I have been waiting for a good HIVE buy opportunity, and it seems that it got delivered this morning. Thankfully, I set some orders a while ago and even though I thought I was low-balling at the bottom, they all went through. As you can see, the last one in the list was an on-the-fly-buy, otherwise it would be second.
This means that I will be able to power up a little today :) My single largest power up ever and I am pretty happy with it so far.
However - this has taken a large bite out of my BTC holdings. But... let's see how that pans out. For now though, I am just glad to get a step closer to what is for me, an incredible milestone with less than 4000 HP left to the 100K. By the looks of the trading volume on Bittrex, which is around 55 BTC, it is likely a few others were able to pick up a bargain also.
If the dumpsters take one more dump, perhaps I will make it today :) Past that point, I am not sure what I am going to do - but I think that I will rebuild my other holdings slowly and diversify. I know that it could very well be that in a few months, I could need some additional funds due to the global economic conditions and while I haven't used any crypto for anything real yet, the time may be approaching.
While a lot of people want to live off of crypto earnings, I think that for most, the only way to make a significant and potentially consistent income is by putting skin in the game. Earning from content creation is a fickle business at best and I find it incredible that people rely on it at all. Sure, earn and use it - but do not expect a steady income stream from it. It just can't really work that way, especially if more people come into the scene to draw on and compete for the pool and the price doesn't change dramatically.
For me, I am one of the people going long and perhaps it is because I wouldn't know what to do with it anyway, as I see it as a waste to flitter away when I do not need to. I know that many are struggling out there, but the problem is that in order for many to better cope with the struggle, many more have to invest themselves into the future to create some stability - not just the one percenters in the world.
What needs to happen in the real world is a greater amount of distribution, but that is never going to happen by those with giving to those without - it is just not how the system works. However, on Hive there is a chance to improve the system, but we are nowhere near the stage of being a charity of any significance and the distribution and price can't support it. At some point, we have to each take the responsibility for our experience and decide whether we are going to be supportive or extractive - and just like in any community - there has to be more support than extraction to have future stability.
Hive has a solid middle class of users, but it is far too small still and that means that opportunities like this should be taken from those who are looking to earn from Hive in the future too. While people like to complain about the distribution and earnings of creators, the other side they generally fail to mention is their own support of contributors and whether it is adequate.
I wonder if it were possible to do the calculations, out of all the accounts on Hive, what percentage are willing to buy with off Hive earnings and power up? As I have said before, I believe that the amount doesn't matter that much, as long as it feels significant for the individual to the point that it would hurt enough if lost to warrant learning about the system and trying to act toward the future. The problem with earning alone is that as soon as price drops, it is easy to walk away. When there is a sense of ownership that comes through buying, that is much harder to do.
Everyone makes their own decisions however, and must live with the results whatever they may be.
Taraz
[ Gen1: Hive ]
I just snapped up a few hundred, swapping STEEMP for HIVEP on steem-engine.
Just wish I'd kept more of my recent airdrop liquid to take advantage. Lesson learned.
**Dashes to SE...
Ah, I should have a look at SE... Is it up and running okay?
Yeah went through without a hitch. Bit painful to lose 2% (1% depositing steem into steemp, then another 1% withdrawing Hivep as Hive); but it's not too much friction, and I don't mind supporting the dev team instead of binance :)
You can also use Ionomy. Personally I think Ionomy is a little easier and maybe cheaper but the big exchanges have better liquidity.
I accidentally saw the news of the dump through Discord chats and...This was the first time I actually bought anything with BTC on an exchange. I was pretty happy with the 500-600 Hive I could afford. For me, too, that was the largest amount that I powered up in a day (about 400 of it and probably a hundred more pretty soon.)
I got a PM in Discord :D
It feels good to buy and powerup in my opinion, even if there might be better opportunities later, or the bottom was missed. It is part of the game.
Congrats on the power up! :)
Nice buys, my average was unfortunately a bit over 1700 sat as the dump happened while I was still sleeping and had no buy orders in. :(
It is pretty volatile at the moment, so I am guessing a lot of opportunities to buy, sell and rebuy. People powering down, or exchanges dumping?
The token price is the most crucial and also the most volatile of all the factors that affect how much you could earn by creating content each month. I'm not expecting to cover any living expenses for another 5-10 years from content creation on Hive. I could take out some, in fact more than I could've believed possible given the general state of the market and the low token price, but it's better to let my stake and audience grow for the time being.
We may see even lower prices in the next 12-18 months. But Hive is cheap enough to run to survive very low prices. At some point, world economy will start growing again.
At these prices, I would have to live somewhere much cheaper to have it make any significant difference. It would cover a few things around the house, but since we aren't in a rush for those particular things, I will wait and see.
The recovery will be faster than expected once it sets in, so will the next crash to follow.
If you're making, say $300-$500 a month in author rewards, then obviously you can't cover all of your living expenses in Finland. But that sort of income would make a difference. That would be > 10% raise to the median full-time wage earner's monthly wage.
yes a difference, but not a significant difference to lifestyle and then, it can stop at any point as that is the way it often goes with author rewards.
If you save all of it, then you could end up with a $10,000 fund in a couple of years. Of course, you'd have to pay income tax on it when it's cashed out as per the guidance of the Finnish Tax Authority on virtual currency income earned on platforms "mainly for recreation" that a social media platform is. But a sum like that could make the difference between falling behind on payments and getting deeper into debt under an emergency.
Most will never get this kind of consistent support without putting in consistent support I think. Some might.
No one will get that kind of support without putting in considerable effort. I know several dozen users who get this level of support. I know a few who do even without posting project announcements and such. Those people are the cream of the crop on Hive in my opinion. :)
I am glad that you got benefit from this opportunity. It is high time to buy Hive.
Did you take the opportunity to buy a little also?
Unfortunately I consumed all my BTC buying Hive week before.
Yep, it has happened to me often enough that way
Buying and selling hive is almost as fun as earning from post rewards.
96k is a lot and so is 14k all at once. I bought a lot more than that today, but I also sold a lot more, too.
Happy days for those of us who want more Hive in the end.
I was thinking about selling some of it, but I can hold it for a bit at least and see where it all leads.
Yep :)
Diversity is key, especially after watching what happened to Steem. At a minimum, BTC holdings are very important, and could be a pivotal backbone to a portfolio that features a token that's only a few weeks old with an uncertain future. At the rate you earn Steem/Hive, I suggest diversifying the other way instead of putting all eggs in one brand new basket. You'll get to your goal in no time, but will be more protected with BTC or even some ETH. Consider putting the %'s on paper and remove some emotional attachment to think about the risk. You can always earn more.
I have put some BTC aside that doesn't get touched, a little ETH also. This took a chunk out of what I am willing to lose completely, but I want to spend some time rebuilding now.
Now I regret converting some steems into HIVE two days back.
yeah, it is the order of the game - can't win em all.
Congratulations, you'll be at 100K in no time with your earnings!
I had a few limits that crashed through too.
I've put most of it back on the market, and it seems to be selling pretty well just below the 2000s.
I did extract a couple of thousand to power up, but you may as well hold of until Friday - send it to ionomy for the airdrop, then back in to Power Up next Saturday!
It's fun out there, no?
The ionomy airdrop of ION?
Aren't they dropping like 40,000 in total? I don't think it is worth all that much.
JRCORNEL seems to think he made about $80, but he did have several thousand Hive in his wallet.
They're not worth much if you have the minimum, no!
I quite like the exchange TBH, it's so simple!
It is simple but unfortunately the volume is so low. I have managed to double up a few hundred there though
It was a great for people who want to convert their steem to Hive
Not for those wanting to convert Hive to Steem :D
Just bought some cheap HIVE too with my STEEM :)
:)
1k for me :)
Nice!
I think you're right, people should take more responsibility and put more skin in the game. Congratulations because I think 100k might not be even up to a month before you hit it.
I think it will be pretty soon, as I will convert some steem in the coming week.
Ahhhh can't await the milestone post 🤣🤣
Hopefully it is in the evening ;D
Wow great! I've just sent some money in too, don't know what caused the dump though...
potentially a coordinated dump to drop price - or an exchange having some legal issues.
So true. We need to teach what it means to be a "balanced" Hiver in terms of creating content, helping with distribution, curation, engagement, etc. I feel like the people that have a nice balance of all these things are never complaining.
Even at the worst of times.
You've got a real beast already - almost 100K Horse Power - awesome!!!
All electric too!
Indeed, his is a great opportunity 👌! I will grab some too :)
Thanks you for your well-constructed articles !
You are welcome. Good luck :)
thanks you ^^
Cool 😋👌 I try get more also... 👌😎👌
Have fun out there :)
Same I hope you have... now lets buy more HIVE 😋👌
Nice buying points man! I bought 817 Hive today too! I just wish the price keeps sinking until my next power down! I am one of those middle class content creators you mentioned and I really need skin in the game so I am trading almost my 5k Steem into Hive :D
I wish I could spend some FIAT to buy though!
Good luck with your trading man!
Yep, I am slowly moving over to Hive also, it just takes time. I am converting nearly everything to BTC and then waiting for an opportunity. Hope you get some good prices :)
Great shop! 🥳
I hope to invest much like this in crypto world like you did
gotta be ready with something you are willing to part with.
Congratulations. I think you cashed in on some luck and skill. lol
I sold all my TRX for Hive
Hopefully it works out long-term :)
I suppose at some stage I'll have to figure out what that type/side stuff means.
People do (and I'm not even talking about crypto). But yes most definitely flakey and fickle and anyone who has ever done the Patreon/ko-fi thing will be familiar with this and thus unsurprised when they come here. I guess the ones that haven't might struggle though XD
Does steem count? That's all I got atm XD And probably the best that's gonna come out of me for a while until I get brave enough to think about tackling exchanges.
And they do..... :D
Yes indeed! It is an external currency.