The @buynburn account is burning ALIVE! This account transfers its HBD and HIVE to #HIVE-Engine. It then uses these funds to buy and burn HIVE-Engine coins.
I am doing this because HIVE-Engine seems to be suffering a lack of buyers.
I Made a Mistake and Lost Money in the Swap
The primary mechanism for sending HBD to HE is through the @graphene-swap program. You need to send the HBD with the memo "SWAP.HBD xxx" where xxx is the recipient account.
If you forget the memo or make a typo; then @graphene-swap will keep the money.
End of Story. That's it. When a HIVE based swap misfires, the money is gone.
Period.
You would think that a swap company would have a default action for transactions. It seems safe to assume that anyone sending HBD to @graphene-swap would want SWAP.HBD. If that assumption is too wild; one could just program the default action of bouncing the coins.
But, @graphene-swap was either created by people who are malicious or who are second rate. I like to think the latter.
I Am Burning ALIVE
ALIVE is one of the better run tribes on HIVE. The tribe has the active domain WeAreAliveAnd.Social. The tribe runs regular hunt contests such as #larryisalvie .
The coin has a relatively low interest rate. The coin has a generous drip program. Users who own 1000 ALIVE can use the "!ALIVE" command as a comment reward.
The best way to learn about the tribe's rewards is to examine the @youarealive account on HIVE Engine Explorer. The @aliveandthriving account highlights the tribes curation efforts.
HIVE-Engine tells me that the coin has a supply of 2,086,208 coins and that it is currently trading at $0.00454 (0.01510000 HIVE) for a market cap of $9,471.
Wait a second, I am the last person to buy ALIVE at the ASK price. The coin has futher to fall!!!!
Here is a snap shot of the trading graph:
The chart shows that ALIVE was trading at well over 0.03 HIVE. It just fell to 0.01 HIVE.
It lost 66% of its value.
Considering all of the use cases of ALIVE. I think $9K is a good market cap for the project. However, I would not be surprised to find that the people dedicated to the tribe aren't getting burnt out.
After I publish this post, I will burn 17 ALIVE. I will also add it to my rotation of coins to burn.
I would burn more, but I am limited by the upvotes that I get for my posts. Also I lost the HBD for several posts because I foolishly forgot the memo in the transfer to @graphene-swap.
BTW: If you would like me to buy and burn coins for a given tribe ... please tell me in the comments. I want to focus on coins that have already had a significant tumble as is the case with ALIVE.
Image Credit
I bought the right to display the image at the top of this page from the account anpet2000 on BigStockPhoto. I get a free image a month. I wanted a happy image for this ALIVE burn.
