I have to admit that witnessing HIVE performing the way it does and climbing the rankings with huge jumps instead of the traditional step by step method, was enough to make me act like a schoolboy and even lose my sleep the last couple of days.
For the first time in this 26 month crypto journey of mine, I spent more time watching charts and Hive's price action at the exchanges than reading posts, commenting and curating on Hive. Way more time...
But I couldn't help it...Last time I've witnessed something similar was 2+ years ago during that glorious bull run, where everything was skyrocketing. But it's not the same...back then my only crypto holdings were those 15 delegated Steem tokens from Steemit. No BTC...no ETH...no Steem...no Hive, nothing. Just that.
Yet, I stumbled upon a few posts from people who expressed their concerns regarding this pump. Some of them called it trade washing while others are prepared for a huge correction sooner rather than later. Well, if you've read @HuobiGlobal's announcement to celebrate the listing of Hive, then you shouldn't be worried.
And that's because there's this initiative running from 23rd - 28th of April where:
Top 100 HIVE Net Deposit users with HIVE Net Deposit Volume > 5,000 HIVE during promotion period can each receive 1,000 HIVE.
1000 HIVE at the moment is worth ~ $400...And it is exactly the reason why 80%+ of the total volume is recorded at Huobi. And I have a feeling that since this promotional period ends on the 28th, people will keep trading back and forth for a chance to win those 1000 Hive. Which probably mean...that any correction will come past that time...Hey, just my thoughts here...don't take anything for granted, ya hear me?
Every action has an equal and opposite reaction...
...but you knew that already eh? Just in case you didn't let me show you something. The screenshot below, is how the blockchain "calculates" the median / feed price.
screenshot taken from hive-now.com
Feed price = HIVE's average price for the last 3.5 days.
Right now the feed price is approximately 18 cents / HIVE. That's about 15% more compared to yesterday's price. And the reason why your upvote value is also 15% higher compared to 24 hours ago.
It's actually a bit more complicated than that since blockchain reads vests but let's just don't make things more complicated. So, within the next 24 hours the feed price will be ~ 2x what it is now...and so will our upvote values. Isn't that great? Well you tell me...
Double the price...half the rewards.
Right now the HBD debt ratio is < 9% . Which means that no more liquid HIVE rewards for you. Ha! Instead, HBD is being printed as it should. I'd say the blockchain is working like a charm.
But also, there will be a halving on all your rewards. Both author and curation rewards.
You'll earn less HIVE from now on but those tokens will be worth 2x - 3x. In other words HIVE's price is bound to our rewards.
Think of it as the BTC halving which by the way is in 17 days.
I know that witnessing HIVE sitting among the top 50 coins is a great achievement already, but the real question is...
...did you have the time to build your account the way you wanted to?
Are you satisfied with what you are holding if the price never looks back?
Are you hoping for a new dive before we take off?
Let's talk about it.
There is a part of me that was hoping this would happen about 9-10 weeks from now. :) but I am not going to complain.
Ya I know right? I ain't complaining either. Besides this could be the very beginning of something really amazing...
It would be great if things kept changing positively.
We're definitely moving to that direction bud. Look around...5 weeks in and the progress being made is great.
The price will come back as normal after the promotional contest on the exchange I believe.
Define...normal, because it feels pretty normal at 40 cents
A pump and hype cycle in action, Hive has nothing yet exceptional since the hark fork.
I doubt if there are other blockchains that have even half of the apps that have been built here. Exceptional? Could you name a few exceptional projects that we should envy?
Prospectors on the Wax blockchain, Crypto Sword & Magic on EOS, and many more that exist out there.
I'm not really satisfied with what I'm holding but well it is what it is, hive has been like a fairy tale and at 40 cent I definitely feel we're in for a sturdy ride. Huobi listing hive was amazing
I have a feeling that we'll have a couple more chances to accumulate more...
I think so too, I'm thinking maybe soon Hive might have to drop and I'll have a chance to even buy more. However I think the future is really bright.
I'm a very tiny fish in this ocean, but it's nice to see some positive movement after such a long slide downwards, over at "the other place."
I just hope some of these people will see this as an opportunity to invest in Hive (as in buy-and-hold), rather than the eternal very short time horizon.
=^..^=
Posted Using LeoFinance
I'm just sad I couldn't buy more. I kind of hope for a crash in price actually...
I wasn't at all prepared for this, even though I don't doubt the potential of HIVE (far from it) I hoped it would happen a bit later, time to buy some "x" K of HIVE ;-)
also, maybe receiving HBD will compensate, in my case, my lack of preparation !
In any case, it was a nice arrow to follow with your look ! and I hope, more users will find a home here !
I wasn't prepared either bud...ya know, the story of my life, always late to the party.
🙃 Next time, we'll be ready, it's experience ..!
maybe Musk understood the importance of blockchain.