It's no secret that crypto has been on a wild ride as of late. Hive is no stranger to this volatility. My stack has gone from $164k down to $90k in a matter of 10 days, and has just now popped up back into the 6-figures range.
I must admit, the unit-bias of it all is getting inside my head quite a bit. When I see 5 figures it's a sad day but when I see 6 figures it's a good day. Brains are weird.
In any case, I just realized that every penny in Hive price changes my stack by over $2000 (if you count my big delegation). 220k Hive at 1 cent per token is $2200. Pretty wild when you think about it. Every time Hive moves up or down a penny I gain or lose over $2000 of unrealized value.
Considering I've been making $12k a year at my "real" part-time job this is overwhelmingly daunting at times. How can I justify gambling this hard with so little cash in my bank account?
YOLO!
At the end of the day I just tell myself to just keep my head down and keep doing what I've been doing. Reject the legacy economy. Study the tech and speculate on the future of decentralization. Avoid totalitarian control if possible. Yeah, it's a risky business, but it's worth it.
Consistency is key.
It's not about timing the market, it's about time in the market. What we are building here has been and will continue to be exponential in nature. Doesn't matter if it takes six months or ten years, the time will come where I can break free from the chains of scarcity and claim my place within this newfound society.
2k+ Hive accounts.
I've also hit another milestone in that I have over 2000 Hive account tokens banked. Again, I believe a Hive account is worth much much more than the current market gives credit. It is only a matter of time before people are paying $100 just to create a new account here. Just because the competition is zero at the moment doesn't imply that this will be the case forever. A big spike is coming down the pike sooner or later. Just a matter of time at this point.
Cubbers?
CUB is also scraping all time lows at the moment in terms of price action per token. Of course with these hyperinflationary infinite-liquidity tokens the marketcap is a much better metric than token price. CUB still has a market cap of $2.8M, which is significantly higher than the $2M rock-bottom we've seen from time to time.
In addition, Kingdom dominance still hovers around 60%, which is pretty insane when you think about it. For quite some time now, 60% of all CUB tokens in existence are going extremely long, taking a 50% penalty in yield to avoid impermanent losses incurred by LP tokens and price differential volatility. That's a pretty big deal when you actually think about it. CUB/LEO holders are pretty hardcore, and they'll get rewarded for their diehard behavior soon™.
Also it's the last day of September, historically the worst month for Bitcoin of all time. Combine this with the China/Binance/Regulatory FUD and the chance of a slingshot forward skyrockets in October. I certainly hope so because my target is to be getting rejected at all time highs during next month. We shall see.
Worst case scenario Bitcoin returns to the doubling curve at the end of the year. That would be a crash to $25k, fully deflating any kind of bubble. This would be a devastating blow, but also the perfect opportunity to go long once again. In all likelihood, this can't happen without some kind of legacy meltdown in the traditional markets. $40k, $38k, and $35k are still massive support levels for Bitcoin at the moment, and we are heading into the most bullish quarter of the year during the most bullish part of the 4-year cycle. Fingers crossed.
Conclusion
Many of these issues are all a matter of perspective. The things we're fretting about today will be completely forgotten in the wake of an actual mega-bubble. Time ticks away, and as long as we stay the course and don't give up, rewards come trickling in over time one way or another.
I may be gambling with more money every day than I would normally make in a year, but in another real sense this gambit has to work anyway or the entire world will descend into chaos. It's not going to matter much if I lose 90% of my net worth if the entire banking sector collapses, as everyone will take that same loss no matter where their value is parked.
All I can do is keep my head down and grind grind grind.
See you on the other side.