I did not power down at $3
I saw other more experienced Hivers discuss on
Leofince about how they plan to power down and buy Hive low.
In my mind, we were heading to the moon this year. Hive had already outdone my expectations. My friend bought Hive at $2 and it got to $3 So I was of the impression that we were just seeing the beginning of this beautiful price action.
Skip to today my balance is not encouraging and I have little money in hand. and I had been looking for ways to power up.
If this is where we are after the fall of crypto...which was out one time high...I feel like we are in a good place...but did I make the best decision with my HP?
Let's say I started powering down at $3 I would meet Hive at $2.5 which is not so bad. But by the next week, everyone would be crying out again with the BTC crash...
There would still be a little gain from everything.
My Plan
I have always been scared of powering down because of how much I could spend in the event of my money getting mixed up or my stomach getting in the way of my plans.
I planned not to power down all year long at least at this time when I do not need the money so much.
I have finished 200HP twice prior to this time.
Nothing makes me more unhappy than to think about those times because the money was so little and I finished it all for what? To feed at times when I could have been patient or managed the little I had.
So I really should be patient and I could depend on some other cryptos for survival than to dig my HP store. So if there is another spike I might power down.
Hope you learn a few things from this post.
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Since HIVE has a seven day power down period, the HIVE market will always have a dip seven days after a price spike.
Powering down during a spike is a guaranteed let down.
If your desire is to sell during a price spike, your best hope is to power down and hold free HIVE and wait for the spike.
The last time I tried selling during a spike, I managed to guess exactly 1 penny above the high. My sale did not go through.
I am actually now of the mind that I will accumulate the funds I want to withdraw in HBD and ignore the HIVE price when I go to sell.
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I do agree with you here.
But the later part wasn't clear.
I think I ll just hold liquid hive and leave some HP tho.
While I wait for the pump or set a limit trade. (I m guessing this should work at the market).. To HBD.
It all depends on how you want to participate in HIVE. If your primary goal is to play the market, then you need to have liquid HIVE. If your goal is to participate in the forum, then you need to keep your HIVE in HP form.
I think it is best to set one's participation goal separately from one's speculative goal.
The participation component is a fixed interest game. The amount one receives in curation rewards is fairly consistent in HIVE. I have 5000K HP and I receive about 1.25 HP interest per day. That is about 465 HP per year ... which is an okay interest rate.
I decided I wanted my account to become a dolphin. I am 95% of the way there. The cutoff is something like 5300 HP at the moment. Once the account is a dolphin, i will start playing the market and selling off the excess HIVE.
The money I have for speculation seems to get sucked into HIVE engine.
I think a person should separate their participation and investment.
Posted Using LeoFinance Beta
There it is..
The best way I have seen it put.
Than you so much @yintercept
I ll start seeing it this way and keep them separate
Whenever the Hive price goes up, people take profit(not everyone but must people that need money for things). All tokens on Hive-engine will be red, which mean people are selling off the tokens in Hive-engine to make some profits.
Powering down when the price is up doesn't really work, having some liquid waiting for the price to rise is the best.
Anyway, good luck with your hive in the next spike. :)
Posted Using LeoFinance Beta
I'll take note...maybe I wont need to power down after all...I'll just look to the alt coins
Okay then.
Eweeeeee... I power down sometimes to trade or for some personal reasons anyway. The thing is I wouldn't If I don't need to. But a big shootout to those who dont!!! !PIZZA
Thanks😥
Its sort of painful sha. I can't trust myself to not finish the liquid hive
Hahahaha Ikr. Yoi can just keep it savings till there is a spike in price. 3 days is faster than 7days. Sell then buy after back after a dump, then power up😀
You meant 13wks?
Thanks for this masterpiece.
I got value, I gats equip myself with enough patience
I think we should not power down based on the price, but if you have some liquid Hive then actually it's good to sell at high and buy again now.
I agree...but I like my money locked up away from me...
I've finished 200 Hive twice and I'm not happy about that.
You were not alone bro..
I was just moping.. 😂
But like you I was glad sha.