Hooray!
Look at Me!
Look at Me!
I now have 50K FOODIE in my account. I am position 26 in the FOODIE Richlist!
HIVE Engine says that my FOODIE is worth $1.99.
Oh my, that is less than the price of a dozen eggs at my local store.
So, I took a picture of a dozen eggs.
A calico rooster got into the hen house. The result is that every other egg is now brown.
IMHO The biggest problem with the FOODIE tribe is that there is too much FOODIE in the upper tier of the richlist. The top 20 accounts hold 40% of the FOODIE. This concentration of FOODIE creates an unbalanced ecosystem.
FOODIE needs more dolphins and fewer whales.
BTW: My goal is 100K FOODIE. Any more than that would make me part of the problem and not part of the solution.
I am writing this post because I want to encourage members of the FOODIE tribe to actively engage in trading the FOODIE coin.
The biggest challenge to trading on HIVE Engine is that the platform is dominated by evil bots.
The evil bots like to maintain a huge gap between the BID and ASK so that they can profit from their evil ways.
Now that I've reached my first goal, I intend to keep active buy and sell orders online. I like to place buy orders just over the BID price and SELL orders just under the ASK. This forces the bid bots to close the gap.
Seriously, members of the FOODIE tribe could improve the community by placing buy and sell transactions between the BID and ASK price.
Sadly, most users don't do that. They place their buy orders at the ASK price and sale orders at the BID price.
Placing orders at or between* the BID and ASK price creates something called "liquidity."
Increasing liquidity increases the value of the token.
Remember, liquidity goes in both directions. Investors have a hard time buying FOODIE at the BID price as the bots will instantly outbid any buy orders. They are discouraged from buying at the ASK price because of the huge gap between BID and ASK.
A smaller gap between BID and ASK would encourage more trading. This would improve the value of FOODIE and improve the tribe.
BTW: If you examined the FOODIE richlist, you would notice that large accounts have tremendous volumes of liquid FOODIE that there are likely to dump on the market. What has been happening on FOODIE for the last several months is that the price of the coin will slowly increase; then a whale will dump coins and knock the price down. There is a good chance that you bid will execute even if the bidbot trolling the ASK price auto outbids you.
Stacking Orders on the BID or ASK
The evil bidbots automatically outbid your transaction. So, if you want to buy FOODIE, it is often best just to place your buy order at the BID price. This stacks your order behind the bidbot. Your buy will execute when a large transaction occurs.
Parsing My Account
I decided to become a dedicated FOODIE Curator 8 months ago.
HIVE Engine Explorer shows that I filled 48 pages of transactions in this epic quest.
I parsed the transactions and this is what I saw:
I have 50K staked FOODIE which is worth 5.05 HIVE at the current ASK price.
It appears that, in the last eight months, I bought 48944.04671 FOODIE for 9.51263004 HIVE. I've sold 2952.92653 for 1.24429618 HIVE.
This means that I am in the hole 9.51263004 - 1.24429618 = 8.26833386 HIVE. So, if my FOODIE is worth 5 HIVE then I am down about 3 HIVE.
My tabulation shows that FOODIE transferred 2145.0829 FOODIE to my account and staked 2145.08289 to the account. That is 4,290 FOODIE in earnings which is worth 0.43 HIVE which is worth about 16 pennies.
I don't feel bad about the fact that I am earning nothing. I feel bad that the FOODIE rewards I've given out aren't worth much either.
Dang, My account has only delived sixteen cents in FOODIE rewards. I really thought I was helping people with my upvotes.
My Current Curation Direction
- 140 WAIV worth $7.41
- 1700 POB worth $6.61
- 6,800 NEOXIAN worth $4.29
- 4,355 VYB worth $2.35
- 10,000 PHOTO worth $2.00
- 50,000 FOODIE worth $1.89
- 5,345 CCC worth $1.58
- and 10,000 PAL worth $0.02.
My #WAIV vote and #POB vote is worth more than my #FOODIE vote.
I usually just upvote random posts on FoodiesUnited.net.
When the main foodies site is down, I upvote posts on ProofOfBrain or Hive Photo
Conclusion
I was really excited to achieve my goal of 50K FOODIE today.
I was a bit embarrassed when I realized the low value of my goal.
Personally, I thought that the FOODIE tribe was a marginal tribe when it was launched. FOODIEs are more interested in preparing food than in speculating on HE coins.
Now that the price of the coin has collapsed, I think that it is great time for members of the FOODIE tribe to start investing in the coin.
FOODIE needs more users that hold between 10K and 100K FOODIE.
Buying on HIVE Engine is a downer.
There is a bot that automatically outbids buy orders. The best way to beat the bot is to place your buy orders on ask.
The gap between BID and ASK is absurdly large. Members of the tribe could help improve the coin by placing sales under the ASK price. This would help investors who want to buy FOODIE to curate FOODIE content.
Having achieved my first goal of 50K FOODIE, I intend to just actively place bids on HIVE Engine. The market value of FOODIE should be greater than $985.
With all that said, I need to figure out how to deal with the Calico Rooster that has the hens laying checkerboard eggs.
Posted via foodiesunite.net