It's the first day of August today and every first of the month is celebrated as HPUD aka Hive Power Up Day. This is a day when many of us do power up for hive coins and try to grow their HP holding. HP is something that everyone wants to have as much as possible because this is not just a power instead it gives us a lot that we can use to contribute on this platform. For example, we can curate more posts and support more content creators. This also helps us to earn more curation rewards and if we do not have the time to curate manually then we can also delegate the power to some accounts and they pay us delegation rewards. Apart from these, the HP is also an important part of the governance mechanism. I mean to say we can use our HP stake to vote for witnesses. This take can also be used to vote for the proposals that many projects are asking for some funds so that I can develop the project, and this HP stake plays an important role in all of this.
Power Up Day is On...
I was not sure after time so I checked for the countdown in hivebuzz and this is what I can see as of now when I'm writing this post. Currently, there are almost twenty hours left for this day and this is plenty of time that anyone can follow to get the power-up done. Checking out this time is important because if the power-up is done within this time then a badge will be issued. That batch is good because if one participates in the event then it is good to have that badge.
I have powered Up
I have powered up with 101 Hive. I'm not able to participate regularly in this event but maybe in future, I will try to be more active in the participation if it is possible for me. I just do random power-ups whenever I feel like there is some liquid token that I have and then I just power up and most of the time I don't wait for the HPUD. It's always good to grow the HP holding and this time the price is low can be an even better idea to grow it faster.
My HP Holding and further plan
As of now, I have over 66K HP (66502 to be precise) and for now, I want to make it 70K. This is my next stop from the current balance but obviously, that is not going to be the end for me because now I have thought that I should grow it further and take it 100k HP. Again, I wanted to have 50K, but that goal was achieved at the beginning of this year and thereafter I added another bunch of HIVE that I purchased from the market that helped me grow my HP holding faster. I wanted to buy more points and the price was around 16 cents but I couldn't do this because the price did not stay there for a long time since then I have been waiting for it to happen again so that I can buy another bunch.
If the price drops further and goes into that range, then I am going to buy more hive from the market and power checking is going to be good for me because I'll be able to grow my HP faster and 70K HP will not be far away from me.
I think we need more participation in such events and this way we are helping the platform to grow because we are reducing the liquid token supply through power-up. Hive is undervalued this time when the market is low, but I believe once the market recovers and bull running starts then we are going to see a significant rise in its value, and it is better to be prepared now rather than later because it might not be possible to buy more when the price is up.
Thank you
Posted Using InLeo Alpha
