EDITED - Why I am buying Steem now before the Hive fork

in SteemLeo6 months ago (edited)

Hi everyone,
this will be a short post, but I wanted to quickly outlay my trading strategy going into the Hive fork:

I believe in the future of Hive and want to be a part of it. It might not be perfect, but I am convinced that it will be far better than what Steem is today. Therefore, I have decided to build up a significant amount of Hive.

Given that it is currently not possible to buy Hive - as this does not exist as of now - I have decided to buy Steem ahead of the Hard Fork, which will happen at 10:00 EST on the 20th of March 2020.

What is important, when you do this, is however not to use the TRON "buddy" exchanges Binance, Huobi and Poloniex. The reason is, that you will not be able to transfer the Steem you have on the account, into your Steem wallet - which is where it is needed to get the airdrop. I am using Bittrex and moving funds to my wallet moves smoothly. So far I have bought more than 30,000 STEEM and I plan to buy some more.

However, if you own Steem on Binance, you will have no chance to get any Hive. Therefore, I expect many users to sell their Steem on Binance, take the funds in Bitcoin and either keep it in Bitcoin or - if they would also like to receive Hive for their Steem holding - to move it to other exchanges and buy Steem there. I thus think that there is the possibility of a spike on some exchanges, while the price on others such as Binance are likely to fall. The spread between the exchanges is in any case widening already:

Will this work out? I have no idea and this is clearly no investment advise - just my personal strategy I am following.

I wish you all the best and Hive on,
Tim

EDIT: I have sold the Steem which I had bought earlier into the pump that happened. Let's see if it comes down again, otherwise I will try to use the money to buy directly into Hive later...

Posted via Steemleo

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I also wanted to buy via bittrex, but it wants to kyc me..

Any exchange without kyc?

I have given them my information - don't know if there is any exchanges left without KYC

Posted via Steemleo

I seen your post this morning and thought that may be a good idea. Looked at the price and Steem was around 12 cents. Fell asleep on the couch and just went and looked at the price and boom.
Screenshot_20200318091756_Blockfolio.jpg
This must be your fault!

My fault that you fell asleep ;-) No honestly, I do not know why this happens - especially as the price on binance is up so much as well. I have sold my liquid Steem and hope to be able to buy back cheaper later.

Timing for buying was great - for selling not so much ;-)

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