How HIVE and other cryptocurrencies going down in price has affected me
A whirlwind of a year 🌪️
2022 started off with most cryptocurrencies being close to their all-time highs. HIVE was around $1.50 and my account was valued well over $100k, but now HIVE is back down to $0.28. BTC was at $50k and now it's back down to about $16k.
The year has been a downward trend almost the entire time and things just keep going lower and lower. Nobody seems to know where the actual bottom will be. We are now seeing prices that many had assumed would never be witnessed again. It's difficult to watch it all unfold and even more painful when you are somebody like me who made the decision to live off of crypto at the end of 2021.
I must admit, this has been the best year of my adult life, but things are far from perfect. There are many in the same situation as me, but I can say that I for sure have been affected tremendously by the loss in value in the crypto markets.
We can try to blame it on SBF and FTX, people in power controlling the price, or a number of other reasons. I won't try to say what has caused this to happen, but it has happened. My lifestyle has had to alter accordingly.
Where is my money❓
Even though prices are down, bills and other essentials still have to be paid. For most of the year, I've made enough off of post/curation rewards on Hive to get by. At this point, it is getting to where I will have to spend more than I am earning to keep living my life.
I had already accepted that my Hive Power wouldn't be growing as quickly as it had been in the last few years. I thought to myself that it may not grow at all, but that would be okay as long as it stayed where it was around 70-75k HP. I had already earned so much in 4 years of daily blogging that I was happy with my total.
The idea of watching that number plummet is just not something I'm okay with. I've spent way too much time and energy building up my account to just watch it all dwindle away. This means I must find a supplemental income to prevent myself from taking significant losses. I'm still so glad that I quit my old job and I will never go back, that shit was torture. However, for the time being, I don't think it is smart to rely solely on crypto to get me by.
What will I do❔
Luckily for me, there are many options here in the USA for me to make some decent cash. Many of which do not even require me to go through a rigorous interview process or have any experience in the field at all. My hope is to make enough to cover my bills and other necessities, then maybe have a bit extra to buy some HIVE at these insanely low prices.
How might I do that you say?
My first idea was to start shopping for people through Instacart. I've known a few people that have done this and made some pretty good money in the process. It seems way more enjoyable than something like DoorDash. I got signed up recently, but now have to wait on a company credit card to be delivered so I can start working.
There are several other things I could do if Instacart doesn't take off right away.
Driving with Uber or Lyft is always an option. Although I have a great car and love driving it, I don't really want to go this route. My biggest fear is that inconsiderate people will get inside my car and make a mess of it. I've had it for 10 years and it's in great condition still. The back seats look like they've never even been sat in before. Plus, putting a ton of extra mileage on the car is less than ideal.
Of course, there is driving with Instacart too, but people won't be inside of my car and I will be able to choose which orders I take. If you have any experience with Instacart, please feel free to comment below with any advice that you have.
There are many other delivery services out there worth trying, but I'm starting with Instacart and look forward to seeing how it all goes. It certainly will be far more enjoyable than working a 9-5 for an employer that hates you and wants to control your life. At least with these rideshare and delivery apps, you get to make your own schedule and work as much or as little as you'd like.
Am I worried❓
In the short term, yes of course there is some cause for concern about finances. Am I losing sleep over it? No, I am not thankfully. Things are not yet at catastrophic levels and I still have enough money to survive. The goal is to prevent worse things from happening and to act sooner rather than later. I still believe that the crypto industry will see tremendous growth over the next few years. Sure, most of our gains have since been wiped away, but we are still higher than we were when I first started all of this.
In the long term, I think we will see higher prices than our previous peak. I expect crypto to bounce back and continue to expand in big ways. There are going to be a lot of projects that fall off the map. Many didn't prepare well for this. That means that a lot of the bad actors will get squashed and vaporware projects will exist in lesser numbers. I can't promise that people will stop supporting meme coins or buying shitty NFTs.
My confidence is still high and I believe in myself to always find a way. I'm nowhere near my breaking point and I'm glad to have continued to remain consistent with Hive and crypto in general despite the many ups and downs. Remember, this isn't the first time that we've been stuck in a terrible bear market. Eventually, the bull will arrive and remind us why we are here.
I've cut back on my spending big time. I haven't been traveling much at all. I avoided falling into the trap of buying too many Christmas gifts. I only purchase the bare minimum at the store and have even started to buy cheaper meat to cut costs. Eating out on weekends is still costing me, but I think it's essential for my happiness.
At the start of this year, I envisioned myself spending most of the winter staying at some cool Airbnb by the beach instead of being stuck here at home where it's cold as fuck. That definitely isn't happening, but I have still found ways to stay satisfied with life and I know that my time of complete abundance will come one day.
Any other ideas 💡
I would also be open to joining some type of team in the crypto world. The thing is, with all prices down so badly, pretty much nobody is hiring. If they are, it is for positions that I have no expertise in.
If there is a project on Hive that is funded by the DHF and needs somebody who knows how to get shit done to work with them, hit me up. I find it unlikely right now though because I've watched so many projects absolve recently. You never know though.
If you have any other recommendations please feel free to drop a comment or message me directly on Twitter or Discord.
A lot of things I will shoot down right away. I refuse to get back into the routine of hating what I have to do daily. If there is something that I am passionate about or just happen to not mind doing, I may be interested.
Good luck everyone 🤞
I hope there aren't too many of you who are down so badly that you have lost all hope and don't know what to do next. Things are going to get better, eventually. It's going to take time and if you are willing to stay active on Hive until we see brighter days, then you will surely be rewarded for it. Please don't give up. Things may not be quite as grand as they were at the beginning of the year, but we are still alive and have a chance to thrive.
My NFTs: https://inji.com/@daltono/nfts
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So far I have not cashed out any hive and I hope that I will not have to do that any time soon. Even still current prices are a bit depressing.
Best of luck.
I was able to do that for over 4 years and am so glad I stacked up as much as I did. However, I took a big risk late last year and lost my fiat income. It worked smoothly for a year, but now I'm being more cautious with these drastic lows. I know the sun will shine again, but no idea when so I figured it makes sense to get to working on a second thing to rebalance my finances.
You look very optimistic and are always open to all the opportunities that will be in front of you.
Attitude is the basic capital of a person, actually. Instead of complaining, we should face the situation, which looks worse now. But every problem has a solution, right?
Your post is an encouragement to many people, Bro.
May you always be successful.
It's hard to not be optimistic when in the broad scope of things it's been a forward momentum in crypto. I am usually pretty positive about most things though.
I know there are a lot of people feeling uneasy right now, but don't let that fear force you into submission. We can find a way to survive nearly any circumstance.
Yes, my friend, many of us are in the same situation, so yes, while we wait for the final takeoff, we must find other options to make our money work much better.
No matter where we live in the world, it is affecting us all in some way or another. I just hope that in other parts of the world outside of the USA there as many opportunities to earn a decent income.
here there are not many opportunities but it is what we have for the moments there the importance of #Hive in our daily lives
I believe that, but we always have an opportunity to choose to be happy no matter what we are forced to endure.
The whole world is messed up right now. I don't have any better ideas that what you've outlined above, but I do know that you will come up with a way to supplement your income without spending your stake. You're smart that way...plus you have the right attitude. Patience is key.
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You’re right about that, it’s not just crypto that’s hurting.
Thank you for the added boost in confidence. Surely we will keep going strong.
You know, man, you're the first thing I thought of after these last falls. Because I knew you weren't working and you were doing crypto for a living. I was thinking about what's going on and I forgot to send you a message because I've been a bit busy lately. I'm glad you're doing well, even if things are going badly. Like you, I don't mind the market downturn too much. It's annoying in the short term, but in the long term things will be better. That's what I believe. That's why, as you said, the people who are with us now in this bear season will be rewarded in the bull season.
I appreciate the sentiment bro. Luckily I’m not scrambling to get get by, but some adjustments definitely had to be made in terms of what I’m doing with my time and money. We surely will find great rewards later down the road for sticking around through more lows. I hope you manage to navigate through all of this safely too 🤗
same here, trying to be positive everyday regardless how shitty some days are
If we sit and dwell about prices every hour, then we are surely doomed to be down about it more than we need to be. This is a great time to distract ourselves with many other things to enjoy in this world. Whatever it is you love doing, do it more and this time is bound to be more tolerable.
Your assects almost down 50 persont but my investments almost going down 90 persont because i have invest my all money in one gamified project. I know every coin take his position just wait for bull market. Panic selling gives you huge loss. Hopefully no one sale his coins in bear market. I will not sale my single token. Thanks for sharing your valuable review about market.
I hope that the game project you are invested in turns around along with HIVE and BTC.
Hope so😭
2022 will be a memorable year in the crypto space, getting a series of punches on the face. I don't know if it's a blessing or a curse to join during the bear market but I'm keeping at it because the knowledge I've learned and the understanding I've got gives me the inner certitude that things will eventually work out for the better.
Best wishes on finding a job or getting a new revenue stream, this is just a bump on the road and you'll eventually get passed it.
That's the right attitude. Your time has not been wasted learning everything you have and earning some crypto along the way. You will be ready for the next time we breakout in a big way. Stay patient and aware, I now I will be doing that.
Same here.
I wish we had instacart here...
Close to that too...
Kind of there.
Sounds like we both need to figure out another way to make some money, at least for a bit.
Sucks you don't have Instacart where you are. Are there any delivery service apps in your area? What about rideshare? Jobs without a boss sound okay to me.
Luckily I am easily satiated with the bare minimum at the store.
Stay up man, we aren't done for just yet. There is a lot of rebuilding to be done, but I trust that it will happen for us both.
My plan is simple, HODL and accumulate :)
That's an excellent plan for these times. I hope to do the same and that is why I am seeking an extra income currently. I don't want to have to sell a bunch of my crypto when it is valued so low as it is right now.
Still good for you to earn a living with cryptocurrency. Most of my posts are earning cents or a few dollars. I earned only $45.87 USD with Hive in the previous 30 days. If my life would depend on this, then currently I would be in a huge trouble.
My rewards have fluctuated over the years, but I can definitely say that in the beginning, I earned little to nothing for a long time. I hope we can both get to the point where Hive solves all of our financial problems. Having to worry about money is a serious time suck.
Ha ha, you are lucky, I got less than 45, around 40... but HIVEs, and i am thinking is my best year in getting HIVE.
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It's hard times in the crypto world these days. It's nice that there are options out there for you and others. People are able to take matter into their own hands these days and be self employed or freelance, so that's great. Good luck 👍
Many will abandon crypto and realize down the road that was a mistake. Now is the time to position ourselves to be even better off than we were at the previous ATHs.
I strongly believe crypto will still goes up
It will, but no telling when that happens. When it does, we are going to see some insane gains.
I am just the same, since the beginning of 2021 I live on cryptocurrencies, specifically trading, but I made a bad purchase without protecting myself in the fall of FTX and my capital was reduced by 40% in just 24 hours.
I fell very low, at the moment I have been taking out more than what I have left of my capital, reducing expenses and seeing how I fall little by little, because I have had to spend more than I earn, similar to you.
I also imagined another outcome of my life for these dates, it is sad to fall, but you have to be strong, I have gone through a lot of stress and that is not good. I recommend you not to be either, everything will pass and it is a learning process for the future.
For the moment it is time to look for new income and continue in cryptocurrencies, but without depending on them.
Greetings and I hope you do well.
That is painful that FTX affected you so much. I am thankful that I never got involved with that platform.
Falling like this just makes our next rise that much more valiant.
I thought of this one as I read..
u seen it? I think all those.. uber, lyft, in Philippines it was called Grab. and also Shipt, (liked instacart.. they deliver all my target groceries), and also Doordash, uber eats, etc. all those services are really great and do pay good for the time invested and also don't require special training. yet, as a disabled guy.. they make my life SO much easier too..
Crypto just really sucked this year. no real nice way to say it, but yea, i guess it's been bull for so long, that now it just has to be bear.. :(
No matter where HIVE is in price, it definitely beats killing urself working a dead end job that u hate! I don't regret anything about the money I put into hive or the time I spend on this awesome platform!
btw, what's ur discord name? i wanna add u on there..
Daltono#5080
I had not seen that one before, but it is very entertaining.
I also signed up for Shipt, but it's not at the top of my list of things to start doing. There really are so many options now. I'm glad that you can make use of these services to make your life easier.
Crypto has done nothing but goes down in 2022. Well at least in terms of price. I'm sure many projects have made a lot of advancements and other ones are still yet to provide what they've promised.
💪😉🤙 yea! anyway, HIVE is running to $1 in 2023. 😁
You got this!
Just be careful with gig jobs that require your car.
Like you said, it puts a ton of wear and tear on it which eventually bites you even harder than when you started.
There are a ton of zero up front cost service based businesses you can start online, simply as a freelancer.
You're an English native speaking writer who understands the niche topics of finance and gaming.
Trust me, there are clients out there happy to pay whatever you want to charge for your services.
Just need to put yourself out there!
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I've definitely considered how much I want to drive around and push my car more than I would normally.
I have heard of many freelance sites... which one would be your personal recommendation?
Definitely Upwork because you can be proactive and pitch.
Everyone posting an ad are essentially warm leads who want to hire you, so just message 20+ people a day with your offer and you'll have a list of clients in no time.
Fiverr is the other good one, but you have to wait for people to come to you.
Meaning it's a slow burn and you get nowhere near the amount of work you'll need, especially starting out.
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I was just reading an article about Upwork vs Fiverr. I will create profiles on both and see which experience I enjoy most. By the way, you describe it, Upwork sounds more my speed.
I am on disability and I can't work. Further I can't drive or anything so gig work is out of the question for me. Fortunately, I have family that I can rely on, but I am pretty much in the same boat as you. I also have a 13 year-old who is a money pit L O L. I definitely feel this post. I was expecting $100,000 BTC, and a five dollar hive price...
That sounds torturous. I can't imagine being restricted in so many ways, I feel for ya man. We both are lucky to have a wonderful family who will never allow us to go hungry or without shelter. No kids for me though.
Those numbers should happen eventually, but most likely not tomorrow. Never know with crypto.
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dude i'm sorry to read that, crypto winter is punching hard everyone :/ to you is even worse because you have more expenses that country is expensiver....
the best we can do right now is to get an outside job to not rely on selling our coins:( resist!
I pay a fine price to live in the USA. I was born here and haven't found the courage to jump ship just yet.
Luckily there is plenty of work around and I will do just fine, I have no doubts.
That's the adventage you have there! you can find any work that will be enought to cover your monthly expenses!!
for me living in venezuela is the oposite jejeje
OMG, how challenging is becoming the everyday life in Hive!
I am also beginning to feel broken. I got over 100K USD in value of investments last year. My plan worked on a couple of coins with rewards for staking (ADA,ONE...), in addition to some good trades. Unfortunately I got hacked and lost around 40% by January, coins were going down already. But it was painful anyway, at the moment of hacked it was around 28K. I was still in gains with my left investments, which I am taking care to use a Ledger Nano.
Anyway, I have not much in investments aside HIVE, as I have a feeling of HIVE and LEO and maybe others in the ecosystem will have a tremendous value, maybe before other coins out of the called Web3. So this year I am more focus on HIVE; posting, looking for ways to get rewards for staking, some little tradings...
I got an idea to do Video in 3Speak, thinking it will be more rewarding that posting. But I got discouraged as my three videos got nothing.
Two years ago I was tented to left my job, as my investment were enough to live, but I told myself: Life doesn't need to change so faster. Anyway, it was nice not to worry about money for almost two years. I took some profits investing aside: a little property in Philippines, an investment in a restaurant and some monies in a start-up from India. Hopefully any of these will balance my 2023. For now I am feeling everything is going worse. But of course I still believe on this technology and its great value in some years.
I am surviving with my job, but as I am not a full time teacher I depend on the classes and vacation is not so good for me (in this moment). Last year was no a problem.
I solved t not taking too much from invested (mainly in HIVE) with a loan last vacation. But things are just becoming difficult, and now I and trying to survive with the little amount of private classes... I am getting hard time to pay my credit card, maybe next is my loan. Still trying to take the less possible, but nobody knows when this bearish will end.
I got in worse situation on 2017-2018, I scarcely eat and survived on summer 2018. But my family was in Philippines. Now I have arrived to get them here in Hong Kong, it's kind of double worry. Hopefully we survive this season. I am trying to encourage myself and be more active in Hive to compensate a little bit this moment...
Thinking about your gigs you are looking for:
As you are good on things of technology, why don't try in upwork, it could be some gigs related to.
Good luck and Merry Christmas @daltono!
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I hope you learned how not to get hacked after that horrible incident. Seeing our favorite cryptocurrencies drop in price sucks, but also losing a large portion of what you hold to theft or user error is even more hurtful.
As for 3Speak, make sure you are in their Discord group. Here is a link to join: https://discord.gg/NSFS2VGj83
Then be sure to always share a link to your new video in the #video-promotion channel. I have found that this makes it a lot easier to get discovered by curators.
I'm glad you took the time to share your story with me. It sounds like you've been through a lot and are what I call "Battle Hardened". You will find a way to navigate through these treacherous waters, we are far from sunken. Find that positivity within and keep pushing yourself to do as much as you can to stay afloat. Crypto will see a beautiful sunrise eventually.
Thank you for the Upwork recommendation.
Merry Christmas to you as well.
Thank you so much for your answer.
I will rethink about the strategy to promote video.
Hopefully we can see the crypto 🌅 in some time.
2023 will a year of opportunities!
See you!
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many have been affected by the fall in prices but the important thing is to continue trusting that thanks to #Hive we will get ahead and have a better future
I have not lost hope and I look forward to when we all can have a big celebration to say "We made it!"
We're all affected but this is the best time to accumulate. Let's wait for a longer term.
You sounds giving a farewell on-chain for real!
I agree, time to accumulates. This is why I feel such a need to obtain an external income so I can funnel a portion of it into my Hive wallet.
That's cool. I have the same way.
Good luck man! I also was thinking of you in these downward trending markets and as much as I want to get Hive for cheaper prices, I also think of people like you who are working off the Hive income you are getting and don't want it to bleed more because it's more painful for you.
I know you do awesome work editing video and with adobe, perhaps try to dabble in that a bit for some extra cash? I think you've talked about it before but that's one where you can freelance and bring in some funds without having to leave the house.
I think rideshares are definitely not a good idea for most people because it offsets all the cost on the owner, where you are repairing the car, paying for gas etc. It helps in some ways but it's also more expensive in the long run so I don't recommend it to most people.
I'm rooting for you man! I want there to be ways for you to earn and keep your Hive account at the value it's at without having to struggle to get by.
I still have plenty to live off of, but am struggling to get rid of the scarcity mindset that I've had pretty much my whole life. That and yea it does suck knowing that if I had another solid income I wouldn't have to spend so much of my HIVE during times like this.
I've looked on Upwork and the rates people are paying are pretty ridiculous most of the time. Stuff like $5 per job. That may be a lot outside of the USA, but I can barely buy a case of cheap water for that amount, let alone pay bills.
I will continue to avoid rideshare unless a day comes when it is my last hope. I mean I just really want to continue to baby my car so it can continue to last me like it has been.
Thanks for the support bro! We all struggle some in life, but I remain hopeful that we both will have huge reasons to celebrate in the coming future.