When the price of Hive drops, what are you going to do?

I'm no Crypto-Guru. I hold a modest amount of crypto in a few thin, weathered wallets across the internet. This essay is for me - not advice for you. And yet, if you like what you read, great! And for those of you who possess Token-Savvy above and beyond me (read: just about everyone), PLEASE call out any errors in the comments. I'm open to learning.

I'll admit, I was pretty excited when Hive hit $3. My humble Hive account seemed more like a hoard. But, it was a short-lived thrill - much like my marriage decades ago...

So now, we're back at - call it $1.63 per Hive. And a sub $1 Hive Backed Dollar (HBD) at 94 cents or so. Not exactly riches to rags, but I won't be picking out a new Tesla anytime soon.

I wonder to myself, how would an intelligent person play this pull-back?

Turning to the internet once again, there's no shortage of crypto investing advice out there. It seems that anyone who's had the fortune to buy a token at 25 cents and sell a few weeks later at $4 thinks they're an overnight Warren Buffet. They set up a YouTube channel, bust out a fancy website, and present themselves as a Blockchain Baron dispensing advice to the masses.

No thanks.

I did stumble upon a pretty cool podcast starring a couple of colorful characters, though, who talk all-things Hive. I've listened to a half-dozen episodes of the Cryptomaniacs Podcast and am now working my way through back issues. Featuring @jongolson and @Taskmaster4450, I find them to be kinda fun in addition to informative. (You can find them here: Cryptomaniacs Podcast)

Adding even more value, they host some very heavy-hitting guests on their show. I've listened to episodes featuring @theycallmedan and @arcange so far, but there are other excellent guests that I've yet to listen to, like @blocktrades and @Markymark. I'm excited to get to those episodes. They are well-known names to me from my time here on Hive and the previous Blockchain-that-shall-remain-nameless, a lot of us hung out at previously.

Suppose I'm looking for insight into Hive-enomics. In that case, I'd be hardpressed to get any more authentic information than from the very OG of the Social Blockchain Builders. So, I'm drinking deep from that well...

In the last show I listened to, they discussed the topic I'm rambling on today: the drop in Hive prices. You have to admit: it's a very timely subject. But you know, we've all experienced this phenomenon before, no matter what coin or token you collect. Markets swing up and down and back up again all the time. It happens in the stock market. It happens in real estate. And it happens in gold and commodity prices all the time. I'll let them offer the advice - give them a listen. But I did agree with much of what they had to say, and some of that I'll include below...

Timing is everything.

And so, back to the main topic: what to do now that Hive has retraced back under $2...

I think I have Four Viable Options in riding out this latest pull-back.

Create.
Curate.
Diversify.
Deposit.

Create.

I'm going to continue to create content on Hive.

Honestly, that's the best part of Hive.io from my perspective. I enjoy writing. I love sharing my travel experiences via TravelFeed.io. I'm sharing content on topics that I appreciate and want to blog about. And I get a real kick out of your Upvotes when something I've put into digital print is appreciated. Oh, and I kinda like the Hive and HBD that go along with all of that...

If I continue to create content on Hive, despite the rise and fall of market prices, then I'm continuing to do what I value every day. That's a big part of why most of us are here anyway, I suspect. Building a community we want to be a part of, one post at a time.

And by continuing to create and receive rewards, we're continuing to build our Hive and Hive Power. And when the Market Gods smile on us again, well, there will be that much more honey in the Hive to appreciate in value. I'm going to keep creating, rain or shine.

Curate.

You know, when Hive was $3, I wasn't getting rich from curation rewards. But now that we're under $2? I'm not seeing much of a change so far. Still not getting rich!

Curation rewards are the gravy of this turkey dinner. It's not the main course, but it makes everything else taste a hell of a lot better!

I'll admit it. I use a few quality curation trails to Upvote content on Hive. I spend a lot of my time writing. And you know, finding great content is a lot of time-consuming work. Fortunately, @curie, @curangel, and @qurator are there to do the heavy lifting of finding amazing content to reward.

I use @mahdiyari's Fanbase to manage my curation trails, so most of my curation is on autopilot. But....

I review every post that my curation trails Upvote.

I read the posts. I look at the photography. I savor the recipes and pictures of incredible-looking foods from around the world. When I read travelogues, I wonder at all the places I want to travel to. And I enjoy a lot of the art, music, crafts, and just plain silly stuff you fine folks post about.

And then I comment, comment, comment on those posts. And when folks reply to my comments? I Upvote those comments, too.

Curation is a lot of work, but it's also the electricity that runs through this social blockchain. And although it doesn't amount to much Hive financial rewards, the cultural and community rewards are through the roof. I have people from around the globe offering to show me around their country, buy me a beer, take me to a soccer game (football for all you non-US readers), or just wish me and my family well. And what's not to love about all that??

Diversify.

Moving into the nitty-gritty of Hive-enomics, I'm guessing there are some smart moves to be made during this temporary dip in Hive price. This is where I'm a little less sure about how to proceed. But since I'm mostly talking to myself here, this is what I'm thinking...

Hive Backed Dollars (HBD) is pegged to the USD. When HBD slips below a buck? Maybe I hold a few in reserve? Perhaps as the HBD moves back to par with the Greenbacks, I power them up into staked Hive Power.

If I tuck a few HBD into savings when the price is $.95, and power them up when the price heads over $1, then I'm making five percent on the move. And this is in addition to the 10% APR we're earning on HBD when we put them into savings. That sounds like a double win to me.

I'll admit this, too. I have a hard time NOT powering up all of my Hive. I enjoy having more power to Upvote posts and seeing my Hive Power stats grow higher. And yes, as Hive moves higher, that Hive Power will increase in value, as well. And this is on top of a smaller but still better than bank savings account interest rate of 2.87% on your balance. This feels like another double win to me...

I'll try to resist powering up all of my Hive, to diversify between the options, and play the percentages, but... I do prefer Hive Power over all else.

Deposit.

So, here's the deal on depositing funds to buy Hive or any other crypto, real estate, stock, or commodities... I mentioned Warren Buffet earlier. Buffet says to be a buyer when prices are low, there's blood in the streets, and everyone else is a panic seller. And when prices are high, and everyone else is maniac buying? That's the time to sell.

I'm watching the price. I'm primarily creating and curating, but yeah - I'm watching the price. If it continues to fall lower, I may just tip-toe into depositing personal funds and buy Hive on the cheap. For myself, that's the only time to buy any investment: when there aren't a lot of others buying and driving the price up.

And if Hive doesn't sink to the point that buying seems like a slam-dunk, killer investment? Well, good! That means that all of the Hive and Hive Power I've accumulated during the downturn will be worth more. Maybe, a LOT more. And that's OK with me!

So, while the price of Hive drops, what am I going to do?

Create.
Curate.
Diversify. (I'm going to try, but I DO love powering up...)
Deposit. (I'm watching the price and watching for blood.)

Friends, if you find any of my thoughts here lacking sense or just in need of a bit of refinement, PLEASE comment and set me straight. As I said, I'm not a Guru or a professional trader. And I'm indeed not touting any investment or strategy for others. I'm just thinking out loud - or rather, thinking in print.

Thanks for following along, and I look forward to reading your posts and Upvoting your excellent content. No matter the price of Hive.

Cheers!

@braveboat

Images courtesy of pixabay.com