Spot the Red Flags .:. WorkerBee PH-Pool Week 160
As we approach the complete frenzy phase, maybe it's a good moment to discuss certain things before we become completely blind and deaf on any advice or rational thinking... What you "feel" at these moments is called FOMO, but the level of FOMO is far away from where it will be soon... What you "feel" now will be multiplied by 10... And believe me, in those moments you will be out of your mind, thinking that you are the professional trader, the invincible investor, and the high-profile content creator... 🙂 Btw, when I say YOU, I think of myself too. I write these posts for myself, as a reminder for those days that will come...
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In this WB report post, I would like to use this space to talk about two things (or maybe three) that I have researched recently... It is connected with the FOMO, expectation, and those token shillers around that are "promising" that EVERY token will go up in the bull market... The truth is that many tokens will go up, but some tokens are already half-dead (or dead) and will never recover... As for our Hive ecosystem, I was checking out tokens on TribalDex... By default, they are sorted out by 24-hour trading volume, and there are 30 tokens per page... Among them, many are wrapped tokens, which means that they represent the token that is "bridged" to Hive-Engine and it is not the "native token" from it... Those tokens are SWAP.BTC, SWAP. MATIC, etc...
If you watch closely, you will see that the Top 18 (more than half of the tokens on the first page) are either those wrapped tokens or tokens related to Splinterlands... The pleasant surprise that I didn't expect is that the first token after them is the STARBITS token from the Rising Star game! After that, you can find the BEE token (the one that we mine with this pool), PART token (Golem Overlord game), LEO, etc.
If you scroll down and move to the 3rd page, you will notice that those tokens have 24-hour volume between $5 and $20, which is low, but when you go to page 4, things get much worse... What does this mean? Well, I'm not saying that tokens under that page are dead, but with such a low trading volume, it means that people are not using them for various reasons... Lack of use case, low liquidity, etc... So, if you have heavy bags in some token that is under page 4, you should re-check how healthy the project is, whether are there any moves, and hope that it will do something... Just be aware that a lot of tokens were hit hard by the last bear market and many of them WILL NOT RECOVER in the next bull!
Speaking of movements, that leads to the second story that I experienced on my skin today... I am following some other crypto projects and I got lured into one of them which was promising a few months ago... It is a DEX that doesn't have a token, but they have a POINTS system and a "promise" of airdrop of the token "soon"... All that is great and I wanted to do some lending and small trading, so I gave it a try... I tried a couple of products and made some small profits, but the main focus wasn't on the profit, but rather on getting more of those POINTS for the future airdrop... Long story short, after some trades, I noticed that I couldn't claim my earnings as the system was giving me errors... Also, entering and exiting trades was super-slow (I understand that on DEXes it can't be as fast as on CEXes, but this was extremely slow)... In the beginning, I thought that it was a temporary glitch and that it would be fixed, but after a few days, the issue was still there...
In a search for a solution, I went to explore news on the X page of the protocol and I was unpleasantly surprised with what I saw... There were just 2-3 posts in the last month (these days, crypto projects are creating multiple posts per day to get bigger exposure), and the comments on those posts were bad, but really, really bad... Everyone was complaining about something, from POINTS not calculated to glitches in the app...
So, I went to check out their Discord... Another huge disappointment was waiting for me... After joining and verifying my account, I was able to see "all channels"... The purpose of having a Discord is to discuss your project/game/community, but they completely killed that purpose by locking ALL channels for the general public and leaving ONLY announcement channels open!?!?! So, if you receive too many complaints, you just close discussion channels, and your problems are solved? NOT! You fix the problems and have positive and happier clients!
All that was too many red flags and I decided to pull out my investment from the project and move on... This doesn't mean that the project will die, or that they will not solve their issues, but it doesn't look too good... There are many other projects out there, with much better user experience that have much better possibilities to make it!!!
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Watch out for things like these... Don't get stuck with some project because you "loved it", or you were the early bird... Move on and find a better one...
Back to the Workerbee report numbers!
In the last 7 days, we mined 95 BEE tokens in total!!!
This POOL doesn't have fees and you get up to 20% MORE by delegating to it!
What about the bonus tokens?
Do you remember the opening lines of this post? After those wrapped tokens, one of the tokens on that first page of Tribaldex was the LEO token... The LEO token has a market cap of a bit over $1M, which is much more than many others in the Hive Engine, it has a 24-hour volume of under $200, and there are 17.6M LEO tokens out there... It is one of the stronger tokens in H-E as we have many others with "fake market cap" details (there is no liquidity, the last price was pumped and faked by owners, etc.)... So, I would say that the LEO token is one of a few that have a chance to get the "bull run vibes" and go up in the next few months if the whole crypto market continues in the same direction... Of course, that is just my speculation and not financial advice!
There will be distributed 40 LEO tokens to the delegators of the pool as a bonus reward today!
As always, in the end, let's give the exact numbers for this week... There will be distributed 95 BEE tokens and 40 LEO tokens as a bonus... The APR (without the bonus) was 6.950%, and when we added the bonus it went up to 8.333%!
I have calculated the ROI approximately with medium prices for all tokens at the moment of creating this post... So, those numbers are valid if you bought WB and sold BEE tokens at the middle HiveEngine price...
Do you want to sponsor the PH-Pool with your tokens, receive a short SPONSORED segment in this post, and raise awareness about your front-end or dApp? Please let me know in the comment section, or contact me through Discord or Twitter and we will find the best solution for both parties...
If you want to join the WorkerBee PH-Pool, the only thing that you have to do is to STAKE tokens to YOUR account and DELEGATE your staked WORKERBEE tokens to THIS account (@ph1102)! Every week you will get your portion of mined BEE tokens and BONUS rewards!
.:. DO NOT STAKE TOKENS TO MY ACCOUNT!!! Just DELEGATE! .:.
All payments will be made after publishing this post...
If you have any questions, please leave them in the comment section!
You can find more about this pool in the initial post here https://inleo.io/hive-119826/@ph1102/workerbee-p-h-ool-let-s-help-each-other
Thank you for your time,
~ph~
PS. @lemonp8ste refund 8/9 (3.88888 WORKERBEE), for mistakenly staked WB tokens is sent!
and REFUND 1/9 for mistakenly staked tokens (26.98425 WORKERBEE)
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That is some great advice. Good job you spotted those red flags and ran! I can't imagine a 10x euphoria from now, but hopefully we can keep our feet on the ground and execute our plans.
Not sure about myself, I know to FOMO into stuff despite being in the space for over 6 years... lol... You never know what will happen... 😃
Good reminder and thanks for the $LEO bonus. $LEO is one that I am very excited for this run! I think its going to have some gains.
You are welcome! Yeah, LEO looks much healthier than many other H-E tokens, that's for sure... Fingers crossed for the next bull-run run! 😃
Good advice and thanks for the report.
Another good idea: I think I should invest more in your pool. 🤑
Hehehehe... I was happy to see our LEN and LENM on page 3... Didn't expect that either, but the project is doing good and numbers are going up... 😉
Thanks for your support!
If the price of HIVE go up some more, I might be regretful not converting some HBD to HIVE :)
Hehehe... You didn't do it? I did convert some under 40c... 😃
I have been accumulating it for my 1000 HBD goal ;)
Some great advice my friend @ph1102 have a successful week ahead in all that you do.
!ALIVE
!BBH
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@ph1102! You Are Alive so I just staked 0.1 $ALIVE to your account on behalf of @ heartbeatonhive. (3/30)
The tip has been paid for by the We Are Alive Tribe through the earnings on @alive.chat, feel free to swing by our daily chat any time you want, plus you can win Hive Power (2x 50 HP) and Alive Power (2x 500 AP) delegations (4 weeks), and Ecency Points (4x 50 EP), in our chat every day.
@ph1102! Your Content Is Awesome so I just sent 1 $BBH (Bitcoin Backed Hive) to your account on behalf of @heartbeatonhive. (3/50)
Thanks for your curation! Have an awesome week you too!
I think it's good to move out if you don't believe in the project because of those red flags.
Also the hive engine top tokens being SWAP tokens is a surprise to me.
Thanks for the running the pool and for the BEE/LEO tokens.
It looks like many people are using them to deposit and withdraw tokens to/from the HIVE ecosystem... IMO, that's good that we have alternatives for CEXes...
I’m glad you could even notice those red flags
It would have been a different story story by now
Well, the story isn't finished yet... Maybe it was good, maybe it wasn't... Time will tell, but it isn't worth the risk, for sure!
We might be seeing hive making some massive move upward still soon
Great research done, and nice sharing it. Keep it up.
!ALIVE
@ph1102! You Are Alive so I just staked 0.1 $ALIVE to your account on behalf of @ oasiskp2. (1/20)
The tip has been paid for by the We Are Alive Tribe through the earnings on @alive.chat, feel free to swing by our daily chat any time you want, plus you can win Hive Power (2x 50 HP) and Alive Power (2x 500 AP) delegations (4 weeks), and Ecency Points (4x 50 EP), in our chat every day.
Those are serious signs of an abandoned project. It's the best choice that you pulled out, given what you found. Many become delusional and keep going despite all the warnings. It happened to me with a few defis in the past, but always with small amounts, luckily, maybe that's why I didn't care.
It's not abandoned 100%, but those are definitely not good signs... And I did the same as you many times... Giving more time, believing in the impossible, etc. 😂
Very informative and educative post, thanks for sharing. Best wishes.
Striving to solve my problems ❌
Ignoring my problems and waiting for them to go away. ✅
I think this is exactly what the project you are talking about is doing haha.
Bull season got people moving, man!
Exactly like that... Ignore it and it will pass... NOT! 😃
Oh, man... This is just the tip of the iceberg... You will see what the real bull market looks like when your neighbors will ask you about crypto... 😃
Nice share! After my experience in the past few years, I feel that I am more comfortable just focusing on BTC as the bulk of my exposure. The rest are just for learning and experience, or in the case of memecoins, for the fun of it!
!LUV
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I suppose that comes with experience... After chasing some 100x, it is better to stick to BTC take 2-3x (or more), and maybe play around with meme coins with some under 1% portfolio money...
Yeah agree!
Thank you for sharing your advice with the community!
Glad you got out of that project. !ALIVE
@ph1102! You Are Alive so I just staked 0.1 $ALIVE to your account on behalf of @ ironshield. (5/30)
The tip has been paid for by the We Are Alive Tribe through the earnings on @alive.chat, feel free to swing by our daily chat any time you want, plus you can win Hive Power (2x 50 HP) and Alive Power (2x 500 AP) delegations (4 weeks), and Ecency Points (4x 50 EP), in our chat every day.
We will see if it was a good decision or bad in the next few months... :)
But, in either way, it wasn't worth of risk...
That's a good suggestion and eye opener as well.
Thanks.
#aliveandthriving
You are welcome! Glad if it helped!
^^
good post
glad you made it out of critical situations soon enough :) !
it wasn't too critical, but it was a time waster
It is a fact that we have learned many things from the market in the last two years and now we understand something about this market that those who had patience are getting a lot of profit. We got to learn a lot from him and we will definitely apply it in our life.
Thankfully at this point I'm immune to crypto FOMO. I keep building, growing, saving, connecting, and posting, every single day here on Hive (and three other sovereignty-driven blockchains) regardless of what the fiat values of the coins or tokens in those ecosystems are doing. Most crypto projects sadly are not worth my time, or anyone else's, so I'm very, very, very picky about those in which I involve myself.
Congratulations on the success of your pool! It's great to see! Have a marvelous Wednesday, @ph1102! 😁 🙏 💚 ✨ 🤙
That's great to be! I mean, FOMO immune... :) It can be crucial in building your account and portfolio!
Good luck and thanks!
Thank you much, and yes, I've found it very useful indeed! Thanks ever so much again! Of course, you're very welcome! 😁 🙏 💚 ✨ 🤙
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Thanks for all the useful info! I pretty much stopped thinking about Crypto during the bear and just parked all my crypto wherever they were. It's just so much to keep on top of! This time round I'm going go for a way simpler approach of keeping everything in 2-3 coins (even on Hive - maybe max 5). It's basically a job to keep track of otherwise - but I guess that's where you come in!
Keep up the great content!
Thanks for the comment! Yeah, it is overwhelming and in every bull cycle the amount of tokens multiplies by 5-10, which makes it even worse...
The idea of keeping it simple to 3-5 tokens is a good choice... While I do have more than that, my final goal is to shrink my portfolio at the end of the bull to 3-5 coins... :)
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