Follow Friday: Crypto chaos

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The News

I will start with my usual price chart that I generate from @coingecko data. $HIVE got close to 40c, but it could be that recent new has had an effect.

Prices

I had an email to say Bittrex Global is closing shop in a week. I have not used them much, but it seems I have a few cents of something in there that I may try to extract.

Then it seems Binance has settled with the US SEC for a large amount.

Meanwhile HTX (formerly Huobi) got hacked for a few millions. I doubt many here will feel much sympathy for owner Justin Sun.

I saw @lordbutterfy complain that some Hive projects happily take money from the DHF, but do not communicate with the community. I get that they may be busy, but we at least need to know about new features. I did see Peakd report on an update for their chat feature. Notifications are pretty fundamental, so they needed to do it.

Maybe I missed an update on Hive Engine, but it has been misbehaving over the last couple of days. Sometimes I get a blank screen, other times just one coin (usually FOODIE) or it shows ridiculously high values. I have to refresh a few times to get a true picture. I have seen some say we should use Tribaldex, but does that offer the same features?

Friday Follows

All these people get a share of the post rewards.

The End

I have said it many times, but worrying about the price of $HIVE will not improve matters. You need to be doing things to help it. You can publicise the platform to get more people involved, run a contest, organise a meetup, write an app or just leave more comments. All those things can help to make it more attractive and we all stand to gain. You may even earn some extra votes in the short term. Do not expect others to do all the work.

Hive five.

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28 comments
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Oh yes Bittrex is closing and it was the one I used to buy/sell HIVE, time to find another exchange that is not Binance 😅. Thanks a lot for the mention! 🤗

!BEER

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The other thing to remember about the price of Hive ... it is a crypto in the market. Until Bitcoin does what it does next year, it's not going to outrun it dramatically because of how Bitcoin dominates the market and how small Hive is. But, all that we can do to make people aware of Hive helps ... next year is just a bit away now ...

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There's something in that, but I think it could be worth more relative to BTC and certainly more than some other coins currently above it. It's under 1000 Satoshis right now and was over 2000 a year ago. We need people to invest in Hive rather than other chains, but they need reasons to do so. Not that I'm any sort of financial expert, but I see value in Hive.

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A year ago ... different place in the cycle, though, still. Most altcoins lost 70-90 percent of their value, no matter how good they may be ... the market is so speculative. You are right in that we could get onto the less difficult end of that if we have more people knowing about it. I have done my best this year for that: got a book out, included a chapter on Hive in it, should have it well-positioned by the time the halving hits. A lot does have to do with Hive being visible to the people.

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Thanks for addressing some of these. Our efforts to give a significant influence to the blockchain must be a priority of everyone. I hope to see you at the upcoming meetup at the end of this month @steevc

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Well, a lot of us are worried about the price of Hive
Truly, it does not really matter but we all have to make Hive a home for us and also a token that we can be convenient with when it comes to investing

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As purely a piece of perspective, with Bittrex closing there's effectively no remaining exchange that handles Hive in the state of the USA where we live. Pretty much much everywhere there's a pop-up message that goes "ooops, you're in Washington state USA, we don't do business with you."

Not really planning to sell any Hive/LEO at this point, but I'm pretty much left with Hive --> SWAP-hive --> SWAP-LTC --> Coinbase as an "exit strategy." And with Hive-Engine on the fritz, that does not feel very secure.

=^..^=

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Yeah, that's not great. We need more options.

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Ionomy.com is a good Exchange for Hive/BTC … no KYC

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(Edited)

I do have an account there, but the spreads tend to be rather large and the volume is almost non-existent. Perhaps OK if you have weeks to wait for a trade to execute, but not much use if you need to cash out "in the moment."

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Maybe if more people used it, it would improve… I just set my LIMIT buys and they always fill at very good prices. Somebody always needs to sell “in the moment”. And I catch those ones.

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I agree we all need to bring in new blood and help retain them. It's not easy getting started, I remember it well!

Hive Engine has been really goofy, showing up SPORTS token to be worth $70K on second then back to normal the next. Don't know what's going on there!

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HE seems better now, but it was all over the place for a while. I use it every day, so I'd like it to work.

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Crypto world is really facing a hard time now and I strongly believe it will recover from it

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Thanks for letting us know about the Bittrex situation. your closing words are crucial. I strongly believe that if we want to see the price of Hive go up, we need to create more interaction. I have continued to interact from the beginning, but it is clear that not doing it and continuing to make new posts is something that makes more money economically. So for now things seem to me to have gone as they were supposed to go, or as they were set up

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Sticking with it helps. We just need more people to do that.

!PIZZA

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Yeah, I think updates are essential, especially for community members who may be out of the loop and miss things occasionally. I do get that people can be extreamly busy too, and can't dedicate themselves or team members to writing updates.

God, speaking of Hive Engine, I saw mine hit 3.1 million and I knew it was acting a bit funky, so took a picture and sent it to a few groupchats I'm in with the caption "Drinks are on me." It was funny to see initial reactions haha

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We have to hope that people will keep the tools we need available. They can at least earn a little from their posts. Those providing the infrastructure tend to get good votes.

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(Edited)

Has their been any announcement about the issues to do with Hive Engine, or estamation on when it'll be fixed?

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I'm not sure I've seen an official announcement, but various people say to use Tribaldex. It seems to lack that view of what you hold.

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I usually only use TribalDex for LPs, I have to look into it a bit more and figure out everything else it has to offer, but thanks for the tip.

Haha, I was just thinking there, Hive is one of the few places you can have two completely different conversations simultaneously with the same person !LOLZ

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Yeah, it gets confusing to follow all the discussion threads. I get more engagement here than anywhere else.

I've just been using up my votes for today and then off to bed. I want to get up and run in the morning.

!BEER

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Hive Engine is still glitchy on my end. Thanks for the crypto round up!

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Just like that, the existing bittrex is going away, so now we have to look at other exchanges for trading. Now i will start to ise binance.

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