Why converting obscure Hive Engine tokens to SWAP.BTC might be a good idea?
I've been swapping my freshly earned H-E tokens to SWAP.BTC. This helps me to pile on Bitcoin, however small amount it can be. Here's why I think it makes sense.
With only 19 to 20 million Bitcoin in circulation (out of the maximum 21 million), and growing institutional interest, Bitcoin has a clear value proposition. The recent attention from figures like Trump has only added to its momentum in the financial system. Now, BTC has my attention.
I get a bunch of random tokens from my activities on Hive, such as POB, LEO, PEPE, etc. Instead of holding onto some of these smaller Hive Engine tokens hoping for significant gains, I'm taking a more practical approach: I convert them to SWAP.BTC.
Of course, I maintain core holdings in HIVE and LEO, and only convert excess Hive Engine tokens to SWAP.BTC.
I like to think of it as a form of Bitcoin mining - by converting smaller assets into BTC, as a by product of my Hive activity.
Hive Engine tokens, while interesting, can be volatile and may lose value over time. Bitcoin, with its established position and limited supply, offers a more stable long-term option.
As Saylor notes, it's like physics - the fundamental properties of Bitcoin, with its potential to suck in the world's wealth, make it an appealing store of value.
Once we have a comfortable amount of HIVE and LEO, converting extra Hive Engine tokens to BTC can be a sensible move. It's not about completely exiting these tokens, but rather about managing risk and value preservation.
Have you tried similar conversions? How are you handling your Hive Engine tokens?
Posted Using InLeo Alpha
I convert all the random tokens to a few of L2 Hive tokens. Those to have a curation earning and a live community. Once I get a nice punch of that I will start converted all the random tokens to Hive or HBD
It's a pity if you are in crypto and you dont have even a fraction of BTC, after 2030, BTC will become part of the forex reserve all across the world, it's shaping in that direction.
I love your confidence, mate!
Thank you.
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Bitcoin is King, no doubt about it! It has a clear cyclical nature and one can buy low and sell high.
Hive-engine tokens are Fun though.
If you get a feel for a few of them, you can often 2X to 4X your HIVE by buying low and selling higher. The liquidity is low though, so your 2X might just be from 5 Hive to 10. :)
You can also show support for the community the token may represent. These days people value being in a digital community. They value the camaraderie and fun of shared memes and catch phrases.
You mentioned just a few hive-engine coins and PEPE was one of them, thank you! PEPE has been around for well over a year now, and prices are at least 3X from the start. Of course the price is in HIVE, which has halved since then. Meanwhile I know SPS is down 99% over the same year, and I don't follow LEO much but I'm thinking it is down maybe 50% or more?
SPS is part of the Splinterlands game which makes it more than just your typical hive-engine token. LEO is the token of that large community which also has Threads and some dex connectivity with Maya protocol. They do a lot for us all.
PEPE has the PEPE Game @pepegame now, which doesn't store data on the hive blockchain currently but pegs its game currency to HBD. The game is kind of a Splinterlands Lite, for those like me who have a hard time keeping up with all the rule changes over the years. It just started a month ago but over 50 people have played it. There is a way to Play2Earn but it is a slow process. Mostly everyone is playing it now just for the gaming fun.
Well that's my way too long reply to your excellent post! I was inspired to thinking about hive-engine tokens and you're right about the fact that
but I thought I'd add a little color commentary based on my own unique experience with hive-engine tokens.
Have a nice day! :)
Thank you for enlightening me. I knew too little about the workings of these tokens. But yes, I am very very very long with BTC.
I think it might be a good idea to swap but I'm not sure if at the moment it isn't wiser to swap to HBD than to BTC. I believe we're heading to a Bear Market soon. BTC is climbing too high too fast !INDEED !LOLZ !LUV
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(5/10)
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I think it’s whether we have a long enough time horizon, and the risk tolerance. These HE tokens are usually so small they don’t mean anything to start with. If the value is not in SWAP.BTC, they more likely get evaporated.
ok thanks for pointing this out
(4/10)
@cryptothesis! @svanbo Totally agrees with your content! so I just sent 1 IDD to your account on behalf of @svanbo.
Bitcoin mining is really getting quite risky every pleasant day actually
I have been doing this for a while now.
What I want to know is whether I can use SWAP.btc in the same way as Bitcoin.
Many SWAP.whatever coins can be used for their intended purpose. Does SWAP.btc work the same way?
I believe so. There is a tribaldex feature that can do that. Try it. We can continue communicating
Thanks.
Within the wallet of tribaldex, there is a way to withdraw BTC