It's Saturday - time for my weekly #saturdaysavers update !
Image created by AI in NightCafe Studio
Here's my table of progress for the week;
How Did The Week Go ?
Overview
This was mostly a week that was mind-numbingly average. Perfect ! I'm still having to focus most of my energy on real world things, but have still put enough effort in on Hive to keep things ticking over.
Despite a few days where I totally had writers' block, I was able to keep up my posting goal of one a day - it's just that I've been having days where I write nothing, and other days when I've done two or three posts !
I'm still able to keep up with curation, and if anything that's what I do for relaxation; I love reading all the different things people post here 😀 I just wish I had more vote power to use.....
Tribe Tokens
I've finally realised that I'm spending far, far too much time staking, unstaking, delegating and trading tribe tokens in small values. While I love the idea of the Tribe Tokens, too many of them are just not holding their value.
So I'm now actively selling out of all except for maybe 7 or 8 that I want to keep going. The top ones are LEO and EDS - they are project I'm comfortable are worthwhile. There are a few others I'm keeping for various reasons, but I'm aiming to turn the rest into SWAP.HIVE using the Dustseller in hivegadgets.com (to hopefully get a slightly better price than if I sell them manually).
Once I've turned tokens I don't want into SWAP.HIVE, the plan is then to use that to buy LEO to help get to the LPUD threshold of 150 and reduce the amount of liquid HIVE I have to transfer into Hive Engine.
And yes, it's LPUD in two days time ! I'm ready......
Thoughts On Yesterday's Dip
Pretty much everything crypto dipped hard yesterday, including HIVE. At the same time, gold briefly spiked to an all time high before falling back a little. The price of GBP dropped against the dollar by 2 cents, while remaining stable against the Euro, which tells me that it was a dollar issue not a EUR or GBP one !
In looking at the causes, I'm sure there is a lot of trading by legacy financiers holding crypto (particularly BTC), but they are just doing what they have always done, and altcoins are just following the trend.
The real cause, and the reason legacy financiers are reacting in their standard way, is down to geo-political uncertainty rather than pure financial manipulation. Traditionally this causes investors to fly to assets perceived as "safe", particularly gold and US dollars.
There was strong concern that following the Israeli strike on the Iranian embassy in Syria that Iran would respond with a major attack rather than just another step up the escalation ladder. If they do it, the most likely time is on a Friday, the Jewish Sabbath.
Combined with this, we saw an escalation in Ukraine, where Ukrainian strikes on Russian oil facilities were met with massive strikes on the Ukrainian power grid and fuel storage facilities, including some at Stryi where Ukraine may have been storing gas on behalf of their EU backers.
It's possible that both of these separate but intertwined geopolitical crises will cause crude oil to increase in price, which of course is wonderful news if you're a legacy finance speculator, and may explain why they'd want to pull some funds out of crypto.
But I believe crypto isn't going anywhere. It is becoming too useful, and too many crypto features are becoming part of daily life (even if hidden from non-crypto people). The BRICS nations are showing an interest in crypto solutions as a part of their overall effort to de-dollarise.
So this is all just temporary volatility, and a good opportunity to stack if you've got any fiat funds spare - always following the mantra of "don't invest more than you can afford to lose", of course.
If you're not familiar with SaturdaySavers, it's a fabulous initiative run by @shanibeer writing as @sally-saver on the @eddie-earner account, where we all support each other in getting to our savings goals.
If you are one of my friends reading this (or just someone who tripped over one of my posts), I really recommend this as a great community that's well worth joining.
I'm normally very disorganised about saving, and the support of the wonderful people in #saturdaysavers has been invaluable in keeping me focused. I can honestly say that without it, my HP would probably be half what it is now.
So join ! You don't have to wait until the start of the year. The best time to start saving is ten years ago. The second best time is right now !
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