It wasn't that long ago that I came back to Hive. Not exactly the best of circumstances. I had to sell my Hive due to desperate times.
We all can't HODL forever.
I don't intend to remain a minnow though.
If I'm honest, I have my issues with the way things are here. Not every post should be on the blockchain forever. Sometimes we might want to delete some things later. But is this place any worse than a lot of other social media site? No, I'd say it's a damn sight better. Though it would have been nice if a bit more development had gotten done in the years gone past, and if Hive hadn't died down quite so much.
Long story short, I still want to build my stake in here. I put off selling for as long as I could. I even moved Hive back into my account when I wasn't even active here, rather than sell it, when Kraken dropped Hive from it's lineup.
I was always planning to come back, but I just didn't for a number of reasons. As I said, not everything should be on the chain.
But here I am now, posting daily again, trying to earn back my stake. I plan on buying some back in the near future as well.
Speaking of buying, just the other day I asked about better places to trade here on Hive. As in literally on Hive. I wanted to be able to trade Layer 2 tokens on the Hive blockchain. Part of that is to grow my stake here, but also to get a bit of a few tokens without transferring to my usual exchange. Mostly just for trading back and forth though.
In the comments, @edicted not only helped me with info about the layer 2 exchanges used here now, but also mentioned the internal market Hivedex, which is EXACTLY what I was looking for, when it comes to trading Hive anyway. Sadly they don't have any Layer 2 tokens or anything though, because their interface is rather nice!
Which brings me to today! I finally have my first payout from that first day. A whole 3 HBD! On the one hand I'm not sure I deserve it, because I'm not really proud of having to sell Hive when it's so low, but on the other hand, it always feels like you're gonna get more before the payout actually happens. Whatever. I'm just gonna buy more Hive with it anyway.
The price of Hive is already pretty low, so it wouldn't be bad to just directly convert it at the price it is now. But I also wanna dip my toe in the water of trading. It's not enough where I wanna start trading Layer 2 tokens though. I need to get back some of that Hive I had to sell. More than some of it. I wanted to grow my stake to be much larger. Life just got away with me.
So, I decided to trade that brand new 3 HBD for some Hive on Hivedex!
The HIVE/HBD market on Hivedex
If I'm tbh I don't know for sure if it's the absolute first time I've traded on there. I don't think it was around when I was here last. But I can't remember for sure.
I don't think that Hivedex has a way to draw lines on the chart, but one of the most basic of indicators of where a market may go, or not go, is a resistance line. You can see a somewhat weak one where I put my cursor in the screenshot. While Hive bounced off of it once in July, it broke right through it in August and September.
But I'm not trying to find the market low. I only have $3 HBD in my account right now. And if I'm tbh, I don't know that it's not going to take forever to hit that line again, let alone lower. A lot of market signals are only clear in retrospect and I'm not even trying to read that much into things. I just want to put in a first buy order before I get a bit more to buy with later.
So that's my line.
There are lower lines. If you go back in the chart to July of 21 it hit down to 0.14. I could put a buy there if I wanted to. But I only have $3 HBD right now.
There's also the point where it just tested only a few days ago. I could put in a buy there. But I only have $3 HBD. I don't need to be that safe for a tiny margin.
So I put in a buy just above the line for 15 Hive. Not a whole lot. Leaves me some HBD for my next limit order, and the one after that.
It's an extremely simple buying strategy that doesn't rely much on anything. It's really more betting than anything. Will it test that resistance line again or will it keep going up? I have no clue.
To me it kinda looks like it's gonna test lower than where I put it, but I've been fooled before and it could just do a steady climb from here. I'm not losing out on much if I don't manage to put a buy in for $3 HBD.
It's also a lot safer bet than putting in a buy a lot lower, which I might do if I had more money to play with right now. But I'm not ready to move money into my account just yet. For today, it's just the $3 HBD from my first post back.