Friday Finance 11/26/2021: Holy Hannah Hive!

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It is time again for another Finance Friday/Friday Finance. This is a series I started where I talk about random bits of financial stuff that I have seen, gathered, or experienced during the week. I hope as a reader you find it informational, entertaining, or both. I also hope it can generate some good discussion and edify the Leo community.

Now that Thanksgiving is behind us and the holiday season has officially kicked off, I find this is a good time to start reflecting on the year and some of the things that have taken place.

I am here sitting on my couch watching the Iowa/Nebraska football game. I just finished watching the Michigan State Spartans play the championship game of the Battle for Atlantis basketball tournament.

My wife and our dog Jovi are taking a nap, and despite my day off, I am carving out some time to do a quick Friday Finance post.

The Hive Price

Let's just get this one out of the way. I woke up around 7 yesterday morning and immediately logged in to my computer so I could purchase some more of the SEED token offered by @empoderat. I didn't even notice the price of Hive until I started chatting with @cryptoandcoffee and he brought it up.

I had already missed the initial pump (to right about where we are now), so it didn't have quite the same impact for me.

Later, I spent the evening with my wife's family having Thanksgiving dinner. I had some really great conversations with @robrigo (CEO of @facingsofficial) about all manner of crypto related topics. It was a similar conversation I had four years ago with him that led me down the road of crypto investment.

It was cool to see how excited he was for the success I have had. We left dinner with me telling him I couldn't thank him enough for all he did to help me.

Then I got home, and saw the price of Hive had topped $3.00. I quickly took some screenshots of my estimated account value and showed it to my wife. She said "Sell $30K of it!" I then had to explain to her how it was all staked and just selling it is no easy task.

I hope one day the price of Hive dwarfs where it is right now and those screenshots will seem trivial to me. For now though, I am going to cherish seeing my account at six figures for the first time. I honestly never could have imagined I would achieve that feat.

NFTs

Finally, I am going to close this post out by talking about NFTs. It is getting harder and harder to pick them up lately. Especially over on the WAX side of things. I tried to participate in a sale this morning for a game called Animal World.

Thankfully this sale had a whitelist. That is one of the only ways you are guaranteed to get a pack these days. While I qualified for the whitelist, the legendary packs that I was gunning for only had a max available quantity of 500. I clicked as fast as I could as soon as the countdown timer hit zero, but I still wasn't able to pick one up. The packs sold out in literally seconds.

I was able to grab a pack from the next level down, but it isn't what I was hoping for.

A quick look on the secondary market showed that those legendary packs were already being flipped for five to six times their original sale price.

I also just saw a post in one of my telegram channels that someone used a bot to pick up 25 of the 500 legendary packs in the sale.

I love the idea of whitelist sales. I think it gives people a better shot of actually getting a pack. I know there are some people who aren't fans of whitelists. Depending on the requirements to be whitelisted, they can sometimes favor those who have deep pockets.

Something needs to change though or many people are going to continue to be disillusioned about this whole NFT thing.

It's a tough slope though, I understand that. People have been complaining for years about the way bots are used to snag concert tickets and then resell them on the secondary markets for huge profits. If they haven't been able to fix that issue over the past couple of decades, it is likely going to be a long path to get there, but in my opinion, it is something that needs to be fixed before we can really see NFTs and play to earn become viable.

It looks like it could be a pretty red day. Let's hope this is just a small consolidation before we see the big bull push to the end of the year.


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Posted Using LeoFinance Beta



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12 comments
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This is why it is safer to keep quiet as family members tend to want you to sell it and then what? Hive at $15 or $20 is a different story to one that is at $2 or $3 as then it is more serious.

Posted Using LeoFinance Beta

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Yeah, that is a good point. My wife is really pretty cool about it all. Though she likely doesn't know just how much our investments are worth now.

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My other half has asked why I can't cash out lots of money. It's not so simple, but some day I will use it to treat us. It was crazy to see my account worth more than some houses in the UK.

I am not rushing to buy lots of NFTs. I will buy some where they are useful in a game or if it rewards the artist. I got one in Rising Star that is a physical vinyl record that will get sent to me from Canada soon. I do think there is a lot of hype around this area.

!PIZZA

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I think they have a strong use case. I am investing in some games that look really interesting. It is fun learning the new playstyles and watching the space evolve.

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It's too bad the bots messed up your plans of buying packs. It does seem like there will be a lot of issues as things go digital and it is tough to figure out who are bots and who aren't.

Posted Using LeoFinance Beta

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I have looked into the NFT stuff, but still it's very blury to me :)

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It's kind of like the wild west right now.

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I clicked as fast as I could as soon as the countdown timer hit zero, but I still wasn't able to pick one up. The packs sold out in literally seconds.

This is the reason I stopped participating in drops. We used to participate in 5-10 drops a day. Now without white lists, as you said, it's almost unrealistic to take anything. Already even bots started to compete with bots better))

Thanks for your report, it was interesting to read!

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Yeah, the bots are out of control. It is kind of disheartening. I hope they can eventually do something to fix it.

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I really hope so, and for a fair level playing field for all!)

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