Saturday Savers 2023 Progress Report Week 19
It's that day again ! Time for my weekly #SaturdaySavers update....
If you're not familiar with SaturdaySavers, it's a fabulous initiative run by @shanibeer writing as @sally-saver on the @eddie-earner account, where we all support each other in getting to our savings goals.
Image by Adina Voicu from Pixabay
To start with, here's last week's progress table;
Observations on Last Week / Next Week
I'm not going to go into huge detail going through the table line by line, but I reckon it's worth picking out a couple of key points.
First is that although the only metric I'm failing on is EDS, it is gradually coming back closer to the goal. For that, I want to say a big "thank you !" to @shanibeer and @hoosie - the EDS and EDSMM's that are being given out as part of the Top Author initiative are being an absolute godsend !
Additionally, delegating to the @eds-vote programme is also starting to trickle them in. I've only delegated a little so far, as I like to keep my main vote value as high as I can, but probably after the next HPUD I'm aiming to increase the delegation.
Sadly, I blew my goal of getting a power up month badge on Hivebuzz this month; we had a Bank Holiday here in the UK, and real life got so in the way that I totally forgot to power up. D'oh !
Talking of power-up days, it's LEO power up day in 2 day's time. Are you ready ? I am !
Now on to the main thing I've been mulling over for the week. It's a simple philosophical question which I found a surprising number of angles for.
The question is;
Is it better to earn or buy Hive Power ?
What sparked this was a realisation that most of the Hive Power I've got is a result of spending Fiat currency to buy HIVE.
What is bad about this ?
- It feels like cheating - that I'm "buying my way in" and in the process, devaluing the effort of the people who earn their HP through the immense effort of regularly posting.
- That it could be seen as using my priviledge of living in a Western country and having a good life with decent earnings, in a way that Hivers in poorer countries have no chance of matching.
- That if the price of HIVE dips, the risk of losing money is far higher than if I had just earned it by posting.
But on the other hand, there are also good points about buying HIVE;
- It adds to the Fiat invested into HIVE and makes a small but useful contribution to keeping the price up and increasing it's market capitalisation.
- It is a concrete demonstration of my belief in the long term future of Hive, both as a cryptocurrency and as a Web3 ecosystem.
- Increasing my HP by buying it increases my vote value, and I can use that to help grow the accounts of friends (and current strangers !) from all over the world, including those in countries where the economy is too messed up to give them the opportunity to just buy HIVE.
- It helps balance out the fact that I don't have the time to post as much as many Hivers do.
- It preserves my capital better than just leaving it in a legacy bank to be eaten away by inflation; the rate of return is better, and the keys are my own.
So what do you think ? What have I missed ? Is it acceptable to buy HIVE rather than earning it the hard way ?
Posted Using LeoFinance Alpha
Of course! I can see each side of the arguement in a way, but don't believe anyone should look down on someone for "buying their way in," someones money and what they do with it is their own business, more power to them if they decide to invest that, (wisely imo) into Hive, where they can earn a much better APR than traditional banks, as well as curating, and as well as bolstering the ecosystem.
I have more or less grown my stake naturally, but I have put money into it too when I can. I'm planning on putting more in soon, mainly because I went a bit wild delegating to projects and I want to match what I delegated so I can bring my vote back up to a good size.
Thanks for the reply ! I'm with you on the "delegate like mad" problem - I did that as well, and it's taken a while of adding HP to get it back into a sensible ratio. The trouble is, there are so many worthwhile projects and people to delegate to !
I've never really understood your anxiety or assumption about what you call "cheating". There are many many opportunities on Hive and no "right" or "one true" way.
It depends on your circumstances, your attitude to risk and your interest/desire to create viable alternative economies. Depriving yourself, not investing in an idea, when you have the means to do so, does not help anyone else, anywhere else.
It is critical for Hive to have a healthy, robust middle layer of accounts - Orcas especially - to sustain and stabilise the chain and build its future. There are numerous ways you can support others in other parts of the world through Hive: delegating to communities, voting and sending tips to posts, taking part in lotteries (@combination), running community initiatives, becoming a community curator and moderator and I'm sure many others.
As for HIVE dipping in price: HIVE has a roughly four year cycle, following the Bitcoin cycle which revolves around the Bitcoin halving. It is a natural part of the cycle for the price to go up and down, and each part of the cycle offers different opportunities. When the price is low, it is the opportunity to accumulate and try a few risks that you wouldn't consider if the price was higher. When the price is high, it's the opportunity to get your stake back and re-invest it elsewhere.
Even your own list has more pros than cons!
Thank you ! I can only dream of getting to Orca level; it's taken me nearly two years just to get to a point where being a Dolphin is coming into view. But I'm going to keep working on it, the more I can grow my own account, the more I can help others to grow 😁
Nice update - glad to see things are growing !
I dont have an issue as to whether someone buys HP or not, with fiat. I dont do it, more because I'm tight ! But if someone else wants to do it I'm 100% ok with that, so all good !
!ALIVE
!LOLZ
!PIZZA
!PGM
@alonicus! You Are Alive so I just staked 0.1 $ALIVE to your account on behalf of @hoosie. (1/10)
The tip has been paid for by the We Are Alive Tribe through the earnings on @alive.chat, feel free to swing by our daily chat any time you want.
BUY AND STAKE THE PGM TO SEND A LOT OF TOKENS!
The tokens that the command sends are: 0.1 PGM-0.1 LVL-0.1 THGAMING-0.05 DEC-15 SBT-1 STARBITS-[0.00000001 BTC (SWAP.BTC) only if you have 2500 PGM in stake or more ]
5000 PGM IN STAKE = 2x rewards!
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Support the curation account @ pgm-curator with a delegation 10 HP - 50 HP - 100 HP - 500 HP - 1000 HP
Get potential votes from @ pgm-curator by paying in PGM, here is a guide
I'm a bot, if you want a hand ask @ zottone444
$PIZZA slices delivered:
hoosie tipped alonicus
memess tipped alonicus
@alonicus(1/5) tipped @tydynrain
Nice update !PIZZA
Congrats - you've been nominated as a contender in this weeks #satrudaysavers club #topauthors poll. Check out the announcement post here:
https://peakd.com/hive-167922/@eddie-earner/saturday-savers-club-author-of-the-week-ending-19th-may-including-announcing-our-weekly-winner-
Check and vote in the poll here:
https://leofinance.io/threads/view/eddie-earner/re-leothreads-2xhpe2iyy
Well done - and best of luck in the poll !!!!
Thank you ! That means this week's post needs to step it up a notch and be better than last week's one 😁
Congratulations on the excellent progress that you've made on your goals so far! You're doing quite well indeed! I'm getting close to 2,000 HP, and it's all come from my activity and posts on the Blockchain, with no outside investments yet. I love and believe in Hive, and I'm all in for the long haul here. I think investing from outside is a good thing, and can be used in a very mutually beneficial way. I'll likely invest from outside at some point too when it's feasible. My ultimate goal here is to become a millionaire Hive whale, so that I can easily live off of what I've created here, and equally importantly, to be able to help lift as many people around me as I'm able. 😁🙏💚✨🤙
Thank you ! 2000 HP just from activity and posting is impressive - I should definitely up my game on that front, but it's a good inspiration to know that it's possible.
I love the idea of getting to whale level and being able to earn enough to live off and bring others along for the ride 😁
!PIZZA
!LOLZ
lolztoken.com
It’s not tearable.
Credit: reddit
@tydynrain, I sent you an $LOLZ on behalf of @alonicus
(1/2)
Absolutely, you're most welcome! Thank you! I appreciate that! There are some people I know that have done far better than me (getting to dolphin level and 70+ reputation) in that regard, but I'm always learning and refining how I do what I do here. It's definitely possible! Hive is an excellent testing ground to enact new goals and habits, because you can see so easily how it plays out.
Yes! It gives me ever-renewed motivation, and it's not just for me! I want everyone around me to succeed! 😁 🙏 💚 ✨ 🤙
You are inching a lot closer to your goals, congrats with that. And I feel you about missing the HPUM badge. I failed too, for a few months already and yesterday, I found out missing to power up on the 17th, lol!
I love your thoughts about buying HIVE from outside source to grow one's HP. I think it is good especially if one has resources and just lying in their banks.