While a couple tokens I hold some of have gone on a pretty big run recently, Hive seems to be the laggard as usual. It has generally been the case though, so it is nothing to be concerned about. And, in the last six weeks or so, Bitcoin dominance is over 50% for the first time since about April 2021, which is around the time of the second to last ATH of 63K, before six months later it was extended to 67K - but it has been a while between drinks for ATHs since.
Are we due?
Sure.
But, since I don't have that much BTC, I am more interested in what HIVE is going to do. Several times over the last weeks it has looked like it was going to break free a little, only to be quickly suppressed in its infancy. It seems like someone doesn't want it on the loose yet.
It's a conspiracy!
Unlikely.
But, manipulation isn't too hard when there are only a few exchanges listing HIVE with volume. UpBit has the greatest volume by far, but that is just Korean traders doing what Korean traders do. While I have some confidence in crypto value as an industry in the future, I have very little when it comes to the value of it on the exchanges alone. I get why so many people think it is a scam, because on the exchanges, it pretty much is just a game for players to stack some fiat.
Shoulda played the fiat stacking game.
Didn't.
I think it is because like me are too early in our actions and too far ahead in our thinking. We can see the benefits of crypto, but think it is all going to happen faster than it is. It takes decades to build a new industry and then, there is also the uptake time, and the culture shift time, and the behavioral change time. And then for crypto, the time it takes to overcome the resistance of those it looks to undermine, the banks and the governments.
A lot of time required.
More.
The talk is of patience, but how patient are we really when there are constant pressures demanding attention now, not to mention the wants we have that are demanding attention now also. I was thinking a little about some of my wants today when i was writing about the lack of motivation and realized, there really isn't anything I "want" that I really want. Nothing really material anyway. Sure, it would be nice to get some things done to the garden and then there is a stretch goal of getting the basement done, but there is nothing, I don't know...
Nothing fancy or flashy.
Sad?
Perhaps the Lambo! dreamers have got a stronger reason than me to want, because what they are after is something that they are unlikely to get by other means. For me, I can slowly get out into the garden and dig and bit by bit, collect the money to do the basement, or start doing parts of it myself. Even without crypto. What crypto earnings would enable is, to speed up the process dramatically.
There is value in speed.
Sometimes.
Bitcoin is currently sitting at the highest point it has been since mid-April 2021, about 60% off the ATH, and 50% off the one before that. From where it is now at 42K, it took 14 weeks to move up to 62K, however if this is going to be the run up, the trajectory looks like it is a little earlier in the cycle, somewhere more around the 20K mark, which means that it could hockeystick with a great deal more velocity than it did a few years ago and perhaps add another 50% or more on top of the ATH, which would mean it would be touching around the magical 100K mark.
There will be blood.
After.
But up until that point, just imagine the excitement in the conversations. Just look at the change in attitude in some people surrounding Splinterlands SPS in the last few days, where a few weeks ago people were trying to find ways to impatiently inflate the price, and now it has over doubled in price since mid October.
Impatient with short memories.
Society.
And, the same thing will and is happening with HIVE, where people are asking "Wen moon?" and when it happens, they will be talking like they knew it all along, and that they were never worried. We all worry though, because we all have something riding on this game, even if it is just on a wing and a prayer. But, in order to really benefit from the lift, there has to be skin in the game.
It's no skin off my nose.
Own your skin.
Taraz
[ Gen1: Hive ]
