The price of DEC has reduced lately but I realized that even in this bear market, the price of DEC is more than the soft peg value of 1$ per 1000 tokens. I wanted to make use of this opportunity and sell some DEC. I receive close to 60k DEC every month for renting my cards as rental income. Sometimes it is 50k and sometimes it is 60k. So far I kept it only in as a balance on Hive Engine targetting more SPS rewards. But now I thought I should be booking some profits from it.
By selling DEC I was supposed to get only 100$ but just because the price of Hive is below 50 cents right now, I got over 200 Hive for selling my DEC. If in case the price of Hive pumps back to 1$, I would enjoy double the benefits and double the value. It is not like I don't want to hold DEC but I was thinking it would be a good choice to book some profits whenever I can. Another reason would be to try and get some SPS with the DEC I receive than focusing on holding just DEC alone. There is a high chance that SPS can pump high when the validator nodes are available. Already the price is somewhat good I would say. People are trying to purchase and accumulate how much ever they can afford.
I have a total of 300k more DEC tokens with me right now. Sometimes I think it would be better to keep them inside diesel pools but then I think it is okay to keep them as it is as a balance probably. I already have a decent amount of DEC in my Diesal pool. It has been there for a while now if I'm not wrong. I have to be good at managing the cards I have set for rental in the market. This is something that I have been thinking about for a while now. Most of the time I miss updating the price of the cards and end up earning a low rental income. Even though the rental markets are amazing, it is amazing only if we make proper use of them.
There is a high possibility that the price of DEC can go down after another 60 days when the airdrop is over. People may not be motivated to hold their tokens tight because there will be no rewards for holding them. But it is already too soon to see the price of DEC reaching around its soft pegged value.
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I think that is a decent trade but I honestly prefer to re-invest the DEC into cards so it increases the DEC income I get. However, I do think taking profits now isn't a bad idea and it's always good to take some profit. I am doing so using the VOUCHERS.
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Its going to be fun to watch what happens when the airdrop ends.
Splinterlands has shown to be a great long term hold so I will be quietly watching and making minimal moves.
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Yeah reinvesting is a good idea. But I think profit booking is also important. So maybe good time to book profits right now.
I am booking profits a bit off the VOUCHERS so I feel safe re-investing the DEC.
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Well done.
Selling the winning asset is not an easy thing to do.
I would love more HIVE, but keeping DEC only for the purpose of airdrop.
It will be interesting as we get closer to the end of the airdrop.
Will DEC go below peg when there is no longer a good reason to hold so many?
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Is there a mechanism to control the price dipping below the peg? or is it just a speculative peg?
The issuer can buy it whenever it is too far away from the peg. But will they? Or will it be left completely to the market?
If we can buy a Chaos Legion pack for $4 or 4000 DEC, meanwhile Chaos Legion pack is only worth $2.80 on Hive Engine, it alone is insufficient to keep the let at $1 = 1000 DEC
From what I know, it's just a soft peg so there is no mechanism outside of being able to buy things from the shop cheaper using DEC compared to using CREDITS. Before Splinterlands pumped, the DEC was regularly under the soft peg.
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I agree with this. Its a soft peg and becomes a way to buy "cheap" cards and stuff.
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BEER.What pegged value? Is there anything backing that up?
I think dec will crash whem people start selling their pools.
Wait and see what will happen as soon as people start selling it like you did.
It can maintain peg, as long as you can convert it to credit at $1 for 1000 DEC
I also have the same feeling. But let's see how it goes.
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Wow - that is a nice income from your rental cards ! I noticed the staking APR for SPS jumped recently, so I've being generating what I can from both the airdrop and staking to take advantage of that APR.
But as you've pointed out, I do wonder what will happen to prices after the airdrop. If DEC goes down, I'll may change what I have into cards.
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I think the staking APR pumped because of the validator node sales. Maybe many people unstaked.
Yes - thats seems to be the common understanding ! Now that the nodes have gone, I wonder if they will restake and it will drop ?!
Yeah I was also wondering what would happen. Not sure though.
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Its fun when you have more than one option on what to do with your income.
Thanks for sharing your perspective.
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Thanks for the information. It is really going to help me decide what to do.
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