Adding To The Stake
When I saw on Binance the price of HIVE was nearing 800 sats in the weeks before HIVE Power Up Day, I was in a bit of shock but not ultimately phased as I went ahead and bought up about 3k HIVE. At the time, withdrawals and deposits were suspended but all in all, it took about 2-3 weeks for them to sort it and then managed to withdraw in time for PUD!
A day or two after PUD, I'm just casually browsing through Blockfolio and out of interest, seeing what prices on other exchanges were like and OH MY WORD - 650 sats / 6 pence per HIVE on Huobi are you kidding?! It seems that when deposits and withdrawals are suspended due to upgrading wallets to match the latest version, prices become super suppressed. I couldn't help myself so I just offloaded some more filthy fiat and set some buy orders between 600-640 sats and about 4 hours later, they got filled.
If you need the money, fair enough but even when I was on STEEM for that 2 year period, these prices weren't as low. I ended up buying about 30k worth of STEEM between 9-13p per STEEM but now, with HIVE, the range I've bought in at is now between 6-9p per HIVE.
No complaints from me as I like the compound effect of staking and the associated benefits with it. Plus you can use the HIVE to trade on related dapps, community tokens (like I've also been doing). Even if HIVE goes down more, you can earn it back through a myriad of ways so I feel like I won't be losing out. However, even if it goes up to 1300 sats from here, that's double what it is now which is not really an unfeasible situation - this is my thinking anyway.
Transition Period
A lot of changes have happened under the hood with the last HF and I've heard from other Leo users that apparently there's still more "garbage code" inherited from STEEM to sort out although I don't know what it is exactly. The Hive developers are reshaping everything from the ground up and I think the emphasis now is going to be on making the underlying technology as slick as possible for other applications to build on top of.
Personally, I think the underlying/core layer is going to be optimised and will likely be marketed (assuming a marketing team will be employed from the DAO Fund) as a place for developers/companies to build applications on, like we see with PeakD, Dapplr, Actifit, Leo and so on. Then it's up to these companies to market their own product to the end user, which we're already seeing.
Things are still being built and developed of course, it's only 7 months old is HIVE. However, I was excited to read from Blocktrades that the changes they are looking into right now (and for the next HF 25) will mean that any future upgrades to the underlying tech will NOT require future hard forks, which is pretty huge really. It will mean that upgrades can happen without disruption to trading - that sounds promising!
As for the future use of the HIVE token itself - some think it will be a utility token eventually for witness and proposal voting along with RC pools that can be loaned out to companies wanting to build on HIVE, with the rewards pool moving off the underlying layer. That will probably be the likely scenario, with rewards for content creation etc moving to the community or Hive-Engine tokens on the so-called "2nd layer", for example crypto/finance related LEO token on LeoFinance.
But what do I know? I'm just a good looking chap who occasionally makes Drum & Bass music π All I do know is, it's cheap to buy HIVE and I'm looking to build my positions here and on the community tokens around Hive-Engine.
Is anyone else here a Looney Tune and buying up HIVE? How do you think things will shape up here? Let me know in the comments below!
Nicky
Posted Using LeoFinance Beta
As much as the time seems to be in our favour to buy some hive, as much I tend to save every cent due to the pandemic, so you are crazy little brother haha π€£
Haha yeah I think you might be right there little sister π
I think that as people struggle around the world and as alts aren't moving in terms of fiat they lose hope or want that liquidity so they dump at any price, for those who are financially sound its a great time to pick up undervalued assets. I do feel fair market value for HIVe is 25 cents so you're getting it at a steal, I do see it breaking down further before buyers start outcompeting sellers as someone or a few people need to set the new floor
Yeah exactly, times are challenging for all but if it's possible to buy then it feels like an unreal opportunity right now. If it gets to 25c, that's 2.5x vs current and if it goes down further then it can always be made back through other means. 210 sats?
a 0.25 return is what 100x? Lol plus your staking reward, curation or leasing, It really is a winning trade short of it going to zero which is highly unlikely, would I like to see it break below 10 cents absolutely, I can't see those 10 cent pus buy orders holding if the selling keeps going the way it does, but if you look how little needs to be sold to tank the price can you imagine how few dollars it takes to shoot up the price
Ah I'm getting my Β£ and $ mixed. It's about 7 pence now so if it gets to 22 pence, that will be more like 300%...! I think it's pretty much 8-9 cents now on Huobi (it was a few hours ago when all my orders around 620 sats filled) so if the price increases even to just 1240 sats - not that much of a climb, then it's a win! That's probably about $75 worth to push it up to those dizzying heights π
Of course not. I picked up another 1k from some shit coin i had sitting on bittrex. Had to pay about 10c though. I was robbed.
Haha nice! 10c? What a rip off! You should be close to Orca now?
Pushing 45k. Should get there by new year with a small push and staying active. I never seem to have any time these days and have been struggling to stay consistent.
Great effort man, probably another 7k or so to get to Orca (100 MVests) which is a bit more in reaching distance with current prices and even post payouts will get you a long way there as you're getting more HIVE per payout.
I know how you feel though with staying consistent and posting. I struggle sometimes but there's been a lot to post about for me recently so have been chipping away. I don't really have a target with Hive Power now, I'm switching my attention to some of the tribe tokens and getting to Orca on all the ones I'm interested in and then accumulating BTC at the same time... the work of accumulating crypto is never done π
I'm trying to pick up some Leo and sports but one orca challenge at a time. π
You can never have too much crypto. It's all about stacking.
Sports! Gottam son! I knew there was another token I needed to pick up, honestly, the work really is never done is it? π
I'm on a mission to Leo Orca by the end of the year which is about 780-800 LP staked so that's my next aim, then with Creative Coin too. Then it's on to Sports - I think you need millions though!
Maybe you are buying low? Perhaps going to sell high? You are prob not looney.
Yeah! Dr Bear in the house with the reassuring medical assessment, thank you! π I'm definitely buying low, will see about the second bit but I'm glad it's not just me scooping up some low priced HIVE!
I may be wrong, but now the time seems to be "perfect" to buy some Hive.
Haha I might be wrong as well but I want to increase my stake a bit more and these prices are cheap enough to allow me to do it - perfect storm!