The Hive tokens from the hardfork that happened a few days ago just fell into my Binance account!
Remember that Binance was one of the premier exchanges to support the fork? Well, I also tried to partake in the fork and equally had a plan which I uploaded onto this site right on this blog. I did advice that no one follow that procedure, but if you did rebel and follow it, you'd be pretty happy right now!
Basically, I planned to get in and out of STEEM right away, and get the Hive tokens for free. That plan worked perfectly, and I even got $1 in profit on my trade!(considering that the risk on this plan was so high, $1 profit is more than enough)
You can read the full details of my plan here.
That aside, the tokens are safely in my Binance Hive wallet.
While I can neither send nor receive the tokens, I basically received them for free, and I'll tell you how I plan on maximising them (and making a shit ton of money from it, and possibly becoming a whale in Hive)
But first, some stats on the token.
The Hive token has currently been listed on the Bittrex exchange. If that isn't good news for the token, I don't know what is. Trading pairs include HIVE/BTC, and HIVE/USDT, for which the current price is 0.18USDT.
A couple of my stats before we get to my plan. If you read my article where I listed my plan to get the tokens for free, your remember I was able to get about 200 tokens for free. That's a free $36 or so, although my risk to reward would have been crappy should the plan not have worked out.
However, I will be holding off till the ATH price has reached, before I sell off my tokens for a higher price. The ATH of STEEM was about $8 or so, so I expect this token to reach at least $5 for its ATH. Should it reach $5 in price, I would then get a free $1000 in my account, just for taking a meticulously calculated risk.
These are all just speculations though. This thing could fall to $0 tomorrow, and that would really suck.
So how do I plan on becoming a whale?
Whenever I mention the word "whale" in any of my posts, people seem to find it funny that I think it can actually happen.
But I'll give out my plan anyway.
So I plan on selling the token at its ATH. How would I know when ATH is reached? Well, usually, when a token hits it's ATH, it tends to have a massive sell off right after that. But that sell off actually starts within the ATH candle. So once I notice that there is a really high price that people are trying to avoid, I set my sell order a little bit below that price and get filled by the really bullish guys.
Usually, after an ATH, there is a really big correction to what is known as an ATL. The price proceeds to range in this region for days on end.
When this inevitably happens, I will buy back my stash at a lower price, thereby doubling my stash in volume. I would also be dumping ALL my Publish0x earnings for the next 6 months on the token. I would still trade the token to collect some free coins in it, and I hope that all these combined efforts make me a whale.
It's wishful thinking, but so was thinking I could get the token for free.
Thanks for reading my writing guys! And thanks for 977 followers!