This post will discuss the importance of burning coins then finish with a blurb about #POB . I will summarily burn 70 POB after I publish. I produced the #meme for this post with DALL-E.

What Does It Mean to Burn a Coin

If an author sets "null" as a beneficiary, the system will send the author rewards to the @null account. The designers of HIVE and #HIVE-Engine intentionally lost the key for @null; so sending funds to @null affectively burns the funds.

NOTE: There are programs that assume funds sent to @null are burned.

It is good form for authors to send the proceeds to @null for certain controversial posts.

There are several accounts that set null as a beneficiary for all posts. I often upvote null posts when I am in an hurray and just need to drop a few more upvotes before going to bed.

Burning coins helps reduce the number of coins floating on the market. This can increase the price for a particular token.

NOTE: Burning does not increase the market value of a token. The basic thought is that the intrinsic value of a coin is set by some external factor. If the market value stays constant then destroying some of the coins will increase the price of the rest of the coins.

Burning Coins to Promote Posts

In some cases, sending funds to @null with the url of the post in the menu will put the post on a promoted list.

In theory the promotion list will increase the visibility of the post. So burning some coins on publishing might increase the number of upvotes received by the post.

I will burn 70 POB after publishing this post! That is $0.26 worth of #POB. I will also burn any POB and #VYB that I receive for the post at a later date.

Autoburn Posts Reduce Author Rewards

Sending author rewards to @null will burn only author rewards. The burn model assumes that excessive author rewards is the primary problem on HIVE.

So, lets say one upvotes an auto-generated burn post. This upvote will take funds from people who worked to write a post and give it to a robot.

Life on HIVE is marginal for outsiders. Very few people earn the actual cost of writing a post. So, I am not sure if reducing author rewards is a good thing.

I would like to see the dedicated writers on this plaform make more money and not less.

Lack of Buyers on HIVE Engine

Burning coins on HIVE Engine reduces the float of the coins. I am not sure if the float is the problem.

I've been actively trading on HIVE-Egine. It seems to me that the real problem is a lack of buyers. When I examine the trade history of HE coins, I see that many coins only have one or two active buyers.

The price of the HE coins have collapsed because there is a notable lack of buyers.

Even worse. The most active buyers on HE are bots. Some of the bots are associated with swap programs, but they are bots none-the-less

Introducing Buy and Burn

I created the @buynburn account last year to address problems with automated burn posts.

For the Buy-N-Burn program, I intend to write posts about different coins on HE.

The posts are all hand written. This means that they involve a human brain.

Rather than automatically burning coins, I will send the HBD and HP of the program to #HIVE-Engine.

I will trade the SWAP.HBD for SWAP.HIVE and then use the SWAP.HIVE to buy coins.

NOTE: I used the funds from previous posts to buy the 70 POB burned for this post.

The more upvotes I receive for this post will increase the number of coins that I can buy and then burn.

I believe that this process flow is superior to automated burns.

How I Benefit

I have several million HE coins in my wallet. I've been devastated to watch the value of the coins plummet. I registered this account because I wanted to do something.

My first thought was to write posts about the different HE coins.

I was put on the @spaminator list for the posts. I guess they think posts about HE coins are spam.

Being put on the @spaminator list was devastating.

I studied the other accounts with automated burn posts. #hivewatchers probably doesn't know this, but automated posts are closer to to true spam than hand written posts with original content and images.

After studying the automated posts, I decided that I could do something better.

@buynburn doesn't just burn. It transfers the HBD and HIVE earned by posts to #HIVE-Engine. IT then actively engages in trades before burning.

I hope that #HIVEwatchers won't put me on the @spaminator list if each post is handwritten and bares original images.

I do benenfit in a few ways. The @buynburn account rarely competes with my buying efforts and it will sometimes place buy orders near the BID price when I am trying to sell the coin at the ASK price.

There have been cases when I bought coins that I am not actively thinking of burning at the moment. In some cases I sell surplus coins to @buynburn simply to increase the size of the burn.

Which Coins Do I Burn?

The coins I buy is largely determined by the amount of money I receive for my posts. When I have limited funds I concentrate on burning coins that have completely collapsed like #trafficinsider and blog.

If I were to receive upvotes and had sufficient SWAP.HIVE; I would buy pricy coins like BEE and POB.

I also want to buy some of the comment reward posts.

I generally like to buy coins after a big fall.

For example #POB suffered a large fall at the end of 2023; So, I bought the POB that I will burn in an effort to help the price of the coin recover.

I am open to suggestions. If there are coins that you would like me to focus on; please tell me in the comments.

Comments on Proof of Brain

Proof of Brain and its side chain VerifyYourBrain are my favorite HIVE-Tribes. I like the tribes as they try to reward people for activities that employ the human brain.

I used part of my brain to write this post.

There are currently 7,402,825 POB in circulation. The tribe has a reported market value of $27,760. The price for the coin is $0.00375 USD. Sadly, trading volume is low. HE reports only $4.00 in trades in the last four hours.

The POB Rich List shows that the coin is fairly well distributed. Sadly it has started to become top heavy as very few retail HIVE users are buying the coin and an increasing number of people are dumping their POB as they earn it.

The richlist shows that people have burned 20,322 POB to date.

TribalDex shows that POB is involved in diesel pools with SWAP.HIVE, SWAP.BTC and CENT. Some people prefer trading through swap programs than trading on the exchange.

NOTE: There are bots on the exchange that automatically outbid any transactions placed on ASK ... which is really annoying.

It is wise to check the price in the pools before placing a bid on the exchange. There are several bots which do this. Most of the traffic on the exchange is from bots balancing the price between the pools and the exchange.

I often place bids just to force the bots to increase the price of the coin. For that matter, one of the goals of the buy and burn account is to increase the price that bots have to pay for our precious HE coins.

The Image

I asked DALL-E to produce an image of a brain on fire as this post is about POB. I think its a decent #meme. You can see all of my DALL-E creations on this page. Courts have ruled that one cannot copyright AI images. Feel free to modify reuse them.

Posted using Proof of Brain