What the fucken fuckety fucking hell?
It seems like only a short time ago I was on the exchanges trading daily, hours a day, but it's been a couple years at least since I've consistently traded. I don't miss it as I find the entire thing of it to be quite annoying - and I have far better things to be doing with my life - although I made a lot of gains and increased my holdings by huge amounts at the time which isn't a bad thing. In those intervening years I've been focused elsewhere and considering that my crypto-currency portfolio is the smallest of all my investments I'm not overly concerned.
I've kept an eye on things and am apprised of the market shifts and trends and have sporadically hit the exchanges to make a trade or to buy outright however there's not been enough interest to keep there long and despite my portfolio being sizable its been more important to invest my time in other areas of my investment portfolio and in life itself.
Today was one of those sporadic days on which I decided to hit the exchanges and see what's up...as it turned out nothing was up, just down.
I suppose something might be up but none of what I hold is looking very good at the moment and despite a momentary thought of what the fucken fuckety fucking hell is fucking going on with the fucken markets I took it for what it is - I'm not selling anything so it doesn't really matter what the prices are. I made some purchases, it's always a good time when one's dollars buy more than they did previously, and moved on.
I sat a cafe, I'm still here actually, and did the exchange stuff and logged out soon after but residual thoughts stayed with me.
Crypto, otherwise known as magic internet money, is little more than a minor hobby to me; I know some people rely on it to augment their incomes in the present time and some look to future benefits and few have been set up for life because of it, but to me it's not all that important; this isn't because I'm financially wealthy although I'm certainly comfortable in that regard due to a lifetime of making the right financial decisions, multiple investments and hard work. If crypto-currency ceased to be from one second to the next it would not impact my financial position at all and it's that which I was thinking about...the fact that so many rely on it for income day to day. I wonder what may happen to those people should it all go belly up (die).
Take Hive for instance, a bunch of people scrambling for a few cents here and there to augment their every day lives.
What if it stopped? What did they do before Hive and could they go back to it? Are they making wise financial decisions and reinvesting or living from hand to mouth? Are they looking externally for opportunities or putting all their eggs in the Hive/crypto basket and hoping it never ends? Are they working hard in other areas towards their financial situation...or just hoping.
I've not spent any of my crypto-currency other than $100AUD some years ago to test that my crypto.com VISA card worked online, at an ATM and in-store - It did. I have vastly more than that though and I'm content to leave it where it is because I just don't need it, and it's a little enjoyable to trade now and then. I know many do use it in the moment though, all those folks powering down their rewards all the time, but I wonder if any of them are taking their 'free magic internet money' and reinvesting, diversifying and working ahead for their future - It's a massive opportunity to get some solid gains down the track in the real world.
For those that are not I think...what the fucken fuckety fucking hell?
Any thoughts? If you have please free to comment below. As always, I'll be rewarding comments with 'free magic internet money' and will respond of course.
Design and create your ideal life, tomorrow isn't promised - galenkp
[Original and AI free]
Image(s) in this post are my own
Possibly, if cryptocurrencies were to die, nothing would happen, we will continue with our traditional lives and jobs, certainly many people live 100% on cryptocurrencies and I understand the concern of many people, but the world of cryptocurrencies is so unpredictable that one day it can be sky high and another day it can be in the abyss. But I especially believe that cryptocurrencies will be the currencies of the future.
Only time will tell what crypto-currency will be of becomes in the future. I've lived long enough to know that what is, may not always be, and so I diversify - It's worked for my whole life and I think I'll stick to it.
Yeah. It looks like Germany is selling off Billions worth of stolen Bitcoin, but people like Blackrock 🇺🇸 are just buying it all up. I try to buy a little on these big dips. I’d like to have some for my kids and grand kids. Crypto is a fun hobby, especially blogging here on Hive …. But I would hate to rely on it for actual income. Have a great weekend.
Hey there, I read about that and other crypto nutbaggery and am not surprised...money seems to bring out the worst in people I guess.
Having said that, I like your plan for the kids and theirs when they come along and if a little free magic internet money assists in that plan then happy days. What I don't understand is when people see it as money they can waste when in truth it's such a good opportunity to use in ways that can/may enhance one's future at the same time as improving the present. It's about balance I guess.
Fun hobby? Yeah I'll agree with that...it's when it becomes a job when it may lose its appeal and when losses begin to take a toll on a person relying on it.
Thanks for your comment - with my choice of title I wasn't sure if people would avoid my post altogether. Lol.
Have a good weekend.
While reading your lines I saw myself reflected in part of them, HIVE has helped me a lot financially since I arrived 4 years ago, the current economy of my country is anything but good, but for some time I have felt the need to look for something more to get some money to start with something else, in addition to my current job and as you say not to leave all my eggs in one basket, because if HIVE disappeared from one moment to the other I would be like a baseball player in the middle of two bases (caught).
So I'm working on it, analyzing and looking for the best cards to take the first steps.
It's great to hear you're working on it and I see it as a responsible thing to do...I know things can be difficult for some in other countries and in truth things are difficult here too, Australia is a very costly country in which to live, and that makes it more important that a person diversifies, seeks multiple solutions and not rely on Hive income for instance, something that can all cease to be in a moment.
Well done for thinking differently and I wish you all the best with it.
All I can say is that, I'm relate to everything you said.😊 I have a full time job in a government and it not affect me about too much about the price. In fact, I take it as an opportunity to practice trading.😄
I thought Hive is just blogging and earning but as I explore more, it is part of crypto.
The price of Hive is not a 100% concern for me, I'm just hoping that it will remain in a long time. 😊
It's good that you don't rely on it as it may all end up crashing in a heap and if a person was relying on the income...well, it's probably not go so well.
True.. If that's the case, it seems that they've trusted very well about the magic money when in the first place these magic money is not theirs to begin with. Am I right?
Well, I guess it actually is theirs, what's important to remember is that it might not always hold value.
Oh.. thank you for the learning. 😊 Gonna put it in mind.😊
The price is crap right now for sure. It's been WAY better and some worse too. Last time it went to "worse" it stayed there a long time.
I don't depend on Hive either. Still, I did think that one day, if I wanted or needed to, I could take it out. Being in the US, that is not a guarantee anymore. I didn't expect to make a fortune here and I don't post while looking at the value, but still, since I was supposed to make something along the way for my efforts, it would be nice for it to be worth a little something.
I am like you in that, if it disappeared today, it would not affect my life here.
Yeah, I remember that with distaste. Lol.
I'm with you on the Hive thing, I'd like it all to work out for me and others and have added in other cryptos as well but no one really knows what the future holds. I guess we all just need to work for it and hope things pan out huh?
Not that it's my place to be concerned, but I think of all those who have defaulted to using their Hive rewards to sustain their lives, some have done so at the expense of doing real-world things to sustain life, and I think that could end badly...maybe even as badly as Joe Biden in a debate. Lol.
ha ha.... poor old demented Joe..... our fearless leader ! My eyes won't even roll THAT far!
Hive, like many other things is a total gamble. It doesn't usually end well to totally depend on a constant gamble for a living.
What a joke Jace, I mean I don't really like how politicians behave, their agendas, ethos, manipulations, hubris, greed and so on...But Joe Biden...it's bonkers the country calls him President. 😟
Well.... we, like everyone else know he is not the one/s running the show and we can only guess those involved behind the scenes that have made the treasonous decisions in his name that are working to take this country to it's knees. It's amazingly sad and yet, what does one do? I wish I had a good answer.
I know there is MUCH hate for Trump and it appears that many people would rather vote for "the unknown" leader/s, than to vote Trump in instead. Unfortunately, the "unknowns" have done a lot of damage and it is so dangerous for that to continue. I realize they would need to be voting for the lesser of the evils, but I've done that nearly ALL my voting life ! People need to look at the bigger picture and stop letting blind hate for one person, make them be stoopid.
I agree, completely. people are so influenced by the media and if they hear something enough it becomes their reality I guess.
We once had a federal election here where one party focused on the fact the leader of the other (the Prime Minister Tony Abbott) had worn Speedo's (called "budgie smugglers here for obvious reasons) while he was competing in a triathlon - how dare he dress in anything but a suit! Seriously, speedos, like everyone else in the triathlon! The population caught on and it became a big negative. I mean seriously, how dumb can people be? Well, really dumb is the answer I guess.
It's a popularity contest mainly as most every day people don't have much of a clue on how the policies will effect them moving forward.
"how dumb can people be?"
WAY more dumb that you or I could dream.
The current Washington Mafia and their ability to control the news outlets ..... I call it the Gaslighting of America. So many things are so made up and yet they keep spewing it and then a good number of people drink the Kool-Aid. The lies are so obvious and yet they just keep on coming. It's really terrible..... and sad at the same time.
It's a challenging time for America and I think the losers will be the population...a sad fact.
There's so many things wrong, so much discord and greed, lies, misperceptions and agendas that play into the hands of the puppet masters at the top...a way forward? Yeah of course...but will it be taken? Nope, I doubt it. The same old story and so it goes...and the ripple effects will touch the rest of the world.
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Too busy outside in the material plane. But things have been different and I had half a year when withdrawing did help to stabilize things. I was looking for a way for that to stop, though, and it did. The need to withdraw has been eliminated.
Missed opportunity... that is another matter.
Sometimes a step back allows us to take more confident steps forward in the future, I've found it that way anyway. It's good to hear you've progressed. As for missed opportunities...I've missed many, but each missed opportunity taught me something and that's worked to my advantage.
Thanks for commenting, good to hear from you.
I'm lucky to have a good job and crypto has always been more of a hobby for me. Those who are living off crypto are either lucky, clueless, or insane. Okay, maybe a few other possibilities too!
Yep, that's the legit way to go about it I think. Takes the pressure off and brings the opportunity for better decisions I'd say.
Probably mostly the last two.
Crypto has the same cycles as the stock market. It's not a matter of ignorance. You need to buy and sell good crypto coins on time. For example, now is the time for HBD and 20% per annum. And at the bottom of the bear market, you will need to buy good crypto coins at several times cheaper than now.
It seems this is an effect of the Mt. Gox repaying people. From what I've read, Mt. Gox went bankrupt in 2014 and has recently been giving their creditors BTC and BCH back. BTC was worth 600 USD back then, and is worth 54k USD now. So a lot of those that were paid are selling some or all of it. This led to the slight drop of BTC price, and when BTC drops, alts follow. I think it is just a fire sale to get more Hive though haha.
All I know for sure is when the price is low my motivation to buy is high; it seems like a good strategy....and yeah, I've got some Hive in times such as these, again, it seems like a good way to go.
I haven't spent a single dollar from my bank account in 8 years. I've lived off cryptocurrencies these years. And I hope to increase my capital in the next bull cycle, but for now I will wait for ETH for $400-800 and make purchases there. It's too early to buy HIVE right now. Maybe around $0.05.
You've got it all worked out. Hurrah!
I only have invested 245(?) in crypto(Hive) probably a few years ago. That was the only time I used an exchange. I have not put all my money into Hive but if it would fail/die that would be a shame because I think that Hive has greater potential to give me a financial freedom than my paintings. Few days ago I sent the custom painting to a person who ordered it. But she still has not taken it from the post so I am still not sure if she will not demand to return money. For about a week I have been signed up in Artmajeur online gallery. During that time my works got a little over 500 views but so far that has not translated to sales. I am even thinking about spending some money to buy platinum plan because apparently that would give my art bigger audience...
Hopefully the platinum plan works out, it would be good to hear from you that some sales have been made.
Do you have a job as well?
Both me and my mother are disabled. We both have schizophrenia. So I only have Hive and my paintings.
Ah ok, that's not a nice situation however you seem to manage it well from what I see anyway. Keep on pushing.
Thank you very much.
I swear half the people in this space will go and plant an oak sapling on Tuesday, then run out and hang a tyre swing on it on Friday.
Yeah, sort of what I was alluding to I guess and how people burn through their rewards buying things they don't need with no mind to the future...seems a bit bonkers.
You and your titles sometimes. Don't ever change. 🙃
Becca 🌷
I've no plans to change although time might have other plans in store I guess.
The title...well, I do that because I can I guess. #freedom
Hi Galen, until I did not know platforms like Hive, I was not aware of how important is for many people the income generated on the web 3, some of those people I know and when Hive's price drops it leaves me worried. For my part, yesterday I bought a few (very few) Hive taking advantage of the market drop.
Best regards.
It all seems so great when the "money" is flowing but as you say, those who are living off it would be in trouble if it stops, especially if they're not making any efforts to build financial security in other ways. Living off Hive at such paltry prices seems crazy. I remember when it was much much higher and I think it'll go there again at which point those spending it now will which they hung onto it.
From what I know there are people for whom Hive is a help, but for others it is life. For my part I continue to trust Hive, and I also believe that the value will go up, the question is how long it may take to recover what has been lost. And here I am again concerned about people whose lives depend on the value of Hive. I also think that the drop in the value of cryptocurrencies should be a lesson not to forget. We should not bet our whole life on a single number.
I wonder what they did before Hive.
Remember the global financial crisis in 2007-2009? It broke many people who had put their finances into one particular thing, and even when they diversified as well. In respect of Hive/crypto, I understand how people come to rely on it, but I don't think it's a good idea.
I remember it very well, he caught me with an apartment recently bought at a high price and which a few months later was worthless. As it was not a speculative purchase nothing happened, after 20 years I recovered the purchase value. But I also remember some family members and friends who really had a hard time investing more than they could and suddenly found themselves almost ruined. I think that many young people in Hive lack this kind of experience, and for some reason they think that everything is going to be fine, always. That life is there to serve them what they want at any time, and without trying much better.
Yeah, the foolishness of youth or inexperience I guess. The concern here is that people seem to have lost their ability to learn these days, want instant gratification and daily to see past their immediate needs. They'll learn though, the hard way.
So many people were ruined in the GFC, it was a terrible time and I know people who are yet to fully recover, some never did or will. Sadly, I think we're on the way to these troubling times again and people are even less prepared than they were back then. People will find out just how bad things will get in time...I've been preparing for it for years.
It's good to hear you were able to recover but 20 years, and I reckon a lot of hard work too huh?
The truth is that the little I may have is earned with a lot of effort and without anyone's help, which fills me with pride. I rectified a youth thrown away by working during the day and studying at night. And, I see with sadness, that as you rightly say, there are people who are going to learn their lesson the hard way. And I am not very optimistic about the times to come.
You set a good example for others to follow and yet how many would? The fact you're proud of your efforts is a good thing, you deserve to be.
Thank you very much Galen, my life is full of mistakes. But I have also shown myself to have the capacity to fight and the will to rectify. I think this is related to the values I learned from my family. I thank you again for your words, thank you very much.
I've made mistakes too, and will again, but people like you and I learn from them and that's what counts.
In this I am in total agreement.
For me crypto is just a side thing. I buy a little here and there and still on the fence if it will ever become a widely accepted. MOst people I talk to still think it is a scam. As for making the right decisions, investing, and diversifying, I as able to do that and it paid off. When I had to medically retire, we were set. we are not rich, not even close, but we are comfortable.
I believe the right approach is to see it as a hobby rather than something to be relied upon; hope is a good thing, but action often moves things towards better outcomes as you well know.
I like your comment, we're not rich, as it speaks of humility but also I like how you worked towards putting yourself into your current position and that it worked out for you. I think a person's 'wealth' can be measured in more ways than just financially.
Perhaps this moment is bad for trading, but good times will come. Hive has dropped in price which is sad. Has it become difficult to invest in hive from usa, the price may decrease due to this
Good times are sure to come, I work towards that and so know I'll make them happen; only time will tell if the same could be said about crypto.
I know a lot of people who live on Hive and I am really worried about those people, because at the moment their income is reduced. In many cases they have reinvested and are doing well but in other cases they are not.
In my case I like to diversify and try opportunities and Hive has given me that as well as exploring things that I like to do and without looking for it Hive has opened other doors that I did not expect and I was able to set new goals, projects and diversify again. I haven't taken out a single coin since I started but rather I see it as an extra investment and opportunity.
I know everything looks bad now, but I don't think it will stay that way. I am optimistic... but it is true that anything can happen in this market.
I have earned on another platform a few years ago, that I reinvested and tripled. Life has taught me not to bet on just one thing. I made a lot of mistakes, and serious ones, but I learnt and I came out stronger!
Each to their own I guess...but I'm of the opinion that those spending Hive now will regret it later when the price goes up and they have none saved to take advantage.
I totally agree with you! Very much in agreement. I hope those people can hold on and not sell. If these people have projects I hope they can realise them.
I guess I am fortunate enough that I don't rely on cryptos or Hive to sustain my lifestyle. To me, it's just another type of investment, no different from bonds, stocks, even gold, and as the saying goes, only invest what you can afford to lose. Not too concerned about the current volatility - we all know crypto (prices) are a rollercoaster.
Yeah, it goes up and down and it's best not to get too worried when it's the latter, a good time to make some gains.
The markets are down at the moment... downward trends... trend created when there are transactions... transactions still mean that cash/value was exchanged... this means someone is buying what others are selling... but at a better price... its done this before...
I suppose it is not nice if this stresses a person out.
Yeah, not nice but I think it's not a smart strategy to have all one's eggs in the one basket, diversity minimises risk and stress.
Absolutely. And the more money you have, the more diversity you need and the safer you are.
Conversely, if you don't have much money, then just pick something that is fairly safe and keep stacking until the right moment. I think that is all a person can do in this case.
Well said indeed.
I haven't put a penny of fiat into crypto. Whatever happens here is pure gravy for me, and I am willing to ride out the roller coaster. Long term, I have no faith in government funny money. Bitcoin and established projects like HIVE aren't likely to go anywhere. We aren't tied to geography or any political regime. But the dips are still annoying, whether we're seeing whales manipulate the market or bureaucrats trying to regulate/criminalize it.
Do you have a plan around the tax liability?
Plead the 5th and raise two middle fingers counts as a plan, right?
Oh yeah, it works for the politicians.
My 4k of crypto is at about 50%
I ✓ it from time to time. But not daily.
It's good to have a look now and then but obsessing about it could become a problem I think.
Got into crypto in early 2021, with a full-time job I do, with money that I didn't really need for my life (it wouldn't destroy me if I lost it). Since then I rarely traded, sometimes bought/sold something small... I now use this drop to buy for a small $ those Alt coins that I bought at higher prices, for example, a little Hive, which at the beginning of my Hive journey I paid about 0.45-0.50 $.
I look at every jump and fall as an opportunity to increase the amount of coins, still without the idea of extracting that "internet" money into Fiat.
If we survive, my "internet money" and I will spend it as a pensioner, when my salary stops and I am sentenced to money from the pension fund.
It's good not to rely on it but that doesn't mean one can't hope it helps after retirement from the workforce right? I'm hoping miner will come to have some meaning by then but at the moment it's not something I put much effort into.
Time will show.
I hope it will bring me value in the future...
That part of my "internet" money is now "sleeping" on Trezor One behind a key with 24 words, it is not interested in waves, no matter how insignificant or high they are.
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