Best Time To Reflect on HODLings .:. Late Night Blogging
It's hard to check your HODLings and see that it is in a stagnate position for the last 7-8 months (or more)... It doesn't go up and it doesn't go down... But, believe me, it's better to see the image like that, than to see your HODLings going down in value, day by day, week by week... But, that image is what I see in my portfolio and it is not the same with YOUR portfolio... Maybe you did a better job than me and your long-term HODLings value went up in the last 7-8 months?
I am aware that we have three types of portfolios... Those that stayed more-less the same (like mine), those that went up in value, and of course, those that lost value in chasing meme tokens, or some new-hype tokens that had no chance to survive this kind of market conditions... As the price of Bitcoin (and HIVE too) is almost at the same level as the year before, I suppose that those that have long-term portfolios "saved" its value are in the majority... On the other side, if your portfolio value dropped a lot, maybe it's a good moment to check your bags...
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Honestly, I have a problem doing these things as I'm still having that "good old" problem of getting emotionally connected to a project or a token... I know that I shouldn't be, but sometimes, it's stronger than me... Luckily, by doing #MyHiveGoals reports, I do reflect on my tokens that I HODL more often, and I do "drop" some bags and break the loop... What loop? The loop when you are trying to "chase" a certain position in the tokens rich list, just to "prove" something to yourself... It has no sense, the token value drops, but you are still "on the mission"...
I know it's hard, but there are ways to "recognize" if there is sense to keep accumulating tokens, or if it's time to stop doing it and move your focus to more valuable things... I had my "wrong moves" in the past with certain tokens, and I will have in the future too, but I learned certain things about how to "let it go"... It's the only way to grow... There are signs... Here on HIVE, many of us HODL a lot of different Hive-Engine tokens and I will try to focus on them this time...
Token centralization
The first thing that you have to understand is that most (if not all) H-E tokens are centralized... The token creator can mint additional tokens, it can change token specifications, and in a nutshell, it can change the "rules of the game" whenever it wants... So, when you pick the token, you are investing not just in the token, but also in the token owner... In the crypto-verse, it sounds completely different that what it is sold for, but it is what it is... We don't have a better solution on the HIVE... Yet...
Token Owners
Now that we understand that, we can't depreciate the importance of the token owners in the future development of the token... If the owner isn't interested in developing its token, why would you be interested in HODLing it?? What kind of future that token has as if there is no development? It can have a good tokenomics, burn mechanism, but in most cases, that's not enough to token survival... So, if a token owner has "more important" things to do, you should move out from it and find yourself a more important token...
Token Takeover
You can argue that someone else can take over the project and continue developing... That's true and that happened with certain tokens on Hive-Engine, but it didn't go well... When you try to save the sinking ship, you have to "invest" double the energy that you need when you do it from scratch... From that point of view, you, as an investor will take double the risk without even noticing... Why would you do that when you have plenty of better projects out there?
Nobody Wants It
When times are hard and the token value goes down, many people are selling their tokens... They are swapping their bags for more promising tokens, or trying to speculate with some "fast-earning" tokens... But, even in those days, some people are BUYING the token... If you notice that those people are closely connected to the project, or they are collaborating with it, maybe they have some information about the future moves and that's the reason for their purchase... If nobody wants the token but you, something smells fishy... 😃
No Development and No Communication
If the previous signs weren't enough, this one should be... No communication and ZERO development is a clear sign to go out of the project... Again, there is a chance that it can "resurrect", but building a token value is a hard job... And re-building it up is even harder... The trust is lost, and it's almost impossible to build it up again... Bear markets, or these boring sideways charts are the perfect time for fixing issues with tokens... Those project owners that are working on their projects NOW are usually here to stay... Those that come back when the whole market is going up are there to milk rewards and to cash out from you! Watch out to not be lured into those tokens!
These are just a few CLEAR signs that you are in a "bad investment" and it's time to re-evaluate it... It doesn't cost anything to stop and reflect... I encourage you to do it as it takes a little time, but it can save you a lot... Not just money, but also time...
Thank you for your time,
~ph~
If you want to support my Hive-Engine witness node, you can do it by voting for @ph1102.ctp here https://tribaldex.com/witnesses... THANKS!
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This is the time to hodl more
Agree with you on that, but only if you HODL "good" tokens... Many of shitcoins will not survive until the next bull run and HODLing them has no sense at all...
Yes, that's a true one. I've done it once before around 2/3 months ago 🤔. It's for checking the result of MyHiveGoals2022. No progress or going down from time to time = sold without a second thought, Good progress = Taking the benefit and analysis for the next, and Best progress = Giving a chance to go more and just take less benefit.
Reflect on HODLing is a must as you say in Token Owner, "If the owner isn't interested in developing its token, why would you be interested in HODLing it??" -> No reason to hodl = No reason for other people to buy and hold -> It'll connect to "Nobody Wants it" -> Just decreasing the assets.
I'll do it again later at the end of 2023 and it'll also become a base for MyHiveGoals 2024. Reading your post give me an insight into what will I need to think of later when I'm checking the results again. Thanks!
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Happy to hear that you found some valuable points in my post!!!
Btw. I bet that your re-evaluation that you did 2-3 months ago was worth doing as many tokens went down... Don't know which ones you had, but the probability that you had some bad apples is big... :)
I had a comment on some of my previous posts that made me think and look back at #MyHiveGoals from last year, and the year before... The best decision that I made was to narrow my goals and focus on quality (Hive, HP)... Doing that helped me to grow my portfolio and not to grow numbers on shitcoins and drop the value of the portfolio in total...
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Those are some really great points to consider about HE tokens. One reason I do not hodl very many too is that it takes time to monitor them all and I am also not interested to micro manage a $50 token investment either! Lol.
You are right... It takes to follow them and you lose the focus from your main goals... In the end, you lose time and money for something that isn't worth risking... especially if you do it with small amounts...
You are absolutely right, I also get worried for a while when I see my Violent because they have been reduced so much that now there is almost no money left, but there is no need to worry because the coming year will be very good for all of us patience because the person who has been patient in this industry has reaped huge rewards.
No development and no communication is the worst. I had the opportunity to actually invest 100$ on BRO, early last year but I put the money into another project and to be very honest it was the most terrible decision. The project has been in limbo and neither communicates on why they just keep deteriorating and don't even have a market place to sell off on the loss and move on.
Unfortunately, that's a very common image, not just on Hive-Engine, but in crypto in general... Here on HE, the token creation is relatively cheap and many people create one without knowing what they are doing...
This project was even a game, although I invested how much I could afford to lose, but I was just dissapointed everything went to total zero
Oh, sorry to hear that... After Splinterland and Rising Star, I was bullish on Hive games, but after seeing some others having 10% of these two, I understood that it can't go well...
So, I have skipped most of the "new games" on HIVE (Except investing in GLX), and if I did go into them, I would invest only the initial deposit and don't go deeper with my money... Only reinvesting earnings from the game... That strategy works well with Terracore and GO, for example... The truth is that I was there almost on Day 1, so the initial investment was returned in less than a week...
There are definitely clear signs but I tend to just invest what I can afford. I don't overstretch on my investments for Hive Engine. At the same time, it's hard to really find myself in HE that much when there is 20% APR on HBD. I prefer splinterlands because I like playing the game so that works also as an alternative.
On one side, 20% APR on HBD is acting like a filter for good or bad tokens on the Hive-Engine, but on the other side, it suppresses some tokens that could work, but it's impossible to compete with 20%...
But, as for the way how tokens are created on Hive-Engine, I agree with you on NOT investing too much money in any of them...
Yea. It's hard for tokens to compete. I think it really ends up depending on the project to provide value.
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I buy tokens that have a price increase against HIVE on the chart. These are ALIVE, BRO and LEN. I like coins that show strength from a distance.
It is rare to see tokens that are going up in the last year or so, but there are expectations... You listed some of them and they should perform even better in better market conditions!
You are right
There are even some tokens that I have and I find them very useless but instead of exchanging them into another thing or selling them, I just hold on to them
We never can tell what will happen to the prices later...
Well, you can know for some if they have huge inflation, or they don't have any use case, or such... But, even in those cases, you never know how other market participants will react or what will they do...
I'm with the one which lost value :P down 90%, waiting and holding for then next bullrun.
Be careful out there... Some of those maybe won't get back at all... It will be interesting to see what happens when the next bull run begins!
It's tough to let go of losing investments - think it's human nature. Sometimes I have to force myself to realise losses when my initial decision didn't turn out right as well. Nice sharing!
!LUV
@ph1102, @relf87(3/4) sent LUV. | connect | community | HiveWiki | NFT | <>< daily
! help
(no space) to get help on Hive. InfoYeah, I know what you mean... I do that myself and in most cases, I do it too late... lol... Maybe I will learn one day... 😃
I'm also quite reticent to buy tokens that don't trade daily or at least every 48 hours or if they have long (unstandard) unstaking periods.
But my HE investments are quite focused, so I don't have to worry about that. I have marginal amounts of other tokens.
I remember seeing a token that had 2 years unstaking period... that was crazy... I understood the reason for doing that, but I would never go into that token... It is too much time for anything in crypto... 😃
Absolutely! That reminds me of vexPOLYCUB...
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I hardly ever check my HODLings because I know they are for a long-term investment ;)
I thought the same 5-6 years ago for some tokens that I decided to HODL... Some of them are not existing anymore... 😃
It's not often that an emotional connection to a coin is a good thing. However, sometimes it can be beneficial. I can think back to selling MATIC before it took off... if I had a connection to the coin I would have perhaps hodled on...
You are right about that... I had a similar experience with some other tokens, but that doesn't have to be an "emotional" connection... Maybe more a bit more of a research that would give us more "confidence" in the coin's future...