The FOMO is hitting me hard the past 24 hours. I'm talking a Mike Tyson "everyone has a plan 'till they get punched in the mouth" kind of FOMO. It's honestly pretty excruciating. I guess the one silver lining that I could pull from all of this is the fact that it gives me something to blog about right?
I was fairly confident I had made my peace with not owning an SPS Validator Node License. The the announcement comes out that they are starting the drop of right around 8 vouchers per day per license to each holder.
Having just been on the winning end of a voucher flip (you might remember me writing about it last week), the FOMO is rearing its ugly head again and I am starting to second guess myself.
Unfortunately, the age old issue is the same... Funds. It takes a lot of money to buy a node. Where would I pull that from? So here I am at 7:30 AM on a Wednesday morning pouring over all of my crypto holdings trying to figure out where I can pull together the ~$1500 USD required to purchase a license.
HBD?
The obvious option is my HBD savings. I could pull that money out in three days and have a license pretty easily, but dang it if I don't love that 20% interest I am earning on those funds. Plus, I am basically gambling that Splinterlands is going to give a better return than that 20%. That might not be too much of a gamble given the track record of Splinterlands, but still, there is something that makes me hesitant to do it.
The CUB Projects?
What about my CUB and POLYCUB holdings? Sure, I could probably scrape together what I needed there, but then I would be basically wiping myself out. I feel like those are to platforms that are just getting their legs and the future has a lot of potential. Why handicap myself?
Fiat?
This probably seems like it would be a pretty easy one too, but have you seen the price of gas lately? With prices on the rise across the board, I feel like now would be a really bad time to plunder my savings. Plus my wife might not be too keen on it. When I am buying stuff with crypto it is one thing, but when I start using our fiat, it is a whole other story.
Travala?
I probably have enough staked away to cover what I need, but once again, it's a project that I feel is just getting going. There is a ton of potential there especially once people start travelling more and realizing that crypto is indeed the future.
WAX?
I've got a ton of holdings over on WAX that I could maybe sell to get me the money I need. The problem is, come the next bull market any one of them could blow up pretty big. Do I want to take the chance of selling off something at a loss or potential loss? The other issue is, the majority of my WAX is tied up in a delegation that pays me a 73% return annually. I'd once again be gambling on the hope that Splinterlands is going to outperform that rate.
While it is very possible they could surpass that rate, I would also be removing some of my market diversification which I am not sure is a great idea.
What else have you got?
I've honestly got a ton of little pots of crypto here and there that I could scrimp, scrounge, and scrape together to hit the mark I need to buy a license, but I feel like I would lose so much in conversions and fees that in the end I would still be losing no matter how well the licenses do.
What I really wish right now is that I had the $2000 back that I invested in LUNA six months or so ago... Me and everyone else in the world right? :P
HIVE
That brings me back to where it all started... HIVE. I've never powered down. It has never even been an option for me. However now, here I am seriously tossing it around. It wouldn't be too hard to start a big enough power down that gives me the money I need after the first week and then cancel the rest of the power down.
The money would still be staying on the HIVE blockchain, so it isn't like I am a traitor or anything right?
I just don't know if I can do it though. Something feels really wrong about it. Yet the FOMO keeps hounding away at me. Picking, pestering, willing me to find the funds to purchase an SPS node license.
It's maddening! It's first world problems I know, but that doesn't make it any less maddening!
It's funny because as much as this is purely a business decision, it honestly feels like more of a moral one, and I am not sure how to handle that.
How I wish I could go back 13 months and do things differently to position myself better for this. Maybe I will get lucky and the prices of crypto will rebound before all of the licenses in the current tranche are gone.
I don't know.
I've gotta go though, FOMO is feeling neglected while I am writing this!
Sports Talk Social - @bozz.sports
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If you think about it, the only plus side to staking is your upvote and a small percentage APR. I see some accounts powering down all the time. So much so I think the powering down stigma is gone. I also believe that the accounts powering down and using their HP for purchasing things like these validator nodes is probably the most shrewd option. I powered down 14,000 Hive in 2019 to buy Chiliz token at 2 cent a pop and it was my most profitable crypto trade by a country mile. Granted I had to start again on Hive but I'm quite content with my HP tipping away and having the mortgage paid off! I don't think Hive will ever hit the dizzy heights imo but a second layer token will so HP isn't all that important really.
Interesting thoughts. I just can't bring myself to pull that trigger though. I like that passive income. I wouldn't have enough to do what I need if I powered down anyway, so it doesn't really matter.
I have fomo into a lot of projects until I hardly can keep track. I have been trying to trim off most of the projects that I no longer believe in.
That sounds like A smart plan. I need to do that too eventually!
The one thing I still struggle with wax is how to actully earn on it. There are normal staking rewards but they are super low and I can't find any kind of DeFi element to it other then some WaxP that's on Ethereum that I don't want to touch lol
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There are some other DeFi pieces out there. There are also some cpu rental places you can delegate your CPU out and earn from that. I have some in the ETH DeFi too. Check out alcor.exchange. I can't think of the other site right now.
I feel you. That FOMO, when it hits, it hits hard. If Luna hadn't of crashed, I doubt you would have wanted to part with it though as it would still be going well!
Good luck with getting the Node!!
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Yeah, that is a good point about LUNA. I honestly don't think I am going to be able to pull together the funds I need.
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Fingers crossed you manage to pull something out of the bag! Would be cool to see how its working and stuff.
Thanks!
Tough situation to be at. You're certainly on a dilemma :) Hope you will be able to sort out what you would do. Good luck!
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Thanks, I appreciate that!
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Found you on listnerds :)
I've not got SPI into SPS nodes because it's an aggroed thing. Would nice to have just to say we have one but SPI is not active within splinterlands i think it would not get many votes.
If i were you, i have no idea which i would sell first. Maybe contact Neoxian and see if you could secure a loan from him, then pay it back with future HIVE and SPS earnings.
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ps, it's SSUK and i cant upvote the post. sorry :'(
No worries, I totally understand about the upvote. Yeah, I thought about trying to leverage some of my holdings as collateral, but there aren't a ton of places that do that yet. I think they are coming, but still a little ways off.
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The one who takes loans steals from his future, so says a very wise saying)
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That is a great saying, I will keep that in mind!
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I use it)
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Lol are you guys trying to get yourself into debt for this?
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Haha, these first-world problems. That dang nagging FOMO, lol. Good luck with your final decision :)
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I know right! Ugh!
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There is no word for "back" in the Mongolian language, but only the word for "forward", it seems strange, but very wise. If the Mongol tells you that you are going in the wrong direction, then he will say that you need to turn around on your axis and go "forward". Perhaps you don’t need to look at old assets, but go forward, gradually, collecting the required amount, this is just an assumption), but by doing this, you will insure yourself against mistakes, in case of an increase in the price of those assets, and, in case of failure in the idea become a license holder, you have nothing to lose.
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That is a good point. There are still 2500 licenses out there in the current tranche, so unless someone comes along and buys them out, I still have some time.
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I cannot say. that my advice is the best, but, it looks like something natural, like a tree, which gradually increases the root system. without fear that another tree will grow nearby, which will also drink water)
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I might regret later on for not even being interested in owning a license. Seems so many people already have one or are thinking to purchase one as you do.
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I think it is going to pay off down the road. Especially if Splinterlands continues to grow the way it has been.
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You are probably right. :) And I'll be happy for those who hold them. If Splinterlands goes up, my assets/earnings should go up as well.
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For sure! They have a lot of really good stuff possibly happening this year.
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I did get a voucher drops this morning (sorry.. making things worse). The Nodes to me are a permanent extension of the Airdrop which will end soon. Now you need to pay for that daily SPS and VOUCHER, and then get it for life.
Yeah, that is a good point. It is just a matter of getting the funds together. I just don't want to knob myself up on some other project to make this work.
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And what equipment did you talk about in one of the previous posts, isn’t it enough to own a license coin?
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I have heard from some other sources that the hardware requirements aren't going to be that bad. The other cool thing is, they are dropping SPS and vouchers to you just for holding the license, so that is a good thing too.
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This is a good moment, if possible, I will consider buying a license, under such conditions. Simply, I have no idea what equipment and what skills we can talk about. You can buy a hamster and grow a hypopotamus out of problems)
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The fact that they are giving out rewards just for holding the license makes me less concerned than I was about the hardware requirements.
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This fact slightly changes my attitude to this issue, lol. Do you need to calculate everything, how many vouchers and SPS will they give daily for one license? I kind of read something, but I could not understand the daily payments, and there it was about connecting through a nod.
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I hope this information you received is 1000% true. It will be annoying if you end up needing equipment.
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This is a very shaky concept ... for life)
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We all got the FOMO but again it all depends on ho we manage it well. For me the top priority is to have more Hive and HBD and some coins here and there
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Sounds like A smart plan!
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Don't second guess yourself. It does no good. You made the best choice possible with the information you had at the time. Thanks for sharing.
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Thanks for the advice!
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