I asked DALL-E to create an image of bees flying around a venus flytrap. Somehow we are attracted to things that harm us.
The only way to judge the value of one's HIVE account is to measure it. With this idea in mind, I've been tallying up the value of my HIVE empire since August 2021.
The tally is useful. For example, in the middle of the month I faced the stark realization that the price of STEM had fallen 99% since August 2021. Many of my HE coin holdings have suffered similar fate.
I bought 14K in STEM to bring the value of my STEM back up above $10.
I did this cost averaging on several coins. Sadly, the prices of coins on HE seem to drop so fast that cost averaging just increases losses.
I keep the failed coins in my tally to remind me that it is likely that the whole platform might fail.
Speaking of the platform failing ... I wonder how long it will take before the whales and witnesses realize that the 20% interest on HBD was a huge mistake?
The 20% interest did not attract thousands of new users as the whales promised. Instead the $100 grand a month we pay in interest is a huge weight that holds down the price of HIVE and the HE coins.
We have seen a large number of users leave the platform.
Debt destroys. Smart users cashed out when the platform raised the interest rate.
But lets get back to the tally.
My tally from last month showed that I had 1,097,974 tokens with a reported value of $2,367.08. This month I have 1,147,485 tokens with a reported value of $2,261.23.
I also have some NFTs, but I wrote off the NFTs as a total loss.
This month I sold $36 HBD at $0.28 HIVE and bought HE coins. The smart move is to convert your HBD to HIVE when the market is weak.
I know that there are smart users on HIVE because I watch the HBD monitor daily. Smart people accumulate HBD as the price of HIVE rises. They convert their HBD to HIVE when the market is weak.
I wish the monitor showed historical data as it would then show, in living color, that HBD puts a tremendous downward pressure on HIVE when it is weak ... but only a slight upward pressure when it is strong.
Let's see. What else happened in the month: I bought 1,900 SWAP.BLURT which disappeared when I swapped them for BLURT.
I hate swaps. Swaps fail too often for my taste.
In other news. I seem to be reaching my investment goals for many of my coins. I now have 1000 ALIVE, 10K CENT, 70K CCC, 21K STEM, 5K POB, 11K VYB, 41K PAL.
Although STEM has lost 99% of its value. I think the coin has finally hit bottom and might start paying off.
I am reaching the point where I am thinking of selling coins to pay down debts.
I track my account growth on my personal site. The chart shows the account growth since August 2021.
The account was worth over $13K back in 2021 but has been in a free fall since.
The chart shows a light grey and dark blue line. The light grey line shows the reported value.
I borrowed money to fund the account. The dark blue line shows the reported value minus the loan. NOTE: I assume that my time has no value and that the money I borrowed does not collect interest. These are both white lies I tell myself to make my HIVe investment look better.
I am optimistic about the future.
The decision to charge 20% interest on HBD was a bad decision.
I've been with numerous companies that failed. I can point to lists of hundreds of companies and thousands of individuals who were brought low by debt.
Individual and corporate bankruptcy often follows a pattern. There is a romance people that lasts about three years where debt seems to be a miracle.
In the first years of debt, it feels like money is falling from space. It takes a couple of years for people to wake and realize that hundred thousand dollars we are paying each month to service the debt is not worth the harm that it is doing to HIVE.
But since this debt is of our own creation. We can turn it off.
