The #LOLZ token is one of many comment tokens available on the HIVE-Engine. The site lolztoken.com has the full scoop on the tokenomics.
Essentially, if one owns 16 LOLZ tokens the user can issue one LOLZ tip a day by putting the directive !LOL or !LOLZ in a comment.
The @lolzbot will will mint a tip to the recipient of the tip and will drop a joke in the comment section.
To encourage users to stack their LOLZ tokens, the @lolzbot appears to be giving rewards to posts that use the #LOLZ tag. HIVE Engine Explorer shows all the doings of @lolzbot.
There may be more up this trickster's sleeves!
If you know any of the LOLZ tricks, tell me in the comment section so that I can take advantage of them.
I like the comment rewards on HIVE as they reward people for being active on the platform. Quite frankly I think the comments are the ultimate #proofofbrain coin because writing an original comment to a post proves and verifies the existence of a brain. #VYB
Unfortunately, The problem with comment rewards is that many users sell the rewards as they earn them. This decreases their value.
I hope to include different comment rewards in the @buynburn rotation.
BTW: The @buynburn account transfers the HBD and HIVE rewards it receives on posts to HIVE-Engine. The account uses the funds to buy and burn HE tokens. Buying up comment rewards might help the smaller accounts on the platform.
The account hasn't received many upvotes. This is the tally of its burns:
| Coin | Burned | HIVE Value | USD Value |
|---|---|---|---|
| CENT | 614 | 2.127 | $0.92 |
| CCC | 2,676 | 1.163 | $0.48 |
| TIX | 1,478 | 0.000 | $0.00 |
| PAL | 631 | 0.093 | $0.03 |
| MEME | 1,104 | 0.141 | $0.06 |
| FOODIE | 1,694 | 0.237 | $0.10 |
| PAY | 278,484 | 0.046 | $0.01 |
| BLOG | 4,290 | 0.026 | $0.01 |
| POB | 70 | 0.743 | $0.26 |
| Total | 291,041 | 4.577 | $1.87 |
I just got a huge RC delegation from @yintercept. This means I can power down my HP. I will use all of the HBD and HIVE that I receive to buy and burn #HIVE-Engine coins.
NOTE: Sending HIVE and HBD to HE benefits the HIVE Ecosystem because SWAP.HIVE and SWAP.HBD are more likely to be used as a currency on HE than on HIVE.
Summary of LOLZ
The HIVE-Engine Token page said that there was a supply of 21,266,678 LOLZ tokens that were trading at $0.00282. It says the market cap is $59,972.
@lolzbot owns 19,739,995 tokens and @lolztoken owns 50,725 . These are the reward accounts.
I guess the real market float is 21,266,678 - 19,739,995 - 50,725 = 1,475,958 .
Multiply 1475958 by 0.00282 shows a market value of $4,162.
Four grand is a more reasonable total.
Unless, of course, the LOLZ Cartel is just taking us all for a ride. They are waiting for LOLZ price to pop at which point they will take our precious SWAP.HIVE and then duck back down the alley with some rolly-polly little bat-faced girl.
But lets think the best of the tribe.
After this post I will burn twenty #LOLZ.
I do the burn after the post because sometimes burning coins with a URL in the memo will put a post on a promoted list.
I think I will also burn 101 HUG.
A Great Big Hug
As I understand, HIVE users can distribute a HUG a day without owning any HUG. This is a great token for new users as they can start using it on day one. I hope to burn thousands of HUGs.
The Picture
To create the picture I violated the intellectual property rights of LOLZ Incorporated by pasting four of its logos on an AI generated AI generated image of coins burning in a furnace.
I think the burning coin picture is a fun #meme.
LOLZ Incorporated may not find this use of their logo amusing ... in which case my ass is grass.
Conclusion
The purpose of the @buynburn project is to promote coins on #HIVE-Engine . I hope to burn a substantial number of comment tokens this year. Let me know which coins I put in the rotation in the comment section.
