Splinterlands - I decided to hold a minimum of 1 million DEC for long term
This is a decision I made long back. I was holding a lot of DEC for the long term but when I saw the price of DEC hit 3 cents before the release of SPS, I reacted quickly and sold over 100k DEC with the intention to book some profits. The only thing that I had in my mind was the thought that DEC is always soft pegged in such a way that 1000 DEC is always worth 1$ and anything above that is a selling opportunity. We have had several opportunities after the SPS drop to sell DEC for a better price. But still, people did not sell it because DEC was very important for the drop.
I did miss many opportunities to sell my DEC. Even though I did not have that much it was so tempting but I was holding it tight. I realized my mistake only after the price hit more than 10$ after the release of SPS. People went crazy in purchasing all the Splinterlands assets thus pumping the price of DEC and other assets. I was still holding and did not react to any of the changes. I was wondering if I should have sold some DEC when the airdrop ended. But then the Splinterlands team came up with an announcement saying that holding DEC is going to be good because it will be pegged to 1$ again.
When I started playing this game, I had a goal of reaching a minimum of 100000 DEC. I did achieve that goal line back. Today I'm again thinking of having one more goal to get 1 million DEC in total. I currently have about 500k DEC already. I still have to cover the other half. When I checked the rental income, I found that I was getting close to 100k per month. At this rate, in another 6 months down the line, I should have my 1 million DEC goal done.
The next question is to understand if it is worth holding DEC. Today after the introduction of SPS, the price of DEC has fallen. They say that the value would again pump after they bring more use cases for DEC. I agree that the supply of DEC is still high but I'm sure the team would come up with use cases that would pump the price to 1$ per 1000 DEC. We need more burning to reduce the supply and increase the value. Let's see how that can happen.
Maybe I might book some profits if the price of DEC is pegged back to 1$. In addition to that, I will also keep working on bringing my overall holdings to one million. Booking profits is also important because the price of DEC keeps going up and down and it can sometimes be a good opportunity to sell high and purchase back low. That's also something we can explore. The new features planned by the Splitnerlands team for the coming releases can also make DEC price tank a little bit to its soft pegged value. Though there will be selling pressure, people holding DEC will always be there. I would like to be a part of that crowd.
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Dammn!
If Dec is going to be peg at 1$ that would be insane! :D
Oh. This is really nice objective. I hold 500k DEC to buy SPTLD packs.
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That's nice. Good luck. 👍
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Consistency and awareness is key. You have shown enough consistency with all Hive projects. Awareness to sell and buy at right time will definitely help you achieve your goal sooner than later.
I don’t see any value in holding Dec opposed to SPS. At least SPS brings in yield…
We may not know what other Exciting usecases for DEC.
I do assume that you are using an automated renting service to manage this all. If not, you could increase you earnings with one of those.
I am using https://splex.gg/?ref=zeqxyzex9bftxid4 which makes sure that almost 90% of my rentals are actually rented out.
Feel free to use the referral link, if not you are smart enough to know the site.
I'm already using the same site for renting. I never knew they had a rental system. Nice.
So many opportunities in Cryptocurrency. This is really giving people options, especially on Hive. There are a number of ways to benefit financially from the growth of SPS.
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If you are just going to hold it then it might not be worth it but I do think the DEC LP pools might make it worth it. However, it's possible for IL to happen.
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It's a pretty good plan. I'm holding my DEC until we pass the peg, then I'll start taking profit. Though I do still browse the card market every few days and pick up any deals I see.