The @buynburn account uses its HIVE and HBD rewards to buy and burn coins on #hive-engine .
I write each of the posts by hand so that I can qualify for the #POB and #VYB tokens ... which I will burn. Writing posts takes time; so I really haven't earned as much coin as I would like.
I generate the images for the burns on Night Cafe. I just created a collection of my burn images. AI generated images are considered to be near public domain. Feel free to use the images in your burn posts.
For today's burn I would like to incinerate 204,567 TIX worth an estimated $0.03. I created an image of a clown standing outside a burning tent for today's image.
TIX was one of the early tribal coins used by the Traffic Insider Community. The coin also triggered on the #trafficinsider keyword.
The coin had a shallow distribution with most of the coin owned by a few insiders. I followed the coin for a bit. It appeared that the insiders would vote on each others posts making it difficult for others to get rewards.
The HE tokens page shows the coin as a suppy of 137,109,091 coins with a max of 10,000,000,000 coins. I guess that means the coin owner could mint several billion more. It is clearly not an investment grade coin.
The price of the coin collapsed to 0.0000001 HIVE a long time ago. I bought the coins because I wanted to burn a huge number of coins. The rich list shows that most of the accounts have liquidated their coins and are pounced to sell on any upward movement.
It appears that the distribution account is still active. So, it is possible to buy a big pile of coins just to play with the economics of the coin. I believe that Newbies should play with the failed coins as it provides a way to study tokenomics without investing much cash. Come on ... 200,000 coins cost just $0.03 .
The price of the coin can't drop below 0.00000001. Although there are often no buyers at that price.
The TIX experience shows that a coin needs a broad base of users. Most importantly, the members of the tribe need to be dedicated to the long term success of the coin. I plan on burning all the coins in my wallet.
I will use the earnings from this post for future burns ... and I will burn any coins earned by the post.