South Africa has their panties in a bunch over the Rand being so weak. Going from a pretty ok 18.5 and low of 18 over a year to 19.6 on the Dollar now.
For the most part we actually have a ton of South African's that work in the USA so for them it is like free money.
Then we have crypto.
Fucking Hive.
Now possibly a non issue if a person just constantly dollar cost averages it into HBD. If you do not, well then you will be caught with a ton of Hive taking such a long dump your legs go numb holding it.
For the most part we are all quite patient and I think I am rather patient also and maybe a 34 cent Hive only seems like a bummer because I do remember a 40 cent one for the longest time.
As such when it comes to Murphy you better know the law.
Anyway, a trash currency comes in handy in such times if only to balance things out.
So if I wanted to take out my 40 cent Hive a bit ago when the Rand was at 18.5 on the Dollar, say $500 worth I would have gotten R9,250 rand.
Now the currency of the savage lands is at 19.6 and Hive is at 34 cents so for the 1250 Hive I got $500 for before I would now only get $425 and R8,330 rands.
So Hive did dump more than my currency but at least Hive is more volatile, so there could be a little saving grace, I would only need Hive to have a slight hickup till 37.8 cents to balance it all out instead of all the way to 40 cents.
Anyway doing the math just distracts a person from the shitshow which is the economy. For the most part most can fall back to just their normal wages then you get to look at earning crypto as a bit of a bonus and do things like oh I will sell a bit lower and balance this or that imaginary number.
However it is becoming more apparent that balancing that imaginary number is not going to cut it and having a solid number you can count on in a environment with no certainties will make all the difference.
When the trash currencies can't go much lower to "bail" you out then having two of them will make it far worse.
Now fair enough Hive is not supposed to be held unless staked or intended to gamble but here we are and holding a bit longer than what is ideal will always be part of the game.