A newbie's view of the crash

avatar

brave_Grm3SkoHZa.png


I only got interested in the speculative side of crypto recently but even a newbie such as I can see interesting things in the fallout around Luna's crash.

I see that a stablecoin (such as folks want HBD to be) needs to be backed by several things, not just one and that the idea of backing something volatile with something volatile is only a strategy to take advantage of a peak in the market for the second item. I think we need to investigate algorithmic options to provide stability to HBD, even though HBD isn't the cause of the crash, the Hive ecosystem is being negatively affected and so many of us with it. I can see a time too when we should move away from the blood for oil token of the US too, the USD.

Interestingly too, many, many projects that are based on Luna and its ecosystem are being devalued and even collapsed by the Luna collapse. Is this a way of rationalising the crypto ecology and taking out many small players? After all, from a farmer's point of view, burning a field is the easiest way of taking out weeds. By weeds, of course, I mean any opposition to growth of selected plant crops. You get the picture.

For my small needs, this crash is an opportunity for to grow my blogging status as I, of late, immediately swap any HBD I earn to Hive and therefore Hive Power so that my votes are worth more (more of less - that's ironic) but what is crippling my strategies is that, at the same time as the crash, the folks at Hive Engine have taken the option to swap tokens off of the board. I had a few little farming strategies that I was converting the yield from into Hive but I can't do that at the moment.

I'm both a little worried and a little optimistic at present, as I lost enough in the Justin Sun attack on Steem a while back to turn me totally off of crypto and blogging for it for a couple of years. I came back at a time when things were pretty stable but, as was true for humans in the Holocene, the good times cant last forever.

Bring on the Cthulucene.

Posted Using LeoFinance Beta



0
0
0.000
4 comments
avatar

I didn't realize you lost with Sun... What happened there?

0
0
0.000
avatar

It was the takeover that cause Hive to be born so it had a good result.

0
0
0.000
avatar

..swap any HBD I earn to Hive and therefore Hive Power so that my votes are worth more..

Any rent hive power with HBD?

0
0
0.000
avatar

I'm not aware of it being used for that except maybe liquidity pools but I don't know much about them

0
0
0.000