We're in an interesting market cycle not seen before, and it's making all of us rethink how we approach things. I like to offer silver in exchange for HIVE to my fellow #silvergoldstackers community members when I'm lookijg to buy HIVE. Sure, I could buy it on the exchanges, but there are extra steps, fees, and it's also not as gratifying getting to hear back from my fellow SGS members about how much they like the new addition to their collection.
(Created with Playground)
It's been many years since we saw $50/oz for silver. It's such a huge increase over what we're used to that people are rushing to sell their silver.
It's even caused disruptions in the refining market. Many refiners aren't interested in refining Sterling silver and lower purity silver. The refiner I use is quoting up to a 4 month wait time, which is unheard of.
(Source)
Where it gets more challenging is HIVE price is currently hovering at around $0.10, so with silver at $50/oz it's 500 HIVE for one ounce of silver. In terms of HIVE, that's pretty steep and most people don't have that much sitting around liquid.
(Source)
I guess for now I'll need to sell some silver and buy HIVE from the exchanges. It's a little bit more of a process, but I want to get more HIVE to power upwhile it's cheaper. I can't predict what HIVE price will do, but knowing my luck it'll go up right before I try to buy some if I wait much longer.
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