How in the world am I ever going to come up with the money to make it to 6 digits?
Well that was easier than expected!
I seem to have made it to that legendary unit-bias realm of six digits.
At this rate I'll be a millionaire in no time!
Granted, I plan on powering down early November in preparation for a possible winter bull run. Bitcoin up to $20k flash crash down to $13k is what I'm hoping for. Even if Hive doesn't go up during that run up I still have to sell some because we have a history of crashing regardless.
10 cent Hive is definitely still on the table.
I wonder if I'll be in the position to buy some if/when that rolls around again. Probably not. I rarely ever am prepared for the dip. Ah, the life an and uber bullish bull is tough. I get the feeling I'll be sittin' pretty in 2021 though. Right at home during the 4th year of the Bitcoin halving cycle. I guess we'll find out.
Gamble Gamble!
Once again I find myself in an EXTREMELY overextended position where I don't have nearly enough funds in Bitcoin and Eth compared to my Hive holdings. I justify this risky play based on the fact that I have no plans to develop anything on Bitcoin or Ethereum, ever, but I do have plans to build on Hive and learn as much as I can in terms of our API combined with Node.JS, JavaScript, and MySQL database.
Everyone is still talking about Hive's tokenomics system being broken because we haven't seen any price action since April. I refuse to acknowledge that kind of shortsightedness. Save your opinions until after 2021 is over.
That being said, even if Hive does get a huge x10-x100 run up during the next mega-bull-run I know that the crash afterwards will be just as violently glorious as last time as it always is. Our liquidity is so notoriously paper-thin; a day-trader's dream and a holder's nightmare.
No one says anything about the dev fund being a waste of money or the reward pool being a burden to the network when the price is going up. Go figure. Perhaps it's not Hive that needs to change, but our attitudes.
We often get the one super fast burst up followed by months and months of declining price action. It just so happens that during those declining months of price action that everyone decides our entire system is broken... lol... just stop. Our tokenomics do not fluctuate based on how you're feeling this month.
The overhead cost.
There's a reason why Bitcoin's unchanging nature is a feature and not a bug. We get firsthand experience with that on Hive ALL THE TIME. Trust and stability are the greatest assets, and when 20 people can get together and make decisions for an entire network that is not going to be appealing to quite a huge online community.
Make no mistake, our ability to make decisions quickly in a centralized manner is both a blessing and a curse. It isn't right or wrong, it's simply diversity, and diversity is exactly what the cryptosphere needs above all else. "Run in every direction at once and see what sticks." This is the motto of flat architecture.
Hive has been sticking around no matter what gets thrown at it.
If we had been a corporation we'd of already died a dozen times over already.
We are already reaching Bitcoin levels of undeath.
Bitcoin dominance
There's a very good chance Bitcoin starts outperforming everything again for quite some time. Why? Corporations jumping into the fray. Corporations aren't going to touch anything but Bitcoin. That's hundreds of millions of dollars entering Bitcoin alone, and the only way for alts to get any love in that scenario is for Bitcoin users to sellout to the corporations and start pumping the alts. It will probably happen that way, but Bitcoin will have to be significantly above all time highs for it to be worth it to Bitcoin HOLDERS to exit in this way.
When a corporation like MicroStrategy can dump $425M into Bitcoin and have their stock skyrocket by $700M... it's really only a matter of time before 2021 comes around and the market starts going batshit insane. Everyone's forgotten what it's like to be in the midst of mega-bull run FOMO. We've all been acclimated to a devastating bear market, to the point of convincing ourselves that DeFi is already in an unsustainable bubble when the bubble hasn't even started yet. Pretty nuts.
Hopefully that Uniswap airdrop has prepared some of you for the roller coaster of emotions you get exposed to when "free money" is concerned. Trust me, that was only the opening act.
Ramble on.
Well I guess it's time to kill it before I go on a dozen other tangents.
I did the thing.
Six digit Hive.
Go me!
Welcome to the club!
Nice!
Congratulations.
Posted Using LeoFinance
Thanks! You are the one person I remember started here in Dec 2017 just like me.
Damn that's some big boy moves, double orca! Lol let the games begin, bring on the run lol
I took most of my Steem and converted it to BTC and ETH. I'm not going to lie as I miss out on DEFI I'm finding it hard not to buy the dip and power it all up on Hive again as I had with Steem at the beginning of the year.
I'd say that was certainly the smartest play.
The grass is always greener somewhere else, but guessing where that is turns into a fool's errand.
Hold on hive let grown a lot in the future and get you the sixt digits it is a good number to had in mind as a goal.
Posted Using LeoFinance
Beastmode!
Congratulations on the digits :)
I made it to 96K, and then powered down 20K to buy Splinterlands-land. Missed the cutoff for that Uniswap airdrop by 63 mins. Them's the breaks, I guess. LEO's trying to make up for it. I'll wrap that when my powerdown finishes. Going to also run a market maker on Hive engine. SWAP.HIVE:SPT
So much going on right now. Love it. Keeps me thinking.
Good job! I appreciate reading your predictions on bitcoin and in return. I recommend putting a bit of money into foods and other emergency supplies. Things are about to get bumpy this winter and beyond.
Congratulations on your 6 digits, well done mate!
The dev fund if used fairly is an asset IMO, but with such a huge fund there's always potential for abuse. It's really up to the big stakeholders to keep the abuse in check. So you're absolutely correct when you say it's our attitudes that need to change.
Common sense thoughts on the tokenomics of HIVE as always.
Posted Using LeoFinance
Happy unit bias day!
You can DO more with Hive you're right, it's why I keep buying up bits here and there, but I'm also happy I've got more BTC since the split.
My next limit buys are set at what should be around 10 cents, but who know with BTC price fluctuations.
That's pretty cool to know. Yopu are warmly invited to visit my blog.
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Congrats on reaching 100k let's hope for a great 2021.