Thanks, some good points here.
It's sad that somebody can buy their way to Orca with just a few bucks. It means almost nothing anymore.
I worked 3+ years full time (and put in 0.2 BTC) to amass my 10,000 HIVE, which is now worth just more than $1000. I could have saved 3 years of work (and my wife's work is included in that total too), and still had that 0.2 BTC ($8000 USD) in my pocket. Instead, I did what you are doing now - I tried to catch the falling knife.
"we who are buying and earning without selling are the ones keeping hive afloat"
That is correct. Most are selling their HIVE for BTC. Those who are holding the bag are keeping this blockchain alive. I have never sold any HIVE (or STEEM), or even spent it on anything. I have ever fraction of a token I have ever earned. Also, I have never bought any (except with the 0.2 BTC 3 years ago, which got me a few hundred STEEM at the time), it's almost ALL earned through my content-creation. I poured my life (and savings) into this blockchain and lost it all. Now the last $1000 appears headed toward $0.
The strange reality is that after all that money and years poured in.... somebody else who doesn't like my message (for example, somebody who hates cannabis users?) could come along with $20, buy HIVE, power it up, and downvote everything I do until it is hidden. I can be cancelled out for a few dollars, because my stake is so worthless. Somebody can waltz along and decide to ruin everything I have ever done on this blockchain, with almost no time or investment. It's a vulnerable feeling, and as the price continues to fall, just gets worse and worse.
It's the best time to buy HIVE, ever. So yes, maybe you should buy and power up.
But the same was true 3 years ago, when I went all in. I heard EXACTLY the same arguments you are making here in this post. Just saying! You seem to enjoy risk so what I'm saying probably sounds great to you :)
RE: Powering Up - An Honest Analysis of Hive that Once was Steem