2018 vs 2020. A horror story...
Very little did I know about crypto, till the very early days of 2018 after 30 days of waiting when I finally received the confirmation e-mail from the Steemit team that my account had been approved. As much as I hate to admit it because of all the events with the hostile takeover...the stolen funds...the hypocrisy, Steem (the technology / community) has been not only my gateway to the rest of the crypto world, but also a place where I was educated regarding various crypto projects that I had no idea they even existed.
Thankfully, 99%+ of those active users have migrated to Hive, so the journey is far from over.
What I can't forget though is BTC cruising at $20.000...ya it was during those days, right in the middle of the previous bull run where BTC was mooning and dragged every single crypto project with it...
BTC: From ~ $4.000 to $20.000 in 3 months. ~ 5x
ETH: From ~ $300 to $1430 in 3 months. ~ 5x
XMR: From ~ $95 to $495 n 3 months. ~5x
STEEM HIVE: From ~ $1 to $8.57 in 3 months. ~ 8x
And that's the tip of the iceberg. Some coins, especially some shitcoins went 20x...or 50x...or 200x...and made some investors really happy and wealthy too. At least those who had nerves of steel and held all the way up...
Being a newcomer during a bull run is a blessing and a curse all at the same time. I didn't know about bull runs...halving events...pump and dumps...I knew nothing. All I knew and all I wanted was to strengthen my position on Steem. Therefore I started buying when everyone else was dumping...
Bought at $4...at $2.8...at $1.6...all the way down to 10 cents...ya...silly me.
Since then a lot have changed. Everything can change in a blink of an eye when it comes to crypto, let alone almost 3 years later.
Hive was born...and all the big names have had a halving event which makes mining far more difficult and expensive.
Long story short, I was looking at my Hive wallet only to realize that I am close to 110K HP. And while it would definitely feel like an achievement back in 2018 and an account like mine would worth close to $500.000 (used $5/per Hive as a reference), nowadays it's worth...a bit less than $15.000 and I got to tell you, it feels weird...
At the same time BTC is roughly 40% down form its ATH, ETH around 70% down from its ATH and the rest is history. Every alt coins is being hammered day after day with few bright exceptions in which Hive is definitely not a part of.
So I was killing my time on the web when I stumbled upon this tool, this crypto converter which is pretty handy and instantly converts any amount of a specific currency to any other currency
All one has to do is fill the amount of tokens they want in the first tab, then the currency and select what currency that amount is equal to.
I had to check Hive...you feel me?
I used 100.000 tokens as a point of reference and kept swinging between BTC...Eth...XMR...and so on and forth.
Curious to see what 100K Hive is equal to? Let's see...
OK...that's depressing...what I've been fighting for, for the past 3 years is equal to 1.06 BTC.
Just so you know...during ATH's 1.06 BTC = $21.000.
100K Hive was worth $850.000. So 100K Hive was 40.48 BTC.
We all know that BTC is the king of them all so let's see how does Hive perform against ETH.
So 100K Hive nowadays = 33.85 ETH... While back in the day...one could trade 100K Hive...wait for it... for 566 ETH. And plz don't start with that same story...that Hive is just 6 months old and blah blah blah...
Also...100K Hive = ~80K LEO...just saying...
With all that being said...there's still room for accumulation...just think that only 1.06 or 34 ETH is required and BANG...you got 100K Hive in your wallet.
Every comparison I've made with the most famous tokens...the result was equally depressing. i see no reason why HIVE shouldn't compete with them...the technology is there...the community is there also...we just need to find the missing piece of the puzzle...
I see all those beautiful things being built on Eth Network...with the ridiculous fees and wonder what would it take to build the same if not better stuff on Hive...
I have a feeling that we still have a long way to go...and if we want to see HIVE thrive at some point, a lot of things need to be done, like marketing which is solely depended on our shillings on Twitter or other social media platforms...
Posted Using LeoFinance Beta
