I dont usually write about money. I would say it is even more rare that I write much about crypto. I have before, once or twice, but not often. However after such a run in Hive, I feel compelled to make a point or two.
Pump
First. That was sweet! What a fast "ramp" as we say in stocks or "pump" as they say in crypto. Is it just me or does "pump" have some inherently negative connotations associated with the word?? A ramp is just merely an advancement in price over a short time. A "pump" seems to insinuate nefarious activity, at least to my mind.
Dump
Secondly, from my limited experience with Steem, then later with Hive, is that most all pumps seem to end with dumps. Many times equities will ramp up and stay at the new elevated level. Yet with crypto, that doesnt seem to be the case. It goes up fast, it goes down fast. Always. Every single time! Pump following dump is like 2 following 1. Not talking about Bitcoin, just mainly Steem and Hive. Which brings me to my final point...
Chump
Lets be honest for a moment shall we? No one likes feeling like a chump. You know feeling like a stooge, an idiot, a chump is just not fun. So since the Hive chain started we have had what three of these pump and dump deals? I really have not been able to sell anything at the highs because I generally have all my Hive powered up. However in light of these quick pump and dumps, I feel quite like the chump having no liquid Hive available to take advantage of the higher prices. I think the simple answer is to start a revolving power down. Just because one powers down does not mean they are going to sell. One can power it right back up if one decides to. During the last pump and dump, people were able to sell high and not much later buy double the amount they sold back at the lower prices. To me, this is a no brainer. So I think I will start a power down but wanted to explain I am not rage quitting, just trying to play the game in a more prudent manner.
I was stoked to see Hive holding around a buck. Anyways this old world keeps a spinning and I guess that means we are all getting a bit older. Like old Gramps used to say, "Son you best start putting first things first". I know, Gramps, I know. Ill see ya soon.
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