Rising Star Meme #76 - Are You Investing in Hive or Yet Another Fiat?
You Might As Well Get Distracted By This
And it is no surprise! 1.1M STARBITS - $277, and just a few hours ago it was $259. One would start panic selling, and that's no good. Just a closer look at the Buy Orders shows how strong the market is sticking to STARBIT's peg value:
That's thousands of dollars worth of HIVE and STARBITS (and who knows how many are watching and waiting for a position to buy and not to put an order).
The point is
Not to freak out when your USD value of assets drop just because of how Hive Engine calculates and shows things. If anything, it just means that it's time to move your money from outside the game into Rising Star (if you want to invest more) as Hive is cheap right now (or just convert your HBD to Hive).
Rising Star is a strong project and is keeping its Hive peg almost perfectly!
I once again say that there is nothing wrong with seeing things in fiat - that's the currency your real life is based on (still😛). But don't go around ruining your Hive/Rising Star account just because it looks like your stuff is going down.
A Big Tip
While there is no actual value to peg Hive's USD price, I've seen talks about how people with huge HBD stacks are just waiting for Hive to fall below $0.80 and start converting!
The guide was to:
- Hold onto HBD (or even put it into savings) if Hive price > $1
- Hold onto HALF of HBD (and put it into savings) and convert the other half into Hive if Hive price is around $0.80-1
- Convert ALL HBD into Hive if it drops to $0.75 and below
I read it somewhere on one of the witnesses'(?) blogs and I believe it makes a solid floor for Hive at $0.80 if enough people follow it and nothing goes South regarding the integrity of the blockchain itself (fraud and stuff).
Bonus Joker
That Joker vibing in the background is just a way of me demonstrating those Rising Star junkies (myself included) who vibe with the game no matter what happens and in which direction the game (and its market moves). The game is streaming free quality songs, which is a value no other project can easily provide - a backbone to the treasure known as Rising Star.
Stay safe and don't let go of your assets easily
Cheers~
I love to arbitrage too.
I am keeping my Hive reward from a contest liquid so that I can sell it when its price goes above 1USD. And then when it goes down again, I'm gonna buy more Hive. 😍
I do the same of some community tokens.
!1UP
Right on! I've been going out of my way to tell people that this is a great way to stack more Hive, but they wouldn't listen.
Most are like "Stake every single Hive" which is a solid strategy, but I like having every single HBD work for me :D
Also, putting a couple Hive aside for the rare occurrence that Hive goes up to 3 bucks like last time seems like a legit strategy as well :))
I previously set my Hive rewards as 100% powered up, but with the increase of HBD savings APR I changed my settings so it is now 50/50. 😁
Yep yep! That's the way! Distribution of assets is key. HBD can be seen as 'investing in the event that Hive goes down while keeping your investment safe from volatility. Wouldn't wanna miss that y'know! Even if Hive doesn't go down, 20% APR on a stablecoin is not something to miss :D
Couldn't agree more. 😍
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I Will keep half rewards as HBD, 20% apr is Just a lot!
Yep, not all money in one pocket :D
Thanks for your daily dose of shared wisdom!
This time I do not get the point on why "Convert ALL HBD into Hive if it drops to $0.75 and below". Which mechanism am I missing? Isn't it that the actual worth of Hive is converted into HBD, that is i(f Hive is 0.75) I need (1/0,75=1,33Hive for one HBD) to create?
Converting HBD to Hive is the same as buying into the blockchain itself! Like moving money from outside of Hive into it. What makes $0.75 Hive special is that it is a solid resistance level and many are waiting for the price to drop to that level so that they can start buying - I don't think it can go much lower than that. So essentially, a $0.75 Hive is the best deal I can think of and I would start stacking before anyone else does! But I could be wrong and it might go much lower than that.
Another way I think of it is that HBD is just a stable coin, but Hive has the ability to be staked and give you more Resource Credit. For a normal Hive user, something around 20-40 HP is enough for daily transactions. But for a developer (which I intend to become) depending on the way the game is going to be designed, I would need much more HP than that. Some designs for the game need more HP the higher the number of players becomes! (Like how Rising Star needs to send out a transaction each time a player withdraws their starbits) So getting as much Hive as I can is vital.
1 HP gives the same amount of RC no matter the price (that's how I think it is - I haven't checked the docs yet), so I'd rather get it cheap and store it for future use :D
Though I do try to keep the fiat value in mind. For now, however, getting more HP is a top priority.
Also, a game's curation needs lots of HP too! Games with higher HP tend to have better communities overall like the challenges and contests SPL posts weekly!
Okay, understood and thank you so much for clarifying! Glad I did not miss that much ;)
Hope you will be successful on your path to developer! Hope our (giveaway) community can offer you some support ;)
!PIZZA
Thank you! Rising Star has helped me so much in building my account from scratch and when the game launches, I'll try to return the favour as best as I can :)
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The NFT based music career game built on HIVE
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