It's that day ! HPUD, the day when we all pile a bunch of HIVE into Hive Power.
I powered up 50 HIVE; I'd like to have done more, but real world life means I haven't got any spare fiat to buy more liquid HIVE right now. Slightly frustrating !
Image by thomas wilfert from Pixabay
With the crypto fear index at 20 (extreme fear) now is an ideal time to pick up any crypto's you are interested in. But always with cash you can afford to lose if it all goes south.
Having said that, with the economic data the way it's going and banks slashing interest rates to try to disguise inflation and maintain their huge margins, fiat feels like the biggest slow-motion rugpull in human history anyway.
It's interesting to consider that one of the main contributors to the fall of the Roman Empire was the debasement of it's currency. Mixing lead in with the silver so you could mint coins at lower cost while the face value styed the same. People weren't stupid, they knew what was going on, and found ways to get around the rigid price controls imposed by various emperors.
Nowadays, the debasement is more subtle, but it's still there. Coming off the gold standard then printing money by issuing paper debt bonds backed only by supposed trust in the issuing country's economy and it's military strength is a prime example.
My view is that having crypto and tangible goods as key parts of a balanced portfolio is a great way to reduce the risks of holding fiat currency. The backing for crypto is based on a mix of the fiat people have put in to create market capital and the confidence of investors that any particular project is worth it. To my mind, that's better than the non-existent backing most fiat currencies have.
So keep on building your hive Power and HBD stacks, everyone ! It might just be your final reserve if the day comes when governments cancel fiat currencies !
Congratulations @alonicus! You received a personal badge!
Participate in the next Power Up Day and try to power-up more HIVE to get a bigger Power-Bee.
May the Hive Power be with you!
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