Volatility And Burning Fingers
source
**Yam did a massive nose dive today and just glad I am not part of it as many are sitting around holding $174 Yams right now. The coin is described as an experiment in fair farming,governance and elasticity. Talk about elasticity as it will need it to bounce back. **
Price really means nothing right now as long as what you invest in has a real use case scenario. Crypto is a gamble whatever way we look at it as there are going to be winners and losers. On Hive the users that are busy each day are the real winners as they are risking nothing, but their time and are growing by having fun.
source
Yam dropped by 22 x in value over a matter of minutes. How many are eating Yam this week.
I think this is why I am very comfortable with Hive at 20 -25 cents for now as it is so early in it's infancy in my mind it can only go up from here. I have no idea what Yam was or is but many must have had their fingers burned with such volatility. $174 down to $1 in a blink of an eye is now you have something and now you don't and rather sickening.
Some would say that it was bound to happen as that is according to the Elliot waves or whatever but still it is still sickening to watch if you are invested. Many of theses investors would be happy if they actually knew what Hive was and what it really meant as I am sure millions of people have no clue. If people knew that by purchasing hive and staking it on the Hive block chain that they could earn through daily interest and rewards many would consider it. At 20 c or 25 c it is kind of risk free as the price has been stable for a few months now. Investing 5000 Hive tomorrow you could double that with hard work within 12 months and who knows what the price will be in a year..
Like many on here there is no rush for Hive to moon as staking and growing is the aim. I rarely look at the price these days as my goal is long term and I am not even close to where I want to be. I don't think you can ever have enough as you will always want more. The more you have the more you earn is so true on here and why staying busy and growing is so important. Eventually Hive has to go up in value with the number of users and only then will we possibly see the real value of the work we have all put in.
Cryptocurrency is still very young and why there is so much volatility which can make you wealthy or broke over a short period of time. I actually enjoy the volatility as it shows you what can happen and so quickly.The last time Bitcoin went to $20 000 many "investors" got seriously burned as they didn't realise it had to come back at some point. I know a few who bought in right at the peak and they thought they were on to a winner, but little did they know they were about to see their arses.
I am sure many have looked at the alt coins instead as the returns are there along with the risk. I have never known investments that can move 20 or 40 x in such a short period of time and believe it is exciting being part of something like Hive which has the legs to do just that and so much more. I do believe in time and patience and the ones that look long term will be rewarded.
This.
Barring a black swan event, 20-25 cents seems like a fairly strong support.
By the way, what would you do if certain quarters got their way and the HIVE reward pool were done away with and replaced with SMTs that were worthless because of a lack of liquidity?
Would not back it. Where is the benefit and who would benefit? I think whatever the new proposals are everyone has to seriously consider these questions.
Me neither.
Ostensibly lowering the inflation would help the token price. The main beneficiaries would be the early miners whose stake is being diluted by new stakeholders growing their accounts. I find that very uncertain. Liquid HIVE traders on exchanges decide the price. The price as been all over the place depending on the state of the overall crypto market.
Sure.
But let's assume the pool were slashed in advance of its current schedule. What would you do if you couldn't earn any HIVE by creating or curating content? If the only tokens available for content creators and curators were an SMT or HE tokens?
We saw what happened to community coins as they get milked and dumped.Hive still has to be the coin you earn from. The reward pool shrinks over time and shouldn't be stopped now. Whose brainfart was this?
Staking by account holders over a period of time is where value will come from. I believe that we must just keep staking as at some point the price will rise. I am talking in years down the line and wouldn't expect $$'s now. The value is in the community and unfortunately I have no faith in community coins unless they were the extra coins you earned besides Hive.
Imagine you gave everyone the choice now whether to go 50/50 with Hive and a SMT as your payout. I may take 90/10 but then that would also be a big push to get me there. I have no faith in community coins as the user base has shown they don't stake them and just sell them. I have over 36 Million sports tokens and am still staking but how many others are doing the same?
None of the tokens on Hive, including HIVE itself have much value beyond the speculative at this point. For any token to have any significant value above zero, it must be traded on external cryptocurrency exchanges at a high enough volume. Staking is not the key. It's getting speculators to trade the liquid coins against BTC. We can all stake any token until the cows come home but if no speculative player sees value in it, its price will stay remain zero. The alternative would be mass adoption to create organic demand for HIVE or any of the community tokens. But the masses adopting any of the SE communities is a very distant possibility.
What Wolfie has in mind is slashing the pool to make Hive his personal moon rocket and leaving all content creators high and dry. He'd love to continue selling votes to maximize his ROI but because of the EIP he feels he's being forced to curate. He mistakenly believes all the thousands of content creators have zero value. He has formed that idea because we have not expanded our user base any more than we have so far. He'd like to go fishing while collecting his staking rewards instead of having to deal with any of the content.
I believe that is largely due to the fact that most of the development has concerned the back end. This platform is still way too difficult for normies to use. That has got to change. And it has been in the last few months.
I do agree that this place is far too complicated and yet nothing has changed. The problem is the developers are not thinking simple enough. For them this place is simple as they are that way inclined.I know other users who would join if it was more simple. The security is the issue and understand why it is so complex compared to other things. I just don't see the reward pool going to other tokens as a good idea as it will only make it even more complicated. There has to be another way to get around this.
UX is a front end issue. But for the longest time we only had steemit.com.
I wouldn't stay for worthless tokens. SE tokens interest me very little. LEO is the only one that has a smidgen of value. The rest are as valuable as likes on Facebook.
The biggest problem with the pool going to other tokens is their lack of liquidity and thus speculative value.
It's funny how all the other use cases of Hive have been completely dependent on the blogger community powered by HIVE. Practically all the Spinterlands players are bloggers. Every single app or game depends on the blogger community being there. If there were no community - and there wouldn't be one if it weren't for the rewards, none of them would've got off the ground. It's the bloggers who did all the legwork in keeping up the pressure on the exchanges who attacked Steem last spring and also keep so much noise that most exchanges decided to list HIVE in short order.
Yikes! That is quite the drop. I have never even heard of that one. That is the danger of Hive for me. I just keep wanting to grow bigger and bigger. There will come a time when I really need to get my tokens, but I won't be able to because they are all locked into my HP. I see those liquid Hive sitting there and I think to myself "why not just power them up"...