The Bitcoin bull market is well-underway, and many other cryptos are showing signs of life. HIVE is losing ground against the rest of the market, as it has since it began (and as STEEM has done since it began). Could NOW finally be HIVE's moment? Or, as has been the case all along, should it be sold for currencies that aren't constantly bleeding value?
With HIVE making new all-time lows against BTC (and the other cryptos) every week, and every month, one of the most reliable trades going could be selling HIVE for BTC. When the consensus is "it can't fall forever", it does anyway.
We still have viral campaigns of people encouraging each other to buy and power up as much HIVE as possible, giving each other rewards and pats on the back for doing so. "You're helping to power the blockchain as you build your financial future," is the neverending mantra.
But if the price does nothing (literally nothing) but fall, nonstop, forever, then WHEN is the right moment to buy? Unless you see some sort of turnaround coming, and a sustained bull market leading to higher valuations, is there ever a point in a perpetually-falling market that you should buy?
When I bought in, 3 years ago, I put 0.20 BTC (my crypt-life-savings) into several hundred STEEM. I believed that even if STEEM didn't rise in price (which seemed impossible as most people said it was going back to $8 and beyond), I could power up my holdings and use that to generate connections and income. I also believed in this blockchain/community, and felt my funds were better placed in a currency where they could be used for something (powered up), rather than my Bitcoin just sitting in a dusty wallet. I was putting my money where my mouth was. I was congratulated and welcomed to the club.
Results?
3 years later... after posting, commenting, and curating every day, putting full effort in to my content-creation, including part-time work/contribution from my wife and some of her model friends, my grand total is 10,000 HIVE. When I convert that back to BTC at current price (to do something else with it), I get 0.03 BTC. So my 0.20 BTC became 0.03 BTC, thanks to holding it on this blockchain, powered up. It took me 3 years of full-time effort and contribution, in order to LOSE most of my capital. I could have kept the 0.2 BTC AND three years of my life, but instead, I got involved here. And every month that goes by, the price falls yet again.
My experience shows that simply powering up a bunch of funds and then pumping out quality content - every day for years on end - isn't enough to bring success on STEEM/HIVE. (In fact, doing that is a recipe for losing 85% of your worth!) The main issue? The currency itself has not ONCE gained significant ground against Bitcoin or the other cryptos. Not once in 5 years. It has been a nonstop downward slide, and at this very moment we sit at the all-time lowest valuation for HIVE against Bitcoin.
It has never been cheaper to buy HIVE than right now.
Keep in mind, though, that the same statement has been true for years now. I have dozens of posts over the years, titled a variation of that sentence. Every year, it's cheaper to buy HIVE than the year before, no exceptions. Going into year 5, if you're thinking about buying, earning, or holding HIVE, the situation becomes...
And this is no ordinary knife!
- Everybody who has tried to catch it to this point has been sliced in half.
- This knife has done nothing but fall for the past 5 years.
- Despite what many people assume, there is NO guarantee that it can ever be caught (ie: there is no floor, and it can devalue literally FOREVER, just as it has for 5 years straight.)
Yes, now might be the time to buy, earn, or hold HIVE... but anyone who did so before today was premature, and would have been better off in literally anything else, including the dollar.
I'm just saying.
DRutter
PS: I wrote this article on LeoFinance. Have you seen the LEO price today? Parabolic!
Hive is at all time lows when compared to a unicorn asset that doubles in value every year. What a tragedy that Hive is not also a unicorn asset.
I'll be doubling my stack when Hive hits it's actual all time lows of 7 to 8 cents in a few months. blood in the streets time.
also my Leo stake is nearing the value of a single bitcoin... crazy stuff. they cant all be winners
Posted Using LeoFinance Beta
Heh well I think HIVE is more than merely "not a unicorn", falling from #10 to #200 by market cap during the last few years. But yes, I hope you hit your perfect buy target. I myself can't buy, only earn, which means my "buys" trickle in, week by week. I can't "save up" and "buy" at the right time... I just have to earn as much as I can, as often as I can. Which hasn't been a winning strategy so far, but yeah.
Maybe if Leo makes it to the big time, it will help drag Steem along?
Seems to be working so far, yeah!
I was thinking about buying, because it is so cheap. On the other Hand I am more thinking Steem since its the platform I originally joined.
You kinda make it sound like a Ballz of Steel position to buy Hive. I like it.
Yes, so did a reader of mine a year ago, after a very similar post. His balls of steel have withered to dried peas, crumbled, and blown away in the wind. ;))
xD
Now might finally be the time to buy!
Now might finally be the time to buy!
Now might finally be the time to buy!
Now might finally be the time to buy!
Now might finally be the time to buy!
Oh, be hive! Yeah baby :)
Reasonable.
Maybe there's no guarantee it will turn around at any point. Maybe it's going to continue lower.
But maybe it will still have advantages and uses. Free transfers are great. The blockchain has pros and cons.
It's discouraging but I'm still here.
Posted Using LeoFinance Beta
Glad you're still around. Me too. Happy new calendar and all the best in 21.
I guess that you will be disapointed with that invest of BTC to STEEM as you've lost (by now) the most of that capitals value but the fact that you're here posting in LEO will give you some expectations of benefits. Even if Hive keeps being dumped, your LEO will rise probably very soon and is also very probable than most of your LEO was obtained with STEEM/HIVE.
My intention with this answer it isn't to reprenish you for the rant though, I understand that this situation with Hive's price is very discouraging for all the people who invested here, I'm only trying to give you some perspective of possible success with that invest that you may be overlooking.
Cheers.
Posted Using LeoFinance Beta
Rant? I see my posts on this topic over the years more as analysis of the data, with a personal anecdote added to provide flavour and perspective to the facts. Perhaps you would understand my position better if you knew that I'm not an investor, in fact for the most part I don't like investing or people who invest. I'm a monetary theorist, and also somebody who believes in savings (a store of value) like gold/silver. I've also got some of my meager savings in crypto, but as I've explained, that was mostly lost through my participation in the Steem/Hive blockchain.
I'm not trying to make profits, though. I'm trying to preserve my purchasing power. If what I'm holding appreciates in relation to other currencies, fine, but that's not my main goal. But am I retaining purchasing power? Despite adding value through my content full-time, where 3 years ago I had enough to buy a used car full of food and equipment, now I have enough to buy a bicycle and backback. 3 years ago I had enough to buy a few ounces of gold, now I've got enough to buy a half ounce. No, I haven't preserved my savings. I had it in the wrong currency.
As for LEO I don't own any, so have not participated in this recent run-up in price.
More than simple rants, perhaps my posts will help others make informed decisions. For example, maybe people who believe the myth "it has to bottom some time" will read this and come to their senses. Unless someone can provide some evidence for that statement, in my opinion, there is NOTHING stopping the price and/or value of HIVE from dropping by 90%, every year, forever. It can always lose another 90%, and we can always add more decimal places and zeroes. There may actually never be a good time to buy/hold/earn HIVE, and it may be like a hot potato that is forever bleeding away purchasing power. So far we've seen nothing to indicate otherwise.
Trust me, I'd love to be proven wrong. When I transferred in, HIVE was nearing $10, and the common belief was that next bull run would see $100. It has been a nonstop bloodbath ever since. EVERYTHING has done better than HIVE, even completely unknown garbage tokens with no infrastructure or community.
But if $100 ever happens, even if I don't earn another token from today, I've already got 10k which would be $1 million USD. So yes, I'd love for things to turn around at some point, believe me :))
Rant is not the appropiate word, is more a complain in your article, excuse me, I didn't meant that your article wasn't well explained, also your analysis is reasonable given the circumstances. I should revise more my words as English isn't my main language, anyways I do have some reasons to think that you really had bad luck in the time you did your investment, as STEEM was in maximums back then, it's difficult to recover from that.
Respecting to Hive I don't really expect to hit a peak of 100$ 😅, not at least soon but I do have good expectations about this blockchain, you think that can be a permamently devaluated coin but I don't think so, because the lower price hits the bigger opportunity will be for people to build their stake here.
I do really think that if hits 0.06 $ (all time lows) people would invest more here as would be a huge opportunity. In fact I would be selling other assets in order to buy a big chunk if something like that happens.
LEO users also would be very tempted to sell if keeps raising and Hive hits lower values.
so I dont have LEO automatically (Joined Steemit in 2017). I actually need to make a new account and start over? that's pretty sad if true.
I think the economy of Hive/Steem is proven to not work. There is just too little incentive to buy in and too many ways people make money.
Who is even buying all the HBD/SBD ?
Your Leo account is the same account of Hive, I think that some people was airdropped at the launch of the token, I'm not sure what conditions you needed to be airdropped though.
I agree that the economy needs to be reviewed, especially all the related with HBD.
All the rewards are given in HBD and HP, and the DAO is funded with HBD so there is plenty of selling pressure there.
I respect your opinion here but you act as if the reason the price has gone down has nothing to do with user sentiment.
I would argue that the reason the price went down is that people were way too bullish about it when there was tons of corruption and shitty curation here.
A coin loses value when people lose faith in it. So yeah your sentiment contributes to hive losing value. It’s simply a supply and demand issue.
If you look at the tech and the community we are less broken than we have ever been, but if we lose hope now, game over. I think we have way too much potential to throw that away and we’ve fixed way too much for us to keep falling in value, unless the community and current investors abandon ship now, then yeah, hive is screwed.
The very same argument could have been made for bitcoin in 2018, almost word for word.
If we had started PR from the time Hive started we wouldn’t be down so much, and if we get it together now we will pull it back.
I’m sorry you feel like you wasted your time here. I don’t. I enjoyed all of it, and I made money cause I sold when steem was unsustainably high. And now I’m buying cause I want this place to survive and it can’t without buyers.
Anyway, no disrespect. I just think you should see yourself as an active participant rather as a victim of bearish prices, that how this place works and too few realize it
For being a new tech platform I see very little innovation in the last 3 years. The only thing that changed is topics became communities which I really don't like.
I think I will just not power down, that's more than most people I know did.
I started blogging on Blurt.blog in July and already earned $ 1,800 USD. I’d give it a try.
Riiiiiiiiiiiight LOL
Ha ha .... lol