Make the most of these Trading Opportunities!
Like many, I was shocked to see this big drop in the HIVE token price this morning.
One part of me was cheering as I knew in 16 hours I would have another 5700 STEEM in liquid form waiting to depart my wallet.
The other part was thinking that the opportunity to trade may have evaporated by then, so what to do about it?
I had 18.6 LTC sitting in my Ledger and have been feeding it for a while with liquid STEEM from my 50/50 STEEM rewards. It was time to make use of it.
After sending the LTC to Bittrex and having to wait an excruciating 40 minutes for the 6 confirmations to be verified I had my coins on the exchange.
The BTC/LTC pairing is very fluid and in less than 5 minutes my sell order of LTC was filled.
I looked at the BTC/HIVE trading view and could see the volume is still comparatively light but there was a lot of activity going on.
I had some Bittrex credits and used them gaining me a slightly better order.
Having canceled the first buy order at 1550 Satoshis, my revised offer was filled relatively quickly at 1599. Not bad I say!
Some may think I'm crazy by selling a more stable coin such as LiteCoin for the very unstable HIVE but I don't think so.
My target was always 100,000 HIVE and by tomorrow I will have attained my target with the release of the liquid STEEM later today.
Since powering up HIVE I have seen a marked increase in curation rewards amounting into the 40's per day.
I can see why the bigger accounts don’t need to post so often. Why bother when you can just gain passive HIVE by curation?
This does not mean I will stop writing, but starting from tomorrow I am back in the land of employment again which means far less time.
The post every day will likely decrease and any time I have will be for some manual curation; yes some of us still do that!
As I type this the HIVE price has increased to 1728 Satoshi's which is incredible considering whenever I do trade the price ALWAYS goes down.
Maybe my luck is changing. Sometimes you need to take these opportunities and grab them by the throat.
I will replace the 18.6 LTC and increase it to 20 LTC or more in the next few weeks.
I feel there's still time to get a good deal on HIVE, or maybe 11c is the new regular price? Nobody knows, and we all have to gamble a little.
If you found this article so invigorating that you are now a positively googly-eyed, drooling lunatic with dripping saliva or even if you liked it just a bit, then please upvote, comment, resteem, engage me or all of these things.
I bought some myself :0)
I wouldn't place to much stic6k in the curation values remaining as they are at the moment though. You will note that lots of posts have very high values and little voters, meaning quite huge curation returns. I presume once things have all settled down it will go back to a more normal thing like before... Could be wrong though :0)
I don't normally jump but a 40% drop was too tempting. I was hoping for a 1:1 with this liquid STEEM but now it's gonna be all the better.
RE: the curation, the stats say 40 per day, it might not be the same soon but I'll take it for the moment. I was gaining around 15-25 per day with STEEM but then my stake was around 70,000. I does seem to fit.
All the more bonus for posting and curating!
I had some orders in for ridiculously lower, I was half disappointed they didn't get filled. I knew it would bounce back up but like you was surprised by the drop
I used to put some crazy low orders always, got like 8k filled, regret didn't put some more orders the other day.
I wish I had the discipline to be patient, I usually want it now.. so don't get the best deals.
yea I usually also don't have patience, cancel those orders regularly just got lucky for once i guess. but remember they might still have millions on binance etc, so you never know where the bottom is
I missed the lowest price and can't do any trades right now anyway, even if I had funds ready to buy Hive. Never mind.
I wonder what caused the price to drop so much. I suspect some people will be dumping their Hive airdrop as they don't care about the platform. Would that be enough? Of course certain people with vested interests could shift it given the volume is pretty low.
I'm playing the long game anyway.
The volume is quite low and I feel it could be manipulated somewhat. It still around 1600 Satoshi's now, almost at what I bought for. Great for the long game if you have funds.
I just managed to get some Hive with my Steem on Ionomy. Had to go via BTC, but it takes just minutes to do. It's an option until blocktrades can do Steem again.
Is that ever gonna happen? JS has made it hard work for a lot of people to trade. You and I are accustomed to trading platforms but to some, they look like monsters from hell.
Well I'm not a regular trader. @Ionomy need a direct Steem > Hive pair to make it easy. I would expect Blocktrades are talking to their lawyers as they have serious money locked up by this action.
Get that Hive bro. Get that Hive.
LOL. It's fast to BitCoin people. It's snail slow to us here.
Yeah, quite right. STEEM and HIVE are lightning compared to others.
Yep I had some BTC on bittrex from the steem sales and did bought some as well :)
I did the same - I had a limit buy filled at 1530 and then bought thousands more at just over 1600, but I've put most of those back up for sale at a higher price. Thing is, you can't get yer damned hive back into Bittrex atm once you've taken it out!
I've also spent a rather painful hour battling to sell a couple of thousand on ionomy, reducing from 1900 - 1850, finally got rid of it.
Thankfully I had 10 LTC sitting in Bittrex - I've been trading it back and forward for BTC for a while - waiting for those confirmations is painful.
Assuming you took that screen shot pronto, you're about 2 hours behind me in yer PD cycle!
Think I might hold my next Steem PD in BTC for a while.
I need to get off these exchanges, silly way to spend a Monday morning, although i'm slightly hungover and knackered from painting all day yesterday, so it actually suits my rather incapable mood.
I also put in some crazy lower limit orders, just above the 'massive' ones, right down there in the depths.
LOL, I thought about doing some arbitraging yesterday but couldn't be arsed! It seems a lot of faffing around to make just a little. I'm glad I did nothing yesterday after this massive fall.
I'm quite content to curate and let the HIVE come in. I am concerned that new people are not arriving on HIVE, or if they are I don't see them.
It would be nice to give some newbies bigger votes and draw them into this wicked world of ours!
Yes it does sort of make arbitrage seem pointless, when one may as well have just waited!
TBH with the couple of thousand Hive I've been messing around with - what's the worst that can happen when I don't really mind if I end up with BTC or Hive - worst case scenario is that I end up with a couple of thousand Hive bought in at a slightly higher rate - when I'm looking to buy in 20 or 30 000, it's not a big deal in the grand scheme of things!
Be interesting to find out how much was dumped.
And by who, pablo will tell us tomorrow!
Huh? You just need to set up the memo required. Once been doing it for quite a while.
Oh shit, thanks so much.
I'd just assumed the exclamation mark next to the deposits meant 'deposits disabled' - NOW i've clicked on it I see it doesn't mean that!
Cheers!
I will have some liquid Steem tomorrow. I’ve only ever used blocktrades to exchange so I’ll have to get going on Bittrex.
Never used a big exchange? They are quite intimidating but not as bad as they look. Careful what you click!
Bitshares Dex yes.
Oh wow, I am still not able to track the Hive price in my preferred app, so I didn't notice that it had went down. I wonder why that is. Probably just a bunch of FUD from the 100 days of Steem thing that is going on right now. Good luck heading back in to work!
What app are you using? Its been added to mine 'BitScreener', no idea why I'm using that one.. :)
Coingecko. I can search it, but there is no data for it yet. Every time I try to add it to my favorite I get an error.
I am already sensing tomorrow as a big day for you. Shall we celebrate meeting your target in advance already. Just few hours to tomorrow
Maybe you heard my screams this morning as I just filled and order for hive at 2604 and then woke to find it'd dropped :/ I've made some astute trades over the last 2-weeks so my luck was due for a change. I'm also waiting on the clock for tonight's power down...tic-tok tic-tok...
Oh man.. nightmare! I thought that only happened to me. Tonight's midnight clock is when I get my next lot too.
Oh, buddy, I could write a book on my trading fails :D Fortunately most have been funded through content rewards and not my personal cash. Lately though, Ive been investing a little of my cash every month so I need to sharpen up! Just picked some up for 1501 and it seems there is a 98,000 Hive wall set at 1500(But I guess you know how these walls can vanish in an instant).
1501 seems good today, but good deals seem bad tomorrow, or otherwise! I see the huge wall.