Title image made using GIMP and a pic by Colin Behrens from Pixabay
Powering up hive at the moment tests your metal in the arena of fomo driven paranoia ๐ With bitcoin on such a tear, and the BTC/Hive chart looking far from enticing...
anyone could be forgiven for thinking that it makes more financial sense to DCA out to bitcoin and ride that wave up. Every penny counts right?
To be honest, all BS aside, all hype and fanboy nonsense out of the window, it is probably true that the above dollar cost average option may turn out to make more money in the long run. It entirely depends on if/when hive takes off, and if/when we see a real alt season.
Let me explain.
It is very likely that this bull run will be different from the last one. Alt season this time around will most probably see only a handful of projects from the last bull market cycle taking off - just look at what happened in the dot.com bubble. This round of BTC price action is more influenced by institutional buying, and they see bitcoin as an alternative against depreciating fiat currency and an alternative to gold. I personally don't think they're interested in any alt coins apart from maybe Ethereum and a few others may catch their interest as this market cycle matures.
So if hive is such a risky prospect why am I powering up?
Image by It is simple, I like a gamble. And from a more rational approach, we who are buying and earning without selling are the ones keeping hive afloat at this time. The hive hodlers are literally keeping the dollar price at a stable level buying this blockchain the time it needs to maybe be noticed by speculative interest when the retail parabola really hits.
I'm invested in this platform for over three years now. Invested in time, energy and a huge amount of my my creative drive. I have published well over a million words here and have launched and ran a successful creative writing community. Just like many others I've stayed through the good times and bad. I've spent many hours of my life criticizing stinc about the way they conducted business and the centralized nature of their operations. I've argued about how bidbots were destroying the platform when no one wanted to listen.
Now we have a true community fork of steem. A public blockchain that has less influence from the early players who mined, or were upvoted $1000, crazy amounts of steem boosting their influence to a point that didn't really reflect what they'd put in financially or content-wise.
A good amount of the problems around culture/centralization that plagued steem have been addressed with hive and the patterns are written in the sand for anyone who was around for more than a year that should serve as a lesson for us to never allow large stake to rape the rewards pool with vote selling again. And much of the emerging orcas and half-orcas were smaller accounts during those times and understand how that behavior destroyed steem's value proposition.
Hive is a product of everyone's work, content and the input of the community that stayed strong during the Justin Sun Tronit fiasco.
If anything is worth gambling on it is the thing that you have helped to build!
A few days ago I bought just over 800 hive and powered it up with some spare hive I had lying around for a total of 1,049 HP.
This brought me up to 13000 HP total, and one step closer to that orca status ๐
Thanks for reading.
All images used in this post are either screenshots or creative commons license, credited beneath the image.
Nothing in the this post constitutes financial advice. These are my opinions and all investments should be researched and entered into at your own risk.
I recently delegated to @leo.voter for a daily return in Leo tokens. Check out their home page to learn more and to receive an upvote on your first leofinance.io post if you do delegate. Although this is not my first post I have tagged them in the hopes I might get a vote ๐ as I haven't received one in the past on my posts.
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