Cleaning dust, UBI, and Post fork era

So I woke up this money and checked my Hive-engine wallet, then realised I was $100 richer. I like this kind of surprise, particularly because $100 is an amount that I'm trying to squeeze out because of the new house we're relocating to.

So it turns out the asset that had grown rapidly in value is some random token called BTCMYK in my dex wallet. I checked the trading activities to figure out if I could get some profit out and the "pump" turned out to be some bogus dust trade.

There's literally no trading activity in the charts to observe and so I checked the order books and found something interesting.

Turns out it was one of those bullshit trades that lead to a rapid rise in the value of a token that is otherwise useless. I'm still not sure why anyone would even bother doing this type of shit but my best guess is that it is to generate artificial FOMO.

For what it's worth, I have no clue where or how I got this token in the first place, and I have no connection with the project right now. Perhaps someone reading this might know something I don't but right now, all I want to do is either dump or burn the token.

I chose to dump and let go of 60 of the tokens for 0.06 hive and it feels weird. The market value of the token fell by only 20% after my action, so at least I didn't hurt them too much.

I actually checked

It turns out BTCMYK actually has a front end and a project. I can't confirm or deny the legitimacy of the project but I can tell you that it has something to do with universal basic income.

I don't know which people are actually invested in the program but my advice is that if you're looking for a UBI scheme to join, then you should consider Dhedge, LBI, Bro, and Cublife.

There might be others out there but at the time of writing, these are the ones that I'm very sure of. Thanks to my small investment in these tokens, I could sleep all week and I'll still have spare cash to buy alcohol.

Did you see that pump?

Other than the fake pump on Hive engine, there has been a real pump with real volume recently for Hive. I checked the market and it seems like we're swimming ever so closely to $0.4.

I don't want to jinx it with all the talk about bull or bear market, but it certainly does make for good viewing. I'm assuming the price of rise simply represents excitement from the changes due to the hardfork.

Speaking of the changes due to the fork, this feature that enables users to convert Hive to HBD is going to be plenty of fun. If it works exactly in reverse, then this gives everyone the opportunity to "trap value" at certain points in the market.

The ability to convert Hive to HBD also ensures that there will be more value kept in the network, and reduced supply to exchanges. In fact, with peer-to-peer solutions like @airhawk-exchange, we might not even have to remove value from within, since all transactions are kept on-chain.

If we can use this method to somehow achieve stability in the price of HBD, then I'll take that as a victory. This will come in handy in the near future, when Hive loans and other DeFi products start rolling out on Hive blockchain.

I'm quite optimistic about the future of this community and I'm glad that I could be on this ride with everyone. The dev work is progressing nicely and barring any disaster, I think we'll have a well-formed ecosystem in the coming months.

Always remember that it is a marathon and not a sprint. May the odds be in your favour.

Cleaning dust, UBI, and Post fork era

I actually checked

Did you see that pump?

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