@buynburn uses its HBD to buy and burn coins on #hive-engine.
For the last burn of the month, I thought I would take a gander at #blogtoken and put a few thousand BLOG to the torch.
NOTE: I used DALL-E to create the image for this post. It show a person sitting on the floor "facing right" while writing a blog. DALL-E does not know the difference between left and right.
Now for the token: BlogToken was one of the first HIVE-Engine tribes. It had the URL "blogtoken.io" and gave rewards for the tag #blogtoken.
Last April the distribution account @blogtoken sold its remaining tokens to @imagenius.dac . This utility account was one of the first investors in the token. So, maybe there are plans to revive the token.
I believe that there is great benefit to having a token that rewards run of the mill blogs.
For that matter, I bought just shy of 200,000 BLOG to support the tribe. This page shows my current account holdings
Sadly, the token was one of the first tribal accounts to implode.
The main problem with the token can be seen in the BLOG rich list.
The top ten accounts own 90% of the BLOG coins. The list itself is extremely shallow.
On the upside. The tribe has distributed most of the 1,000,000,000 maximum coins. The top accounts that hold most of the BLOG could do something with the coin ... if they chose to.
It would be nice to have an alt-coin that supplemented accounts engaged in the fine art of blogging. Who knows? Burning a few coins might help in the effort. This page shows the coins I've burned ... which is determined by the upvotes on the posts.