Hello everybody! It's a nice quiet Sunday morning and I overslept so I did not get to watch the falling price of BTC and most of crypto in real time, but that's life. Rising and falling prices are the things that we just have to live with. It's the reason we can gain profits and also, at the other end of the stick, incur losses.
That said, the value of my crypto holdings just fell around 30% or so. It's not entirely unexpected since we've been having a blast with BTC price rallying since January of 2023: That's 15 months! So, with that, I can't blame myself for not selling everything and holding value.
Heading on to Hive, I'm still not going to panic sell. Paper losses are just that, an unrealized capital loss. Meaning, you don't lose value if you do not sell. The irony of this is that the price will go up, eventually. And what we do in between will determine how much loss or profit we will be seeing in the future.
Looking at my off-chain activities. I've invested in joining a cooperative a couple of months ago. I've also tried getting a loan and bought Hive with it when the price of Hive was at 0.29 cents. Ironically, it's exactly where it is sitting now at around this range. Having bought and sold as the price went up to 0.49 cents. I've manage to slide some profits in and bought some NFT's and Hive Engine tokens with it. It's not entirely a loss for me that the markets are down. We just have to wait now for the price to find stable support levels and buy some more Hive.
Going back to the loan I made with the cooperative, I tried out a small amount (around US$80) and was able to buy around 265 liquid Hive with it. The loan is payable in 6 months, but I can choose to pay it sooner. At 5% interest for the 6 month period, I have earned more than the interest from crypto trading, etc. It's a nice source of funds, especially with the low interest rates and flexible payment options. Plus, I get to earn interest on the share capital and savings, which makes this a favorable loan instrument versus credit cards, fintech loans or even from a bank. I'm planning to open a business this year so having different sources of funds open will come in handy, especially with the uncertainty surrounding us all around.
So, that's my blog for today. I wanted to keep it short and sweet, but I still managed a few more words than I would have liked. Anyways, wishing you all a restful and enjoyable weekend.
Love and peace!
@juanvegetarian😎
*I edited a template from Canva for the image I used in this blog post. Here it is if you are interested ---> Image 1.
I don't have much HBD to buy, my order was triggered at 0.35 cents. Anyway, where do you get the loan? It's always nice when you know that you can get a profit from it — tried this before and I had a good experience after earning more than the loan interest. I guess it depends on how you manage your finances.
Good luck on your future business!
Sa cooperative. I'm sure there's one near your place where you can join. Once na mag member ka, pwede ka na mag loan, savings, join free seminars, network with other members, and enjoy other perks and privileges of members, like insurance, car/motorcycle loan, discounts in select establishments, free check up, etc. Depende sa cooperative na masasalihan mo ang services na pwede nila ibigay. Some coops have their own free clinic for the members so magandang organization ito. !PIZZA 🍕
Is there any fee and age limit?
From what I understand, Filipino citizens who are 18 years old may join. Some coops have kiddie accounts, junior savings, etc. where you can join if you are still a minor. Or, just have a guardian co-sign the membership and they will accept you as a member. I see that they are not as strict as other financial institutions because the concept is community based economic cooperation. Best to inquire with your local cooperative on their membership rules.
Thanks for the info, I might look deeper about this
Welcome. 😊
These are the fees for a full-fledged member, but you can opt for a lite account, where you don't have to pay the full share capital all at once. Click here to read how I joined a cooperative ---> My Coop Blog Post. 😊
$PIZZA slices delivered:
juanvegetarian tipped anonymous02
@juanvegetarian(2/5) tipped @ruffatotmeee
I just stop checking my wallet coz nakakaiyak ang pagka pula nya, lol. Another saddest part during this red market is I don't have a cash to add more in my asset sana. I'm not sure if its still a good time to buy, sagad naba tong pagbaba na to or baka may ibababa pa tomorrow pero sana I have more funds to buys. Kaka sad, huhu.
Yes, that's the reality of this situation. On the one hand, it's a good opportunity to get more tokens but we also need more funds to invest in assets. If not now, maybe in the future when I get access to more funds. Hindi natin alam kung hanggang saan ang support level ng pag bagsak eh. Sadly, mahirap ma predict, but we can make an informed guess based on the previous prices and past outcomes. Mag !PIZZA 🍕 ka na lang. 😎
Whats the other option in cashing out tokens in case binance will be banned?
Just find someone willing to trade pesos for your hive or hbd. There are other ways. You may check out HivePH discord for tutorials.