• Profile picture of Edicted

    Edicted

    2 weeks, 3 days ago

    LeoFinance

    100%
    @edicted
    edicted
    81
    3714 160
    hivestats.io/@edicted
    Moon
    Freedom From Debt-Slavery

    @edicted/trust-in-a-trustless-environment

    @edicted
    10h
    81
    LeoFinance
    LEOFINANCE
    Trust in a Trustless Environment
    Selling the bottom to buy the bottom. So the APY on staking CUB has dropped to a measly 2.3%. I had a million CUB sitting in that…
    273
    11
    $2.02 USD
    Trust in a Trustless Environment
    11 comments
    /
    0 reblogs

    @edicted
    10h
    81
    LeoFinance
    LEOFINANCE
    6 MIN READ
    1133 WORDS
    encryptionlock2key.jpg

    Selling the bottom to buy the bottom.
    So the APY on staking CUB has dropped to a measly 2.3%. I had a million CUB sitting in that contract (flex) and the only way to make it higher is to timelock it. Unfortunately the best yield on a timelock is 12 months (26%), with the lower periods escalating their way to the maximum on a spectrum.

    Doing the napkin math on this I came to realize quite quickly that 26% is more than x10 higher than 2.3%, which means I could just lock 100k CUB for a year (10% of my stack) and that would generate more yield than the million CUB I had in there. It’s a tempting proposition, so I decided to throw 200k in there for a year, currently valued around $3800. I’m so overextended on this token it’s pretty funny honestly.

    So then I had 800k to play around with, and I really had a hard time parting with any of it because of the whole 1M CUB unit bias that was feeding the dopamine in my brain. After weeks of flirting with an under the table buyer I finally decided it was time to get back into the LPs.

    I’ve always wanted to have a CUB/HIVE position and decided now was a good time. It’s an interesting moon-bag LP. No stable coins here. My go-to LP used to be CUB/BNB, but honestly I’m kind of over BNB right now with all the crazy stuff going down. Supporting Hive it is.

    There’s an added benefit for CUB within the context of pairing the token to HBD or Hive, and that stems from the wrapping fee. All wrapping fees go into buying and burning CUB, so simply providing liquidity to one of 4 out of 7 of the LPs generates free revenue for the network (anything paired to Hive/HBD). Whenever the difference in price of Hive & bHive is greater than the wrap fee (half a percent) we get forced arbitrage and CUB makes free money. This seems like the way to go at this point. Volatility harvesting is an interesting model.

    I emptied my Hive wallet but it wasn’t nearly enough. Had less than $2000 liquid. Still considering selling some Bitcoin to get some more Hive this way… but honestly that’s a tough sell, as liquidating Bitcoin at this juncture is a huge risk that I know I shouldn’t take. Yolo?

    nodeal1000000million.png

    So I took the deal.
    I didn’t want to sell any CUB on the market, but my over-the-counter buyer was still motivated. Sent me 7000 bHive. That’s a new personal record for me, and somewhat the point of this entire post. I’ve never just had someone send me $2000 worth of naked crypto before and just trust me to pay them back. I did this quite a few times with value transfers of Steem to Hive during the hostile takeover, but it was for much smaller amounts ($100-$200).

    This just goes to show you that the connections and communities we are building here are strong. Ideally crypto is building a foundation that exists within a trustless environment. We aren’t supposed to need to trust anyone to uphold their end of the bargain, but as it turns out, decentralization is hard, and at these early stages of the game there are plenty of opportunities and shortcuts presented to us that absolutely do rely on trust.

    In fact, no matter how decentralized and “trustless” crypto gets, the foundation will always be one of trust. We are simply outsourcing that trust from an individual we are doing business with to the network itself. Theoretically the network can be untrustworthy, but this is exponentially less likely.

    Even if I wanted to steal $2000 that someone had given me for a trade, it’s actually quite impossible to do so profitably. I can’t throw away my reputation on Hive for $2000, as my rep is worth much much more than that. At this point it’s impossible to measure how much it is worth, but it’s a lot. Who knows where Hive will be ten years from now? The reputation of my account could very well be worth more than the literal dollar value associated with my crypto holdings.

    image.png

    So I paired the 7000 bHive to 105,000 CUB in the LP, and sent 105,000 CUB to the trader for the 7000 bHive. Simple. Although now I have less than 800k CUB instead of 1M. Very sad. On top of that I still have half a million CUB just sitting around waiting to be thrown into an LP or locked for a year. It’s quite likely I’ll need to trade even more for Hive in order to get it into a place that actually generates yield and has a positive benefit to the network and myself.

    Selling the bottom to buy the bottom.
    So I’ve essentially sold CUB at the bottom, but at the same time I traded it into Hive sub 30 cents, which is just absurd considering how high we were flying during the bull market. I may use this stack to justify offsetting funds elsewhere. I still need to buy some Bitcoin back that I sold during the Binance FUD. Or maybe I don’t. I guess it all depends if alts do okay during 2023, so who knows.

    Conclusion
    No one likes to sell the bottom, but what if you’re selling the bottom to buy another bottom? Such is the state of things when trading one crypto for another within a connected market. It gets even weirder in this particular situation because selling an asset can ultimately lead to higher liquidity and a higher price over time. Quite odd indeed.

    The world is in a crazy place right now, and trust is in short supply. Luckily, trust is the primary asset that crypto deals in. We can always trust the ledger because the ledger is being confirmed worldwide by many nodes worldwide, all operated by users who have an incentive to stay honest. In the event that we need to trust an individual that often works out too and we meet some amazing people along the way, just remember that it might not always work out in the end.

    Within this context, we see how Hive is once again way ahead of the curve in terms of the apathy and malice we see on other networks. On a social level, communities like Bitcoin and Ethereum are completely fractured and the waters are full of hungry bloodthirsty sharks. Most do not even get warning of who the sharks are or what they are doing, and if they do it’s on WEB2 social media. Hive is intrinsically more connected than that. Love to see it.

    Posted Using LeoFinance Beta

    PROOFOFBRAIN
    PALNET
    VYB
    BITCOIN
    CUB
    HIVE
    BHIVE
    LEOFINANCE
    273
    11
    $2.02 USD

    Begin editing…

    11 Comments
    REWARD

    poshtoken
    10h (Edited)
    https://twitter.com/1460818780980973570/status/1613279503752613898
    https://twitter.com/1415155663131402240/status/1613375110307803137
    The rewards earned on this comment will go directly to the people( @hivehotbot, @rzc24-nftbbg ) sharing the post on Twitter as long as they are registered with @poshtoken. Sign up at https://hiveposh.com.

    0
    $0.00 USD
    Reply

    stayoutoftherz
    10h (Edited)
    You stacked 1M CUB? Ouch, what was your average? Or were those all compounding earnings?
    Anyway, the upside potential is way higher with Hive, plus while staking it get´s you the 12% per year along. So why waste your time with CUB? This token is created out of thin air and thin air is where it will eventually go.

    On another note, I noticed that you have some votes left for witnesses. If you could consider voting for me, I would really appreciate it! I am fully dedicated to Hive, never powered down a Hive, curate manually a lot, and thrive for more decentralization of our favorite blockchain. Thanks!
    https://vote.hive.uno/@stayoutoftherz

    2
    $0.02 USD
    Reply

    edicted
    81
    10h
    Hmmm yeah it’s not as bad as you think I bought most of it at 2 cents, and a lot of the money I used came from degen gambling on polycub and exiting early.

    1
    $0.00 USD
    Reply

    tobetada
    10h
    this whole (p)cub thing has a really sour taste for me and I imagine 99% of people came into contact with it. But at least the team has been getting on track again with focusing on leo and the hive bridge. Really wondering where cub will be during a bull market – I will probably be buying the top again 🙂

    2
    $0.02 USD
    Reply

    dagger212
    10h
    One of the bright spots of “selling the bottom to buy the bottom” on Hive is at least you don’t get crushed on transaction fees. It wasn’t too long ago when doing anything with the ERCs or Bitcoin took a nice big bite when repositioning at the bottom. BSC isn’t as good as Hive, obviously, but it’s not bad.

    I did something similar a few weeks back with polycub where I moved some over to CUB instead. Since they’re “fixing” that one first, I figured I might as well get on board that one. Funny, most of my polyCUB came from CUB in the first place. I’ve just been playing Plinko all the way down. lol

    We’ll let it sit for a while now. There’s really no place to go but up… 🙂

    Posted Using LeoFinance Beta

    2
    $0.02 USD
    Reply

    zaibkang
    10h
    Sr why do you not engaged with Hive users Onchain?

    0
    $0.00 USD
    Reply

    edicted
    81
    10h
    ?

    0
    $0.00 USD
    Reply

    zaibkang
    10h
    I mean not replying comments not giving upvotes, you are only just published post that’s what I feel because I don’t see any upvote giving by you on any post or any comment from you?

    0
    $0.00 USD
    Reply

    steemychicken1
    10h
    Sometimes it’s hard to comprehend the amount of trust that it’s build in that community and in crypto as a hole. I have done my share of deal with big amounts of money and i was never let down. And i can’t say the same for my everyday life and people that i know personally.

    2
    $0.02 USD
    Reply

    manniman
    7h
    That’s a good move, Bottom2Bottom seems irrelevant. From here on out, up-and-to-the-right.

    0
    $0.00 USD
    Reply

    rzc24-nftbbg
    4h
    We can always trust the ledger because the ledger is being confirmed worldwide by many nodes worldwide, all operated by users who have the incentive to stay honest.

    This summarizes the whole article for me.

    Impressed with that 200k locked CUB!

    Posted Using LeoFinance Beta

    0
    $0.00 USD
    Reply
    @edicted/with-the-confidence-of-a-child-digging-a-hole-to-china

    @edicted
    1d
    81
    LeoFinance
    LEOFINANCE
    With The Confidence of a Child Digging a Hole to China.
    This Joe Rogan clip has been circulating crypto Twitter for the past few days and I was going to ignore it but… meh, let’s address it. I…
    449
    2
    27
    $4.70 USD
    @edicted/number-go-up

    @edicted
    2d
    81
    LeoFinance
    LEOFINANCE
    Number Go… Up?
    Feels nice to have a green day after so much crab walking. Litecoin above $80. Pretty cool to see such a old-school alt that is…
    272
    9
    $1.69 USD
    @edicted/vitamin-c-vitamin-d-zinc

    @edicted
    3d
    81
    LeoFinance
    LEOFINANCE
    Vitamin C, Vitamin D, Zinc
    So I’m on like day four of the coof, which traditionally for me would be the crescendo for viral infections. Normally feeling my worst…
    450
    22
    $3.60 USD
    @edicted/i-gots-tha-coof

    @edicted
    4d
    81
    LeoFinance
    LEOFINANCE
    I gots tha coof!
    I like to write a blog post every day. It’s like a tradition at this point. In fact I’m told that I wrote exactly 365 posts last year.…
    432
    1
    34
    $2.64 USD
    reblogged
    @brianoflondon/what-is-nostr-and-why-is-it-exploding-a-guide-for-hiveans

    @brianoflondon
    6d (Edited)
    76
    VALUE 4 VALUE
    What is Nostr and why is it exploding? A guide for Hiveans.
    This is a value for value post: see the explanation in the footer. As many of you know, I’ve been described as “Hive’s leading expert…
    640
    4
    40
    $5.20 USD
    @edicted/more-milestones

    @edicted
    6d
    81
    LeoFinance
    LEOFINANCE
    More Milestones:
    Crypto is a bit slow right now, and that’s a good thing. We are firmly in the consolidation phase waiting for something to happen. News…
    358
    1
    29
    $2.09 USD
    @edicted/dead-cells

    @edicted
    9d
    81
    LeoFinance
    LEOFINANCE
    Dead Cells
    Dead Cells is a video game that launched in 2018 and became popular during the last bear market. The only reason I know about it is…
    472
    2
    8
    $3.88 USD
    @edicted/binance-extorts-buddy-for-usd500

    @edicted
    11d
    81
    LeoFinance
    LEOFINANCE
    Binance Extorts Buddy for $500
    I usually have a lot of nice things to say about Binance. High liquidity. Low Fees. High volume. Low Risk (comparatively…
    358
    9
    $2.47 USD
    @edicted/christmas-miracle

    @edicted
    12d
    81
    LeoFinance
    LEOFINANCE
    Christmas Miracle!
    Christmas Miracle! I’m pleased to report that I’ve found $8000 lying around that I had completely forgotten about. A little over a year…
    557
    2
    23
    $3.35 USD
    reblogged
    @meno/now-that-we-are-poor

    @meno
    13d
    74
    ECONOMY
    Now that we are poor
    I keep on seeing posts worried about this whole bear market thing. People who are wondering if they should just sell and quit the game…
    182
    18
    $1.35 USD
    @edicted/nostr-decentralized-social-media

    @edicted
    13d
    81
    LeoFinance
    LEOFINANCE
    NOSTR Decentralized Social Media
    A lot of people have been talking about this protocol lately. We at Hive have to ask: is this a good or bad thing for us? Most would…
    578
    2
    21
    $4.14 USD
    @edicted/crab-walk-consolidation

    @edicted
    14d
    81
    LeoFinance
    LEOFINANCE
    Crab Walk Consolidation
    The Bitcoin market has been one of the most boring sideways crabwalks we’ve ever experienced. I bet if FTX never collapsed it would have…
    364
    12
    $2.54 USD
    reblogged
    @dalz/exploring-the-sustainability-of-the-hbd-interest-rate-in-the-hive-ecosystem-or-realized-and-projected-inflation-from-hbd

    @dalz
    15d (Edited)
    77
    LeoFinance
    LEOFINANCE
    Exploring the Sustainability of the HBD Interest Rate in the Hive Ecosystem | Realized and Projected Inflation From HBD Interest| Dec 2022
    While 2022 has been a challenging year for the cryptocurrency industry, HBD has been in a bright spot, especially for users within the…
    669
    3
    44
    $7.36 USD
    @edicted/venus-fly-trap

    @edicted
    15d
    81
    LeoFinance
    LEOFINANCE
    Venus Fly Trap
    I’m back! Still finding it fairly difficult to write posts during the holidays, even though theoretically it should be pretty easy to…
    362
    12
    $3.00 USD
    @edicted/learning-about-iraq-from-a-9-year-old

    @edicted
    19d
    81
    LeoFinance
    LEOFINANCE
    Learning about Iraq from a 9 Year Old
    I watched this YouTube video today with my nephew. Pretty wild eh? This kid is extra. He literally asked me the other day: Want to…
    490
    3
    14
    $3.84 USD

    @edicted/snow-day

    @edicted
    20d
    81
    LeoFinance
    LEOFINANCE
    Snow Day
    Apparently I’m going to be caught up in a huge snowstorm tomorrow. Didn’t realize just recently how big this thing was, as it seems to be…
    270
    20
    $2.30 USD
    @edicted/news-of-the-day-december-21-2022

    @edicted
    21d
    81
    LEO
    News of the Day December 21, 2022
    It’s getting pretty late and I don’t really have much time to write this, but I thought it would be important to power through some…
    295
    8
    $2.07 USD
    @edicted/defending-the-quarter

    @edicted
    22d
    81
    LeoFinance
    LEOFINANCE
    Defending The Quarter!
    Remember when these things were made of silver? When I was a kid I used to think that antique coins got their value from being old and…
    593
    2
    37
    $3.95 USD
    @edicted/died-suddenly

    @edicted
    23d
    81
    LeoFinance
    LEOFINANCE
    Died Suddenly
    Has anyone seen this ‘documentary’? I haven’t watched it, and a Google search on it yields the obvious results: But… We…
    646
    2
    29
    $4.69 USD

    Profile PhotoProfile Photo liked this
User Balance 22 / btcmyk
Newbie

User Badges

Media