Hive updates on APR does this change anything? - Getting out of the Gig-Economy

in #online-business4 months ago

Work on the various projects that I have on the go is slow but there has been some progress.

This week I would like to make some updates to the Handling the hive post that I made in August.

What's Changed on Hive

Here is the deal, @themarkymark made a post talking about how #HBD interest works. If you are interested, it is a great post explaining everything based on the actual code.

The current interest rate is 3% for all HBD held in savings or just in your wallet. The current APR for Hivepower is 3.22%.

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However, my curation reward is still over 5%, so I think being active on the chain will mean a greater return than a predictable 3%.

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Does this change my original plan?

Not really. I'm still planning to grow my #sbi stake to 5000 units and from that point I will probably start saving some HBD. I am still holding out that someone will build some on-chain marketplace where I can buy/sell services using HBD.

Having a hive based stable coin really hasn't been taken advantage of.

So, what is my goal for HBD? I don't think I have one. I will likely keep the setup where I split the rewards 50/50 and let my HP and HBD grow. With a 5% return on curation + the 3.22% HP APR, that is a very healthy, predicable return that I can let grow.

I'm long on #hive and this community. More so than I'm for #bitcoin even. The idea of a "gold of the internet" is dumb, bitcoin was always intended to be the currency of the internet but I don't see that happening at scale for a long time still. When the majority of transactions happen in a marketplace vs exchanges, I may change my tune.

Hive has utility, you use it for something. That is a major difference.

Long story longer

I'm continuing to grow my SBI stake to approximately 5000 units. I'm hoping to reach that goal by the end of the year. Then then I will continue to grow my stake in hive power and HBD.

By that point I hope to be earning a predictable amount of revenue from curation and creation on this chain.

No more loafing for #noloafing

All of these posts will be tagged with the #noloafingmoney so if you want to see what I'm doing over there, that is the place to do it.

Its time for me to stop loafing and get involved. Plan to see a lot more of me on this platform and the other front ends.

The goal

The goal is to build a product or series of products that allows me to scale. The financial goal is to build a business that has a monthly revenue stream of $5k with less than 20hrs worked on average by the end of 2021

Be sure to follow along and leave a comment below!

Until next week - These updates will be on Friday from now on.
Cheers,
NL

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This is a really eye opener comparison of APR achieved through remaining active on blockchain and interest earned on non active power. Never thought this way

My thoughts too.

While 3% is better than a bank is going to give you for a savings account, using that HP or posting with SBI is going to have a lot better return than 3%.

So until I have 5000 SBI units I will be pushing all my liquid HBD and HIVE into SBI units and from there I will probably stay 50/50 and start stacking some HBD for a rainy day.