Building the Tiny Account: Hedging My Bets With HBD!
These rather turbulent times are enough to make pretty much any cat a little bit apprehensive!
Seems like practically every day we get some kind of news that leads to either a moment of euphoria or a moment of terror.
Maybe "that's just crypto," but it makes me rather grateful to not be one of the "active players" who are trying to time and predict what the Cryptosphere will do next!
Until not so long ago, many might have told a "Nervous Nelly" like me to park my available liquidity in a so-called "stablecoin," but recently we've seen how even that can suddenly collapse.
What to do? Run for the nearest exit and just keep my tiny pile of money in a shoebox under the bed? Probably not very wise!
Time to Pause and Evaluate
Fact No. 1: At a very fundamental sort of level, I still believe that cryptocurrency is "a good idea." Whereas I also think the original idea has been extensively usurped by traditional "Wall Street Greed," I think it's a good idea. Hence, no, I'm not ready to just exit.
Fact No. 2: I'm not a "lottery player." I'm a long-term investor. At the moment, the markets look more like roulette than investing, at least to me. Really don't want to be part of that, no matter what "amazing opportunities" people might be hawking.
Which leads us to...
Fact No. 3: Our own Hive Backed Dollar, aka HBD. Throughout the recent chaos, it has held its value really well, and a couple of excursions below $0.90 were fairly brief. And this morning I even collected a bit of interest, which reminded me that this is really a very viable way to sideline myself, while still "being involved."
Even collected a bit of interest, earlier...
The Rising Price of Cat Food...
Earning 20% on a reasonably stable investment is a decent proposition... especially given how much the price of cat food has gone up. At the beginning of the year, my favorite brand was $0.89 a can, today that same can costs $1.29.
That's much more than a 20% rise, but I attribute some of the jump to the recent practice of "Greedflation" which some larger companies seem to be inflicting on consumers. Greedflation is the practice of producers (for example) passing along a 10% increase in the price of raw materials as a 30% rise in end consumer prices, using the fact that consumers "are already expecting" higher prices as a smokescreen to fatten bottom lines.
Regardless, HBD seems like a good way to hedge at least some of my bets for a while, at a time when the markets don't seem to have a clear direction.
Curator Cat 23-JUN-2022