Being Early Is Painful
Let's talk Splintershard.
I believe that it is safe to say that anyone who is holding some Splintershards is early in the game. The reason for this is because that anyone who joins Splinterlands in the next 188 days and purchases a spellbook (and I guess wins one battle or buys something) will get SPS tokens in the airdrop. There are literally more days left in the airdrop than have already elapsed, thus making it pretty likely we will see some new faces popping up over the next half year (even more likely with the smashing success of this general sale).
However, if you have been around SPS from the start you know that it has taken absolute price beating over the last few months.
Other than a bit of a pump in the middle of things, SPS has been on a steady downward path. I suppose that this should be expected as the supply is increasing each day with airdrops and there are still people making hundreds of dollars a day and likely dumping to accumulate assets like packs or cards. Nonetheless, it still hurts for those fools (?) who pumped in outside investment money in addition to what is received during the airdrop to take advantage of the staking mechanism.
I'm still a believer that this token will eventually make a turnaround as more use cases come out and when thousands of them stop being airdropped each day, but I really wish I dollar cost averaged into my position rather than pumping in $100 on a few occasions because I am down quite big on that investment. SPS is one asset that I won't consider selling until after the airdrop because that is where I believe the value will begin to form, but it still sucks in the short term... Oh well, crypto sucks sometimes.
In positive news the ratio of staked to liquid SPS is still really good at 1.186:1 showing that there is still faith that this thing will turn around. Who knows? Where do you think SPS will end up after the airdrop finishes? Do you think it can make big moves before that point? I'm skeptical on that...
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My name is Rob and I am a prospective law student with interests in cryptocurrency and blockchain. I have enjoyed my time thus far engaging with Web 3.0 and am looking to continue learning more and sharing what I learn through my experience
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This is true but when it comes to investing, often being early is better than being late.
If the project is solid, which Splinterlands is, the risk of loss should be low. While you can experience a temporary hit to the value of your holdings, it will be rather short lived (although can extend for years).
Of course that is presuming you didnt buy at the top of a major bubble like buying Yahoo at $475 a share.
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It's comforting to hear that I'm likely not screwed haha, I bought at $.80 then again around $.50 then $.35 and then a bit around $.25, but usually right after I bought it dipped down... Maybe I'm the reason
Nine thousand and seven trillion is the max circulating supply.. Holy fuck!
LOL I can't imagine it reaches that. When I made DUNK coin on Hive engine, we set a very high limit that would not be reached for 500 years or something. It's probably just to avoid ever having to fork to another coin
True.. I'm vary optimistic about SPS, but I'm focused on accumulating BXT rite now, because I think beeswap is an amazing app and the use of it will only increase going forward.
I did that with LEO. I bought all the way down to .04 cents. It allowed me to amass a ton of it.
Thus I looked very smart when the price skyrocketed to a dollar. SPS is likely going to be a decent token. I could be wrong but I dont think anything having to do with Splinterlands is going to end up not succeeding.
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The entire crypto market is getting some hit and same applies to splinterland. And with the airdrop and increase in the circulation of the token, the price will still struggle a bit.
In crypto, patience is key because with time, SPS will get back and go beyond it's ATH, so your accumulating now, would be worth it.
Nice article @rob23
The markets do what they do. It is important for people to keep building (that includes growing their bags) as the pullbacks happen.
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Exactly @taskmaster445ole
SPS will continue to drop because the supply provided to the market is greater than the demand for it. A lot of us know that SPS itself is going to be useful and it will have its own utility. However with so much being released, there is just way too many people who want to take profit. Once staking rewards become the primary way to get SPS, I expect prices to go back up.
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I hope the price rises for ya. :) yes, crypto can really suck at times, but just survive it to see better days! I was thinking how the price or value is subject to inflation cuz of all the new players.. like printing too much new dollars..