How Diversity Are People Reacting To The Sudden Hive Moon?
So hive has basically hit the $1 mark and inasmuch as it brings a lot of excitement, a lot of people are actually undecided as to what this eventually means for them. For example, some would eventually power down their account in other to sell, others might just take profit. Some will be wondering if they should sell at these prices or wait for the top, or sell now to risk them losing the gains they should.
The prospect of money makes people jittery, and sometimes losing out can be painful. But as a Nigerian, taking gains for example brings a case of dilemma this is because taking profit to save in naira isn't really ideal, the naira is plummeting and losing value and taking out crypto to save in (naira) Nigeria might not be really wise, saving in crypto is not just stable, for an economy as Nigeria, it helps your money retain value overtime.
The only reason I'll sell is to probably put money into another prospect, truth is that I want to take profit, but I haven't gotten any idea to channel these profit yet and keeping the money in naira, it looses value as a result of inflation. But then, I still want to take profit in case of a time when I'll eventually need to channel it accordingly.
I've been considering USDT or selling to keep in any other stable coin. HBD makes senses, and I'm actually saving in HBD as a stable coin as well. I've been looking for ways to diversify and maybe investing in splinterlands monsters, but holding profits in naira is a really terrible idea and I wouldn't really advise any Nigeria to do so.
That said, I have a lot of ideas for business, leaving the country is another option, but that's more like a 5 to 6 years plan for me and so but before that time, I need to make time for business opportunities that can be sustainable. Truth is, I know $1 is a big deal, but it doesn't feel as exciting as it should to me, this isn't because I'm a sadist, it is just that I'm trying to hold as much as I can then eventually sell when it's just too lucrative to say no.
Will it eventually get to a point as this? I can certainly tell you that I don't know. Nevertheless, the fact that I can keep my stake, use it for curation, buy into promising hive tokens and reinvest into other aspects like LEO and CUB is definitely better than selling to save in the Nigerian naira, I don't know it you have ever thought about this?
via bitmoji
This feels like a dilemma, what I'm actually doing is taking little gains for sustainability in order to actually keep the growth of my stake, and this is actually better than selling to save in a depleting currency. Nevertheless, don't get me wrong, taking profits can come in forms, you can power down to sell, then buy back when it's dipping or dipped. But then this isn't something I see viable for someone like me, it wouldn't really work.
At the moment a $1 hive wouldn't bring my real-time plans, I've decided to wait for the peak. If you've noticed, with the way we're nicely placed, the hive blockchain is really undervalued, and I want to believe a time will come when it'll be rightly valued. I chose to remain staked because I want to keep enjoying the real dividends that comes with it, so many people understand the freedom that comes with owning a stake and I want to continue in this aspect.
via bitmoji
Some have asked how I manage not to power down even when I have needs, I just tell them that it depends on my goals and my scope and strategies. Currently, I'm striving hard towards diversification.
I want to put some of my skills in the market out there so that I can become less and less dependent on hive but continuously growing it as well for futuristic purpose. Being wealthy in Nigerian currency is almost like nothing, the banks are getting wealthy off people's ignorance, but I get that people want to feel secured by checking their account and seeing those millions.
Someone in a place like Botswana or the United States can actually do this, but then in Nigeria would actually be a waste of time, effort and eventually resources. The bull is actually here, this I know, but I want to be objective, patient and think rather than the hit SELL! SELL!! & SELL!!!
Interested in some more of my works?
Why Do Nigerians Choose To Dye Their Hair? (Feature Article)
How Life's Issues Prevents Us From Obligatory Priorities
A Sense Of Self Accountability: Why Minimalism Exceeds Beyond Spending Money.
A Taste Of You.... (POB WOTW) {An Original Poetry)
Causality & Common Sense: Some Answers To Most Plausible Questions?
My name is @Josediccus, a young Nigerian entrepreneur who is a Vlogger, A Psychologist, Poet, Sports Writer/Analyst & Personal Finance Coach. I'm using my contents as a process to create shared meaning as well as create expressions through which people on/off hive can relate. I believe content is a process to be enjoyed and relished and I'm up for any collaborations in my field stated above. Cheers
@Josediccus, your brother-in-pen & heart
I'm hoping to reach more people who are broken at heart and spirit, so share on any platform or reblog
My Twitter handle
Posted Using LeoFinance Beta
https://twitter.com/PERCIVAL_JOEY/status/1434140153635872778
The rewards earned on this comment will go directly to the person sharing the post on Twitter as long as they are registered with @poshtoken. Sign up at https://hiveposh.com.
I must say I had mixed feelings when I saw the $1 price point. I don't have too much liquid HIVE to sell it out, nor do I think a power down will help as the price might change its trend. But one thing to consider for the future is to consolidate your HIVE account and power up, but always keep a percentage aside for diversifying your portfolio. So rather than putting it all in you can power up 70% from your profits and keep 30% liquid or invested in short-term gigs. At least that's the plan for me going forward, now I think the opportunity might be slightly missed...
Posted Using LeoFinance Beta
You're exactly right. The fact that the prices can change with time makes it quite tricky to actually power down and this is why I think it's a really challenging decision for so many especially when they don't have liquid hive. I believe you have the right capacity for the right choice. Cheers to you.
Posted Using LeoFinance Beta
Thanks for the support.
Posted Using LeoFinance Beta
Hex or Pulsechain is your best bet to multiplying it faster. Not financial advice 😉
Hex I know, I'm still caught up with a whole lot at the moment, I'm sure I'll make that investment, or try it out. Pulsechain???
When do you think we will reach the peak? I find that hard to guess since the markets are so unpredictable.
I do agree HIVE has a lot of potential and I don't really plan on selling out as of right now.
Posted Using LeoFinance Beta
I actually do not know, but then there's a lot of time, hive will only be two years by April or so, I believe there's time.
Posted Using LeoFinance Beta
I really hope people think it through and make the right decisions before selling.
Of course
Posted Using LeoFinance Beta
You know I praise your decipline. I've found myself thinking wow. Hive was around .25 cents back in June or so. I could've taken my other crypto and put it in, but I was distracted. I have no doubt hive will reach a dollar. No matter how many times it touches and regresses. The value of the world currencies are falling, it's pretty set in stone that as their value will fall. Inevitably it will cost more currency to buy the same account of crypto.
It's worse in some other countries, but inevitability it will. I feel that the real value these days is in crypto majorly. Discovering it has been a gem.
Posted Using LeoFinance Beta
Though honestly I've been considering the balance between saving my cryptos for later wealth storage, and utilizing them to make the most out of today's opportunities. Can't say I've figured it out yet. I've intentionally taken a break from being employed full time. I needed to revaluate my priorities, yet I've kept up a constant effort to earn enough to not use up my tomorrow fund.
There's also the fact that there's a battle of control verses freedom in the crypto world. So despite their promise of possibility, there's always the reality that tyranny won't give up it's power with a fight.
Taking a break from being employed fulltime obviously saved my life in 2018, the job was tasking and I spent more on health. Truth is, every individual has what will eventually work for them, I believe you can find a way around it, makes it better and worthwhile, nevertheless I've never regretted any decisions I've made pertaining to crypto.
Posted Using LeoFinance Beta
Nice. :)