My daughter asked me today how much the value of HIVE is and being on or about $0.06c it is roughly R1 with the exchange rate fluctuating between R16.3 and R16.5 to the US Dollar so give or take $0.061c. This is quite an eye opener knowing we all feel that HIVE is so low in value due to the markets and at least it has a chance of rising in value in the future.
The Rand with the US Dollar being fairly weak is still maintaining it's position for now and is expected to depreciate even more over the years to come. There is no silver lining with this one having returned to South Africa in 2004 and have slowly watched the Rand move from R5.61 to as low as R19.20 to the dollar since then. The crazy thing is HIVE will at some point have more value than the Rand and that is not a maybe, but guaranteed.
I have never looked at HIVE as being one on one with the South African Rand and even though this is quite shocking is also reassuring at the same time knowing HIVE is in USD and not in Rands. I have no positive things to say on the Rand as there is no long term future and why you have to keep all funds off shore in either USD, Euro or GBP.
Those that have wealth tied up in South Africa are here for the long term and they have no thought of leaving the country. What I have is two properties and a business, but the thoughts are not about staying and more about leaving. I see no point as I am not only thinking of myself, but my kids and grand kids and why I cannot tie finances up locally because at some point it will be impossible to move due to the weakness of the Rand.
I spoke to my son about this a while ago and his generation will at some point be stuck here if they have not moved already. Selling a property in South Africa for millions does not guarantee you a property overseas with the proceeds and a 4 bedroom house here will most likely only afford you a two bedroom semi detached house in the UK or Europe. This is the reality and why keeping funds off shore is the only sane way to think.
Having a crypto portfolio including crypto like HIVE does give me some peace of mind knowing that there is external investments if the need arises which I am sure it will at some point. the crypto in my mind earning rewards daily via staking is more of a plan B and is more a pension type fund for later in life. I can only imagine what it must be like having a pension fund in South Africa because it will never be enough no matter how much financial planning you have done. When the Rand hits R20-R25 to the USD even those well off would have lost 30% of their true wealth.