Adding To The Stake
When I saw on Binance the price of HIVE was nearing 800 sats in the weeks before HIVE Power Up Day, I was in a bit of shock but not ultimately phased as I went ahead and bought up about 3k HIVE. At the time, withdrawals and deposits were suspended but all in all, it took about 2-3 weeks for them to sort it and then managed to withdraw in time for PUD!
A day or two after PUD, I'm just casually browsing through Blockfolio and out of interest, seeing what prices on other exchanges were like and OH MY WORD - 650 sats / 6 pence per HIVE on Huobi are you kidding?! It seems that when deposits and withdrawals are suspended due to upgrading wallets to match the latest version, prices become super suppressed. I couldn't help myself so I just offloaded some more filthy fiat and set some buy orders between 600-640 sats and about 4 hours later, they got filled.
If you need the money, fair enough but even when I was on STEEM for that 2 year period, these prices weren't as low. I ended up buying about 30k worth of STEEM between 9-13p per STEEM but now, with HIVE, the range I've bought in at is now between 6-9p per HIVE.
No complaints from me as I like the compound effect of staking and the associated benefits with it. Plus you can use the HIVE to trade on related dapps, community tokens (like I've also been doing). Even if HIVE goes down more, you can earn it back through a myriad of ways so I feel like I won't be losing out. However, even if it goes up to 1300 sats from here, that's double what it is now which is not really an unfeasible situation - this is my thinking anyway.
Transition Period
A lot of changes have happened under the hood with the last HF and I've heard from other Leo users that apparently there's still more "garbage code" inherited from STEEM to sort out although I don't know what it is exactly. The Hive developers are reshaping everything from the ground up and I think the emphasis now is going to be on making the underlying technology as slick as possible for other applications to build on top of.
Personally, I think the underlying/core layer is going to be optimised and will likely be marketed (assuming a marketing team will be employed from the DAO Fund) as a place for developers/companies to build applications on, like we see with PeakD, Dapplr, Actifit, Leo and so on. Then it's up to these companies to market their own product to the end user, which we're already seeing.
Things are still being built and developed of course, it's only 7 months old is HIVE. However, I was excited to read from Blocktrades that the changes they are looking into right now (and for the next HF 25) will mean that any future upgrades to the underlying tech will NOT require future hard forks, which is pretty huge really. It will mean that upgrades can happen without disruption to trading - that sounds promising!
As for the future use of the HIVE token itself - some think it will be a utility token eventually for witness and proposal voting along with RC pools that can be loaned out to companies wanting to build on HIVE, with the rewards pool moving off the underlying layer. That will probably be the likely scenario, with rewards for content creation etc moving to the community or Hive-Engine tokens on the so-called "2nd layer", for example crypto/finance related LEO token on LeoFinance.
But what do I know? I'm just a good looking chap who occasionally makes Drum & Bass music 😆 All I do know is, it's cheap to buy HIVE and I'm looking to build my positions here and on the community tokens around Hive-Engine.
Is anyone else here a Looney Tune and buying up HIVE? How do you think things will shape up here? Let me know in the comments below!
Nicky