How to lose $130K overnight

in LeoFinance2 months ago

I woke up this morning and smelt that something was different in the air -

was it the dampness of Autumn? Moldy cheese? My wife's feet?

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No.... it was something else.

I picked up my phone, looked at the markets and there it was:

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I had lost 130,000 dollars!!!

Fuck.

My wife will never get that foot treatment she so badly needs.

Ok.

So, I haven't lost 130K, it is just that at the high of 1.57, my account was worth close to 400K and now it is more like 270K, so technically if I had it all liquid, I would have been able to sell at the peak and then turn it around for a 30% gain in tokens - however, that also would have left me exposed to not having any Hive at all, in the case of next week it going to 4 dollars. Some people like to take these risks - I am not one of those people - though I don't mind playing with small percentages here and there to feel like I am playing the game.

While writing this so far - I lost another 30,000

Sure, my account is worth 30,000 more than it was when I started, but it is down from the high of the pump a few minutes back. This is crazy.... That means...

I have lost 160,000 dollars!

Obviously, this is all tongue in cheek, but I do find it interesting how perspective matters a great deal to the way we feel and I think in crypto it is common to have elation of a large pump, but because it usually goes unrealized, there is the deflation of lost potential. My account is worth 100K more than it was yesterday, but focusing on what it was worth for a few moments makes it feel far smaller than it actually is.

Size matters.

This is just a precursor of things to come though and while it isn't all upside, it is looking good for the end of the year. I did manage to get a few sells in and if it keeps heading down, I will get some buy back to increase my holdings, which is my goal for Hive.

In my opinion, there is a lot of value to be captured by the growing Hive ecosystem and at least for me, stake matters from a community perspective. From a financial perspective too, since there are things like curation returns to consider, investment opportunities to take advantage of - air drops too. If Hive settles at around one dollar for a bit, my curation returns will be sitting at around 50 dollars a day - which is phenomenal in many ways, but what is spectacular, is that it also means 50 dollars a day are going to other people in the ecosystem.

While not always a factor, I am more likely to support people who both have good posts and are Hive positive, because I am invested into Hive. This means those who power some up and are growing their account, even if it costs them short-term. Sure, people can say "I have to live off Hive..." which is fine, but as someone looking long, I also have to consider the Hive of the future and want decent staked people who are positive on Hive in the ups and the downs, rather than the "shillers for votes" in the highs, who very quickly become "complainers" in the lows. People can complain all they want of course, as that is their prerogative, but I don't have to support it - I don't have to read it at all if I don't want to.

This is part of the game on Hive, as it is a community meaning there are social aspects to it too. I completely understand why so many people prefer to trade in Bitcoin and other blind tokens, because they don't have to think about anyone else. Trading on an exchange is between people, but those people are never known, removing any social considerations, so the "behavior" of the buyers and sellers, who those people actually are - doesn't matter.

I make a trade and I could be buying it from a "saint or a sinner" and I have no visibility on which. The person could be selling to feed their family, or buy supplies and rent a car to go on a killing spree because someone at work joked about their penis size. People don't have a lot of skin these days - even fewer have enough to put some skin in the game it seems.

But, that is changing.

With each market drive up, more money is flowing in and investors are looking increasingly toward projects that have real-world value, which includes a community of users who are keen on supporting it. Hive is increasingly becoming valuable as a hub of nodes that supports all kinds of communities upon it. Yes, currently the largest and most valuable by far is Splinterlands, but LEO is no slouch and is building in a different direction to cater for a different type of user - but there is overlap between the userbases. Both of these also are affected in some way by the markets and both benefit from the free transactions on Hive. As Splinterlands grows, a decent diversification path for an investor who rents might be to add to the TVL on Cub Finance and when Project Blank and the other various sub communities of LEO form, they are likely to end up investing some of their growing wealth into Splinterlands too.

If I didn't have a significant amount of value ticking away in Cub, I don't think I would have been as comfortable adding as much as I did into Splinterlands. similarly with Hive, I wouldn't have been as bold buying as many packs if I had less Hive. This is because for me, not only does the HIVE token matter, but the Hive community matters too, which is why while I have no visibility on the people on the exchanges, I like having visibility with Hive people.

Increasingly, crypto is going to expand further than the "finance" narrative and productize far more, which means that in the future, people are going to be important, not just ROI. This of course gives investing into where people are going to be and all of the things people are going to use. a very high return rate.

Interconnected, interoperable, intercommunity, interpersonal, intercultural...

Interesting.

I wonder how much I will lose tomorrow.

Taraz
[ Gen1: Hive ]

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My wife can't believe this thing is actually going to pan out after all those years of bullshit.

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She lived through 2017/18 with me ;D

People close to me know the feel having seen me hold Steem at the top.

Those were the days...

Very well put as it is about supporting others who are looking long term and will be around and hold value in how they operate. I think the majority on here today fit that bill compared to 3 or 4 years ago. On paper those are decent figures but have not mentioned to my family the value or the increase in price. They just won't get it and what can happen by staying staked.

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Yeah, I mentioned to my wife and it scares her more than anything :)

I sent most of my liquid Hive, (10) and HBD (5), over to ionomy so I could re-build my play-fund pool back up. So now I am ready for the pull back to $0.80 if it happens, and if not I will just let it all sit in the BTC part until needed for something else.

I do like the way and the direction Hive is moving, how it is making room for, (even though it always had the room), for all kinds of content and uses. From the games to the finance, to the look at my cat blogs. A positive note certainly helps, and as a slow growing investor I do look more close at who/what/type of content gets my vote.

80 seems reasonable and I have some buys in a little higher than that and a little lower. Let's see. I think on this drive, my average sell price was 1.20 - so I have some wiggle room.

Well we are back below a buck, but it may not stay there. I'm pretty good at the waiting game, and the nice thing about that is you forget what you were waiting for so in the end it does not really matter, but I still think it will pull back close to $0.80 maybe mid week next week. No study/research, just gut feel from the last couple of spikes.

You haven't lost anything until you sold. If that wasn't the case, I'd be losing all the time as I am a notorious hodler.

You haven't lost anything until you sold.

It is all about alignment :)

It is all about alignment :)

More like timing.

For the trigger pull, but the position has to be in place well prior and most people don't plan well-enough ahead to have things ready for when the time arrives.

That is a nice candle :)

Hopefully you'll be 'losing' half a million in the not to distant.

Just imagine how angry I'll be when I lose that much!

the moon is coming do not worry for the short therm, we are good, yesterday i sell only 100 hive and earn around US445.00 this is a great win for me, because i could get 45 more hive but tomorrow we could get more money in the future, because this is only the start of the value or our gem of hive.
enjoy the crazy market.

Let's see how the next few months go :)

I wrote in your previous posts that I don't care the price ups-downs of HIVE. This morning, I saw about a %70 increase for HIVE, it made me happy. However what I did is nothing, I lost some profit somewhat, but I don't care short term price changes.

I have invested in HIVE and the blockchain, therefore I have been keeping Power Up. Morever, I would like to see HIVE around $1, perhaps it is a psychological threshold.

It is always good to think about having a little liquid to take advantage of these opportunities. Though, no one forces you to :)

Yea when have abundant HIVE. 😁

It amazes me to see this pump in hive over night. I believe this is connected with the facebook saga going on in Washington. The whistleblower was just questioned yesterday by members of Congress and what was revealed was quite shocking. That being said, as a former FB user, it was a great social experience for awhile but after joining steem/hive, I have turned my attention completely away from FB and have filled the gap with the hive communities that I enjoy so much more.

In the beginning, it was just a learning experience, with a little money invested. Now I care more about my circle of friends on hive than the money, yet it doesn't hurt to make a few bucks.

You can't loose what you don't actually have, yet. This is the case with all investments, unless you pull the trigger.

i don't think it was that - though maybe it affected it. Looking at the timing, it was a pump in Korea, as normal :)

Now I care more about my circle of friends on hive than the money, yet it doesn't hurt to make a few bucks.

I had no friends here when I joined, now I count some Hivers among my best friends :)

It's great to converse with people from all over the world, I have met some truly amazing people here on Hive. I love seeing the different cultures and traditions, most days I feel like I have taken a tour to places I know I will never see in my lifetime.

Now, I think I lost money overnight, can you help me find it ? hehe

I was trying to quickly move some of my liquid Hive into HBD last night when it hit like $1.46, but then I said to myself "what is the point really". It was only about 70 Hive, so I wasn't really gaining a ton. Plus I feel like it is just as easy to keep it liquid and eventually power it up. These mini pumps are great, but I am waiting for that sustained level at $2 or $3. If it can hold there for even a year, then things will be totally different!

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Yeah, for small amounts it might not matter too much for at least some people. For others, it can make a big difference. 2-3 stable-ish and I might retire :)

Yes, I need to do a better job of keeping some liquid. It's just the smart move, especially right now when anything could happen.

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Yep. At least a little.

I practically spent all of my hive buying cards and tokens for blockchain games so I feel a certain way with the increase but overall it's a good thing.

I am here for the long term so I know if it keeps increasing, in the long term I would profit more.

Have fun out there :)

Thank you.

The downside of holding hundreds of thousands of tokens... "losing" hundreds of thousands of dollars! Luckily I only "lost" a few hundred ;-)

The woes of a holder :D

yeah I was shocked too when I see the price... I'm happy for Splinterlands that have a great success, not a player but, I'm glad because Hive is growing too. Cheers.

Hopefully all the apps start growing as people start working out what really matters in this world :)

Isn't perspective such a wonderfully annoying thing? Worse still one gets to choose how one elects to perceive a thing! Oi!!

What I like most about this post is the thought of how much we all gain in the midst of so much loss. As with perspective, potential is so delightfully frustrating. Oh the the choices we must make, so many! Uhhh....which way do I go George???

Blessed be.

Worse still one gets to choose how one elects to perceive a thing! Oi!!

No one wants to admit this when they feel bad though :)

"i have lost 160k, but also gained 100k" that was a good pump :)

It's a hard life in crypto!

I wonder how much I will lose tomorrow

I guess it will go down but I guess we have a steady footing at 50cents tho.

This is actually great.

The pump will definitely lose momentum in my opinion.

I just might power down and convert to HBD and wait for a decline so I could buy more hive.

I need to have more hive power before the end of the year

I'd be happy if it heads down to 60c - that is the bottom of my buys :)

I just might power down and convert to HBD and wait for a decline so I could buy more hive.

Always be prepared, just in case.

I will be prepared anyways.

I understand Hive is the gem in the blockchain industry .Now hive is more valuable and it happened because all the valued author here not greedy and rushing for quick profit but they are here building the platform which could be best social blogging on blockchain.
HIVE provides wide opportunity for everyone either you rich or poor to buy from exchange .

It is mostly because of pumping bots in Korea that pushes prices like this, but eventually, the floor raises as more people use more applications built on Hive.

It becomes too stressful looking to catch tops. I prefer building positions with quite a long-term view, ideally in coins and tokens that have some type of income-generating aspect to them. I look at holdings as businesses. How much will they generate over the long-term, not even including the coin or token price appreciation.

Besides your account is generating income... Constant income supersedes a large payday in my view, as the payday only happens once. Most will probably disagree though.

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It becomes too stressful looking to catch tops.

With smaller percentages, it can be fun. Never risk it all - always risk a little :)

Besides your account is generating income... Constant income supersedes a large payday in my view, as the payday only happens once. Most will probably disagree though.

I don't disagree, but I think there is room for investment diversity in both vehicle and tactic. Many little "large paydays" affect the long-term outcome - the problem is too many are polarized in their views - all or nothing.

True, the majority of my portfolio is not liquid for trade. I do however have about 12% as trading capital, being traded on an ongoing basis. A further couple of percent in very high-risk micro-cap plays that I would most likely sell on a cycle top. The majority or my "stability" is earning more in the form of DeFi, other investments, and simply wallet hodling.

You lost a lot more than I did, so technically you won in that regard :)

$1 is psychological support. We shall see if it holds.

One man's winner, is another's loser - I think that should be a famous saying!

$1 is psychological support. We shall see if it holds.

With so many psychologically unstable these days - probably not :)

Looks like you are right :)

Was there any doubt? ;P

Never. I suppose I shall have to start shadowing your trades ;)

I am walking with a limp...

From kicking meeself for not investing part or all of the small amount of the $1500 fiat (usd) I have spent over the last few years into Hive. And also for not investing more.

Now nearing 10k. But Hive will be long term and earned. OK if it dips to .20 cents again. I may move some gains in others over to Hive.

But I am going to try to keep the growth going without any major fiat add in.

It was pretty cool tho, to see my small amount double on here.

I don't think it is going to hit 20 again anytime soon - at least not til the depths of the next bear market. Unless we are very unlucky :)

It is always good to invest into a place you enjoy :)

"stake matters from a community perspective" is oh so true.
As the price of #hive goes up some people try to recapture momentum with the community and when it goes down they get discouraged to the point where they become inactive.
If you enjoy the community and enjoy keeping an account of part of what you do, that will be your driving force, no matter the price.

As the price of #hive goes up some people try to recapture momentum with the community and when it goes down they get discouraged to the point where they become inactive.

Yep, and then the complaining starts and persists until the next rise - and the cycle repeats.

If you enjoy the community and enjoy keeping an account of part of what you do, that will be your driving force, no matter the price.

Precisely.

you wouldnt have sold the peak. If you sit back and think theoretically un emotionally yeah you might have sold the peak but if that Hive was liquid your emotions would have taken over and you almost certainly would have fucked it up.

but if that Hive was liquid your emotions would have taken over and you almost certainly would have fucked it up.

For sure.

i am glad that I got a 1.53 in - annoyed that I missed the next at 1.58 by half a cent :)
I am not a very good trader on the fly, though I quite enjoy the "stress" of it.

Would you say you're a glass half empty kind of guy?!?

There's a glass??

wahahahaha

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Oh man some wild price action on this all lol! I’ve been letting my wife know that the account on here is steadily rising in value but it’s locked away In a way kind of like a banking CD (certificate of deposit I think?) account. She’s thinking “when sell???” Type of stuff sometimes but she’s a long term kinda gal so she gets it, building wealth is something we’ve been doing for a while. I haven’t told her about the Splinterlands assets yet though, that might confuse her lol.

It’s crazy to see the action, I had no idea it was happening! I was on vacation and came back yesterday, waking up today to some insane prices. Slowly getting there that’s for sure! Hopefully we can keep these prices up, that 1.9k hive ive set aside for chaos legion is looking a lot nicer now hahaha. Might have to turn 1k of that into hive power!

She’s thinking “when sell???

My wife is the same. Not out of need or greed, but fear.

I haven’t told her about the Splinterlands assets yet though, that might confuse her lol.

Keep it as "a back pocket card" :D

Hopefully we can keep these prices up, that 1.9k hive ive set aside for chaos legion is looking a lot nicer now hahaha.

It would be perfect just before. I bought some credits to cover mine, as I don't get many packs with my holdings - but I will hopefully buy more packs later.

This is how people make losses without putting stop loss. You should have to place bid at certain target.
Don't miss the chance next time :) :)

I didn't miss the chance.

Yes you have more chance to come.

I was at work so I didn't notice the spike. We are still up so I guess I could take advantage of it... if I had any liquid Hive in my account. I just find it irresistible to power-up most of what I make and sink the rest in tokens on HE. Ah well.

But we all benefit from this, eh? Even those of us like me who have all their Hive locked-up. Just as the high DEC drew tons of traffic and new faces to Splinterlands, a high HIVE could do the same more directly for Hive. And of course all this feeds together, as you mentioned.

The future of Hive is looking bright! (Just wish I had bought even more—with money I didn't have at the time, but as long as we are wishing we can extend the fantasy—when it was only a dime)

I power up too for the most part - but I have been powering up for years as well as buying off exchanges. =)

High prices generally attract more, but we aren't there yet - I am looking forward to the 4-5 dollar range to arrive :)

I had lost 130,000 dollars!!! Fuck.

I know this feeling too well 😅

I'm assuming that you have a power down strategy to extract some value out of this chain on its likely rocket up with the crypto sea before the cycle probably repeats. If not, investor bias is a real risk to consider, as bravely holding up and down loses its luster the second time around.

Yeah, I have strategies in place and on the stove - I am also not all in on Hive as I was before either.

This is why I have set automatic sales at certain prices when trading. You just don't never know when it spikes and usually you are not there when it happens. But this won't last, it will crash at some point as we have whales playing with us.

I am rarely awake for these things, as it is in the middle of the night - but, it will likely come down again this time, but eventually, it will move and stay up. Never all in, never all out :)

Yes, some point, but unfortunately not this time

I'm not much of a trader myself but I had some liquid Hive and decided to take the opportunity. Not a bad pay day

I'm going to use all the money to buy back HIVE so it was a good day

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I am hoping it drops a fair bit further - I know many will disagree with me :)

Some of the most excited people where some that had powered down when everything was low. I guess it will get more active again for a little while, people hoping to recapture what they once had. I think it works best if you are not always trying to game the system. I know technically it's really an investment, but, it's an investment in time. All that fun and money too.

As for the big pump? Congratulations to as all and I'm sorry if it doesn't last. Still riding it!

All that fun and money too.

This is how I see it - the best hobby ever.

It is interesting for those who stayed liquid and who knows, some might be getting back in. I was talking to someone today about this and considering I have been powered up, over the last year, i have added something like 20K in curation returns. Quite incredible - but, part of the game. 10% doesn't sound like much, until that 10% goes 15x on top.

I would love to see them get back in oh, but I guess it everybody has to do what's right for them. Just because I see it as a great investment doesn't mean it is. And that 10%? That's 10% more than I had! I think you have done an incredible job this last year despite what is going on in your life.

And for the record I am still silently saying to myself: woo hoo!

@tipu curate

When you want to get some profit or opportunity, you may have to leave others. You stake hive and get reward for it. Then you must leave of trading view.

Opportunity cost is a concept for a reason :)

I can't imagine how stressful it must be for you guys who have lots of tokens invested when the price fluctuates this much. 😅 God, I wouldn't be able to handle it at all.

My holdings are the same - up or down. It is only when worrying about the equivalent in fiat that it matters.

Hive is going to the moon anyway...so no rush...

Hopefully one of the moons of Saturn.

From my point of view. Those figures are scary to me, it's like a whole life saver funds... But it's all interesting as it all visible to us here on Hive. And for the Pregnant Future, We would see!

And for the Pregnant Future, We would see!

I wonder who the father is!