The Only Problem With The Secondary Tokens
This is a post I have been meaning to write for some time and today's dump with CTP gave me the perfect excuse to write it. The price has since recovered, but I don't believe it should ever come to this. You don't ever dump on a community you are earning from as that is clearly wrong. Sell some by all means, but taking it to 0 is just not right. If everyone had that mindset there would be no tribes except a few and we are talking possibly only a handful.
I noticed this morning looking at my Leodex wallet that my CTP token value has simply vanished. It was never huge, but the 10 500 CTP staked was worth something and not the $0.15c it reflects currently.
There are a handful that hold their value like Leo, Bro and Utopis as they are operated slightly differently. Leo has more than 1 use case and more importantly has an active community. At some point I do expect the value to increase just by the team constantly developing and expanding growing the community.
SEED is a major exception to the rule as it is an investment in @empoderat and what he does best. He is known for his trading genius mainly outside of the Hive ecosystem and that investment has literally done a 4 x since launching. I wouldn't be shocked to see this hit 10 x once the Bulls are back in town and 10 x is being reserved as the more value the more Empo has to play with.
All the others don't hold that much monetary value and I see this as more of a support to the community for holding the stake. That value is totally different to monetary and is actually more important to the entire Hive eco system. I see it as more of an investment into that community and being part of something far greater than a monetary value. That is the place where you spend your time and is like a second home and you cannot put a price on that.
In many cases it is not hard to become a whale, but that is also a catch 22 as if you sell there is not enough liquidity and guess that is what happened with CTP. For example my sports stake would take
years to sell and not something I would ever consider doing as it would taken everyone's bags down to 0. Sports means far more than that and why if I sell any it would be small bits at a time and nothing major.
The value is not in the stake you hold, but the community you support and that is how I believe we have to think when growing our community token bags. I wouldn't join a community just because a token value is worth more as the important thing is that you are interested in that subject whether it is sport or something else. I don't think you will ever get rich from 99% of the community tokens, but it is an extra reward over and above the Hive you earn.
I do think too many users put too much emphasis on the community tokens through selling pressure instead of supporting the community that supports you. Dumping the tokens daily or weekly is milking the community of the value they provide and is doing no one any favors. Give those tokens a chance and hold onto them even if they end up at 0 as the community gives you way more value via Hive rewards.Last November I had around $25K in value in Leodex, but that is only on paper as that doesn't mean there is liquid to actually sell them.
Who knows when there are hundreds of thousands of users the liquidity may be there and that is what I am banking on as this is long term and not for now.
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HIVE-Engine has a huge problem with liquidity. The tokens page show that most of the coins have less than a dollar in daily volume. There's usually only a dozen coins with more than $1,000 a day. There's usually about 36 that have over a $100 a day.
This means that even a ten dollar transaction could result in a wild swing in price with most coins.
I think that the best way to improve liquidity is for people to play the market. Instead of powering up all of my coins, I often drop a sale order at or near the ASK price of a favored coin. If the sale goes through, I then use the SWAP.HIVE for a buy order at or near the BID price. The purpose of the orders is just to increase the liquidity of the coins.
Unfortunately, I fear that the high interest on HBD has pretty much doomed most of the alt-coins on HE.
The primary source of funds of the alt-coins was the HBD author rewards. Because of the 20% interest on HBD, most smart authors no longer transer any of their earnings to HE.
Anyway, I find no fault in the people who are dumping their HE coins. As long as the interest on HBD is 20%, there is no reason for anyone to transfer their earnings from HBD into HE.
!WINE
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I never thought of it like that and you could be right with the HBD staking. There are definitely some wild swings and it is all down to ow liquidity.
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Is this another word for “tribe owners have to beat this offer to stay competitive”? Will we see any tribe becoming able to compete with HBD returns? Will tribe owners chicken out and dump their tribes? Mirror mirror on the wall, who shall be the best amongst all.
Truth is HBD being a catalyst for dumping HE tokens should be a good thing. It means new ways of accruing value has to be innovated.
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When I see the secondary tokens I've earned on Hive, selling them doesn't even come to mind. I guess it's different for everyone depending on how much stake you hold but I feel it is still way too early to dump any of those tokens
Totally agree as you have to give these projects time to build and develop into something. If you are knocking them back every day then what chance do they have of increasing their values.
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That's too bad about CTP. I didn't even notice actually. Between what I have staked for the platform itself and what I have staked for Listnerds, I don't really pay too much attention to the price. There are more uses for it than ever now, so I don't know why someone would want to dump. I guess they don't use Listnerds.
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There is no reason to dump even if you aren't involved with Listnerds. Give the projects time to get going and have some patience as many will succeed and bring real value over time. We are so early and Hive is still under the radar.
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For sure!
The second layer tokens are more of status symbol in my opinion. Except for some. I like the millions of SPORTS I have, and will never sell that stake. It sure is no money I am counting on!
If I count correctly I see only 2 or 3 tokens worth buying now, LEO for sure but also CENT and BXT
<3 BXT
There is still some value to all of the tribal coins.
A person who is participating in a community should buy a lot of coins in that community.
Some of the coins still give out a great deal of interest. I was not into buying #POB when it was trading at over a HIVE. but I think it is worth accumulating now. There is actually a growing number of artists dropping original artwork on CCC. So I've been accumulating CCC.
LEO seems to have a low interest rate; so I am not as interested in it as I am in CENT.
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Watch out for the human traffickers at hivefest. You wont know it until its too late. STAY AWAY! Beware, traffickers can be women or men! They will act nice until they dont. There is human trafficking going on around this type of crypto. I have witnessed it. They literally have attempted my murder and are trying to kill me with V2K and RNM. Five years this has been happening to me, it started here, around people that are still here. Homeland security has done nothing at all, they are not here to protect us. Dont we pay them to stop shit like this? The NSA, CIA, FBI, DHS, Police and our Government has done nothing. Just like they did with the Havana Syndrome, nothing. Patriot Act my ass. The American government is completely incompetent. The NSA should be taken over by the military and contained Immediately for investigation. I bet we can get to the sources of V2K and RNM then. https://ecency.com/fyrstikken/@fairandbalanced/i-am-the-only-motherfucker-on-the-internet-pointing-to-a-direct-source-for-voice-to-skull-electronic-terrorism ..... https://ecency.com/gangstalking/@acousticpulses/electronic-terrorism-and-gaslighting--if-you-downvote-this-post-you-are-part-of-the-problem if you run into one of them you may want to immediately shoot them in the face. 187, annihilate, asphyxiate, assassinate, behead, bleed, bludgeon, boil, bomb, bone, burn, bury, butcher, cap, casket, choke, chop, club, crucify, crush, curb, decapitate, decimate, deflesh, demolish, destroy, devein, disembowel, dismember, drown, electrocute, eliminate, end, euthanize, eviscerate, execute, explode, exterminate, extinguish, finish, fry, grind, guillotine, gut, hack, hang, hit, ice, implode, incinerate, kill, liquidate, lynch, massacre, maul, microwave, mutilate, neutralize, obliterate, off, pop, poison, punnish, quarter, ruin, shank, shock, shoot, shred, skin, slay, slaughter, smoke, smother, snipe, snuff, squish, stab, strangle, stone, suffocate, suicide, SWAT, swing, terminate, torture, terrorize, whack, waste, wreck. You better fucking kill me.
Did you misspell monetary, or did you mean to say monitart haha! Point well taken!
Lol. Will blame borrowed laptop for any spelling errors. Only 1 is not bad and once you commented on it it stuck out rather nicely.
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Haha GOTTEM!!
Who was it that dumped CTP and was it a fat finger mistake or just being a dick?
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I wish all have such a mindset, help the community grow and not dump. But we do have different goals and strategies and maybe that is why some just dump whatever they do not like to hodl.
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Arguably, LEO is the best among all the secondary tokens. The engagement is superb and that really helps strengthen the fundamentals of a social media outlet in the finance category.
The problem is that the community does not take it as a governance token. The day the larger mass realizes the importance of governance by holding or staking coins, they will value the coins more than their monetary value.
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From a financial perspective HE tokens are a massive risk with their one point of issuance so it's probably best not to treat them like anything other than a bit of fun/ and about something different.
Who sold all their CTP then?!?