Blockchain tokens provide a pleasant surprise…
Forgotten blockchain tokens led to a surprise today.
This is Steemhunt:
Users receive upvotes for cool tech products or services.
Those upvotes via the Steem blockchain provide a tangible reward that can be exchanged for their local currency or spent as is….
On Product Hunt, hunters get internet points. A feature on Product Hunt can be a massive deal to a new start up.
… except Justin Sun attacked the Steem blockchain.
Steemhunt was a great way to earn extra Steem by being a moderator. Every day I would log on, and moderate the posts… making sure that the hunters had followed the guidelines correctly.
Each day our moderation comments got upvotes in Steem.
Each week we received bonus HUNT tokens as a thank you.
We had a good little group, and it was really fun. I enjoyed learning about the cool gadgets. The developers automated the moderation process after a year and we said our farewells.
I’m not sure know how long ago this was… I kept an eye on them…
… but honestly I mostly got distracted by other things.
At that time, the price was $0.002 per token.
That’s right… you’d need 5 tokens just to get 1 cent.
I never considered selling them…
A few months ago the blockchain token wallet attached to Steemhunt was to be shut down and I moved all my tokens to MetaMask.
A lot of people who didn’t get the memo ended up losing their HUNT tokens.
Which, ah, of course, didn’t hurt the burning of HUNT tokens, making them more scarce and driving the price up.
IdeaHunt is no longer in the team’s whitepaper. It’s a shame, it’s the platform I was most excited about.
I don’t know what the team’s direction is now… and I hadn’t thought about it at all, until I saw this post:
Which lead to this post:
Ultimately I was lead to Uniswap directly to see this:
That’s pretty small, but the interesting bit is this:
The token that was worth $0.002 is now being purchased at $0.0314.
Those two posts started a landslide of sales, with the price dropping from $0.036.
After all, when someone tells a group they just made 10 ETH (approximately $4k in value) on a token everyone had forgotten about, it’s going to affect the price.
The surprise that I mentioned at the top of this post?
Turns out I have about $14k worth of these tokens.
As with everything, this could go to $0 tomorrow. The process of cashing out is pretty arduous, you can only do a small amount at a time, and I could potentially affect the price myself if I wasn’t careful.
I’m actually going to wait for a while on this… a ton of people have been selling, so I’ll see if the price recovers again.
The platforms are still in operation so I imagine there is still some demand for HUNT tokens, therefore I’m happy to wait and see. It’s easy to be patient on something you forgot about.
The moral of this story… collect all the tokens that you can. You never know when once of them might just work out for you.
Thanks for reading!
Let me know if you have any questions down in the comments below…
Please note : The above post may contain affiliate links.
Below are some product referral links that I love and will benefit us both if you’re interested.
Splinterlands – A super fun blockchain card game that I play almost every day.
Coil – A $5 USD monthly subscription fee provides you access to a ton of content and sites in a way that fairly rewards the creators of that content.
Exxp – The WordPress App to link your blog to the Hive blockchain.
NomadTask – Earn for completing online tasks like following accounts or completing reviews.
MINT Club – Create your own Smart Media Tokens with no coding required.