RE: What Should You Do During a Mini-Hive Pump?

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RE: What Should You Do During a Mini-Hive Pump?

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gadrian in The City of Neoxian • last year

I believe it's wrong to induce hope in people when you know the outcome. Because they will buy at a pumped-up price and then it will crash and they will blame you, even if not openly. That's why I don't do it. Or maybe I do it at other times because my analysis is wrong. I could have shut up, of course... Maybe I will, next time because I see by reading some posts people had some hopes that were shuttered.

This was not the type of pump that would hold. The only way the price would have held, was if the market started to move up during the P&D (which at some point may have been possible with Bitcoin simulating to go up as HIVE tried to find a floor halfway down).

I also believe, like you, it is kind of stupid to sell HIVE to fiat at these prices, pumped or not, unless you have no other choice. HIVE will reach higher prices by the end of this bull market. I don't believe it will be $10 as some hope, but at least a couple of times the price it is at now. Which makes it a wrong move to sell now and go away.

Regarding the publicity these pumps offer Hive, I half agree. Yes, Hive becomes more visible. And yes, some will look at Hive for the right reasons. But mostly, it will attract other pump-and-dumpers.

As for the connection between the (in)successes of Splinterlands and Hive, I don't buy it. When people are salty, they keep finding reasons to cast blame. And I still see Splinterlands itself experiencing some sort of an end of a bull market (hopefully). While many are lamenting, I see some people are talking about completing their alpha and beta sets at a cheap price. Not everyone thinks from one day to the next, or one month to the next.

While a P&D (a word of caution for anyone reading this: not all pumps are P&D!) can be a small opportunity to sell on the pumpers and then buy back, and thus, make a short-term profit, the most important part is the long-term plan. Small (or even big) short-term gains are in no way a substitute for a proper long-term plan, in my opinion. That's what should prevail.

last year in The City of Neoxian by gadrian

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josediccus last year

Thanks for the amazing comment, a lot of people are thinking it's a pump that's finally here to stay and I made sure to tell them that I think this pump will not last, as we've finally seen.
Hive will majorly attract people for many reasons, most time I hope it does attract people more for the right reasons, people who have plans to grow and establish and play their part. I tend to think Hive is a place where everyone can win while Hive can also simultaneously win, and sometimes we cannot stress enough to people to do the right thing.

I already see a lot of people blaming Hive form what's happening to splinterlands, they think the chain is holding splinterlands and they're tired of waiting for a pump or something like that. Like you've said, I think it's frustration and saltiness, but then sometimes I blame this long bear market as the reason why a lot of people seem to be losing it.

If I had liquid Hive myself, I'd be taking advantage of this. It's very important to actually think big and take opportunities as this rather than just seeing a little pump as an opportunity to sell

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gadrian last year

I already see a lot of people blaming Hive form what's happening to splinterlands, they think the chain is holding splinterlands and they're tired of waiting for a pump or something like that. Like you've said, I think it's frustration and saltiness, but then sometimes I blame this long bear market as the reason why a lot of people seem to be losing it.

Yes, I see them too. But let's not forget 2021, when Splinterlands "went to the moon", regardless of it being on Hive (even tighter than it is now). So Hive doesn't stop Splinterlands from going parabolic. Does it help, though? To be honest, I prefer 100% a game on Hive than on a chain where assets don't move because of the fees, the congestion, or if you have a side-chain only for that game to avoid fees.

But it's a matter of perception. Someone on Solana may trust that ecosystem more than I do, for example, and if Splinterlands were there, they may feel it would go up up up together with all the meme coins.

If I had liquid Hive myself, I'd be taking advantage of this. It's very important to actually think big and take opportunities as this rather than just seeing a little pump as an opportunity to sell

Yep, I lost quite a few of such pumps due to a lack of liquidity. If someone only takes this P&D in isolation and is happy with a little profit, that's indeed small thinking. I see it as a contributor to a snowball effect in the long term. Same as author or curation rewards, for example, only from a different "category".

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