Hello and welcome to this SPinvest post
SPinvest is a tokenized investment fund/club for all users of social blockchains. Everyone is welcome! The concept of SPinvest is to get rich slowly by using time tested methods of earning, saving and compounding long term. This lets SPinvest offer an ROI of 20% per year on SPI tokens. We encourage long term investing on and off the blockchain. We hope someday everyone will HODL some SPI tokens that can be bought directly fromare through the steem-engine are dex.steemleo exchanges.
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Don't fall for the hard fork Hype's
Hello everyone, we are all aware that the HIVE blockchain is a hard fork token from the STEEM blockchain that split recently. We as STEEM owners all received a HIVE airdrop and since the hard fork, most of the STEEM community and app's have either moved over to HIVE are use both blockchains. The HIVE blockchain was created/forked with the main goal of freeing ourselves from Justin Sun and had much support from the community with many users powering down complete STEEM POWER holdings to convert into HIVE tokens and still in the process. The HIVE hard fork had a meaning and strong support from the get-go. Please remember the community and decentralized model is were the HIVE's value comes from. Hive might be a little overpriced right now but its price is still finding ground and i remain bullish that HIVE will remain priced higher than STEEM. Any other hard-fork coming from STEEM will not have the some support, no were close to the support that HIVE has received.
HIVE is a 1 of a kind at the minute being that it's the only fork to be worth more than the token it was forked from. Any further forks will be comparable to Bitcoin ABC are Super Bitcoin. Never heard of either of them? That's because most hard forks come from small groups of unqualified users thinking they can do better, they find out they are in too deep and the blockchain dies as devs drop off and cant be replaced.
Do you know about the next STEEM airdrop?
Are you aware that there are more STEEM hard fork's coming? There is at least 1 more confirmed hard fork to happen on the 5-6th July and word on the street is more will follow around the same time. This 1 already confirmed STEEM hard fork will split to create the "blurt" blockchain and STEEM holders will receive 1 BLURT for every 1 STEEM they hold. I am sure you will be hearing about this more over the next few weeks as the hype builds and STEEM holders rub their hands and lick their lips waiting for another free token.
Note:
What you do with your personal holding is your business but SPinvest as an investment club has to think long term and make decisions based on what is best for it's token holders, club members and total fund value. SPinvest is not interested in "magic beans" are whatever is being hyped this month. My actions for SPinvest are not always popular with token holders, they are profit-based only.
Another Airdrop
Many of us will be thinking great, we get another airdrop. FREE MONEY!! but it might come at a cost for SPinvest token holders and i would like to explain why before everyone gets their hopes up.
Currently, SPinvest holds around 8700 liquid STEEM and 52,000 STEEM POWER. Weekly power-downs come in at around 6500 STEEM per week which means we will receive 4 power-downs between now and the airdrop which is 26,000 STEEM. If we stopped converting power downs into Tether, we would have a liquid STEEM balance of around 34,700 and STEEM power balance of 26,000 to receive around 60,000 blurt tokens. Lots of people will be thinking, ok just hold the STEEM power-downs to receive the airdrop token and then convert the STEEM to Tether after the airdrop. Easy, right? Wrong because we have no idea what the price of STEEM will be in 4 weeks time what price this new blurt token will be worth.
Remember what i said about magic beans? Today STEEM is 18 cents, this is a fact. The Bitcoin halving is taking place in around 1 week and many are saying there will be huge sell off's after this event which will bring Bitcoin back to below $7000. If history repeats itself, this will happen. The whole market moves with Bitcoin so this has to be factored in when thinking about our STEEM balance.
There are many ways this can play out for us. Here are the most obvious 3 with the middle being the most likely to happen over the next 4 weeks.
- STEEM could bounce to 30 cents just before the airdrop as it did just before HIVE was hard forked and we could sell almost 35,000 STEEM for a great price, forget about the airdrop, owning more BTC will ease the pain (5%)
- STEEM could be worth 12-14 cents and we would lose literary $1000's when converting to Tether (85%)
- STEEM might stay at it's the current level and float between 16-18 cents (10%)
Logically we can see that it makes the most sense to continue converting STEEM power-downs into Tether as planned. My guesses are only guesses of what i think is most likely to happen over the next 4 weeks. Others will disagree, but others are not managing other's people's funds so taking a gamble is not in the game playbook. Now we have to look at this airdrop of blurt tokens for this new social network blockchain and see if it's the risk to reward ratio is worth holding out for.
Blurt
Ok, the name Blurt is strange. In my home country, blurt is a slang word for unwanted gossips that speak before thinkings. Not sure if it meqans the same everywhere. It looks to be spearheaded by a guy that goes by the handle of birdinc (not tagged cause im not getting into a debate, this is my 2 pence), i have never heard of him but he worked for Steemit on its business development for 18 months (not a great start) and he has a few others helping him on this project. None of the names ring any bells.
From what i can see, there's not much love for it. There does not seem to be any solid details and no list of witnesses that are going to be running the blockchain. They claim to have a solid code already wrote and have connections to exchanges for listings. From what i gather by filtering through all the fighting and bullshit in its discord server is they plan to focus more on moving away from STEEM/HIVE and will heavily promote on twitter and other platforms with the goal of mass adoption. They want to be the Reddit of crypto blogging, which is a ringing bell in my ear. Why chase reddit when facebook is the king of social networking? I never understood this. The general public want small pieces of content like tweets, 3-4 lines of information with a picture/meme are video attached. Most people are not into reading 2000 word blog posts. So the idea i think is wrong and another blogging platform is not what's required for mass adoption.
Every hard fork comes from one person/are group thinking they can do better then what is available. This always includes drama and there's plenty of it with this hard fork. I will not go into the details as im not 100% sure what really happened but all i can say is it's not very motivating to have to read through tons of politics we don't care about the find out rare bits of information about everything hard fork related. It's looks to be all bitching about who did what to get HIVE listed on Bittrex are something like that. When i first went to the HIVE discord server, it was buzzing, the chat was moving so fast you could not even read a full comment before i disappeared off the screen. All positive comments talking about what was happening. This blurt discord server does not have that vibe, it feels very small and niche with no word on if it's centralized are any clue on what it's frontend will look like if they have one.
During my time in the blurt discord server, i seen comments from the blurt team declaring things like blurt can compete with Bitcoin as store of value and could have the same are bigger marketcap. I do not know the guys behind blurt but at first glance, i see big claims with nothing to back it up. There is probably a lot i do not know so i can only judge on what i see. Making these sort of claims is just silly and in a way shows, there is no plan. Saying that a social token can compete with Bitcoin is retarded, its a ridicules claim. They have completely different use cases and a social token can never be a store of value in the same way a stable coin will never grow are fall in value (unless its listed on steem/hive-engine). Saying that blurt can compete with Bitcoin market cap is also a crazy claim. Bitcoin is the gold standard of crypto's so this is like saying Reddit ($3billion) could have the same marketcap are better than gold ($9trillion). Im sorry but at first glance, these guys look to be so full of shit, I'd bet my last dollar they all have brown eyes.
The difference between this hard fork and the HIVE fork is the community was behind HIVE, dapp operators ready to move the ship and it had a real propose for community end users. I understand this blurt is not aiming for STEEM/HIVE users and is going out on its own but a few enthusiastic users that buy the dream and keep their airdrop is not a great start. I predict it will become the third blockchain to copy/paste the same content too and most of its content will be a mix of STEEM and HIVE posts. I mean, if you are hearing about this for the first time in this post, how good can they be at promoting?
Oh, lastly this is the thumbnail pic they use for the dicord server. Noramlly a token will use it's logo here so im assuming this is the logo. Looks really mass adaptable. using an emoji is not lazy and 100% looks very official.
Please do your own research, you might find something and be able to share it in the comments below.
I could be completely wrong with everything i have said above, this could turn out to be the miracle we have been waiting for and im too stupid to see it. My gut says based on what i have seen its a few pissed off guys thinking they can do better than STEEM/HIVE, that's all it is. It looks to be more wing it than planned, the claims are laughable and i don't understand why the airdrop is for STEEM holders and not HIVE holders were the real community resides. Are they letting personal disagreements with HIVE higher-ups factor into their airdrop choice?
Like is said, i could be wrong. Maybe it will be worth more than Bitcoin someday and we'll all live on the moon in bubble mansions with recycled air from our own farts. If that day comes, I'll gladly eat my own farts. In fact, im gonna throw this out there. It's a risky bet but if either STEEM/HIVE/BLURT are a combination of all 3 over take Bitcoins market cap, I'll eat my own farts. I'll fart into jars for weeks, dozens of jars and save them up and then I'll record myself sucking farts through a straw until all the jars are emptied of fart air. You can PIN that statement to the wall.
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Again, just my 2 cents. As a fund manager of sorts, it's not SPinvest's cup of time.
What does this mean for SPinvest?
I would suggest continuing on with our plan of converting STEEM power-downs into Tether. We have no idea what this token will be worth but everyone im speaking to is gonna dump it asap. The group running blurt say they expect a big dump and have a plan but again, no details. SPinvest will still receive around 24,000 of these blurts from its remaining powered up the balance.
If 5 are more club members call for a club vote in the comments, we'll do a club vote to decide on whether to stop converting power-downs into tether and hold out for a bigger airdrop are not.
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