Been a long long time since I had seller's remorse. Feels nice.
Now it would cost $5000 to make me an orca again (OUCH!)
I remember when Steem was peaking at $8 like it was yesterday. I knew that wasn't sustainable, so I waited before buying in. I bought a tiny bit at $2.60 and a good chunk at $1.60.
When the price finally got down to 80 cents I was like "ok this is it!" That was the lowest Steem was ever going to go. We had great support there, and we had just crashed 90%, it all made sense.
However, that's not what happened is it? Ned's incompetence and lack of financial runway led to a situation where 1M coins were getting dumped on the market every month no matter what the situation. Programmatic selling. Brilliant. Now that we are Hive this selling pressure has completely vanished. We're no longer being lorded over by a central authority.
The amount of publicity we've received from weathering this storm is astronomical. Many investors balked at Steem because of the ninjamine. Many big players in the space thought DPOS was fundamentally flawed because a rich guy could just come in and buy out the network. How did that turn out?
We are stronger than ever, the entire cryptosphere has heard the news, and now we are spiking out of control. Being in the top 30 market cap is going to attract a lot of attention, especially when CMC finally gets with the program and lists us properly.
With Hive being the only coin pumping like crazy, this honestly could domino effect into even more gains. Everyone has been waiting for an alt season. If people start thinking Hive leads the charge they'll jump on board. Our liquidity is definitely thin enough to handle it.
We have been cultivating a community of strong-handed holders for over a year. Due to the technicals of our blockchain, higher price spirals into higher price. This is because people see the value of their upvotes going up and they want to keep the snowball rolling. The more upvotes are worth the more people want to power up to have a stronger upvote. Just because it hasn't happened in a while doesn't mean it never will. The FOMO is real.
No one wants to sell when the price is going up, and no one wants to buy when the price is going down. Ironic, I know, but that's just the way our economy works. It remains highly volatile at all times.
You know what else is great? HBD is still trading at $1. Hopefully it will stay that way, as big pumps in HBD actually hurt our economy as we saw from the last time during the spike to $13.
On top of having a stable coin that is actually at the peg, we are going to start printing HBD again. This is another reason for the value of Hive to go up. When HBD is being printed, way less Hive is being printed to pay out authors. 50% less even... it's a huge amount that further limits our liquidity and supply. I lot of HBD has been burned over the last year. I remember when we had 13M SBD in supply... Hive is down to 6,183,812 HBD. If the demand for HBD goes up the inflation of Hive will go down for a very long time.
Which is why I feel so silly now for selling into the tiny pump that preceded a huge pump. oops!
Live and learn.
Uhhhhhhh, if it's worth it to you. Personally I bought so many coins at the 10-20 cent level that I already feel like I'm locked out of the market hoping it will come back down again. My experience with exchange listings is that they are false hype, but maybe this situation is different.
When we look at the actual situation we're in rather than just pinning it all on an exchange listing 50 cent Hive could still be a really good deal. Like I said, I've been valuing Hive/Steem at 80 cents minimum for the last 2.5 years. It's not about what the price is going to be a week from now but rather a year or more from now. I'm always bullish.
Nice bro! )
I think when the corona situation is sorted out and infinite QE really kicks in, it is already 2021 and BTC has started to really feel the supply crunch brought about by the halving next month, BTC will rocked to the lower Earth orbit. After a bit of profit taking, some of those profits will end up in altcoins that are deemed cheap. Hive to the Moon. I'm only expecting the real explosion to take place sometime in the second half of 2021 or possibly the first half of 2022. The corona situation will be history at that point.
Aggressive QE will be needed for a long time to keep the largest banks from collapsing. Good times for Hive. Development will take place. OpenOrchard will get SMTs out and OpenSeed will be reality. The number of apps will spiral out of control. Larger crowds will be attracted by easier onboarding.
Back in 2017 many people I know were strangely hostile to the idea of Steem and crypto in general. Already last year, they were less hostile. I've been telling people on Facebook about the Brave browser and how you can stick it to the non-tax paying (unlike them, you and I) Google and its predatory business model and bypass the middleman. They're no longer laughing with their jobs on line and businesses in acute danger of going under. Baby steps. At times it has felt like teaching pigs to how to play chess. But by now I think I'm making some progress. The benefits of Hive are completely obvious to me. But despite the lack of hostility, I think I'm going to have to wait before I can move forward.
You also forgot that HIVE is much more rare than STEEM because of the circulating supply.
It is cool the HBD is pegged at $1 like you mentioned.