My feed seems to be filled with people discussing Hive's movement today. It seems to me that we are about to go into Casino time, and it's imperative we keep a level head here.
What casino?
The way I see it is that any project/token has two values, almost as if we would be talking about the coin of a failing South American country against the dollar.
The Casino, as I like to think of it, is the period of the cycle when valuations have little or nothing to do with what's actually happening on the project itself.
Yes, there are capable/intelligent folks on here building some amazing tools, but the valuation we are seeing in the markets, I venture to say, has nothing to do with any of them.
And for the looks of it, it's the Koreans again.
Remember SBD?
I'm old enough (blockchain wise) to remember when the SBD peg broke. Back in the Steem days, we did not have the two way conversion system, and thus stability was close to impossible.
Not that being too accurate is important for the story to make sense, but I think I remember SBD being above 14 USD. Against all logic, mind you, the casino's attendees saw it fitting to gamble on a coin meant to be hard set at 1 USD.
Some people, including myself, decided to not look at the mouth of this gift horse and cashed out as much as possible for the time it lasted.
*** Ahh... the good ol' days
And now?
Well, the HBD peg is better designed and what have you, but it's also not impervious to irrational casino players pumping it. Which seems to be the case at the moment.
These movements in the price of HBD and Hive are probably going to be a catalyst for "greener pastures" around here, and I hope that at least the old cats don't miss out on a good harvest.
I sure could use some financial relief these days...
No gambling for me
There was a time when I would attempt swings trades and such, trying to DiCaprio my holdings, but those days are long gone by now.
I would encourage anyone who is more of a normie (like me, I guess) to resist the temptation of swinging for the bleachers and set a simple target for themselves.
All that said
I will look forward to see what sort of characters show up here. What sort of musicians join Hive Music this time around.
The fair weather sailors are never too far away from these pumps, and unlike other times, I'm looking forward to seeing some new blood in here.
Remember:
With a level head, make a plan and stick to it...
Cheers my friends
MenO
"*** Ahh... the good ol' days"... Those were some crazy times seeing SBD pump and dumps. Seems so long ago that it was almost a dream.
it was a lifetime ago at this point... its mind blowing to me that I'm here 8 years already
I'm just not a gambler. I've missed plenty of opportunities to make money here as I just power it all up.
I will focus on music on Hive this year. There are opportunities for the early adopters who can bring in their fans.
it would be awesome to have indie bands make this place home
Like you, I'm old enough to remember when the SBD peg broke. I'm not sure to be wise about it, but I'll do my best. :P
that is all we can do... ;)
I managed to sell for more than 10$ sbd back in them cray cray sbd days.
I hadn’t heard about the hbd pump today. See it got up to 1.20$. Ha, not the same dizzying heights…
Seems it has corrected itself pretty well.
I wish there was a tool or post that explained the how’s and why’s of the hbd pump and how it is counteracted. Is there?
hdb pumped simply because in a market it got overbought... it's being counteracted however by some of the bots that run in our internal market. Smooth runs one, but there are others too.
Simply, they sell hdb for hive until hdb goes back to a dollar, effectively pushing the price of hive up. They make "money" with the arbitrage, the difference in pricing between the internal market and exchanges.
Good advice I didn't take when SBD pumped, and I'm not taking now. I'm just HODLing, because I'm not interested in Hive as money, but as the interest and approval of my posts and participation in society with folks here. That's why I'm here, and that's what it means to me. I appreciate your sound counsel though.
Thanks!
i wish i could hodl like a madman, but im running really low on funds, and I need to finish parts of our new house. We don't even have windows yet... gotta sleep with mosquito tents (its like camping).