In recent days I have removed myself from crypto almost 100%. Besides a few brawls in Splinterlands and some secondary Hive token activities I did not do much more. I am simply sick of seeing crypto prices crashing through the floor. From BTC to Hive and then some its is difficult to watch after all the years I have been investing my time and energy toward it there just never seems to be an end in sight for the downtrend.
I have a ton of secondary Hive tokens that are nearly worthless and exchanging for Hive is no better since Hive prices are near its all time lows. Then there was my realization that current free play in Foundation meant that all rewards in the league were mainly worthless. I was not aware that Foundation cards had no collection power. What I was aware was that they could be burned for glint but even the amount of glint earned would barely move the needle for any form of earning.
Add insult to injury SPS price relative to USD remains on a downtrend. I have been trying to stay positive and believe in adding more in order to see through this and hope that I am buying at a low. Yet consistently through the years the returns for the time and energy spend continues to decay toward a value closer to zero than anything positive.
Maybe if I do leave the space the whole Hive ecosystem will boom in price. I'll let the automation earn interest on my staked HIve Power and staked SPS. That is something worth thinking about because I am getting tired of watching what I have earned slowly decay toward zero.
Side bar it appears likely that the burning of CA packs will come to fruition soon. The draft proposal has significant approval rating. This will limit the amount of packs going into circulation unless there is some type of huge boom and players continue to buy up all the daily packs needed to avoid burn. It will push out until early next year when there could be a boom when limited packs are left but the jackpot rewards are high. Will keep an eye on this in the coming weeks.
Until next time thanks for reading!!!
I have plenty of other cards for rent! Just go on peakmonsters and check out the market place and if you are curious what I offer here is a link:
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Posted Using INLEO
I had the same realization about foundation cards. The only utility I see is the addition of cards that can be used in battles. As for automation, it is good that you have such an option.
I would not admit I was an OG in Splinterlands but I did start playing since it got rolled out in 2018. I am worried even if I automate earnings it will be a slow and painful drawdown as asset prices continue to fall.
In my case, I joined Splinterlands during its peak, late 2021. At that time, 870 SPS is close to $1,000. Now I have close to 12k SPS, and it's worth less than $100. The value of the cards too continues to decline.
I hope you're at least stacking some LEO. It is now a deflationary token with sustained buying backed by actual revenue generated by the different mechanics built and in the process of being built. Market-making for arbitrage, revenues from LeoDex, AI, bridging fees, staking yields paid in USDC, and more. It hasn't managed to de-peg from HIVE yet, but it's coming. There are now close to 5M tokens locked away forever and the number grows every single day. I'm not saying it's going to happen overnight, but at least you're not getting diluted to nothing while the whales continue to make free money.
Missed the boat on LEO. Sold most of mine way before all this happened. Hope it does succeed because as of now it does not look like any hive related project has lasted long with valuations higher or at least stable.
It's rough in crypto, and I am mainly doing foundation for the cards in Modern. However, I did not know about the no collection power. Can't you sell the foundation cards on the market? I guess the base price might be quite low, or are they soulbound?