A friend saw the HBD change in price and contacted me to find out what they should do with the HBD they have in their wallet, that they had been saving for just such an occasion. I dislike being asked about what to do with someone else's money, as there is too much risk of bad blood, since in such a volatile area, it can swing either way wildly. If I say "sell" and HBD increases, they can blame me for missing out on additional HIVE. If I say "hold" and HBD goes back down, they blame me for not taking the opportunity. There is only a narrow path to being right - and it is mostly luck.
Don't get me wrong here, I do not dislike the person doing the asking, as I understand exactly why they are asking, but unlike a banker, I don't I can't just walk away if things go wrong and, I prefer people to make their own decisions.
It is different when I write a general level post however, as it is not for anyone in particular, it isn't targeted and anything I say is up to the individual reader to do with as they choose. Even if it might be advice, it is unsolicited and should be treated like a conversation overheard at the bus stop. A reader can make decisions to act in any number of ways based on what I write, but it isn't on my head. Having said that, I generally tell the things that I do or would do in various situations, so if anyone follows, I am in the same boat, whether the tide rises or the ship sinks.
So anyway, HBD pumped last night my time while I was asleep, so even if I had some, it wouldn't have done me much good. Funnily, I used to have 3000 HBD I bought on an exchange waiting for this, but I got bored of waiting and sold it a couple months ago. If it did happen to go to sell at the peak of about 4 dollars, that would have been the equivalent of around 85,000 HIVE. Impatience is costly.
But, I do not think that I would have been able to sell, as I had it on Bittrex where the high was at $2.12, but on Upbit, the high reached $4,21. It is actually quite interesting I think and speaks of just how easy it is to pump - in Korea.
Currently, 97.02% of the volume on HBD was on one exchange and it has a 24 hour volume of 5.7 million dollars. For those playing at home, there are 4,476,113 HBD currently in the supply and since they are meant to be pegged at 1 dollar, that means that about 125% of it was traded, which is incredibly high considering that there is a lot of it locked up in wallets still, I assume. I don't know how much HBD is on the exchange, but it looks like it was trading backwards and forwards between the same hands a lot in order to generate that kind of volume.
I don't know if you are "old enough" to remember all the way back to the end of 2017, but a similar pump on what was SBD at the time, was the precursor to the run on Steem to the all time high of 8 dollars. It was a little different back then though, as STEEM was already above a dollar at the time and nearing two, so for a very brief time at the peak, it was possible to get a 7-8x ratio between the two. I don't know what was the highest someone got today, but it looks like it might have been possible to get 20 HIVE to 1 HBD - pretty decent.
The other thing that is apparently different now is that there seems to be a lot more HIVE liquid than there was back then, as while the supply is about 380 million, only 140 million of that is vested. What this means is that there is only 2/5th of the HIVE with the possibility to distribute from the rewards fund, which is pretty disappointing. People talk about supporting people in the community, yet there is a lot of HIVE out there that doesn't seem to care. This isn't much of a problem for the pool itself though as it will still be distributed by those who are here to those who are here, but it does lower the voting diversity a lot.
If the majority of that liquid stake was powered up and actively voting, it would very likely be spreading HIVE more widely, as there would be more eyes looking at content. However, that would mean that all posts would be earning less than they are now, as there are essentially more spoons in the pot dishing out HIVE. It is one of the reasons that as far as earning HIVE goes from content, this has been about the best time there can be, if you are able to get the attention of voters.
A lot of people complain that getting the attention is too hard, but this is about as easy it can be, as there are so few people vying for eyes. If you imagine that HIVE goes to 5 dollars and some are potentially earning thousands per post and many more thousands per week, you can probably guess that one or two people around the world will be interested in taking part. Plus, old people will return as they have been over the last few months due to the bullrun on the market and the expectation that it will arrive to Hive also.
The competition will ramp up, as will the people trying to game the system. With so much value flowing, there is going to be a great deal of leakage that will go unchecked. I am actually okay with that for the most part, but I hate it when I see people who already have decent support start to act like assholes. Back in 2017, I think that half of the new accounts created at the run on Steem were alt accounts so that people could selfvote and without discounted flags, no one did anything about it at all. I would rather a million nothing accounts of individuals succeeding to scam a few cents or dollars where they can, than a handful of large accounts who have been here for ever, scamming for hundreds of thousands.
But, this aside, what I hope the most is when HIVE does eventually start moving, more attention from the growing global crypto community gets brought onto the blockchain and see that when it comes to a community-powered network, Hive is the only solid game in town. I am also hoping that people will very quickly realize how much can be built on Hive without suffering the exorbitant transfer fees that most other blockchains charge to use them. And then, have them discover the real power of owned communities and the possibility to build unique and tailored experiences, whilst still enjoying the benefits of the entire community and the stability of shared, decentralized infrastructure.
I have no idea if HIVE will follow in price and start to reach new highs, but I do believe that it should be getting attention in the market place as a community that is doing it utmost to provide solutions to some of the problems the internet is currently facing, with deplatforming, banning, censorship and of course, constantly extracting the value of the user base while giving nothing in return but an algorithm-driven feed designed to extract value more effectively.
At the moment, there are all kinds of people asking the question "is there a better way to internet?" and here we are, proving time and again, that there is. We just need to capture the attention of the social marketplace and welcome them into the future normal.
Taraz
[ Gen1: Hive ]
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Getting attention isn't that hard, I guess it depends entirely on how much attention you want, what kind and what for, I think people focus too much on how much? XD
People can keep asking if there is a better way to internet but what they currently actually want is for things to get whatever their definition of "better" is without them having to change anything they're doing.
Some publicity is good publicity :)
One of the interesting things with Hive is that more people would have access to build their version of better, giving the average person more chance of find something they like without having to change much.
The good part is that being here since those early days. We have an appreciation for what was good and bad about them.
Hopefully the holders left now are the ones who want hive to succeed and follow best practice if we do see a higher price. Practices that will bring more people in and not drive them away.
There have been some good foundations put in place this year and for such a new project we are in a very good place going forward. We have a small bit dedicated community building here and that will grow over time. If we see a dollar for hive I guarantee that a lot of old faces will spring back up very fast and we will be laughing after spending the year accumulating while times were tougher.
Yep. And I also hope that for once, they are able to be the ones that benefit themselves too, rather than bankrolling those who only extract :)
There is a lot more going on here than there was then and while complex, I think that if we can pull in some devs that are interested to build with UX in mind, we have a very strong possibility of making an impact on the industry.
I always hope that they have at least lost their autos - but most don't. I have seen people come and go three or four times and still get votes....
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To capture attention, we need to make things simpler. Register, post, earn. This is effective marketing.
Problem is and always will be those complicated keys. Whatever the blockchain. Until everyone has the grasp of it.
After that, the immutability of blockchain could pose problem in some cases. A "forever there" log of things someone said can be both a blessing and a curse.
Simplification is indeed needed and a decent UX team could make a big impact. It will happen eventually.
On immutabilty, the Internet is already "immutable" it is just that only a handful of companies have access to it all. However, they will dredge when it is in their favor or can create drama for profit. Transparency dilutes the value of information and distributed the potential to earn from it. Currently, five or so companies own it all and use it for narrow investor gain.
Knowing everything I say is public is kind of scary. I'm probably not the only one.
Yeah, it might be scary for many, but the interesting thing is that the only thing stopping it from becoming public now, is whether Google, Facebook, Amazon etc choose not to show it. There is an illusion that it isn't public, but everything is tracked and logged. Most of what we say online is already public anyway, which is why so many Twitter users (celebrities normally) get 10 year old posts pulled up to punish them in some way. Even if they do delete them, they are not purged.
Someone better catch something, thirty two minutes in and you have no comments.
What, like Corona?
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No I wouldn't wish illness upon anyone, I was just funning around with your statement:
ah. You think that every post needs to capture attention of everyone?
Information only need to capture the attention of the right audience, at the right time. Sometimes, that attention only needs to be the focus of the author themselves, as it can inspire the next thought, and the next.
We live in a world of regurgitated content and low thought shares, while critical of people who actually think.
This is why we can't have nice things. It takes all kinds of people to make a platform a success, snobbery and insults won't get you there. I would never think to rob you of the high esteem intellectually that I regard you, one reason I was drawn to you in the first place but none the less rubbing elbows with others isn't going to catch you a bad case of cooties so relax. You write the serious thought provoking stuff and let the rest of us regurgitate whatever it is that inspires us even if momentarily, nobodies forcing you to read it, if that time ever comes I'll defend your position.
Interesting. This wasn't directed at you at all, yet it seems to have hit a nerve. I didn't even know you were still around.
Being a blogger with the virus, the election and basically fighting the information war and censorship I just haven't had the time to give your articles the attentions they deserve. With the market swings being thrown into the mix creating a lot of drama respected opinions often helps put things into perspective. You'd think I'd done learned not to try poke a bit of fun with you because you take things seriously, maybe a bit to much, but there is nothing wrong with that at all, hence why I call you my Mr Douglas of the blogs.
Congratulations @tarazkp! You received a personal badge!
See you at the next Power Up day to see if you will repeat this feat.
May the Hive Power be with you!
You can view your badges on your board and compare yourself to others in the Ranking
I had a little bit of HBD sitting in my account. I converted it to Hive at $1.50 and I don't feel bad about that at all. It was a pretty good thing. It was more than I had been getting. I don't think I would have been able to time that $4.00 right anyway. I was a little sad when I saw that it had been in the $3.00 range, but again, I was just happy to do the $1.50 that I got.
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Hive's power resides in its strong and diverse community, in addition to its many niches. I'm here for that! and I can smell that a lot of good things are cooking and they will soon be noticed.
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