A Drop or Heading to the Ocean?

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Watcha doing BTC?

Just a little blip on the way to 100K or are you looking for another trip to 30?

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No one knows.

I am not a huge Bitcoin holder, but I have enough to "keep it interesting", but more importantly, I have enough "other stuff" to care, because like it or not , there is a strong correlation between Bitcoin and everything else. In time it will change perhaps, but that is where we are now. What might change it?

Well, even now in the traditional industries, they are grouped and indexed by sector, so they say for example "tech stocks" are down and I think that in not too long, crypto will be seen the same. However, currently, the correlation is so strong because frankly, between the thousands of tokens, there really isn't much difference from one to the next, since very few of them have actual business models, products, services and clientele that bring in revenue. So, the "investing into" is really more buying and hoping that one day all of the promiseware don't end up being, vaporware that gets lost in the Ether.

Of course, this is why someone like me is interested in Hive and Splinterlands, because at least there are working and usable products, rather than just a conceptual framework that crypto enthusiasts cryptobate too on Telegram and in forums.

In recent weeks, I have been pushing up my SPS holdings, as it seems like a "no brainer" in terms of potential value, since it is going to be the weapon token of choice in terms of new releases and the creation of in-game assets through LAND. While no one knows exactly what all of this means yet, I think it is safe to assume that there are going to be SPS requirements and some people are not going to have enough to fully utilize their assets. This means that there will be some volatility around LAND and the assets attached to it, once it is released.

A few weeks back I was writing how I was hoping to have around 150K SPS from the end of the drop, but that is no longer the case. With the lows, I have bought some more and have now passed that number, which means that my new goal is going to get pushed back further.

There are 167 days left in the drop and through my holdings, pools and what I can scrounge together to buy, I am hoping to add around another 150K to that, meaning that I should tip out at above 300K. I am not sure how much I will be able to get from the exchanges though, as it is already starting to creep up in value by almost 40% since it hit 10.5 cents some weeks ago.

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Currently, more than half of the SPS is staked in-game and very importantly, I suspect that out of the "total liquid" a lot of it is being pooled for additional returns.

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If you look at the 12-hour chart on BSC since before November, even though there is something like 150M more tokens in the supply, the daily volume is running on fumes. This is because the price of SPS is well down from those highs, so it doesn't really give a good picture of what is actually going on.

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If we look at the total volume in SPS on coinmarketcap however, it has actually been pretty steady, which indicates that even though price has fallen, there is still a lot of trade going on across the various tracked platforms.

Does that look to be rounding upward to you?

Remember though, this is the liquid potential being traded, as over half is staked on the platform to earn currently 32% a year in SPS on it. And this staking is something that is attractive on Splinterlands and HIVE, because the token earned is the token wanted, because it has usecase. For many of the pools out there however, the token earned is only good if sold into something else, but holding HIVE brings additional benefits for example for voting and governance on the blockchain and SPS will feature heavily in LAND, which will be their own pools of a kind that create assets that can also be used.

HIVE is still by far my largest holding, but weirdly in my opinion, Splinterlands has very quickly moved into second on my list, if adding up all of the assets of cards and tokens combined. In some ways, this concerns me, but I have heard from a friend of mine that while investment "diversity" is good, that diversity doesn't need to be spread across 100 tokens, it can be a handful of assets that one believes in, as long as they are in different areas.

For me, they are not, they are both crypto and not only that, Splinterlands is heavily integrated on the Hiveblockchain, but it is also not only on Hive and doesn't need to be on Hive, under worse case scenario options. This means that "Hive failure" (I don't see it failing anytime soon), doesn't mean Splinterlands failure. And, there are enough large holders who support it who don't rely on Hive either, which means that they will contiue their support. This gives it some level of diversification for me, even though I much prefer the scenario of "win together" where both of them complement each other to compound results for everyone.

Anyway, that was a bit of a tangent ramble from the start of the BTC "dip" but I wonder, how many hands are shaken loose each time there is such a fall and what do those hands do when they realize it was just another blip on the way up? I am glad I don't have to trade daily and care that much anymore, but I do like to see more green than red.

Just zoom out a bit.

SPS to a dollar again?

Taraz
[ Gen1: Hive ]

Posted Using LeoFinance Beta



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32 comments
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SPS to a dollar would be huge

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I would be pretty happy, along with thousands of others. It is always nice to have ATHs where everyone is in profit.

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Hive have create many opportunities you can learn from which many have also derive joy in participating in the blockchain always because of the impact it has in every individual. The rise and fall of price wouldn't be a problem doing your stuff on hive because it is what keeps you going in achieving more success but mind you the profit of it at the end still matters because there is no way you will dedicate your time and hardwork without getting reward, it will just look like pouring water in a basket that has no result.

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I am not a huge Bitcoin holder, but I have enough to "keep it interesting"

Me too in these days everything is following bitcoin so we have to look at it first and if we are lucky and found its direction so we will know where others will go.

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Hopefully one day it isn't as connected - or at least, hopefully I am invested in projects that decouple from Bitcoin more :)

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Are we going to test 30k again?

What's your thoughts on it?

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35 maybe. But I am hoping for more up than down for awhile. The world economy is going to hell though, so it is hard to say how heavily crypto will be affected, but I assume pretty hard when the full crash comes.

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Blaming myself for not buying more at the last dip but I also think that SPS Price is still quiet good for investing.

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I should have bought more too, but I am okay with what I got and where.

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Interesting read, keep a handful of tokens who have good projects, by far the better way to tread.

Not enough time in a day to track and trace more than a couple 😁.

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Not enough time in a day to track and trace more than a couple

yeah. Best to choose a few that have a good chance and take a swing :) Spreading too thin will not see that much gain anyway.

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Spreading too thin or chasing around trading/checking is crazy, rather spend a couple of hours or days researching then do investment with long term plan...

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I have been stacking pretty much all of my SPS that I have been making as well. I am hoping that eventually I can get to a pretty decent place. I am way off from where you are though. I haven't been buying either though.

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Silly question perhaps, but why not buy more? You are already pretty invested on the card side I think.

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Yeah, too many other things that I am also investing in. Especially with PolyCub coming. I need to be careful where I spend my resources. I have some other plans with Splinterlands right now.

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How do you think PolyCub is going to do?

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Based on the AMA's that I have been watching I am pretty excited about it. I still have a hard time buying a token that I know I can just generate, but that is a me problem. I think that is part of the reason I am hesitant to buy SPS and CUB.

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What do you think HIVE will be during its next ATH? I don't have any SPS, which I will probably regret quite soon 😢

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Well, next ATH will be just above the last ;D

But, besides that, if for example BTC went toward 100K, I think HIVE has the potential to move toward 8 to 10 on the other side.

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Definitely and I want to also say that have been putting all my best to stake as much as I can do , despite my financial odds of recent,but I still manage to stake all tokens earn irrespective of the quantity

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I don't know much about bitcoin yet, but I've always wanted to learn about it.

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I agree that there is a correlation between Bitcoin and everything. The more correlation with real life the less manipulation.

I don't think that it will hit 100k soon. The way how the FED will act, hawk or dove, will be a strong determination for the price of BTC. (Not A Financial Advise)

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I hope SPS could curve out, but the 1$ price is more like a dream, even half of it would be nice! I guess that’s something we gonna see.

Regarding BTC my bet is rather pointing to the 30.

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J was saying i should diversify but I had a literal anxiety attack thinking about that so I told him I had diversity, I have hive and fiat XD

and now he deals with all of that nonsense and I have no idea what he's got

Those hands, well I guess some of them will learn to weather the graphs and other ones will never learn and declare it's all a scam? XD

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I am getting 50K this month, so, aiming for 100K at the end of the airdrop. That was the initial plan. It may change with the land launch, maybe, we will see.

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