The Subconscious Peg
Greetings, fellow sentient beings!
Have you heard of the Roman legionnaire's pilum? Oh, no, you beasts, I mean the actual weapon. When I wrote Subconscious in the title, I meat something else. We'll come to that.
Oh, come on!
Phrasing! — Sterling Malory Archer from Archer
The pilum, I beg historians and weaponmongers forgive my relative use of terms, was a javelin-like thingie. A spear that could also be thrown as a ranged weapon. A wooden shaft with a metal extension with a pointy pyramidal end. The innovative thing about it was its wooden peg. Yeah, peg, not leg. It's not a pirate, it's a pilum. One of its two pegs was wooden so that on impact with the enemy's shield it would snap. The shaft would hang down at an awkward angle both weighing the shield down as well and rendering the pilum not usable again as a ranged weapon by the enemy.
What's the moral behind all this?
Pegs are designed to snap.
Sometimes by intentional design, sometimes by subconscious divine. Ah, now we're co...
Phrasing!
...getting to the point.
But of course! I am talking about my favorite dCity game and its native token — the SIM. As an example to a general theory ;)
It was kind of pegged to Hive at 0.00500 since you can buy a newly printed NFT for either 800 SIM or 4 Hive. A ratio of 200 to 1. But the game also allows you to gain SIM as income. And it rewards you in Hive, daily if you're in the top 400.
So, when many of us are selling our SIM for Hive, the price of SIM goes down. AS it happened for a second time (I guess this time it's a longer period) in the games and Hive's history. It's around 0.00130 now, way below the peg.
Can you recognize what I shall call The Reverse Pilum Pattern in the graph?
But the upside is, you can now convert your Hive to SIM and buy buildings (the NFTs I spoke of) at about 1 Hive per building instead of 4 Hive. Such much discount!
Why wouldn't you do that?
The reason I am writing all this. The other peg in our minds. The one to USD. First it was Bitcoin's price going up compared to the USD and Hive lagging behind. The price of SIM in Hive dropped down but converting the lower amount of Hive you would get to the same as before (lagging, not further dropping) price of Hive to BTC you would get some small amount of BTC which was now more expensive in terms of USD.
Or...relatively the same amount of USD for your SIM.
Next, Hive shoot up and SIM dropped further in terms of HIVE but try to get it all the way to USD and see what comes out.
Does it still look like a close to 400 % drop?
Next time, we'll get to that and the minor adjustments I was able to make in my build during this period.
Bye now and have a great day!
Yours,
Manol
Posted Using LeoFinance Beta
