Ha!

Found this meme I created (maybe the first one ever) back from March 18, 2018. Remember when Steem crashing to $2 was devastating? Lawls.

This community has gone through so much shit it's pretty unbelievable when you add it all up over the last 3 years.

Makes me feel better about what I was gonna write today.

Yeah so basically I awoke to Ethereum spiking another 10%. Major sellers remorse considering I dumped a significant amount of ETH into Hive recently. Could be worse though because I was considering exiting ETH entirely due to how unsustainable it all seems. You know when your smart-contract platform flips Bitcoin in terms of fees per byte you're in serious trouble.

Why exit ETH?

There are a lot of warning signs there. DeFi is bubbling. Yield-farming is a zero sum game. Reports of nodes not even being able to calculate the total supply of ETH. Huge premine. The list goes on...

When it really comes down to it I told myself to only invest in the coins that I actually use, and the only thing I use ETH for is gambling and giving myself loans to gamble more. That's not a valid use-case, I can gamble on any platform.

There's also the issue of where I'm putting my time. I have no interest in developing dapps on the Ethereum ecosystem, but I have an immense interest of doing exactly that on Hive. Why would I own Ethereum when all that value could be Hive or Bitcoin?

No regrets

When it really comes down to it I feel like I'm in a good place at the moment. The first of the month (today) is official power up day. I don't believe in making decisions like that based on community fads, but I can make a commitment today.

COMMIT;

I've been resisting the urge to power up for a week now. If Hive doesn't make a significant move up over the next week I'm going to be highly motivated to power up a good chunk. I've been missing the ability to do a $1 upvote, so maybe that's the target I'll shoot for.

You break even yet?

I saw this meme on Reddit the other day and I just can't get over it. Cracks me up. I'm not entirely sure, but it feels like I've pretty much broken even at this point. The Hive fork was a big part of that. Kudos to Justin Sun for all the 'free money'. RIP to the whales who had their funds stolen. Good luck with the lawsuit. Hopefully it will all be worth it.

Conclusion

Yeah, Hive has traded pretty flat lately except for that minor pump/dump up to 32 cents. Don't let that get ya down, fam. Personally I think it's pretty cool that we are largely uncorrelated to the market. Remember that even a single person deciding they want to become a Hive whale would make huge waves around here. We are still in the extremely early game.

I still maintain the investment strategy of putting your money where your time is.

Check out that post made two years ago.
It contains a screen shot of my stake: 1147 coins powered up.

Wow.

And I remember being pretty proud of it being that high. Now 1000 coins is a nothing amount to me. Ten years (maybe even one) down the line new users are going to complain how unfair it is that we got in so cheaply at this level. They'll refuse to acknowledge the blood, sweat, and tears that went into it; the risks we took; the extreme emotions at play. At least that's what I tell myself :D

Return from Market Watch September 1, 2020: Hive is a sad panda. to edicted's Web3 Blog