How is my $WOO stash doing?
Sometime in Nov 2022, I bought in 2001 $WOO and have them staked. You can read about it here.
WOO is associated with a wrestling game which can be found at https://play.wrestlingorganizationonline.com/.
Today I claimed my staking rewards, after slightly over 2 months. It is about 793 WOO.
That gives me a total of 2,793 WOO.
(2793 - 2001) / 2001 x 100% = 39.32%
So there is a 39.32% increase from $2001 to $2793!
39% over 2 over months! That's fantastic!
But wait!
Let's check out the HBD worth of it.
My check at the Hive-engine.com exchange site today suggests the following if I were to sell all my WOO:
I will get back 3.35 HIVE!
In HBD terms, it is about $1.18.
Checking my previous post feels like I am already on the ground.
When I bought it, it costs me 5 Hive, or $2.44 in HBD terms.
Ok, I have made a loss, though I have more WOO now.
Nay, the amount is small and inconsequential. I take it as a tax I pay to support new game development in Hive.
In case you are interested to know how the price action looks like, I have provided a view for you below.
It's looking pretty depressing. I don't play the game, so I don't know what's the development like there now. Just happy to support them by staking my stash of WOO.
Join me?
P/S: This is not financial advice, and please do your own due diligence before investing.
If you read this far... and if you are a like-minded Hiver who is on the path to learning more about Hive and crypto investing, and if you like to be tagged when I write such posts, I welcome you to leave a comment below and let me know. We can form an alliance to support each other's growth.
You might be interested in this post, @graciousvic, @deflacion, @jacoalberts, @young-kedar, @svanbo and @hankanon!
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That´s typical! I am currently writing a post about it!
If the staking rewards are paid out in the same token as the one which is created in first place out of thin air and full of inflation, then it is worthless. Almost predictable outcome.
I bear the hope that things will improve as I keep stashing it. But no more further investment into it.
I am looking forward to your post about this issue!
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GLX is similar. Lots of hype. Then, quickly people started selling and with the staking inflation, it dove very quickly. GLX has stabilized at $0.03, and I sell it every day.
Arrrgh! Thanks for sharing. It seems like a norm and the thing to do is to sell them once the staking rewards come.
But since my stake is so small. I will just continue to write posts to grumble about it and let the curation rewards mitigate my losses. !PIZZA
Chaos packs are similar for me. I make just enough on posting a pack opening to cover the loss. Surprisingly to me, Chaos packs have recovered some in the last few days.
GLX will be huge. Despite all the selling, it is pretty stable at 30c.
I suggest to keep some, I expect it to go way up after the launch! Don´t forget that for buying stuff in the game you need GLUSD and the only way to get it is to burn GLX!
Is there a scheduled launch date? I should probably buy back in, if the launch is soon.
Thanks! I will look to buy back in around end of Q1.
if the price of BTC goes up a lot maybe it will help the price of woo go up again.
It's a speculative bet indeed. !PIZZA
The underlying flaw remains - a huge, intransparent inflation.
yes that is true too, unless the dev doing something or if btc price can increase i think will help woo price. like happen in any other coin before like shiba inu, doge coin when the btc price pump so much.
and many other crypto which fundamental is not clear. But yes not good for investing. very speculative bet, cause we don't know when crypto bear will over.
I think W00 token has seen its bottom and the way it's going up, it could give good profit in the coming days. As the dominance of BTC will decrease, Alt coins will start pumping. If btc breaks 25,500, we will see it comfortably go to 30,000. And hive will pump bitcoin by following it well.
That sounds like a piece of good news! !PIZZA
Yeah man.
I think that it's always important to understand how a project is working.
When you look at the graph, you see a climb towards the 31th of October. When you read @wrestorgonline his announcements posts, I think you know that at that moment the generale sale was happening which was paid in $woo. So towards the sale, the price was climbing. There was more liquid $woo than available packs, so people decided to sell off their leftover $woo.
As in the comments is mentioned, it's quite normal that value decreases as at the moment it's an inflationary process.
BUT it is important to look at the use cases for a certain coin. It is said a couple of times that WOO will be needed for upgrading their land plots (called cities) of which the presale starts the 14th of February. As the price of $Woo climbed towards the gen sale, as that was a usecase, I'm sure it will climb aswell towards the game launch as that will be the biggest usecase for $Woo.
By the way: the 'mass-inflation' mining rewards are stopping in June/July aswell, so the inflation will slow down big time around that time aswell.
As always, it's kind of speculative and this is just my opinion :)
!PIZZA
Wow! Thanks for your response. Indeed, I don't know much about the project. Seems like some interesting developments coming up. I shall stay the course!
I don't just want to convince you, I would rather challenge you to check it out if you would consider investing in it ;)
🤣 challenge accepted!
That is often the gamble we have to take ey.... Risking the value of one coin to gain more of another coin.. Thats how the game is played I suppose😅😎aslong as you keep faith i what you had faith in
The more WOO you will have in the future, the more you will be beneficial, just hold them until the price goes up in the bull market.
Definitely worth considering!
With "claiming" you mean that you decided to cash out the WOO?
What made you decide like this? in general the markets are low, so the value of your WOO would be likely to go up? I mean that would be my behaviour if we were talking about a "normal" crypto...
In my experience of ingame crypto (in the so called Play2Earn games) I've learned however (like I mentioned in a comment a few days ago) that these crypto till now only loose value... So that would mean it has been a good idea to sell and not loose more.
Do other readers here have different experiences with in game crypto? !LUV
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Nope. Claiming means unlocking the staking rewards. My woo count gets a boost and then I stake all of it.
I am not selling them.
That's what I was already "hoping" ... Selling crypto now wouldn't be the best decision I think...