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Is Investing in DCity Undermining the Price of Hive?

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@revise.leo
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2 min read

I've held off posting about this as I know there are lot of Dcity fans on Leo, I don't like singling people out and also because it's everyone's right to do what they want with their Hive and I'm sure there are accounts creating more sell pressure, but I've got to ask the question:

Is investing in Dcity undermining the price of Hive?

Below are @gerbers transfers of Hive to exchanges....around 60K a month/ 750 000 a year, around $100 000 per annum at current prices, quite the sell pressure!

While he doesn't maintain an huge Hive stake....

I can't bring myself to invest in the game because I can't get my head around being rewarded in Hive while the guy rewarding me with it is creating sell pressure for the token he rewards me in by selling so much of it!

And it's the very token that secures the network on which your DCity NFTs are held on too!

Swapping Hive-Engine NFTs for Hive while the guy printing the NFTs is selling Hive, which secures the network the NFTs are held on, not for me!

Compare this to the huge amount of Hive held by Leo and Splinterlands for example, and most of the T20 witnesses. It's that hold of significant amounts of 'security tokens' if you like that gives me the faith to invest in them.

(NB as point of fact I don't vote T20 witnesses who don't have a significant stake in the platform either).

Actually I don't feel bad pointing this out, it's all on the chain as a matter of record and I fully support the right of anyone to sell their Hive if they so choose and when they choose to do so, but I just can't personally support a project that's generating so much sell pressure.

If @gerber was holding a bit more Hive I'd have a bit more faith in the game!

Maybe I'm being too purist, so post your perspectives in the comments and convince me this doesn't matter!

Or convince me it's actually a positive thing!

Am I just way out of touch kind of thinking that it's a kind of 'duty' to hold Hive Power?

NB I think that because the memory of Justin Sun is still pretty raw, and the only way to prevent that happening again is for all of us to hold Hive, not sell it.

Or maybe I'm wrong about that too?

It's quite possible. Perhaps we're now heading towards a situation where the 'Tribes' and 'Dapps' are independent of Hive, but it's just that we're not there yet, are we?!?

NB I've tried to phrase this so it isn't an attack on anyone investing in DCity, so please don't get too acerbic in the comments!

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