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I Power Up, Therefore I Am

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Cesc0410
@chekohler
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So 01 November is here, and it's time to power up my account, I haven't been partaking in HPUD in recent months, but with prices at all-time lows, you really don't have much of a reason not to power up. While I did buy-in at $0.113, I didn't go too crazy because I have a few buy orders sitting at lower prices.

Looking at the order book for Binance and Bittrex, there is very little resistance at the 11 cent level and like $6000 of continued selling and you would break down below 10 cents. It doesn't look like there's a slow down of sellers right now, so I'm feeling confident that my buy orders will be filled.

HIVE peeps tend to be willing to sell at any price.

No shortage or sellers

I don't see a shortage of sellers, if you look at the order book while they are not big amounts HIVE users tend to constantly be minting tokens to sell on the open market for next to nothing.

I don't mind as it makes it easier to build up my stake, earn additional staking rewards, curation rewards and reduce the potential losses, it does have me wondering how long it will be before net sellers become net buyers again.

We know STEEM peeps are dumping HIVE, we know BLURT peeps are dumping HIVE, but this can't go on forever eventually these people run out of stake and will be committed to their chain.

I also think that a lot of authors also just mint coins to sell them immediately and bag fiat which is why you see so many small order of 30 HIVE here or 80 HIVE here.

As the inflation decreases each year it's going to get a little harder for these authors to post, mint and dump so I don't mind picking it up from them at cheap rates now.

My power-up

I powered up 400 HIVE today, at current staking rewards that nets me another 12 HIVE per year as well as an extra 72 HIVE per year in curation rewards if my current curation returns are maintained.

I'm now sitting on 14,745.997 HP.

Why I am also keen to power up is because I feel HIVE prices are being suppressed and should be sitting around $0.20 all things considered so anything I invested now I feel should be worth almost double should the selling eventually dry up.

Have your say

What do you good people of HIVE think?

So have at it my Jessies! If you don't have something to comment, comment "I am a Jessie."

Let's connect

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