Everyone is familiar with the little pump that Hive did about 2 days ago. It is mostly talked about on X (Twitter), and it was encouraging to see Hive among the top gainers that day. These small pumps may appear insignificant in the grand scheme of things, but the benefit is substantial. Pumps are not just for profit; in fact, pumps like this should not be considered a reason to profit at all.
It is mostly selfish, two, it is probably premature, and three, it kills the upward momentum. Pumps like this have several advantages, one of which is psychologically beneficial.
The Dopamine Effect
The Dopamine effect of a pump like this induces happiness.
Take splinterlands, for example; some people are beginning to blame Hive for the game's underperformance. The reason they feel this way is due to what I call aggression transfer. For example, we mostly want to despise BTC for pumping independently and dragging alts with it when it drops.
People also want to transfer the aggression of the splinterlands to Hive, believing that the ecosystem is to blame, but this is purely emotional, and it is not true. It essentially means that an asset's price must rise before people can attach a psychological value to it. This is when people realize they need to buy even though they could have done so at a lower price. It is true that catching a falling knife is pointless, but in crypto, there is a gravitational force that opposes this saying.
A Feeling Of Satisfaction
So, a pump like this eventually creates a psychological feeling of satisfaction and happiness, and the feeling of seeing the value of one's bag increasing is satisfying.
A pump is now intended to generate profit, not by converting to dollars and selling, but by trading and profiting. Selling is not the only way to make a profit. For example, if we have HBD, selling Hive for HBD at this time allows you to buy more HBD, and if the price of Hive eventually drops (which it should because the pump may not last long), you can use that HBD to purchase more Hive.
A person who does this for several months or even a year will significantly improve their standing and gain more money. The internal market is undervalued, and when used correctly, these tools can be accumulation machines.
Aside from that, there are also marketing purposes. Being a top gainer for even two weeks out of 365 days (intermittently) is a marketing campaign in itself. I saw the positive vibes of people who are using the gains to tweet on X. It felt good for them, and I could sense their free spirit.
A Buy, Or The Koreans?
I can't say
Now we really don't know if it's a person that's buying or if it's the Korean. Most people do not care about the source of a pump or the archetype; they just want to make a sale. Sometimes knowing the source is necessary to keep up. The Koreans did pump the coin (Hive) a lot before the last bull run and even during the run. They are mostly known to do this for fun and for personal reasons. However, until the market is truly bullish, it is a bad idea to sell; instead, increase your liquidity and position if you already have liquid Hive.
I do not have any liquids, and the ones I do have are primarily for powering up. I do not delegate for any reason other than to help others who want to grow. I have fallen short of most of my goals due to chronic medical conditions, but I am not worried because I have faith. Again, it is your responsibility to fight for the improvement of the chain; it is rewarding in the long run.
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I believe it's wrong to induce hope in people when you know the outcome. Because they will buy at a pumped-up price and then it will crash and they will blame you, even if not openly. That's why I don't do it. Or maybe I do it at other times because my analysis is wrong. I could have shut up, of course... Maybe I will, next time because I see by reading some posts people had some hopes that were shuttered.
This was not the type of pump that would hold. The only way the price would have held, was if the market started to move up during the P&D (which at some point may have been possible with Bitcoin simulating to go up as HIVE tried to find a floor halfway down).
I also believe, like you, it is kind of stupid to sell HIVE to fiat at these prices, pumped or not, unless you have no other choice. HIVE will reach higher prices by the end of this bull market. I don't believe it will be $10 as some hope, but at least a couple of times the price it is at now. Which makes it a wrong move to sell now and go away.
Regarding the publicity these pumps offer Hive, I half agree. Yes, Hive becomes more visible. And yes, some will look at Hive for the right reasons. But mostly, it will attract other pump-and-dumpers.
As for the connection between the (in)successes of Splinterlands and Hive, I don't buy it. When people are salty, they keep finding reasons to cast blame. And I still see Splinterlands itself experiencing some sort of an end of a bull market (hopefully). While many are lamenting, I see some people are talking about completing their alpha and beta sets at a cheap price. Not everyone thinks from one day to the next, or one month to the next.
While a P&D (a word of caution for anyone reading this: not all pumps are P&D!) can be a small opportunity to sell on the pumpers and then buy back, and thus, make a short-term profit, the most important part is the long-term plan. Small (or even big) short-term gains are in no way a substitute for a proper long-term plan, in my opinion. That's what should prevail.
Thanks for the amazing comment, a lot of people are thinking it's a pump that's finally here to stay and I made sure to tell them that I think this pump will not last, as we've finally seen.
Hive will majorly attract people for many reasons, most time I hope it does attract people more for the right reasons, people who have plans to grow and establish and play their part. I tend to think Hive is a place where everyone can win while Hive can also simultaneously win, and sometimes we cannot stress enough to people to do the right thing.
I already see a lot of people blaming Hive form what's happening to splinterlands, they think the chain is holding splinterlands and they're tired of waiting for a pump or something like that. Like you've said, I think it's frustration and saltiness, but then sometimes I blame this long bear market as the reason why a lot of people seem to be losing it.
If I had liquid Hive myself, I'd be taking advantage of this. It's very important to actually think big and take opportunities as this rather than just seeing a little pump as an opportunity to sell
Yes, I see them too. But let's not forget 2021, when Splinterlands "went to the moon", regardless of it being on Hive (even tighter than it is now). So Hive doesn't stop Splinterlands from going parabolic. Does it help, though? To be honest, I prefer 100% a game on Hive than on a chain where assets don't move because of the fees, the congestion, or if you have a side-chain only for that game to avoid fees.
But it's a matter of perception. Someone on Solana may trust that ecosystem more than I do, for example, and if Splinterlands were there, they may feel it would go up up up together with all the meme coins.
Yep, I lost quite a few of such pumps due to a lack of liquidity. If someone only takes this P&D in isolation and is happy with a little profit, that's indeed small thinking. I see it as a contributor to a snowball effect in the long term. Same as author or curation rewards, for example, only from a different "category".
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Thank you
Well in as much as every one would like to sell to feel good it's still not a bad idea when it comes to making sure that you also not sell everything. We just hope that more investors come into the Hive Blockchain and it would help boost the ecosystem . Also can you please give more explanation about the benefits of trying to power up in the hive blockchain does it increase reputation ?
We can also do better for ourselves, we need to attract what we want for the chain, so everyone has a role to play. It's mostly good to sell when it's the bull run. It helps the Blockchain
I agree, the long term picture is what's important. If you have liquid Hive you could sell if it looks like the pump is over and buy back in after it bottoms out. But there's a lot of risk in that unless you time everything perfectly, which I'm sure I wouldn't do... It's part of the crypto fun, rollercoaster ups and downs.
I can't even imagine any sell at the moment. I'm currently broke and scrapping for money to take care of my medical bills, but I'm holding on. The market is dicey and personally, I think everyone should hold on for the bull market, it'll help Hive and also the ecosystem.
Yeah, I'm hanging on too for now, I think it's way too early to even think about too!
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I don't really plan on doing anything but I do agree that the pump does move emotions. I think that the volume on Upbit does kind of prove that the Koreans were involved to an extent but I don't know if they are responsible for all of it.
I think the Koreans are responsible. It's probably why the pump didn't last.
Wow good advice man.... Absolutely thrilled with the Pump.. I can't say I saw it coming because I seriously didn't. But I felts it's impact on my account and checked to see that awesome pump
It's doesn't stay pumped forever, infact it's beginning to drop again. It means the pump isn't organic, until it's time for the bull run
Wow I think I understand the pump mechanics.now🫡🫡🫡🫡 thanks bruv
These mini pumps are seen quite rare compared to what we used to get before, that's something interesting.
This time I had a different feeling about pump.. had good volume and didn't retraced like before.
Satisfaction after these pumps is awesome, will be too excited when it'll break multi months downtrend.
Don't think Korean pumped it cuz when they do it shows goes on..
!PIZZA !LUV
I think the Koreans did pump this one, it happens intermittently and I don't think it was an organic buy, however at the back of my mind I wished it was..
Maybe, either way it is good we getting some spotlight again.
Everyone is just saying “the Koreans”😅
E no concern me. Make e sha pump😅😅
The Korean pump means it's not organic
Good stuffs to know, and that desesperate action of some people selling those hive low price have that as result, a bad energy and hate transfer how u say about splinterland.
$PIZZA slices delivered:
@idksamad78699(5/5) tipped @josediccus
Whenever such a pump hits, if you are a short-term investor, you should definitely book a profit here, because the prices will definitely go down again, then you should buy again, the way it is priced again. It is in the same place.
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