Probit (a crypto exchange) suddenly announced today they have blocked incoming deposits of BLURT, and in a few days will halt all trading. A few weeks from now, they will seize any BLURT that hasn't been withdrawn, and delist the token "to uphold the quality" of their platform. A community discussion about this has been posted here.
As I wrote yesterday, the price of BLURT has been steadily consolidating recently, and started testing resistance a couple weeks ago. This was accompanied by ongoing weakness in the price of HIVE, which has been struggling for the past year or so.
Today's announcement shocked the community here on Blurt, but has so far not slowed the rotation into our token.
Check out the updated price action on Hive-Engine today - BLURT priced in HIVE is testing the 0.0114 level!
Nominally, the BLURT price is over $0.0026 USD today. Nowhere near all-time highs yet, but strong signs of life. Volume on these trades is high - lots of buyers, big and small. The buyers are in control and unless something changes, it seems likely there will be a test of 0.0115 very soon. This would make the likelihood of a large incoming move quite high.
But wasn't Probit BLURT's only major exchange?
Yes, and that was a foolish policy of the management/insiders which I've been critical about for years. Now, we may all pay the price...
But perhaps more likely is that this will spur management/insiders to create new relationships with exchanges, develop new programs, forge new pathways. After all, they need an outlet to sell off the interest/rewards from their 'legacy' stake, so it's in their best interest to get on this, and fast. Where there's a will, there's a way. Maybe this little hiccup will spur us to make the upgrades we should have made years ago, and soon there will be several ways to buy and sell BLURT?
I've personally never used Probit, only having gone through Hive-engine.com so far. Now Hive-engine is my only exit strategy (other than a private sale which seems unlikely), and that's not personally a great feeling. I put a lot into building up my small holdings of BLURT - literally almost 8 years of full-time effort AND an initial upfront investment of 0.2 BTC. I'm currently holding 1.3m BLURT which is worth a mere $3400 USD. I'm a simple content-creator, not a sophisticated investor or someone with technical understanding. I've got to do what's best for me, and turn that BLURT into something at some point. Tokens are nice, but we aren't really "earning" anything unless we can convert them into something else eventually. I keep hearing that "you can earn on Blurt just for posting your thoughts"... at some point I intend to make that a reality.
What do you think? Should I power down my tokens and hold them liquid to see what happens? After all, you have no options if your tokens are powered up. Except to curate, of course. I've definitely done that. A lot of that. Maybe it's time to stop clicking 10 times a day, and spend more time away from the blockchain? I've felt a bit like its slave for the past 7.5 years. Manual curation is a job. It's a chore. And it's never finished. Doing it right takes time and effort, every day, 365 days a year. But maybe I'd like a break from that.
What's to lose? If I end up powering back up later, all I'll lose is a tiny bit of momentum in BP growth (reduced curation rewards). I'll still get the same post/comment rewards and interest on my 1,300,000. I can't think of any other losses, risks, or drawbacks.
But the potential upsides are huge. If BLURT does what it did 4 years ago, for example, I'll be quite happy:
That's right. Exactly one crypto cycle ago, BLURT was exactly where it is today, then went x20 between August and November 2021.
It takes 1 month to power down once the decision is made, and there's no telling what the price will be then. I've never powered down to hold liquid tokens before, and I've never sold my holdings. I bought a water pump for a Venezuelan neighborhood with HIVE and STEEM tokens a while back, and I bought my family some Ivermectin with tokens as well, but otherwise have just been investing my money, investing my earnings, and powering everything up.
I feel like... either Blurt gets some more exchanges connected (something it should have been working on years ago), or for my own financial safety I'll have to move my holdings to Hive-engine to be sold for other cryptos. I'll likely power down (completely to zero) and hold liquid so I have options. Like I said, I can always just power it back up, almost no harm done. The options, and a potential big win if things go that way, are massive upsides and well worth the tiny loss of momentum. But I'll sleep on it before making my decision. Time is of the essence, as I've noticed during these kinds of events in the past, the first to hit the power down button win. I may already be too late to be ahead of the curve.
It's so awkward. It felt like BLURT was about to finally have its day... after so many years of waiting... and then this announcement comes out. Now it seems like we'll either soar to the heavens, or be dashed to pieces against the rocks, and the moment of truth is fast approaching.
At least things are interesting? ... * weary chuckle *
Here's the 3 month chart of BLURT priced in HIVE:
Pretty uncommon to see charts like that. That tells me something's happening out of the ordinary. This isn't common price action. You only see patterns like that in an outright rotation from one currency to another, and it's really picking up in the past couple weeks. Something's going on... and now TWO something's are going on. We're having our big moment, and we're being delisted by our only exchange, all at once as we head into alt-season craziness.
DRutter
