Do you have the time?
After my very early morning delivery for China, I rushed off to blood tests to prep for my treatment tomorrow and then back home for 4 hours more of back to back training sessions. Soon, it will be to go and get the lights that will go into our entry so that the electrician can put them in tomorrow and then back home to have a look at what we can do about the strip lighting upstairs, which looks great from a distance, but highlights how uneven the walls are. I will probably have to skim them fully and sand them back, which means repainting the top coat of paint in those rooms. Doh! It looks like I know what will be happening this weekend.
Since I have been training all day, I haven't really had a look at the markets, other than seeing the massive dip in BTC which drove all the alts down also. I am sure there are a lot of people giving reasons for this, but most likely - it is just a little more manipulation to shake weak hands.
This is how I see it, though I am one of the late breakers and will hodl all the way down if I must. One of the reason for this approach is that I just don't have the time in my life at the moment to keep an eye on everything, so I just let it ride. Another reason is that I am a little trigger shy in some respects, as I know what I bought some of these things for and, it was a lot further up the ladder than it is now.
I sometimes wonder what it would take to live off what I have and would I be able to survive day trading - I don't think so from an emotional perspective - but how much would I need to cover my monthly costs? I would suspect, a fair bit more than I have now, considering that I would have to return something like 4-5K euros in gains each and every month. I am a fair way off being able to do that, unless I am very good at picking winners, which I am not.
In regards to Hive earning, that is a different story, but I wouldn't be able to rely on content earnings pretty much at all, as while they are somewhat reliable now, that can change at any time and I am not entitled to any of it. Curation return is different however, as while not quite entitled, having stake means I the curation return is more stable, even though the price is volatile. In order to cover monthly costs from curation, I think the prices would have to be around a steady 4 to 5 dollars. I think we are a fair way off that price being steady.
It is definitely not impossible however, and a 5 dollar price would put the Hive cap around 2 billion dollars worth, which is actually not that much if you consider how many people are potentially involved at that price. I was trying to give some perspective to a colleague the other day about how small the crypto market currently is, as even with the latest run on bitcoin, the entire crypto holdings are worth 500 billion, which makes it 1/12th the size of the largest managed fund in the world. That is just one fund.
When people talk about how Bitcoin can't possibly go "that high", they really don't seem to have an understanding of the value that is floating around. This also means that when they say "it is too late to get in", they also don't realize how far it could go if there was a run from the investment institutions. 20K bitcoin seems high, but it isn't compared to 40K Bitcoin, which isn't compared to 200K Bitcoin. Remember that if the total market is 500B and it went 10x in total, it would still be a trillion dollars shy of the largest investment fund in the world. That is, the shortfall of a trillion after going 10x, is 2x up from where it is now. Meaning, the difference is 34K dollar bitcoin and a doubling of all the rest too.
Pretty incredible, right?
It really is hard to imagine what all of what this means if it was to get pushed, which I think it is going to be in the coming year or two. This also means that a dip like today can shake a few additional BTC out of the hands of the fearful and into the hands of those who are saying - yeah - 34K, 100K, 1M is in the cards - it is just a matter of time.
"Excuse me - Do you have the time?"
Taraz [ Gen1: Hive ]
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