Just look at that nice number... Since today have over 30,000 HP! I've never had this much Hive power before.
If you want to read how I've done it and what my future plans are.... just read on.
Investing in crypto
I've been hanging around on the Hive blockchain for over 4 years now. I was already a littlebit into crypto coins at that time. I was intruiged by the fact the values of coins could increase (and decrease) that fast so you could gain some wins. I spent a small amounts of my savings to buy and trade some coins over a year or two. In the beginning it went pretty well and I multiplied the value 5 times, but with the first large dip it dropped back to the value it was when I started. I discovered I wasn't really good at it.
Then somewhere along the way I discovered Hive. Earning crypto by creating content seemed very interesting to me. As an amateur photographer I could create some nice blogs and I saw how much Hive some posts received. So I created an account, converted the crypto coins I had left to Hive and used that to power up my account.
The Hive Blockchain
The start on the Hive blockchain didn't go as smooth as I had expected. The first post received quite some rewards, but the ones after that received very low rewards. That didn't measure up to the effort I had put into it.
But I soon discovered I needed to give it some time; I kept blogging, engaging and investing in my account.
Over the years I've used some of my earnings to invest in some projects; both on the Hive blockchain and some on other blockchains.
When I spotted a project that looked promising, I converted some Hive and invested in the project. Some of those projects paid off, but most of them were rather hyped. Just like with the crypto trading I did in the past; I won some, I lost some. My Hive stake didn't grow faster (as I did expected it to do by investing in promising projects).
For the second time I came to the conclusion that I'm an emotional trader and therefor sensitive to FOMO!
But my Hive account did keep growing. I kept powering up my Hive and after a few years I even managed to become a Dolphin.
HBD
After unsuccesfulyl having invested in a couple of projects I decided to play more safe. I took my crypto out of the failing projects and converted it to HBD. HBD was pretty stable at that time since it is pegged to the US Dollar. And moving it into the HBD Savings resulted in a massive interest of 20% per month. I've even powered down quite some Hive to convert it to HBD too.
For months I've kept compounding my HBD and move it to my savings. My Hive payouts were 50/50, so I also did keep growing my Hive stake.
At a certain moment I had over 3800 HBD which resulted in a monthly reward of 63 HBD!
But then, last month the witnesses lowered the interest rate to 15%. That would still mean I would receive 57 HBD per month. Especially when I compare it to my normal savings account where I get 1,75% 😂
But there was another aspect that made me decide to change my course.... the price of Hive.
Hive price drop
I was a bit disappointed that the interest rate on HBD went down by 5%, but 15% is still a massive amount. And to be true; 20% really was a bit too much. And at the same time the price of Hive kept going down. When the price was about 0.17 USD I did some thinking...
I can't remember the price of Hive being this low. And crypto always has it's ups and downs. I took a look at the Hive charts for the past months and I saw we've had some highs and lows. The highest peak was 0.475 back in March. A few year ago it even spiked over a dollar, but I don't see that happening very soon again. But Hive is not a dead project, so I do expect it go back up again sometime within the next year.
And when it does go up, I'll have more gains than with my 15% HBD. Yes, HBD is a safer choice and I can get it out of savings much quicker than a power down on Hive, but I don't need the money right now and I'm still in here for the long run.
If the price of Hive will go back to 0.475 USD that would mean a growth of almost 180%. That's quite a lot of years of holding HBD in your savings account.
So I decided to withdraw my 3800+ HBD, convert it to Hive and power it up.
So now let the price of Hive grow again!
Curation Rewards
One of the advantages of having a larger stake is that you also gain more curation rewards. My current vote at 100% is a pretty 0.25 Hive.
And when I look at the statistics of the Curation rewards I received last week I see they are between 1,189 en 2,275. The average amount will be sommething like 1.75 Hive per day. Which isn't a lot when you see the price of Hive at the moment, but it is nice to grow my stake even more.
Since the amount of staked Hive I have has grown with 336%, my vote value will grow that much too. That means I will receive about 5.88 Hive per day within a week. And that's really nice 😃
It's not only nice for me, but also all the posts that get my upvotes. I have some auto-voting configured, but I also do some manual voting. Since I have more voting power I think I will lower the amount of auto-votes and do some more manual voting, so more people will profit from my grown stake.
I'm curious what the future will bring, but at least I can sit back, relax and keep on having fun on the Hive blockchain with my improved stake.
FriendlyMoose
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