"A small amount of Ethereum is required"
That is 40 dollars worth of Eth on the transfer of 120 dollars worth of Aragon token. I used to complain about the 13% fee that banks were charging to shift money across the world. 30% is ridiculous. I am going through some old shitcoins and converting them to something else, something I should have done long ago, but you know - the life of a hodler. So far, it has cost me about 100 dollars of Eth to convert about 300 dollars of assets. I wonder how many other people are doing this at the moment, which would drive the price of Ethereum up, but once all the conversions are done?
Why the fuck aren't people using Hive more?
I kind of get the feeling that a lot of the ERC-20 tokens that were all the rage back in 2017 (when I bought some) are just going to die, as the amounts that people hold don't even make converting them to something else worth it. Many of them have moved over to other tokens too, making the need to transfer compulsory, if it is worth the gas to do so.
It is kind of worth it for me, as I have so much shit tokens that I just can't keep track of what it going on, which means I am missing a lot of opportunities. Cleaning up my holdings is like clearing the office desk of everything other than what is necessary to pay attention to. It also allows me the opportunity to introduce some newer assets that I didn't have time to check out earlier, or thought I didn't. I have added BNB again, which I held a few hundred back at around 4 dollars and sold for about 12 and never bought back - that 52K worth today - I hodled the wrong things. Now I have a tiny handful in comparison. The other one I added a couple days ago was CAKE, which I used to pair and stake on pancakeswap, and that is up 80% today, although I bought with BNB as at the time, the BTC and USDt pairings weren't opened, so it is technically only up 7% against BNB. But, we are just starting the run for 2021 and while it is exciting now, I think there is a lot more potential in the markets to come and I want to have some fun and I want others to as well.
As expected, a lot of the drama drops away from the discussion when prices are swinging upward and the general atmosphere around Hive is positive, even though there are people who will never be happy. Of course, the current price of Hive seems to worry some people, but I think that as a laggard coin, it is just getting its groove on. Not only this, the above issues with ERC-20 tokens will send people looking further afield than the Ethereum blockchain for usecase contenders. Most of the tokens from 2017 are still there - but they are doing very little, while Hive on the other hand is progressing and, the community is still just as enthusiastic.
The future of all projects is that they will either put their applications where their mouth is, or be relegated into obscurity. What I am hoping is that in the coming months there can be a mass of activity on Hive that can support users for when they arrive during the bullrun, as if there is not much more here, they will move on at the bear, dropping the floor back down. Essentially, to increase the floor price of Hive, we need users who are looking to buy and sink HIVE into usage or avenues of return - and Hive can support many aspects of this, whether it be new staking pools, games, applications or just the joy of earning some curation.
As Bitcoin climbs and eventually will be overbought, it will start to leak investors into other areas and while many will likely go to fiat or stable coin, some percentage of the new earnings will look for ways to actually use it. There will be many options, but I think that Hive has a good opportunity to capture a decent percentage of that value, by offering a large variety of usecases all held on the one chain and under the one account, with feeless transfers. Converting the savings wallet into a DeFi wallet would be a huge reason to buy HIVE I think, but there are others and more coming and the price of Hive will follow along, with each new buyer increasing the floor just a little.
I don't know if this is how it will play out, but I am staking my Hive to it, as there is no point believing and wanting that the price will go higher, if there is no skin in the game. If it does though, I am looking forward to thousands of people having a much improved life and helping millions more improve theirs too.
Taraz
[ Gen1: Hive ]
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Get rid of the shit and swap for the good seems to be the only way. I am getting slowly through getting rid of my old bags of yesteryear that look dead!
I have set a couple with higher sells in the hope of catching a spike - but if they don't go soon, they are gone at whatever.
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I always do the same, can't bear the thought of just letting it go but this time if they don't catch a wave then they are off!
come on wave!
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“Think of how stupid the average person is, and realize half of them are stupider than that.” ― George Carlin
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Carlin was a great comedian. There aren't many around like that now.
That is totally nuts! I don't get it either. I honestly think the people who are using ETH are people who are already rich off of crypto and the $40 fees are nothing to them. For those of us who are not independently wealthy it is a huge deal. I could fill the gas tank of my wife's car twice for $40. I could buy a really nice dinner for the two of us. I could go to the movies! ETH sure does a fine job of making the banks fees look reasonable!
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Yep, it is crazy. I wouldn't have done it other than because I had to for the clean up. I could have just held it there for the future of lower fees, but the token might be worth half as much by then :D
Yeah, I hear you. I have a bunch of stuff spread all over there as well. My stuff is only worth cents or a couple dollars, so the gas fees aren't even worth it!
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I think this is a major problem. Irrespective of if one is an influencer or not or a big player in another chain or industry I have problems with people leaving in the bear and coming back during a decent run, you don't build a chain with such loyalty. It's totally shameful.
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Lots of people will come at the spikes, because they don't have the understanding of "buy low" - when activity is the earner, acting at the lows is the buy.
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It's all about taking and buying into bitcoin for some of these people and they're the ones who complains the most.
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Oh no! Should have HODL brother. Ethereum is switching to PoS and fees will lower
Meh, I don't want these coins.
Fair nuff 🤣
Because it ain't doing 10x every weekend.
🤡
How does a chain allure a group of speculators who care little about fundamentals? That's the big question. Maybe we should play the De-Fi game? Maybe we can do some of the outrageous things that get people to buy and hodl. We do have substance. We have a lot to offer still asides hype (if we go down that road). Just thinking it loud.
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Until it does and doesn't come back down :)
I mentioned a Defi solution the other day that I tihnk will work quite well and be far easier for an enduser to navigate and trust, since it is all on platform.
Clearing out the old for new sounds tedious, so glad I only stuck with a couple right from the start.
Costs have gone us moving many cryptocurrencies, one I did not go into when offered was ETH, fortunately the few I had I converted to BTC. The devil in the deed was trying to grow the little I had.. swallowed up by scammers at USI-Tech.
Each token comes with different baggage, moving them some only use specific exchanges putting you out there floundering around eventually trying to marry up who goes where, so now I stick with Hive.
@tipu curate
Upvoted 👌 (Mana: 98/112) Liquid rewards.
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I wish I had. I was doing okay, catching pumps on them etc, but bought back and held a little too long - though looking back, I could have sold when it was 50% down and still made gains :D
Hive makes everything so much simpler, which is why integrating more potential avenues to Hive would make the place far more attractive. All the complication made simple.
lol - I answered the wrong comment :D
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That is what people are looking for one to work into many, and yes I did read your Defi as a possible solution, perhaps once I'm back on a stable internet connection will look into that.
Jumping from token/coin to token/coin trying to gather a little, personally I found is time wasted, rather concentrate on one or two then knuckle down to help them grow, like Hive.
40$ worth transaction fee is not a Small amount lol, I always choose XRP over bitcoin and eth for small transaction fee.
Yep - although I don't touch XRP :D
These were already on a wallet, so had to convert there if possible or transfer to an exchange.
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I did transact with XRP once and also with Stellar at the same time just so I could be certain XRP is garbage. The transaction time was 16 minutes compared to Stellars near instant and I had to pay 1.0 XRP per Ripple send whereas Stellar was feeless.
Hive and Stellar worked about the same speed which is near instant for no fees. I don't know why anyone would transact with XRP either dude. Like saying I hate Bank of America but you have a savings account there.
You got my attention with the ETH gas fees and then I saw this comment. That DeFi wallet I'm a big fan of, the one i was telling you about, requires the same thing. All the offered DeFi coins that are paying between 9-12% APR require a separate ETH balance in order to send. Pita!!
I did transact with xrp a few days ago they were instant, 1 xrp fee is very less compared to 40$ eth fee lol. I don't know much about stellar, good to know it's feesless. I will read more about that.
Substantially less that ETH fees, you're right. The transaction time of Hive or Stellar in comparison to XRP was about 3-5 seconds compared to 16 minutes. And the fees with Hive and Stellar are at zero whereas XRP was 1.0 at today's rate would be, I guess about $0.56. But that 1.0 XRP is a set fee so regardless if you want to send 0.1 Ripple or 1,000.0 Ripple, you're still paying that fee and waiting an additional 16 minutes is transaction time.
To be transparent, I've always despised XRP because of their eagerness and willingness to work alongside centralized banking, hence the two partners split and the one developer went over to Stellar. But if never personally transacted with it, only despised their model. Now that I transacted with it, I'm not only against their main objective but the currency itself is junk.
I see you just made it back to the platform @stefen. You went silent for a couple years there prior to that last Steem hardfork but you're here now. Welcome back!!
Thanks man, I am following you. I was busy with life and had an health condition. Would love to know more stuff about crypto :)
Well you're in good hands here. Taraz is continuously updating us with blockchain news via the Leo Finance community.
It's great to be met, Stefen, don't be a stranger. Let me know if you need anything. I don't know everything but I'll teach you everything I know.
XRP made some people rich - I still wouldn't touch it :D
I think it would be interesting to have an on-platform DeFi solution, which would make it incredibly easy for Hive users to take part without having to go through all the setup issues. It took me ages to dive in and since, I have had many people say that they don't have the technical prowess to do the same. It is a hurdle to adoption of the opportunity.
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Brother I've been in this (not social but crypto) space since 2016 and I still won't claim to have the technical prowess.
Great read again man.
Congratulations, you're the first person I've seen say that.
HIVE needs to be EVM-compatible. That would help a lot.
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How difficult is this to do?
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Good idea.
Enjoy. Blurt is a joke imo :D
You should check out this Twitter rant from @therealwolf -
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Yes .... I have been swapping all my Dust on Binance to BNB for the past few weeks, months.., and it has added up to $1200 USD worth of BNB. I even bought a little CAKE with some of that dust.
I dumped all those ERC-20's ages ago, I mean at a 99% loss in most cases. Due to the stupid GAS prices, you probably ain't doing much better!
I just wish with the recent price rise that all of the change the reward pool, fix the hbd, fix this fix that all the fixes the people coming back want are those that effect the reward pool. Hive is having a pretty nice steady rise in price not because of the fix the price criers, but because the system has not been screwed with to satisfy a small handful of people.
Hive was pretty stable for a good period of time, the spike, then the following stability once again at a slightly higher price is good for Hive, or at least I believe it is. I think after HF25, the final stabilization fork for the foundation of Hive then we can all reexamine the reward system. Right now we have what appears to me to be a stable economy on Hive, with slow steady growth.
I have the hunch everything in life has a somewhat fee, hidden somewhere, in one way or another anyway. :)
Of course everything does. Every movement requires energy.
Exactly! lots of energy to move those little wings at 1M rpm and simultaneously feed consciously those multieyed big eyeballs in plain flight while snooping carefully the exchange's environment in the quest to get some ROI quickly everywhere like flies and dragonflies. :D
I am slowly selling altcoins. Had a ravencoin position I thought would just go to 0. it basically did a 10X since january.
Every double compared to my btc purchase price, I sell half. However, I am not keeping all the profits in BTC.
I am putting a lot in hive. There is a 10x left in hive before the 1st altseason ends. It can easily reach $3 by April if it respects the steem cycles. Up to now, everything is on track, including the pump to 30 cents.
Yep, some of these will pump too, but they were in a wallet where I couldn't exchange them anyway, so at some point, they had to come out. I did set some higher sells on them.
Does seem that way and I remember in 2017 what happened. I had only just got into crypto on Steem in January and traded for the first times in late march, as prior i didn't even know I could. I was trading back and forth between Steem and BTC for a while in the 10-18 cent range and then ended up selling everything I had liquid at around 30c. It took Steem 8 weeks to go from the ATL of 6-7 cents, to 2.80. Should be interesting.
At a wild guess, sunk cost fallacy, habit and critical mass? XD
I don't actually have a clue
Those transfer and gas fees though, I've been hearing a bit about them lately O_O
It's priced me out of playing simple, stupid games. There are also coins I'd love to get/hold or use in liquidity pools. To move a few dollars is anywhere from 45 to over 100 bucks in gas fees. Thank God for HIVE. Now, if more developers would come over here lol.
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