Okay, okay - I was expecting some speculative volatility, but this is ridiculous...
+100% in 12 hours.
I was selling and hoping to catch some dips for the next run up, but as you can see from my re-buy points, I sold much too early and it will be unlikely that it is going to drop that far fast enough for me to catch the next run. Well, I am happy with what I was able to sell at ... I should have gone to bed and stopped watching at that point.
Gotta say though, someone really wants some HIVE tokens.
This was on Bittrex as Binance still has withdrawals closed, which is why they and Huobi had to accept the terms of the airdrop of HIVE to STEEM holders, because if they didn't there would have been an uproar as their clients wouldn't be able to withdraw to get them onto the chain for the snapshot. The two exchanges hold about 37 million STEEM between them that is still powered up and is being released over the 13 weeks.
Whenever there are airdrops like the one Hive will perform, there will be people who want to maximize their token drop. After that, I am guessing there will be a relatively rapid decline in at least Steem, as those who have committed to the new chain dump all they have onto the market. But, this is speculation.
It is nearly all speculation and hype for the most part, but at least when it comes to Steem and now Hive, there is more to the project than just speculation, as there is a community of users and applications behind it. This gives me some peace of mind, as due to the user base and token capabilities, there will always be some value in the token.
"Some" doesn't mean "a lot".
But, one never knows what will happen in crypto and what projects will rise and fall long-term, because so far, non of the projects have a long history, including Bitcoin. 11 years is nothing for a business, but it doesn't look like it is going anywhere fast either, so the next 11 will be interesting. With the price at what it is today and the halving coming up fast, those with some cash to spend are likely going to make a fortune, those without the disposable income are well, going to be in my position.
2020 was meant to be a booming year for my family, but in less than two weeks, a house we haven't moved into yet is losing value, my business is all but dead due to a global flu and my second job is now my main job, and that is going to be affected also, not to mention, my wife is only six months into her position and is likely on the last in, first out list.
But, practice what you preach is the order of the day and it is a suck it up position and do what it takes to survive to give the opportunity to thrive later. Sometimes loss is unavoidable and it all comes down to limiting the loss and mitigating the conditions.
Come Friday, the next chapter of my blockchain journey continues onto a new chain and while there is again (still) a great deal of uncertainty, I will continue on working toward positioning myself in a place that has the potential to one day lower the affects of life challenge on my family. I am not expecting it to be in the first months or maybe even years, but I am planning that there are years of life ahead, so it is imperative that the ground work is laid now.
But on that note and with no liquids, I can't keep watching the price of Steem increase, so I will go to bed happy in the knowledge that if push comes to shove, I have a little Bitcoin I can use to feed my family with, if needs be. I am yet to use even a dollar of crypto for anything personal and at these prices and with the amounts I hold, I don't think that is going to change for a while.
Night all and for those who do have some liquids, have fun out there :)
5100 sats now.
Taraz
Ahh well next time? XD
It's still early in the year, it may boom yet.
On the house front I don't know if that's better or worse than the slow decline we've been experiencing XD
For the house it sucks, as we have conditions on the reno portion that means that we have to increase the value past a certain point. Plummeting prices kill us.
Looks like a "little" steem pump as I slept
I hope your movement is safe and hassle free. Lots of jobs are being affected by the coronavirus and it is worrisome what will happen after the dust clears.
I'm still trying to wrap my head around how we moved from justinsun buying steemit Inc to the migration to Hive. It is so surreal. Don't people talk any more, amend opinions, make concessions? Are these not business people?
I have some liquid steem as I have actually powered down for some purpose offline. I could sell but I think I'd rather keep to build a suitable Jive wallet. Who knows what tomorrow will bring.
It is my hope that the developers and witnesses on Hive do not become isolated from the community and possibly, they can pursue the vision behind the founding of steem to its fullness.
No one knows what the future holds for crypto. Whether these blockchain projects occupying the crypto space today will survive the test of time, only posterity can say. We can only tag along, enjoying the knowledge of being pioneers, of being part of a revolutionary way of seeing money, and hope that policies, developments, structures built into chains work, and not only hold but expand into mainstream acceptance, the chains.
Will be seeing you, Taraz, here and there. Nostalgia mostly in my thoughts. Where they really good old days?
No, people don't talk or negotiate, especially across the Internet. They did try for awhile, but I considered it largely fruitless as no trust could be built.
You might want to sell a bit of steem just in case it drops heavily after Hive launch as currently it is up 200% However, it is your call.
People confuse good times with good old days. Good old days are often due to the overcoming or survival of adverse conditions. I think they may qualify.
I will definitely sell some. I have actually been selling for a while now for one or two offline issues.
People get to be nostalgic, like me, about a rose tinted past.
I am thinking of ways to leverage on this self distancing and the possibilities of new systems of doing business that may arise from it. No good ideas yet.
Ironically many might not dig into the workings behind this and chase Steem for Steem, when it'll likely be dying out. Justin can get a superficial boost to his ego with the price movement, but the funny thing is because it's probably people fomo'ing out for the exit.
I'm still just keeping it simple with BTC and ETH buys for now. I'll earn on Hive if I can attract some fair attention there, which will be amazing with many of us stuck inside.
I think if someone has some disposable income, there is the chance of playing with the volatility and capitalising on it. Though, that isn't a game for everyone.
I will continue on Hive and have fun there too.
The pump now is a perfect storm of so much exchange supply staked now and the airdrop. I hope people don't chase in thinking the Hive price will be 1:1 with Steem now because they may get crushed when Steem falls back.
It's good for catching the eye of the crypto world though to draw lots of attention over to the new chain.
I don't think most will get caught by this, at least if they have been paying attention to the markets at all, ever. Though, there will be exceptions as always. And yeah, there will be some attention hopefully from this pump and dump.
You never know, even steem may pump, if Justin does a twist - so people may profit from both. Only time will tell. I regret not buying couple of days before 😀
Yep. I never expected this pump, so even if I had set sells, they wouldn't have been anywhere near 8000 sats.
Seems like I have plenty of catching up to do! I can relate in the home situation as it has been about two weeks since we finally sold and moved. The days leading to the closing were unnerving as we kept reading about the shutdowns. Luckily, it all went down and while we are still settling in, at least there is cash in the bank. Hopefully, I will have time to see what I do with Steem/Hive...
Yes, you have some reading to fox but all in all, see you on Hive soon :)
Hope the move went well and you don't have a sore back. Our move is coming up fast and with the corona stuff, we are unlikely to get help.
I ended up hiring a company despite doing 90% of thr packing and while I hated paying $1,000 for it, it came well worth it! Best of luck!
We are unsure if we can even get a moving van at this rate of lock down.
We don't have too much large stuff to move and will likely only need one set of stronger hands for a couple hours. Most of it I hope to premove by car.
I have some #Steem that I could sell and it would be helpful for my econonmy, but I will wait to get my #Hive tokens and see what the price is. Exciting times ahead.
Yep, it is up to each of us how we plan to play this game. It is exciting and because I haven't used any ever, it is all a bit unreal to me.
Yeah dude.. I had some Steem sitting on Binance that I was waiting to withdraw but then I sold it right when I found out about Hive. I was worried that Binance wouldn't support the fork and my coins would be stuck as Steem on the exchange. If only I had waited a couple of days!
Then the breaks in crypto unfortunately. There will be other opportunities to come.
Do you really think it is people buying because they want to receive as much as they can of the Hive airdrop? You Know Justin Sun bought ten million dollars worth of Steem and it didn't pump as much, at least not so quickly. Have you ever thought it might be Justin buying so he can have a huge amount of Hive?
I hope he does. He will be heavily invested in both chains (much less so in Hive) and have the incentive to build both. I hold both.
Maybe, but he would have a big voice in Hive too. I expect to hold both too, with the small amount of Steem I have and if I do get the airdrop a small amount of Hive and I don't see why I should sell either, at least not until I know where things are going. Hive will be completely new territory, so it is a risk to put all the eggs there, and I really would like to see both chains propser.
Nothing wrong with a big voice.
Well he wouldnt be able to put his people as witnesses but he would have a big say in who is a top 20 witness. I wonder if @freedom will get the airdrop?
I am guessing freedom will, since it isn't a Stinc account - otherwise it would have voted on the sockpuppet witnesses.
Good post
useless comment.
good reply
Thank you dear
Seems allot of us dumped on the way up and yet there were others that kept buying at those prices.
What is the top exchange in volume that will actually list Hive at this point. I need to open an account somewhere to purchase Hive after it goes live.
not sure, but I opened an Ionomy account as I know they will list.
I checked out Ionomy and it doesn't have to many coins listed probit seems to have most of the coins listed and from the HIVE twitter account they said it will list HIVE but I don't see it yet on the exchange like you do with Ionomy.
Not a great deal of much there, but at least there is something.
Oh, and I am guessing @blocktrades :)
I didn't quite hit the absolute peak but I did sell some Steem at 7700 sats which I was pretty happy with
not bad at all. i wasn't expecting such a big run and went out much, much too early :D