HBD Savings Is Eye Opening!
I've never been much of a saver but I do keep some cash in the bank for emergencies. I got my savings statement yesterday and it really hit me for the first time how offensive it was.
I got $.02 in interest on a $1,000 balance. On that same $1,000 in HBD it yields $16.66 per month and compounds quite nicely.
As you can see from my photo above a keep 3,000 HBD as my base and the interest will automatically compound each month. It took me awhile to establish my 3,000 HBD base and I'm not quite sure what I started with, I think I bought around 2500 HBD but my point is that I see my money flowing.
When it sits in savings it sits still and doesn't flow. It actually loses value while HBD beats inflation and creates additional value for that same money.
It a while for a concept to get pounded into my head but it was this month and this savings statement that really opened my eyes. HBD might look risky to some but to people who have been on chain as long as I have it feels normal.
I often feel like I'm mission out on some Juicy APRs that I see on Cub and Poly but I like this relative safety I find in HBD. I'm hoping the Defi idea will get pounded into my head much like my eye-opening experience today.
Give me your thoughts on HBD Savings and whether you think the current 20% rate earns you enough on your money.
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I don't have a problem with 20%. If I could earn that on all of my investments I would be pretty happy. As much as I like CUB, we really don't know what direction it is heading. Just keeping it in the HBD savings seems like the safer play at this point.
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I think I turned $1000 into $12 with Cub so while I haven't realized the loss yet, I'll let it ride. I'm definitely not dipping below the 3,000 HBD mark. I think I'll play with my earned HBD from posting and let the interest compound.
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I have been putting all of my HBD rewards from posting into savings lately. I will likely try to get myself up to a certain amount and then start reinvesting in my HP. I should probably do that sooner rather than later before the price of Hive goes back up!
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same
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Big fan of HBD savings. Some time ago I was hunting those juicy APRs but since the impermanent loss ate my profits so many times, I tey to play it safe now.
What's great is that you can plan around it. If I want $100 in monthly income, I just need 6000HBD. It can be scaled up to meet whatever cash flow need.
The sale proceeds of a $200,000 house would get you more than $3000 in monthly income. You can use that pay the mortgage on another house.
It's exciting to think about. I've wanted to get to $100 month. But at some point I will be nervous to have too much in there and not trust it will be continual income. I'd be scared to have $100,000 in HBD savings I think.
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Imagine the whales who have millions of HIVE who gain or lose $100,000 with price fluctuations. At a certain point, you have to commit.
20% is fantastic, especially considering HBD is a stablecoin! It might go up in smoke just like lune did but I believe in Hive and we've been around for a long time so I think Hive will survive and thrive!
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20% is amazing but I don't think it will always be that high. I think we are in the expansion phase for HBD and that is why it's that high. It's still way better than what we get from a normal bank right now.
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