We've witnessed a mind-boggling week for Hive.
Not only did $hive go up in value by 10x but it also got listed on four major exchanges, binance included. We haven't seen such massive green candles since the last bull run. I can't even begin to explain how excited that made me feel and I know you most definitely it too. This is how a full-blown bull run feels like ladies and gents. A crazy feeling most of us forgot about and something some of you have never even experienced before. The nostalgia is real. I can't wait for the time when this is the new normal, at least for a year or so.
On the other hand, what's more important than the price though - at least it is to me - is that we are finally seeing all of the pieces fall into the right place.
A project I've been religiously investing in ever since I had that aha moment of realization that made me see the immense value in it and the world-shattering potential it has to change the way we interact online, forever. Putting money aside, even though I didn't have much to begin with, month after month for the past three years and stupidly enough never taking profits out of rather only investing. Then seeing my investment get basically zeroed out by the actions of one small-minded egomaniac, all the shit that followed and in the end of this unprecedented shitstorm, it actually resulting in something we've all been yearning for ever since the inception of this blockchian is beyond exhilarating.
After all these years, we've finally managed to get rid of a central entity and its cancerous ninja-mine to once and for all decentralize this place both stake and governance-wise.
At last, we can move forward to unseen heights and dominate the Web 2.0.
If that wasn't enough to get your blood pumping, let me just mention that CoinMarketCap fixed the misrepresentation of Hive and placed it in its respective place by market cap. Moving it from 200th to 36th spot and bringing with it a lot of attention to this place. Going forward and increasing in ranks this effect will multiply and we will enjoy the benefits of free promotion.
What's peculiar about this situation though is that CMC fixed their mistake on exactly the same day that binance decided to honor the airdrop and opened up the doors to trading the token. Was it just a coincidence or were there some ulterior motives at play, is on you to decide. I would like to hear your thoughts about it because I don't know what to think anymore.
Moreover, I hope that you are aware of the fact that none of this would be possible if it wasn't for thousands of us being active on Twitter, all day, every day, 24/7. If not, then I suggest you take a minute to read up on my thoughts about it.
TWITTER HUSTLE MODE ON - Why It's Important To Be Active On Twitter Right Now!
It's more than obvious at this point that all of our efforts on that platform were not in vain.
I've seen many of you join this epic battle against corrupt exchanges, tron shillers and unscrupulous CEO's. One of the most historic moments being today. Through our collective efforts we've managed to push CZ's binance to distribute the hive airdrop and list it. Our tweets were a fucking PR disaster for them and they couldn't bear to see another day where every single one of their tweets was overflowing with our comments about their shady and criminal activities. The importance of upping our game on Twitter has proven to be vital and I'm thrilled to be a part of it. It definitely makes you feel like you really contributed to making something big happen, doesn't it?
It sure does.
I can't stress it enough how important our activities on Twitter are.
After all, it's the place where most crypto-related engagement happens on Wb 2.0. This is something I'd like to accentuate and incentivize moving forward because it's actually a crucial step in our journey towards mainstream adoption. I've been thinking about this for the past few weeks and one of the solutions I've came up with is to create a dedicated community where we can share the tweets that deserve attention/action and reward users for their efforts. I'm still polishing the idea but one thing is for sure.
I'll need your help to make it happen.
If you interested in collaborating and have some skills that might be useful for the endeavor, hit me up and let's work on this together.
Getting back on track with the hype, although things seem super-bullish right now I'd like to caution everyone to consider the potential downside we might experience in the following weeks. This kind of massive gains don't come without similarly immense pullbacks so buyers BEWARE! Non-financial advice of course but it's historically unwise to be a buyer during these market conditions. I know how much fomo you must be going through right now if you missed the boat to pick up some fresh hive while it was still cheap but a reasonable thing to do right now is to stay put and wait for a pullback because it's bound to happen.
DON'T LET YOUR EMOTIONS OVERRULE LOGIC!
Sun has approximately 10 million hive to sell, probably more. I haven't closely inspected the order books yet, but I assume this is enough dump-potential to crash the price to pre-pump levels.
If it happens that's your chance to shine. This is where we step in once again to fill our bags cheaply and teleport the price back up where it deserves to be.
That's at least my game plan.
I hope yours is similar and that you won't succumb to the age-old investment destroyer that fomo is.
Next couple of months will be insane.
Buckle up your seatbelts because we are launching off.
Cya up there beyond the Moon, far past tron, chilling somewhere in the top 10.
Oh, and one more thing before I go. Remember, this Sun/hive war is far from over.
Prepare for every possible outcome.
Is dumping 10million Hive enough to dump the price to that magnitude? Hive is on high demand right now and with 10k new traders purchasing Hive alone on huobi recently, I think 10million will be gobbled up with minimal dump effect(say around 50cents, which isn't so bad).
Turns out that it is. I did some digging through binance, bittrex and huobi order books and I must say that Hive's high valuation is standing on shaky ground to say the least.
Although on both binance and huobi order books only go to the 100th order the information I'll lay out paint a fairly grotesque image of what's about to come if it really comes down to a 10 million dump.
Here is what I found out:
10m Hive is 934 btc
6.5 btc would halve the price on huobi
8.4 btc would bring it to 50 cents on binance
And it would only take 31 btc on bittrex to get it to pre-pump levels (1.6k sat) and 56btc to bring the price all the way down to a single satoshi.
Can you place a theoritcal/speculative timeline on the worst case scenario? Also, is pre-pump 18cents or are you talking 9-12cents?
Worst case scenario is one massive 1 minute candle dumping to one satoshi on all exchanges. How realistic is it to expect something like that? Idk, Sun is completely fucking unpredictable but I'd give it a 20% probability just because he is a emotionally unbalanced, sick and deranged individual.
Although I don't think he is retarded enough to forfeit his coins that cheaply.
If I was him I'd rather do 5, 10 or however many mini-dumps (to pre-pump levels - 12 cents) I could get out of that 10m and if he is not too hot-headed, that's exactly how he might decide to play the hand he was dealt.
That's how he would get the most bang for his buck and cash out at a reasonable average price while simultaneously pumping steem in the process ofc.
Ah well, the beauty of it is that pumping Steem still opens an opportunity for transfer of value back to Hive and all it takes is a movement like the one that led to the creation of Hive. Once people notice the trend, there'll be lots of Twitter talk about hodling Steem for the pump, and once the Steem peak hits, sell for profit that will find its way back into Hive.
I just hope he holds out a little bit for me to get some liquid hive to trade for the future dump.
That's exactly what I'm trying to do but I don't think we will make it past the 29th 😭
Fuck 😭