So I've been acquiring and powering up more Proof-of-Brain tokens recently. I now own around half a percent of all tokens in supply. Sounds like a lot, and it is. By my own definition that's five whale's worth of stake. However, in terms of USD this is still less than $1000 at these prices, so I'm not too overextended considering my larger portfolio. Also a good chunk of that stack was "airdropped" onto me by @onealfa and the rest of the POB community, so I'm grateful for the "free money" and am looking to show a tiny bit of support.
What's up with POB?
Is this a recommendation to purchase POB tokens? Hardly. I've made my stance crystal clear. It is unacceptable that the dev team is taking a seemingly permanent 10% premine without even providing liquidity to the market.
On top of that, the inflation schedule mimicking Bitcoin is absurd on the long term. Deflationary economics aren't going to work for a community token that depends on yield to function. It's a good thing there won't be a halving event for 4 years, meaning the current inflation schedule is hyperinflationary in nature despite the claims of "only 21M tokens". Still 20M tokens left to go, so yield is still exponential at the moment, just like it should be.
So why are you stacking POB?
Isn't it obvious?
I do it for the triple threat!
I take notice of new communities being forged on Hive, and POB is one of them. There is a defined group popping up, and that's powerful. If a new token popped up for all the Venezuelan girls doing makeup tutorials I'd probably jump in on that too, because people matter.
The real reason I added on a tiny bit more POB is that now I have a significant upvote on all three platforms (Hive/LEO/POB).
100% upvote:
- POB: 5.5 coins
- LEO: 5.2 coins
- Hive: 13 coins
This gives my account a significant amount of clout across all three communities. Even in the face of these extremely depressed markets my 100% upvote adds up to more than $5, and I can do that 10 times a day. Pretty wild considering my circumstances.
It's just a crazy situation, being able to distribute three kinds of currency at one click of a button. That's powerful stuff, and as far as my own branding and reputation is concerned, I enjoy being able to consolidate all this power into a single account while swinging my votes around liberally. Hardfork25 has made this even easier because now I don't have to worry about what I upvote or when.
The charts at large got an unexpected 'pump' up today, which was nice considering the dire circumstances of this weak market. I think whoever pulled the trigger there got a little too excited and wasted some money on slippage. Don't be surprised if we touch down to $30k again before any kind of potential reversal comes into play. Goddess moon will be here to support in 2 days, so maybe we got a little early bonus on that front. The real resistance is in the $40k-$45k range, so the next few weeks should be interesting.
The craziest thing about these markets is how badly they get in our heads. It always seems like we should be navigating these up and down swings with ease, but rather they always seem to get the best of us in the long run. All we can do is watch in horror as the price goes down, knowing that if and when we sell we probably sold the low. No one seems to have a problem with number go up. Perhaps we should be DCA selling more often to buy them dips. Do as I say, not as I do. Easier said than done.
CUB IDO
I still patiently await this new tech to get unlocked and millions of dollars worth of CUB to be destroyed forever. If accurate, this will almost certainly not only jack up the price to the max, but also increase yields in the LP farms quite a bit as well due to less competition to provide liquidity. I can wait.
Soon™
It's hard to believe that this will actually happen, but @khaleelkazi has a pretty good track record and a finger on the pulse of these things. And what will I do if CUB moons? I'll do what I always do, which is use the value from my over-performing assets to buy back into the underperforming assets. This is the best way to "buy the dip", not in terms of USD, but in terms of the pairings to each other.
So yeah, if CUB moons, probably buying Hive, LEO, and Bitcoin with it. Pretty standard stuff from my end. I've stopped looking for projects to invest in. I found the ones I want to support, and I constantly rebalance my stacks when one of them gets a pump/dump. This strategy has worked surprisingly well thus far. Go with what you know. I'm too set in my ways now to be chasing shiny new things. Maximalism here I come.
Binance
On another note, being part of the CUB LPs forces me to have huge positions in BNB, which is also nice. BNB has been a top performer since before 2017, and nothing has changed. I'll always remember when I decided the fair market price of BNB was $12. Yeah, it's a bit higher than that now. Spoiler alert: it's never going back to $12 short of complete systemic failure. Something tells me CZ won't let that happen. Call me crazy.
If I had to guess, new fair market price for BNB is $250, quite a jump from the previous $12 I had in mind. Binance Smart Chain is serious business, and the next time Ethereum is flooded by $300 transaction fees we will certainly see the overflow into BSC. The CUB bridge is a nice tap into that inevitable liquidity stream.
Conclusion
Being able to print new money out of thin air at the click of a button is extremely powerful, and this critical feature is going largely unnoticed within the cryptosphere. Why is that? Likely due to the fact that DPOS is still considered a joke by the higher cap coins (maximalists), in combination with this silly notion that deflationary economics are superior, and hard-capping supply is a good idea. This is clearly the wrong mindset to have, but it's going to take a lot of time in the field to prove otherwise.
As far as the speculative market is concerned, I'm still quite optimistic for August, while late September has always been the most consistent time of the year to buy.
Trade carefully for me.
You know I won't.
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😂 Will do
I've been HODL'g and laddering down through the dip, buying small amounts.
Next time there's a rise I will start selling small amounts, waiting for the next dump.
Maybe not though. HODL'G is in my DNA I reckon. 😂
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Your constant blogs and commenting about having a balanced portfolio means I will be gently selling some of my HODL bags next bull cycle. I probably won't be fully balanced but I'd like to be a tiny bit balanced. Ideally, I'm thinking about going in on the beltUSD on CUB with it.
Its scary though. It kind of feels like that is one of the hardest things to do, stack sells during a bull. At least for me it is.
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Ah, good old Michael Skarn! Interesting thoughts you have here. This was a really good read! You have convinced me to start powering up all of my PoB again. I had been only power up half of it! I need to get those accounts growing and compounding!
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Boom! Nice stake on PoB. Did you buy it? I've got a top 150 but only minting 2 per 100%.
Man 13 Hive per upvote nice stuff.
I'm still trying to get there and I will eventually.
Well done on the account creation.
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interesting strategy, mine is a bit different. when market is down, i increase my positions on main portfolio crypto, when market is up, i exchange all the profits into stablecoin. worked well until now. and always, when something suddenly goes up, i send 1-2% to bank to treat myself. (and when i say treat myself that means buying stuff i sorely need like a washing machine lately and probably a sofa next when the market goes up, he he).
Well now that we are back in that range, I am wondering if we break back under 30k or not. It looks like BNB and MATIC have been taking off probably due to the ETH pumps earlier.
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I'm here for the tags.. and the meme's.
In some ways, Creative Coin has become that token. At least when I curate the tag, they all seem to be using it (and to be fair, a few are artistic enough to warrant CCC).
Always. Like Warrent always says look at stock companies in areas where you are knowledgeable.
That's 50$ a day in these bad times, too good.
Don't lie, you there for the booty. LOL
I have a hard time selling, mostly I just hodl.
But damn, I should start keeping some liquid Hive in reserve, ready to sell whenever it has one of its 35% up overnight pops, and then buy back 7–10 days later
Hodl and stake :)
Three tokens distributed with the click of a button. Looks like a good deal.
I also like your bear market trading strategy. When one goes up support the weak guys.
Congratulations on leveling up in three tribes. You have put your money where your mouth is, and influence follows stake here, which is not a bad thing. DPOS is like democracy, it’s pretty much the best system we have right now. But it requires participation and the desire to grow your stake to make it work.
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I am not sure how much of a market there is to buy POB, but I have been wrong before.