This post will start with a review of BLOG Token followed by a blog post.
An Analysis of Blog Token
This last year saw an explosion of web sites linking to the HIVE blockchain; So, I decided to write reviews for all HIVE related sites on Internet Rivers hoping that his effort might bring some traffic to the blockchain.
As part of this process, I've been examining all of the coins on Hive Engine.
Today I discovered that someone listed 8 million BLOG tokens for sale at just 0.00003 HIVE. I bought 50,000 tokens from the @yintercept account for 1.5 HIVE.
NOTE: BLOG token takes 365 to fully unstake. I staked my 50k tokens knowing full well that it would be a long term microinvestment.
It turns out that the seller was none other than the account that issued the coin: @blogtoken
This big sale must be a drive to get people to use the token.
The BLOG token appeared in October 2020. The token failed to gain traction. When I checked, The BLOG richlist showed just 43 accounts with 1000+ staked tokens. I staked my 50k coins and am number 16 on the rich list.
The token needs to have several hundred accounts with 1000+ staked tokens to succeed.
The fire sale of tokens in risky. If a large number of users bought a small pile of tokens, then the tribe will succeed. 8m tokens at 0.00003 is just 240 HIVE. Were a whale to buy the whole lot, the token would simply crash and have zero value for the public.
Anyway, I dropped my review on Internet Rivers. Since the token want blogs style posts, I will now write a blog post:
A Strange Thing Happened in My Corner of the Beehive.
I happen to live in the BeeHive State.
Utah is somewhat unique in that the early settlers in the area hoped to establish a theocratic commune. Most of the people in my neighborhood belong to this this particular religion.
People in this religion call the people who are not in the religion "Servants of Satan."
I was out and about last week. I ran into a neighbor who ended up inviting me to the July 3rd breakfast at the local ward.
My family moved into the neighoborhood in 1975. In 45 years, I've never been invited to any neighborhood events.
Usually people just whisper to their children as I pass saying: "That's a Servant of Satan."
BTW: I don't actually serve Satan. People in the Beehive state are just mean to folks who don't belong to their tribe.
This invitation really took me by surprised.
I suspect that the invitation was a mistake. I think they were wanting to invite someone else and I was in the way. So they felt obliged to invite me.
So, I wasn't all that keen on going to event full of people who make a point of not talking to me. But, this was the first time in 45 years that I've been invited to something.
So, I got up early and drank a cup of coffee. I then went to the event where I ate a wedge of watermelon and a piece of bacon.
I stood around for a bit. I lamented that I lived in an area for 45 years and only knew the people who were part of the local religion. I then took a picture of Fire Truck that was in front of the Stake House and walked home while planning my purchase of 50,000 BLOG.
Anyway, that was my great adventure. I was invited to a breakfast. It will probably be another 45 years before I am invited to another event.
I am not sure if I will write many blog posts for the token. I rarely do anything that is worth blogging about. The main thing I will do with my stake is curate other posts using the token.
Conclusion
To sum up my review of BLOG. This looks like it would be a great place for new accounts on HIVE. The buy in price is low, so small accounts could buy a thousand tokens for under a HIVE.
If small accounts bought and staked a few thousand tokens, the site would succeed.
I should end by recounting my experience with PAY. PAY is another distressed token.
I bought 23,596 PAY for 0.2420 HIVE. I've grown the account to 66,000 PAY. I've sold 22,858 PAY for 1.6270 HIVE. I think outsiders have better luck with marginal coins than with popular coins.
I just hope that a few small accounts take advantage of token fire sale. If a large number of accounts started blogging with the token, it could turn into a nice tribe.
Here is a picture of the fire truck. They had a bouncy castle at the event.
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