Plan Cancelled: The DEC/ HIVE Trading Is Going Crazy

over 2 years ago

The market was going crazy these past few days and my plan had to take the back stage because of it.

What was my plan, you ask?

Well, I was supposed to buy and add more DEC to my Splinterlands account so that I could buy or rent cards to use in the Ranked Battles.

It was for that reason that I have been powering down as I plan to use HIVE to buy DEC.

Unfortunately, these past few days, the crypto-market wasn't doing so well and the price of HIVE had plummeted quite a bit.

As you could see, HIVE suffered quite a bit, dropping by -12,7% (as of time of writing) in 24 hours. This price drop greatly affected the purchasing power of HIVE which in turn made buying DEC more expensive.

Why? Because unlike HIVE, DEC is doing much better.

So according to the current market price, if HIVE is a loser while DEC is a winner. Which brings me to the real issue of the matter: Buying DEC with HIVE would make me lose a few hundred DEC.

If you look at the above photo you'll notice that I have more that 34 HIVE in my wallet (a small amount I know). If I use all of the HIVE currently on my wallet I would only get more than 3600+ DEC.

But if I bought DEC when HIVE was still at $.700+ I would get, at the very least, 4000 DEC which was a few hundred more than the 3600+ I would get if I buy now.

Yeah, I missed the opportunity to buy because I waited. But to my defense, I was waiting to power down so it couldn't really be helped.

So... What am I supposed to do?

Well, I could just wait and hope that the price of HIVE would recover quickly. Or... I could swallow the possible loss and buy anyway.

But from the title of the post, I think you already know my answer, yes?

Yeah, I'll wait for the price to recover before buying more DEC. At the same time, I'll wait to get more HIVE at hand since I'm still powering down.

Thanks for reading. Cheers!