Yes, yesterday was fun. Hive was one of the best-performing cryptos. It briefly touched $0.78 and is now at about 60 cents.
So many here are wondering When moon?
We all know that Bitcoin’s price is up more than a thousand-fold over the last decade. In the crypto space, 100x can seem almost mundane. We’d love seeing that for Hive. And maybe we will.
But we can do just fine with a lot less.
Stats compiled by @arcange show that there are more than 10,000 accounts of Minnow or above and over 2,000 at Dolphin or above:
For argument’s sake, let’s posit a hypothetical person who’s a big Minnow but not quite a Dolphin, 5k Hive Power or so. Or maybe less HP than that, but with some Hive-Engine tokens added to the mix, so an effective 5k HP.
And let’s assume that over the next not-too-long period of time Hive “only” goes 10x and hits something like $7. Yeah, this person could power down and walk away with the fiat. But say they hodl instead and opt to extract wealth in the form of an income stream. They don’t even post and instead delegate the bulk of their Hive Power. It’s easy to earn 10% on delegations, and a bit more is certainly possible, but let’s go with 10% to keep the math simple. And let’s assume that instead of spiking, falling, spiking, falling, spiking in price, the token semi-stabilizes around $7 or so, again “only” 10x. Our hypothetical account could be tapping into a $300 a month income stream. If the account was owned by someone from a wealthy country, a nice little side hustle. But for someone from a poorer country, a significant boost to their income.
And there are thousands of accounts who’d benefit greatly from such a 10x move.
My Hive and Hive equivalents are something like 10–12 times larger than that so I could theoretically already be tapping into a $300 a month income stream. But I’ve chosen to hodl and simply reinvest what I’m earning. But a price move of “only” 10x would mean the potential for a $3k monthly income stream without powering down.
And this applies to thousands of accounts. Even a relatively small rise in Hive’s price could generate a lot of wealth for folks here, even if they didn’t sell their tokens. A sustained bull market would generate immense wealth, but we don’t even need that moonshot.
Disclaimer: This should not be construed as financial advice. I am not a registered financial advisor; I don’t even play one on TV. Do your own due diligence. Batteries not included. Objects may be larger than they appear in mirror. Some assembly required. Do not taunt Happy Fun Ball.
Photo from Pixabay (Ponciano)