While the pump was nice to see on Hive (which could have been caused by the Huobi hype), what was also great to see was that for the first time ever in the long, long (1 month) history of Hive, the trading volume stretched past 1 Million over a 24 hour period (from coinmarketcap) That is pretty cool.
What is also interesting to note is, as price is above that of STEEM, everyone who got the drop (and held) has more than doubled their value in a month. While it is very early days and this is more speculative pump than much else, volume is an indicator of speculative interest and this is a good sign for the future if it continues in the same vein.
While HIVE is a content delivery blockchain, the blockchain itself is content agnostic - it doesn't care what content gets delivered or consumed. Speculators however - don't care either. What they are speculating on (other than the immediate up and down) is that the community is going to generate enough interest that the tokens they buy will go up in price.
When we think of speculation, we generally look quite short, but that is just the way we think. All of us who are here in some way or another looking at the future value of the token are speculators. For me who powers up everything (other than the bits I trade for fun to try and collect a few more tokens and stay in practice), I am speculating that the future of the tokens I hold will be higher than what I could sell them at today.
- Will the value of the coin go up or down?
- Will SMTs be introduced?
- Will Resource Credits have value?
- Will curation with stake offer a return?
- Will I be able to invest into projects with stake for percentage ownership?
- Will businesses form and airdrop value to me on my stake?
Can you answer these questions today, tomorrow or in five years? How long is your speculative period? Are you looking for an exit now or are you looking to see what happens well down the track?
We are living in an increasingly economically challenged world and the complications that are being created are going to affect every single one of us in some way. Because of this uncertainty, there is going to be the pressure to take the short gain over the long, as time exposure is risk exposure and our brain works on what it can see and have today, not tomorrow. It is likely one of the reasons that instant gratification is spreading at epidemic proportions - and perhaps killing more than Covid-19 ever will.
Economic dysfunction is a killer.
And, we live in an increasingly dysfunctional economy where just like in a dysfunctional family, parts are not working well together. The entire economic system that we use was created far in the past and didn't factor in the global world where speed of communication allows for the transfer of wealth instantaneously and its usage far from where it was collected. It didn't factor in trillion dollar yearly generation from organizations that can transfer their funds and pay their taxes where they choose. It wasn't designed for a global supply chain that places inter-dependencies on all functions, no matter how large or small - the economic tools were built for a completely different job.
As such, I believe that the future is actually quite certain in one area - the economy as we know it is going to have to radically shift course in order to keep operating or, be replaced altogether. All of what is going on now is just a precursor, a warning light flashing, CRASH IMMINENT.
But that crash isn't going to be like in the past where the stockmarkets fall heavily and unemployment becomes the new normal - it is going to be a crash of the entire economic model.
In times of uncertainty, we generally fall back on our habits, our past. And when it comes to investing, this means that we fall back on the traditional mechanisms - the safe money - but is it safe? This is the speculation on any investment as there is always some time gap between the bet laid and the outcome - and in that gap, a lot can happen.
I took a gamble on Steem and it didn't play out as I had hoped - but it did teach me a lot and give a lifeline into Hive to take a second bite of the cherry. The gamble on Hive is whether or not those from Steem have learned lessons on what does and doesn't add value.
Increasingly, investors into the space aren't going to give a fuck about lip-service and promise-ware, they are going to want to see development that attracts valuable users and usecases and outcomes that return on their investment. Those who are looking long-term where most of the institutional money will end up working, are going to back projects that can deliver a return consistently long-term.
While individuals might be able to get in and out of projects quickly, the institutions are going to want a little more stability and a little less speculation please, as they will need to deliver decades into the future, not through high risk pump and dumps - and a lot of their choices will be made through legislation to protect the investors they represent - otherwise they will take on high risk every time - as it is all playing with someone else's money.
But, this is my speculation on the future and the timeframe for delivery is very much "up in the air" as the manipulation and ability for corruption is so high that the game can be prolonged for a very long time, create a false sense of security - and then dump very hard on those who protected themselves by taking the safe money option.
But don't listen to me as I am also willing to live in the gutter and am not scared to die - I don't plan on doing either - but the latter, I don't have much say in.
Taraz
[ Gen1: Hive ]
А тем временем обём торгов достиг уже пяти миллионов. Творится что-то эпичное
I just sold a couple of thousand, I couldn't resist the urge to take 100% profit on at least some of what I've bought!
But that's out of 8K I've got liquid, any more and I'd have less Hive than I had Steem and I don't like the thought of that!
Unless it goes absolutely fucking crazy and pumps to 10K sats I'm holding the rest.
I'm certain there's going to be an humongous enormous dump before May.
In fact this whole situation may suit JS rather well: millions of Hive locked away for a few days, quite a nice time for him to offload.
What are the chances? 10K sats enough? ;D
Most likely. I was expecting it earlier.
I don't think he cares that much at this point.
I don't like these price swings TBH, I'd rather just have some stable growth.
It's making me just want to quit the whole space.
you are just saying that... no one believes you, lol
But on the other hands it might not be bad to leave for a few months (for portugal without internet) and then come back to check your portfolio
I honestly just want stability.
I just feel like we're being manipulated with this recent pump!
It's just whales playing, I don't like it.
Nice move, Sir. That's how you win in the long run and sleep well and night.
And as I am typing this comment the volume just crossed $5 Million Dollars!
Way to go!
cool!
What are HIVE Devs focused on at the moment?
Finalizing and testing HF24. It will include some things like delayed witness voting after powering up new stake, airdrop exclusion fix, chain id change, and probably others.
SMT are currently on hold for right now until we can get HF24 released, live, and out of the way.
As for myself, I am working to get the Ledger application I just released finalized and submitted to Ledger Live among other things.
No idea - hopefully something that that gets some attention
Some are working on improvements for Hive.blog, the steampeak team is working on PeakD.com.
@stoodkev is working on Hive Keychain and keychainify. @netuoso is working on the vessel wallet and I believe SMTs (not sure here).
I think there are others helping with SMTs too and finally @blocktrades must be doing something I don't know of.
.... thats the way it should be (to finish of the song)
I am happy to have some liquid hive so I am going to see if I can make some extra on this bounce... going into BTC and seeing if its worth coming back...
was trading steem for hive last week, now thats going into BTC as well
I think are few will hold off converting Steem to hive - which might cause a pullback as demand drops a bit.
Good trades, good trades...
The price of Hive is crazy today. Why so much hype for an average offer? I mean whales don't care about an additional 1k HIVE. I expect it to crash back down to normal levels.
I expect a crash too - unless there are others buying in also. if anyone is willing, they can have my 100K for 150 BTC too :D
Fair price xD
Honestly though this pump is getting riddiculous.Whales know how to buy patiently something is fishy.
Check the price on bittrex, it's impressive. I don't know why but it's scary. As I'm writing it went up 25%.
The pump is lovely but the dump might be brutal.
Meh, I suck at timing the market so I’m going to effectively dollar-cost-average from Steem powerdowns into Hive powerups.
It might be brutal, but it gives some a chance to buy in --- unfortunately - my PD is tomorrow
Holding STEEM and powering up has felt like a gamble for a long time, but I do think we all got dealt some good cards recently (thanks to those who worked on creating Hive).
I hope that others see this is a stroke of good fortune and use their asset to invite and retain others who now want to join in.
If you see my mind can you show it the way out?
I am not sure how many lifelines there will be in this space, as eventually it will be formalized and normalized and then a lot of the uncertainty, volatility and early adoption opportunity disappears.
Mentally, I have never left the gutter and have been there since childhood. Feels like home.
I hope this is the first and last, not sure I could take another first quarter like this one!
For the year of 2020 vision, it has been very, very blurry :D
I hear that gutter contents are not good for the eyes :)
Trending page is full of posts that dont add value at the moment. :)
Hope they are developing something for release.
Every day there's development on HIVE. Whether the skew on the scale leans to blockchain development or content development, it seems pretty obvious which side of that scale is lower to the floor than the other!
I am hoping for some decent dApps and games to arrive - powered by SMTs
The crazy swings of speculation — which have always reminded me more of gambling than investing — do bother me a bit, but seeing Hive get a higher valuation is nice... from the perspective that the market is pricing the potential of community, following the whole Steem debacle.
Of course, now the Hive community has to deliver, both in terms of community building and in terms of having something here people want to be part of. We pretty much need to hit the world like a long slow tsunami... there can't be any resting on laurels here...
The trading volume continues really high; Just Huobi alone has turned more than 3 million USD just since their BTC-Hive trading pair went live.
Yep, a driving force. I am hoping the pump brings a little publicity for some more to find us.
Yep, it is great-
I’ve been hearing about SMT’s since I joined in 2018. I still hear about it... it’s always ‘soon’. I would almost rather roll out a shit product of SMT you can improve rather than continually baiting but not delivering. I don’t have hope that will be what brings people here, honestly. It’s better they come for community and games at this point.
SMTs are for these.
They have been coming since I joined - and that was January 2017 - same with communities. Half way there :D
Progress on communities for sure, SMT’s, I have my doubts but always enjoy when proved wrong in these situations.
SMTs were already in testing phase since before the Tron acquisition of Steemit, Inc. This obviously stopped the progress but now it picked up again. We should have them in 2020 for sure unless another earthquake or some shit happens.
I’ll believe it when I see it 😉
Sing the title :P
I got the song straight from the title. Must be something about us both being 40 something Aussie expats.
:)
Oh, I am hoping it is in your head all weekend :D
Probably will be. :-)
BTW: Are you aware of (my) @jpbliberty's Australian based global class action lawsuit against Facebook, Google & Twitter for banning crypto ads in early 2018.
Steem was over $6 and booming the day before the ban so people that held it (and other cryptos) have a big claim. More details here: https://www.jpbliberty.com/
I didn't want to sing the title, it just happened and it's all your fault XD