BLURT is in a world of hurt, no doubt - we've lost 95% in the last 9 months. But let's not forget that HIVE, the token many of us traded in for BLURT, is also having a very bad year.
HIVE hasn't been this cheap since July 2021 (16 months ago). From 3.41 USD in November 2021, to 0.33 USD in November 2022, the token has taken quite a tumble.
I was holding 17,000+ HIVE at the very top (about $60000 USD), but did not yet have a mechanism to trade/sell it, and held on through the collapse, only moving it into BLURT in March and April of this year. After 8 months of full-time content creation, curation, and compounding interest accumulation, I now have 534,300 BLURT (worth 1335 USD).
But just for fun (or is it torture), what would my holdings be if I had held my HIVE earnings in a fiat currency like USD (or a stablecoin) until today, when BLURT is so much cheaper?
Turns out, I could buy over 24 million BLURT with that amount, if I had only waited. In other words, it's a bad idea to invest in BLURT, and a much better idea to hold pretty much anything else. Even HIVE would have been a much wiser place to keep my savings, down "only" 90% in the past 12 months.
"But NOW is a great time to buy BLURT, because it's really cheap!"
Sure, sure. That's exactly what I was led to believe. Hundreds of other investors/savers have made the same mistake, and continue to do so. Maybe at some point in the future, BLURT will be a buy. But nothing we have seen so far gives much hope of that. In fact, it would STILL likely be a good idea to get out of BLURT until something changes with the token fundamentals. Selling something when you're down almost 98% is usually a bad idea, but in this case, it would be prudent.
Case in point - a couple months ago I used some BLURT to buy food. The dollar price of that food is up since then, while the BLURT has lost 60%. At the time, I was sad to see that BLURT go... but now I wish I had used it ALL to buy food and other things my family needs!
I would be the richest (most BP) person on the Blurt blockchain, if I had just held my money 8 months. I would also not have given 8 months of hard work - creating content and curating - and could have put that effort into something else. I would be many times bigger than Megadrive, and "socialgraph" (whoever that is), and every other insider and whale on this chain.
If I had only waited!
Instead, I'm a relative nobody, creating content for pennies, while the insiders create as many tokens as they need to "pay their costs and make a profit", driving down the value of every remaining token the rest of us are holding.
How about you?
How much BLURT would you have, if you had stayed on the sidelines until today?
Did you jump out of HIVE to get involved here, or did you buy BLURT using fiat currency, or perhaps some other crypto like BTC?
One year ago, I could have bought a brand new luxury car with my crypto savings. Today, I can't even buy a used catalytic converter (part of the exhaust system). Next year, perhaps I'll only be able to afford a hubcap? We'll see!
DRutter
Same here, I pulled out all my little hive and steem holdings to join blurt.
No one is happy with the Blurt price. I am not happy about it too but I am hoping for the best. I hope it rises back like before
I'm not looking back... I didn't want my stake one second longer in such a downvote shithole like Hive... So I don't dwell in the past, but try to accumulate Blurts here... You are doing a good job in that too BTW ;D
Just keep pushing forward! 💪
Hehehe, well yeah, if I pull out my half million, the price will drop further. Every BLURT counts at this point! It's you, me, Dan, and a few other people keeping the price off zero!
It's a little discouraging seeing the witnesses move up past me so easily, and content does not keep up at all. This does not encourage content-creators to put in much effort, and therefore we are seeing less and less real content on this chain. Who knows how to reverse it? And who has the guts to do it? We'll see.
Thank you for the cocovote :)
Though Hive dropped much it is still very much inflated. You can't liquidate HBD and Hive is overrated. I think Huve can easily return to 300 satoshi. Currently its evaluated 2000 sats.
If Hive crashes another 50% Blurt will too. It’s just the whole space.
Good to see you here! Regarding the subject, 60m market cap for Hive after 50% crash is still huge evaluation in times when empire falls. If blurt crashes 50% its 1m marketcap which is so easy for takeover, holders won't sell. Thats my opinion but I could be wrong of course. So far Hive declined 50% from 4000 satoshis and I think it will touch 300.
Market is the same for every project
Exactly
Wow, every project is down 98%? I didn't know that! What an interesting coincidence.
Congratulations!
You have recieved a coconutty upvote! 🥥
Thank you for contributing to the Blurt Blockchain!
Keep up the great work!
Curated by @outofthematrix!
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Everything is down in space this much besides the major couple which are down 75% not 95%. Not really a hit on Hive but entire space