Right down the crapper...
Talk about a kick in the groin! I'm not going to pretend I was totally shocked this morning when I saw the notification on my phone that Bitcoin had crossed below $80,000, but it still didn't make it any easier to handle. I'm not even going to try and guess what is going on at this point. The best we can do is just hang on and ride the wave. Hopefully you were able to take some gains and maybe move those back into something at a discount here.
I have been doing a regular buy of USDC each month for occasions like this. I am not sure what I am going to buy yet, but I will likely be making some moves yet this morning. In fact, I already started a withdraw of 500 HBD from my account. Hopefully these low HIVE prices hold out long enough that I can get some at a discount in three days when the HBD is finally available.
It is time again for another Finance Friday/Friday Finance. This is a series I started where I talk about random bits of financial stuff that I have seen, gathered, or experienced during the week. I hope as a reader you find it informational, entertaining, or both. I also hope it can generate some good discussion and edify the community.
I've got a half quart of Penzoil sitting on my workbench at home if anyone needs some lubrication from the absolute thrashing we just took. We really didn't even have time to properly bend over. I think a lot of people thought we were finally going to go up a bit.
To be fair, the markets are coming back a little bit this morning, but who knows if we have another dip in store for us.
I think at this point Olivia Rodrigo put it best and I can't seem to get this song out of my head:
SPS Nodes
It would appear that SPS nodes are finally live. If you missed the post, you can check it out here. I've talked to a few people who I know have licenses and it sounds like they don't plan on spinning up a node. I think they feel that the cost to run the node will not be covered by what they earn from it.
That's definitely a concern. I already have some virtual resources at my disposal, so I think I might spin one up just to see what happens. I think my biggest concern is whether or not it will be accessible behind my firewall. I don't want to have to punch a bunch of holes in my security, so hopefully this just uses regular web ports to work.
I honestly don't know too much about it yet, and I haven't really been able to get any answers. I might have to pop in the Discord and see if anyone has more information there. I am sure there are people who were already running their node on the testnet who can help.
Last Will And Testament
I wrote about this a while ago, but @mrsbozz and I finally had our meeting with the lawyer earlier this week to get our estate planning taken care of. It's not a quick process. After I created the appointment, they sent me a seven page document I needed to fill out to get the ball rolling.
When we met with the lawyer, I apologized that there were some sections I wasn't able to complete. She said no problem, we had actually filled out more than most people do.
I took the advice of the folks here on HIVE and I listed my crypto holdings. She wasn't sure how to address that and she actually said instead of just doing a straight will, we should probably set up a trust mainly because of the crypto. She had zero clue how to handle it. I have a hard time believing we are the first clients she has dealt with who hold crypto, but maybe the others chose not to disclose it. I don't know.
I didn't separate out my sliver that I hold. I just plan on including that in the trust and my brother in law who will be the executor of the trust can distribute it as he sees fit. Hopefully, we will live long enough that I can just gift what I hold to my nieces and nephews one day when it appears I no longer need it.
Now we wait three to four weeks for them to get all the documents created for us to sign, then $2500 later, we are all set. Our assets will be protected from probate if something were to happen to both of us and our nieces and nephews will be ensured a bit of financial stability. After they are 25 of course. The lawyer said that is a pretty standard age for distribution of the funds, so we stuck with that.
T-Mobile/Starlink
I really feel like the quality of Super Bowl commercials has went downhill over the past decade or so, but there was one commercial that stood out to me this year. It was the partnership between Starlink and T-Mobile to offer a sat phone like experience on their regular network without having to buy any special equipment.
This is kind of a big deal for @mrsbozz and I given how much we travel and how often we find ourselves in state park campgrounds with very little signal. I decided to visit their website and put my name in the hat for early access.
I got the email late last night that I had been selected for beta testing. They are going to send me more info as they get closer to launch, but I am kind of excited to be part of this program. It's on my work phone, so it isn't like I do anything I shouldn't be doing on there really, so I am not too worried about the privacy aspect of it.
By now we should all realize Elon can get any of our data whenever he wants anyway...
My big test will be to see if this gives me better coverage down in Columbus, OH than I usually get. For some reason 5G is absolutely horrible down there. Even with full bars, the speeds are just painfully slow.
Try to ignore the pain this weekend and enjoy some time away from the markets. Maybe by the time you come back, things will be better!
Sports Talk Social - @bozz.sports
I actually want to see the market bleed more so I can buy more, cheaper. I know it will bounce back at some point, I'm not in a hurry.
I would love to hear about your experience with t-mobile/starlink when you get it, I'm curious about it.
Thanks I will let you know once things get up and running. I'd like to take some more gains first before I worry about buying back in. We will see.
I think it still needs to fall more. This wasn't a very large correction, percentage-wise. I say it climbs a little more in a bit of a fake-out, then dives down to 70k.
Will be a fun ride, either way 😃
I guess we will see!
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I think crypto needs shaking up now and then to see who is in for the long term. I'm not so interested in those who just speculate on it.
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I found the decision-making in estate planning quite hard work!
My wife and I were pretty much on the same page, so it wasn't too hard for us. Then we just plan to have everything split seven ways. It won't be our problem at that point anyway! :)
I still need to figure out my API setup for SPS validator node, but the rest is pretty easy setup. If you have multiple licenses it would make sense to run your own node. Also, top voted nodes should be profitable even with one license.
I think I have decided I am just going to delegate it to PeakMonsters. It makes the most sense since I only hold the one and I doubt I would be able to get the votes to be a top node.
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Interesting thoughts. Thanks for sharing :)
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It's down, but I always tell people "when in doubt, zoom out".
Very true!
It sounds like you’ve taken a significant step toward securing your future and protecting your assets, @bozz. Estate planning, especially with considerations like crypto, can be complex, so it’s great that you’ve tackled it head-on.
It's interesting to hear about the challenges you faced with listing crypto holdings. Digital assets are indeed relatively new territory for many lawyers. Trusts can be a smart move for handling crypto, given their flexibility and the protection they offer.
$2500 may seem like a hefty investment, but the peace of mind it brings, knowing that everything is in order, is invaluable. Plus, setting the distribution age at 25 sounds wise, ensuring the beneficiaries have some maturity before handling potentially significant assets.
Estate planning might not be the most exciting task, but you've clearly done your due diligence. Kudos to you and @mrsbozz for taking these steps.
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Thanks, hopefully it is mostly all for naughty, but it will be in place should the worst actually happen. It will be interesting to see what the hourly rate is whenever we want to have things changed with it.
If you travel a lot a sat phone is really a nice thing to have! When I was travelling a lot with my consultation company I had one because there were times I ended up going overseas. The sat phone was great! I no longer use one now, to expensive! Interesting that starlink and and T-Mobile are teaming up.
I never bought a node for SPS, just never sense to me. I hope everyone does well that sets them up though.
We did take a serious beating on BTC, it was painful to check my account. Hopefully we see a bounce back soon. I've never been all that into Olivia Rodrigo, but my niece is. She ended up spending over $900 for tickets to here show, ouch! I remember the good old days when concerts were less that $20 a ticket! Those days are long gone thanks to ticketmaster...
Wow, I don't think I have ever spent that much for tickets, even for two of us. Sometimes they do $25 lawn seats, but by the time you add the fees they are much more than that. We will see how the T-Mobile thing goes.
"The Truth About Hive: Exposing Corruption & Building a Better Future"
Part 1: Uncovering the Shadows – A Call for Accountability
Chapter 1: Introduction – Why Transparency Matters
In decentralized ecosystems like Hive, transparency isn’t just a buzzword—it’s the lifeblood of trust. Without it, corruption festers, communities fracture, and innovation stagnates. Yet, despite its promise of freedom and fairness, Hive has fallen victim to systemic abuse that threatens its very foundation.
At Bilpcoin, our mission is simple: expose the truth. For too long, bad actors have exploited Hive’s openness to enrich themselves at the expense of honest contributors. Scam farms, coordinated downvotes, and puppet networks have turned what should be a thriving ecosystem into a battleground for control. But here’s the thing about corruption—it thrives in silence. And we refuse to stay silent.
This book is divided into two parts. In Part 1, we’ll shine a light on the dark corners of Hive, uncovering the scams, abuses, and unethical practices that harm the community. In Part 2, we’ll offer practical solutions to heal Hive and build a brighter future for everyone. Together, we can reclaim this platform and ensure it serves its original purpose: empowering creators, fostering collaboration, and rewarding integrity.
Chapter 2: The Anatomy of Abuse on Hive
Scam Farming: Exploiting the System
One of the most pervasive forms of abuse on Hive is scam farming. Accounts like BuildaWhale operate openly, siphoning rewards away from legitimate users while contributing nothing of value. These farms rely on massive delegations and automated voting schemes to manipulate curation trails, ensuring their chosen beneficiaries reap disproportionate rewards.
But scam farming doesn’t exist in isolation—it’s part of a larger web of corruption. Top witnesses and influential figures often enable these operations, either directly or indirectly. By turning a blind eye, they perpetuate a system where wealth and power are concentrated in the hands of a few, leaving smaller creators struggling to survive.
Coordinated Downvotes: Silencing Dissent
Another weapon in the arsenal of bad actors is the coordinated downvote. This tactic isn’t just about suppressing content—it’s about intimidation. When someone speaks out against corruption, they’re met with waves of downvotes designed to silence them. Their reputation plummets, their rewards vanish, and their voice fades into obscurity.
What makes this particularly insidious is how normalized it has become. Users who engage in these tactics justify their actions under the guise of “self-policing,” but let’s call it what it really is: censorship. Instead of addressing legitimate concerns, they punish those who dare to challenge the status quo.
Alt Accounts and Puppet Networks: Masking Unethical Behavior
Behind many abusive practices lies a network of alt accounts—anonymous personas used to amplify influence without accountability. These accounts allow bad actors to mask their identities, making it harder to trace unethical behavior back to its source. Whether it’s boosting low-quality content, orchestrating downvote campaigns, or creating the illusion of widespread support, alts play a central role in maintaining the cycle of corruption.
Chapter 3: Profiles of Harmful Actors
Case Study: @themarkymark and BuildaWhale
Few examples illustrate Hive’s corruption better than @themarkymark and his association with BuildaWhale. Through meticulous analysis of blockchain transactions, we’ve uncovered patterns of withdrawal activity that raise serious questions about the ethics of these operations. For instance:
These findings aren’t speculation—they’re facts recorded permanently on the blockchain. Yet instead of addressing these issues, enablers continue to defend such practices, further eroding trust in the ecosystem.
(Insert link to investigative post: Uncovering @themarkymark's Withdrawal Activity)
Chapter 5: Connections Between Witnesses and Abusers
Top witnesses, tasked with upholding Hive’s integrity, have repeatedly failed to act against corruption. Instead, many actively participate in or enable harmful behaviors. This collusion creates a toxic feedback loop where unethical practices go unchecked, emboldening bad actors and discouraging honest contributors.
Part 2: Healing Hive – Practical Steps Toward Positive Change
Chapter 6: Redefining Community Standards
To rebuild trust, Hive needs clear standards that prioritize fairness and accountability. Here are three actionable steps:
Establish Zero-Tolerance Policies for Scam Farms
Communities must ban accounts involved in scam farming and moderators should work together to identify and blacklist known offenders.
Combat Coordinated Downvotes
Introduce mechanisms to detect and penalize coordinated downvote campaigns. For example, algorithms could flag suspicious voting patterns and alert administrators.
Promote Transparency in Governance
Witnesses and key stakeholders should publish regular reports detailing their activities and decisions. This would hold them accountable to the community and reduce opportunities for corruption.
Chapter 7: Empowering Honest Contributors
Hive’s strength lies in its people. To nurture this potential, we must create an environment where honesty and creativity are rewarded. Here’s how:
Reward Quality Over Quantity
Adjust reward systems to prioritize meaningful contributions rather than friends voting friends and self voting with alt accounts. Curators should focus on promoting posts that add genuine value.
Support Newcomers
Develop mentorship programs to help new users navigate Hive’s complexities. Pair experienced creators with beginners to foster growth and inclusivity.
Celebrate Diversity
Encourage a wide range of voices and perspectives. Highlight underrepresented groups and showcase their achievements to inspire others.
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