Understanding Your Hive Account Growth Potential
Yesterday I received a reply back from @arcange after I congratulated him on reaching Whale status. His comment got me into thinking how could this become possible as I had never even contemplated becoming a Whale in the next 6 years.
Think Bigger
The reason being it has taken just on 5 years minus 3 days to achieve just over 87K so another 460K in 6 years sounds ludicrous. This got me thinking of how on earth I could do this and there are a few limited possibilities besides the obvious and that is investing from outside.
i am not one to predict and do targets especially on Hive as it doesn't rely on you, but those who support you along the way. You will often find some months better than others and nothing is set in stone so predicting growth is very difficult and virtually impossible. The attitude of any growth is good growth is the only one to have.
Outside factors influence your growth as the price of Hive climbing upwards normally means higher dollar values on your post rewards, but less Hive being earned. This is why the Bear market is so important as staying active only enhances your growth potential.
The obvious solution is to take advantage of the Bull market somehow and then buy back Hive at a lower price. This is the fast track to a higher Hive Power which will increase your overall growth far quicker than doing it organically like I have done for 5 years.
Price swings can be very lucrative and using the HBD as the stable this could actually work. We know for now we earn 20% APR on having HBD in savings which is very decent but that is only part of where my thought process has taken me.
Over the next 5 years there hopefully will be at least 2 ATH's for Hive or at least one we could bank on. Speed will be essential and being ready as the power down is not a friend in these circumstances. The number of Hive converted in to HBD and then waiting a period before the Hive drops is my only answer to speeding up the growth process.
Just think you have 100K HBD earning 20% APR and have to wait 6 months for the price to drop in order to swap back to Hive could easily boost growth beyond what was possible. We have to think differently outside the box is we are going to obtain these seemingly impossible targets.
We can all obtain growth and achieve our targets just by doing what we do daily, but the time frame is the unknown factor. The threat to growth with a higher Hive price and mass adoption with more users is only going to make these targets harder to achieve over time so our window of opportunity is always being eroded away.
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Creativity is the partner of dedication... when they work together they are a force to be reckoned with.
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The problem is after that next ATH, we will likely never see $.40 or lower again. It's going to be more costly to buy in the further on we go.
Yes totally agree and why if there is wheeling and dealing to happen the window is closing slowly.
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Yeah, closing for sure!
Yes, it is hard to reach whale status, but nothing is impossible, yes you may need to invest some money from outside, and believe this is the time, in the coming years, I'm pretty sure we won't get the chance to buy hive at 0.40 cents. on the other hand you are creating amazing content on hive. which will be very helpful in reaching whale status.
No money or investment is required which is the beauty about this place. Thanks as it takes effort and serious commitment.
Funny thing is that 5 years goes so fast when you are zoned in on the project. I can boldly state the last year and a half has been just like that
Yes 5 years is like 3 years as time does fly. I do think the more successful you become the quicker time flies as you never have enough time.
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Great thoughts on how to grow faster on Hive there @cryptoandcoffee, and it's definitely possible to make it to whale status, it will get harder with time though, and not just because of more accounts with stake but also due to the decrease of the rewards pool as well, good luck swimming and stay awesome.
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My ultimate goal here is to become a Hive whale, but not only for just myself, I also want to be able to help as many people around me rise as I'm able. I love and believe in Hive very much, so I give it my all, and as I say all the time, I'm all in for the long haul!
I really appreciate this post! Thinking outside the box, and looking at things from every conceivable perspective is quite important I'd say! Thank hoy so much! Onward and upward, together! 😁 🙏 💚 ✨ 🤙
Yeah, I think the smarter move is to dca out into hbd during the next bull run and then dca back in during the next bear market.
Easier said than done...!
Hehe, nice thoughtful post @cryptoandcoffee!
It's great to see that my comment has sparked a new way of thinking about how to achieve growth on Hive.
You are absolutely right that organically growing on Hive can be difficult, especially as it depends on the support of others in the community. However, I think your idea of taking advantage of the market by selling and then buying back HIVE at a lower price is also a (risky but) great strategy. It's important to be flexible and adaptable in a constantly changing environment.
Looking forward to seeing your progress in the future!
Thanks. Yes your comment did make me think and it may be risky selling and buying back lower but see this as the way to get ahead or otherwise I am looking at another good 10 years to become a whale. Any growth is good growth so I will see what happens as there is no huge rush.