Edit ⬆️ (As predicted)
Original ⬇️
A follow up to this post from 25 days ago https://hive.blog/hive-167922/@geneeverett/market-afternoon-check-in-just-some-short-thoughts
Ether now lower then the crash a month ago when we saw bitcoin at $26,000 & Hive below .40 cents. Chain and MANA still 30% higher
I’m getting my buying shoes ready as we speak!
I think money will be made the next period of time. Big money. Get things in order and be ready!
All charts from same period, just interesting to me how Ether is the worst. All I bought so far was some Mana (Decentraland) I had sold higher off last dip. This could get bad but it’s good to see bitcoin not doing as bad as Ether. If we are gonna break 26K in bitcoin it’s likely going to be quite soon. Buying shoes ready to go!
I have one major concern regarding HIVE. I believe HBD is useless and it’s a fail to need to dump Hive to hold the price up. I would probably buy back a lot more then the 9K hive I’m holding now if it wasn’t for this reason. HBD moves 10% some days then it spikes back up to around $1.00, but it’s downward artificial pressure on Hive that keeps it there right? It’s not backed by anything so as I understand it HIVE is moved to push it back to $1.00…. Well this won’t end great. It’s going to Hurt Hive as long as it’s the standard. Not anything leaving permanent damage and I love Hive and there are many reasons to hold it regardless of this issue I see. That said I will be buying less and only getting back to 25K - 50K Hive on a dip below .33 cents - .25 cents. Where I’d buy 10K now at .47 cents otherwise. Grabbing more just less.I know it’s a unpopular opinion here but I gotta call it like I see it. HBD moves 6% minimum daily and people can’t rely on it at any given moment. What’s the point of hurting our main tokens price with pressure just to prop it up. It’s a mistake and I think we will see this proven. I’m adding Hive now, just less above .33 cents then I otherwise would.
I could be mistaken about exact process but it’s correct Hive is used to push/“balance” price of HBD. It’s just pointless. HBD can’t be artificially kept at $1.00 without using and putting downward pressure on HIVE. It’s shooting our platform in the foot. I don’t see it doing any long term damage to Hive but only because we’d see this end once it’s clear it’s going that way.
Bought bit of ETH, BTC still „too high“ though I hope we won’t see new lows there.
Hive is due once we go below 0.35 cent
I'm buying at .33
Same
Some small bytes on way but that area I’ll go bigger.
Can’t argue with any of that. I just bought a small byte of everything I sold higher. (Chainlink-Mana/Decentraland-REN-Ether. Held off on much Hive because I expect lower but got a tiny tiny byte
An opportunity to buy at a discounted price
Indeed, but not all in. It’s going lower then this.
I just moved my LTC to HBD so I saved some money there.. I've got buy and sell limit orders for HIVE on ionomy.com
HBD is backed by HIVE.. it's a attempt at a stable coin.. I never used to be a believer but I'm coming around. I'm definitely collecting in on the 20% yield..
I always hate talking about HBD opinions since so many take it as me bashing our platform.I know u don’t bud just know many do. I just really don’t see it working. I don’t believe the 20% is sustainable. I hope I’m wrong👍
I just really think it’s gonna blow one day
Aka crash. Nothing doing permanent damage but ending the period of risk free 20%
might be a fan..I was anti-HBD for the longest time but enough of @taskmaster4450 posts and I've decided I
I like taskmaster , great posts and good guy. I just disagree.
I don’t wanna even talk about it as I know many get annoyed but I can’t ignore what I see.
This still my view ⬇️
I think there are many advocates for HBD, maybe @taskmaster4450 can offer more info about the hbd/hive pressure if he gets to read your post.
Also, I heard that some people are doing plays buying and then selling hive when its price spikes up just because the bot had to buy some hive to keep hbd on level.
And as the bot has to do more when the situation or demand changes it won’t be good.
We’ve talked about it in multiple of his posts comments. No further conversation needed. We’ve rehashed the conversation endlessly. I disagree with him. Respectfully so. Smart people can disagree. 20% rate can’t last unless price drops on it. It’s unfortunately the truth. Time will price me wrong or right.
Not to mention the whole it’s a stable coin is going to bring powers that be to tenet us if it does last. Hive should be the focus, not keeping a not even real stable coin stable. If Jan 1st 2024 it’s still in tact and interest is over 10% - 15% I will admit I was wrong. But secondly the dollar is loosing over 15% of its value this year. So it’s kinda just pointless to me to focus all our energy on HBD instead of a hive token itself.
I'm just wondering now what are the real useful use cases for HBD, I mean except the staking part.
I see a “stable coin” push but if someone depends on it being stable and doesn’t time there moves, any given way it moves from $1.00 form to .92 Cents. The argument I hear is it goes back to .99 or 1.00 hours or day later so it’s fine. If it’s use is for stable coin and they wanna promote use the hat expands bigger outside just here it’s worthless for that.
20% plus cant last
And after taxes it’s less. It is just keeping up with inflation and hardly. So in my opinion it’s ya not worth risk. I wish we’d fork it outta existence actually and focus 100% on Hive token.
The yield is not sustainable, history is on my side. I love this place and don’t want this to be true, many Friends here hold a lot of it. I just gotta call it how I see it.
The use cases being pushed aren’t really going to work. With what we have available now we don’t need it at all. The bot system that keeps it floating in a general range hasn’t been in place very long. I just feel I’m seeing people ignore some basic issues because they wanna believe they can get 20% interest indefinitely. I always felt this way but now it seems like many wanna get HBD expended for mass use. It would be a huge mistake.
This is a new push to expand and label it a stable coin and it’s not going to end well.
So if I don't want to stake HDB, there's nothing important that I can do with it. As I see it it's much more productive and safe having HP than keeping your stake in hbd.
I couldn’t agree more 👍
Cash Crash Clash...
yea, time that market.. :) I am already waiting for HIVE to make it's move back up now.
Back up. No back down my friend. Just since this post look/.
I think there are lower prices in store so I don't plan on shopping just yet. I know we disagree on HBD so I won't go into it that much but I think it has potential if done correctly.
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Exactly right, this set up not just in crypto but everything it’s gonna get much uglier. I’m actually taking some small bytes on a couple things early but not more then 5% of what I got ready to buy. Most of the bank is waiting indeed. Yea HBD that will play out over the next year. We’ll talk 👍
Follow up