Thinking about the recent pumps and what changed since then. Only the price on the chart changed and it's not like the platform did.
I'm not trying to be a downer here, it's great that more exchanges are listing Hive and we're getting more visibility on the token.
I guess those DHF money shelled out are finally paying off right? right?
And I guess the price pump managed to lure in more accounts motivated to be active right? right? It's just history beating on the same rhythm when pump euphoria happens and people get motivated to do something then hype eventually dies down with the price.
When the baseline price was 0.3$ (hypothetically) for a long time, people just got used to it so when the price moved to 0.4$ (hypothetically), there's this euphoria happening and eventually people got used to it. So when the price reached above 0.5$, what do you think happened? People who sold early wished they held longer and people who accumulated early celebrated. The opposite happens when the price trends down.
With the above paragraph describing what the market does on Hive price, has anyone ever felt that with the increase in price, the platform and ecosystem we knew improved? or when the price went down, did the ecosystem we were familiar with changed that much in the recent pump and dumps? nah, it's just the same old system but with a different price label.
The content people make are the same types as they were yesterday, the DHF still shells out HBD on a lot of projects that contribute to sell pressure, there is still more incentive to keep your Hive liquid to take advantage of the pumps than keeping it staked, and you earn more liquid Hive rewards just from having your Hive parked on Binance from their 70% APR flexi earn program than our own blockchain that offers ~13% staked and trapped for 13 weeks.
As much as I make it sound so bad, it's not that. I have always been neutral about Hive's ecosystem and just accepted that this is just how the people in it and the market operates. The point I'm trying to make is that regardless of the price, it's really the attitudes of the people within the community that shape the user experience.
From experience, price of a token being the reason to continue shitposting is a weak motivation compared to having some purposeful action tied to what you do in the blockchain. If you're building something that matters here, I don't think being preoccupied with the price of Hive to gauge your project's worth is the right way to go.
I got HivePH as a community and whether the Hive price went on for weeks at 0.2$, it didn't stop me from getting involved since what I do matters for the small group I'm in. That gave me time to accumulate some Hive before the pumps happened and this was a time when I was more inclined to believe that Hive was going below 0.1$. Sometimes it's just that, you get rewarded not because you knew price direction but it was just luck being on your side and it rewards some of your efforts.
But my actions didn't matter in the grand scheme of things, my convictions to the price didn't count for shit, but there it is, the pump and dump supported by more rallies. It's more along the lines of luck than skill at reading the chart that it happens. When you position your account to be ready to take advantage of a pump or a dump, your luck increases to greater folds than when you don't have anything to prepare for just in case. It may or may not come but when it does, you win when you prepared something than doing nothing.
Thanks for your time.
The funny and annoying thing with the price changes up is that it tends to bring back a bunch of people who largely left it alone. It’s pretty silly but I think a lot less people reward them for their content if they come crawling back just when they see the price is up. The builders stay and the leeches come and go!
I notice this but try to be a little chill about it. If we start discriminating about these behaviors too much, there's more reasons for them to not participate even further and this makes interest unsustainable. The price will attract all attention but we need to nurture builders, that's why my bias is rewarding those that stay longer than those that have yet to prove themselves over cycles.
@adamada, you're rewarding 1 replies from this discussion thread.