. I am the only person I know who is willing to eat the food I cook.

As for my curation. With 50K FOODIE, I am receiving a decent daily reward for my curation efforts. FOODIE stakes half of the reward and half in free form. I am happy with my holdings and have started placing sell orders for my free FOODIE.

I used DALL-E to generate the picture for the post. I think a cook looking at burning food is a good #meme .

Total Burn

This table shows the total burns to date. The dollar size of the burn is determined by the upvotes I receive on posts (which is usually quite small). If I receive any upvotes, I will use the funds to buy and burn other coins.

I have a longer post in the works that I will publish this week along with a #POB burn.

Coin	Burned	HIVE Value	USD Value
CENT	614	2.127	$0.92
CCC	2,676	1.163	$0.48
TIX	1,478	0.000	$0.00
PAL	631	0.093	$0.03
MEME	1,104	0.141	$0.06
FOODIE	4,694	0.381	$0.55
PAY	278,484	0.046	$0.01
BLOG	4,290	0.026	$0.01
POB	70	0.743	$0.26
LOLZ	20	0.144	$0.06
HUG	101	0.000	$0.00
Total	294,162	4.865	$2.38

Conclusion

Feel free to leave comments about the Buy and Burn project. The primary goal is simply to create a human driven buyer on the HE market. Let me know what coins to include in the rotation. Also let me know if you think the effort is too spammy.

Finally, I think that members of HIVE tribes should actively engage in trading the tribal coins, after all the coins are a central part of the HIVE tribe.