I'm pushing on towards seven and a half years on the blockchain and despite it changing so much (and not always for the better) I'm still here and forging ahead because I (mostly) enjoy it, the writing outlet it provides, and because of a handful of really cool people who interact with me...if you're one of those you'll know I'm talking about you.
Something I don't think about though is the price of Hive as it has zero bearing on whether I'm here or not.
I remember when the price was up at about $3.41 or so...Yeah, it happened. I sold a heap of Hive for USDT at the time and when the price dropped bought back a fuckload more Hive which I powered up. Having said that, about 184,000 of the approximately 271,000 Hive I hold currently has come from author and curation rewards - Power up and you'll earn curation, simple really. If you don't know your own split you can see it here, just type your own user name into the address bar at the top of your browser when you bring the link up.
I am a collector, not a spender; meaning, I am not living off Hive or any other crypto-currency, I gather it and hold. It's just magic internet money and doesn't have much use to me in the real world at this point...but just for fun I thought I'd have a think about what my Hive would buy me currently.
At the time of writing this my account value was about $54,500 US Dollars so I'll work on that for the purpose of continuity. That's slightly under $80,000 Australian dollars so let's just call it $80,000 Australian dollars. Now, what would that buy me today?
- A house - Nope, the average house price in Australia is: $959,300.
- A Dodge Ram pickup truck - Nope, a new Dodge Ram Laramie is $147,000.
- Groceries - Yep, my annual grocery bill at the supermarket is $23,400 so I could buy groceries for 3.4 years.
- A new Toyota Camry - Yep, I could get a mid-range Camry ($45,000...so I could get almost two).
- Health insurance - Yep, I pay $2,700 annually so I could get 29 years worth.
- All insurances - Yep, I pay $34,000 for insurance annually so I could get 2.3 years worth (Houses, vehicles, RV's, health, life and so on.)
- Fuel - Yep, I pay $4,200 for fuel annually so that's 19 years of fuel.
- Council rates - Yep, I pay $4,500 in council rates annually so I could get 17 years of council rates.
- Large Big Mac Meal - I never eat them but at $13.95 each I could get 5,734 of them. 🤢
- Bread - Yep, at an average of $5 each loaf I could get 16,000 loaves of white bread.
- Cigarettes - I don't smoke, but if I did they'd cost $45 each pack so I could get 1,777 packets.
- Pay TV - Yep, I pay $1,500 annually so I'd get 53 years worth.
- Kit Kat chocolate bar - Yep, at $3 each I'd get 26,666 bars.
I think you get the idea anyway, there's probably no need to go into it any further. I'd not be able to buy all of those things combined of course, but it's interesting to turn $80,000 into tangible things to see what value it may have.
Australia is a costly place to live and $80,000 Australian dollars worth of Hive won't go far; the average income in Australia is about $92,000 (pre tax) annually (which sounds like a lot) but with the cost of living here it's not enough which is why so many are struggling with the inflation and shrinkflation that's currently happening.
Looking at my Hive amount ($80,000 Australian dollars) it'll not go very far in the real world considering it's subject to tax as well so the real number is nowhere near that, closer to half. I'm not keen to use it anyway though...I'd rather keep it and see if the price goes up again because even if it went to $1/Hive the fiat value would be about $395,700 Australian dollars...a figure that would make a bit of difference even after tax. So I hold.
I know there's people out there living day to day off the Hive they gather up and I get it to some degree but I can't help but wonder how those people would feel (holding no Hive at all in the future) when the price goes back up to $3. I'd be pretty annoyed if it was me but, of course, I gather Hive not spend it and I'd have (at current holdings) $813,000 USD ($1.19 million Australian dollars) were that $3 scenario to happen which makes it pretty easy for me to know what to do now.
Power Up a little each week
I guess this is one of the reasons I suggest to people that they should power up a percentage of what they earn here rather than taking and spending it all, say 25-35% of their earnings each week as a minimum because should the price increase they'd make some solid gains and that power up means more curation earnings and it compounds from there...I guess everyone does it differently though and some don't think too far into the future.
Design and create your ideal life, tomorrow isn't promised - galenkp
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Power up a bit every day is a better way. Compound interest is the way.
Yep, indeed it is.
It sounds easy but many people can't or wont. Just a little each week powered up goes a long long way.
It's all about not thinking short term and just enjoying the place. It might come up trumps and that would be icing on the cake!
It all seems so logical to me and yet people spend their tokens with no thought to the future. I see people taking amounts like 50, 100 and more each week and yet they don't think to power up even small amounts like 10%. The funny thing is, if they powered up they'd earn more through curation and with some small but constant power ups I'd vote on their posts...as it stands though...nope, I don't vote on them. Their loss.
They will never get it. I remember when I first joined I thought, I need to get more tokens! I kept thinking if I get a stack I will be able to sit on it and be laughing.
It's more fun with a stake, voting on people and getting paid for it through curation. All those others who take it all think life's good...but it'll not so good when they realise they were living of a few cents when there's hundreds they could have had. I'll be laughing then.
It is the fun, seeing a good post and adding dollars to it instead of cents for people. Comments too.
We will all be laughing soon! :OD
Indeed, I like that aspect, the larger vote to use appropriately and commensurate to that which the post or comment deserves.
Aye, exactly. It's the backbone of Hive!
racking and stacking here. I keep a little bit in HBD and liquid so I can make small transactions quickly and easily on the blockchain. That said, I do understand those that maybe are less fortunate, but do wish they would see the long term gain they could get from powering up a chunk of it.
That's the way to do it.
I don't believe those who are taking it all out and not powering up can't spare 10% of what they take for a power up...I mean, what did they do before they were on Hive? Anyway, you know my thing, no regular power ups means they'll not get my vote so I guess they costing themselves in more ways than one.
That is kind of my thought as well. They never had it to begin with, so what is 10-20%.
You had me at 26,666 Kit Kats.
I agree with powering up, I say as much as possible. You can easily vote on good, well written (or recorded) content and make 7-8% APR.
Do that and in 2030 we might be sitting on a cushy stack.
Did you see Gandalf's visualization on development to Hive core over the last 4 years? He talked about it at Hive Fest:
Yeah a lot of stuff has been going on.
In 2030, if you keep adding value to those around you and harnessing the power of compounding, you might be able to exchange some HIVE for way more than 26K Kit Kats.
It's a simple formula, but like you said, some just do it differently.
Adding a little (powering up) simply makes sense and I think everyone here could afford to power up just a little to help themselves earn more in curation and have a bunch of Hive to take advantage of future price increases.
It's also about your ability to shine a spotlight on quality content. To amplify messages you want heard and to reward authors/commenters you'd like to encourage. I think of each Hive as a credibility token. You earned it by being credible (or you bought it from someone who earned it by being credible), and you use those credibility tokens to award others you find credible. It's a great system, really; we just need more people to recognise that.
Well said, nothing to add, just that I agree with the more people to recognise it comment..
This is spot on. I was around for the previous +$3 spike, and wow what a feeling it was to see my HIVE value grow enormously that week. I didn't have much at the time, and was not worthwhile to withdraw, so I let it ride, and also bought more when prices were down, knowing that eventually, we will get another rise and spike. That's the way both crypto and stock market works, it flows up and down.
Yes, when we get another big spike, then I'll likely withdraw some and leave the other half or so in there to keep building. It's kind of like fishing, or hunting, pulling out one to eat now and then while you let the others grow and multiply. This both sustains and builds. The smart way to invest with the least risk really. Especially given the way we can build value by posting and curating. This is what truly sets Hive apart from the other crypto's and many people fail to realize that building small amounts now will multiply many times when the prices go up again.
!INDEED
!BEER
!HOPE
!PIZZA
Sometimes I wonder if the way I see it is backwards but I don't really think so. I keep talking about powering up for additional curation and to have some tokens for when the price increases but so few actually do it...just a few smart ones like you and I and some of the older accounts, and a few of the smarter new ones. It seems (generally) that most see it as instant reward and put no mind to the gains that will come down the track which will not go well for them when the price increases. That doesn't seem so wise.
Also, don't waste those token call-ups on me, I see them as worthless and a little bit of a blot on my posts to be honest.
Exactly right, those folks doing the immediate gratification constant withdrawals will be the loudest ones crying when the hodlers are dancing... lol.
And roger that on the tokens, they rather new to me and just exploring them. Also have yet to see any real value in them other than an occasional pat for someone that cares. I also don't care for their auto-reply noise, it would be nicer I think just to have the little gif like an enhanced smiley face and leave it at that.
Cry babies. Lol.
I think those token things are pointless to be honest, no value really, and they clog up people's posts. I have them all muted in my communities and if new ones come along I mute them also. It used to be a thing, now they're just annoying. (Just my opinion.)
G, unfortunately not everyone has a financial ‘culture’. Nor do they realise what saving can mean for them in a scenario of galloping inflation. Articles like this are good to show people the difference. Others simply don't believe in Hive or cryptocurrencies in general because they have had bad experiences with ponzi systems, and since they haven't bothered to do any research, they come to just take without thinking about their future. Now, a person who is not able to think about his own future, do you think he can be interested in the future of this Blockchain? I don't think so.
Other people live in an extreme situation and have no alternative. But even living in such a situation, with willpower you can make savings. It's like not being able to hold back on chocolates for example, seeing that you have 100 dollars and you can buy with it things that would give you pleasure or that you need... but you can plan and hold back. A lot of times we spend on things that are only hurting our health. But G, everybody doesn't have that mentality.
This is a big issue.
In my case, I'm putting the rewards at 50% some days to have liquid HBD in case I have a need or for trading, but I try to make the remaining days of the month go 100% to HP. And at the beginning of the month I power up with the hives I have available or I buy them.
That's how I managed to reach dolphin in less than two years here. By the way I turned two years old and you didn't congratulate me in my post. Jum! you're bad...
In short, those of us who live with almost no opportunities have a very hard time saving, but with will and sacrifice you can do it. Also the realities of each one are different. Being in the care of a sick person, for example. Without opportunities, with the shitty salaries they pay here and everything is sky high, all equated with the dollar and people earning less than 15 or 20 usd a month. Imagine 30 eggs worth 10 usd. We're not going to talk about medicines because it's total madness. Think of a mother having to provide for her children like that. You can't imagine how terrible it is. So while I put forward my point of view of willingness and sacrifice, I understand the point of view of others.
Hug G.
I agree, and you say it well. I guess it's people spending Hive they transact at $0.20 on things they don't actually need that are the dumbest of the lot, those pleasurable items not the necessities. Still, like you say, holding a little back could pay big dividends for them.
You've done well and in a reasonably short time so it's to your credit; that has meant some sacrifices and I hope to see that rewarded by big returns when prices improve.
I understand all you say, but no matter a person's position, I feel that some thought and care needs to go intonthe future or else the future will never look any better than the present.
Although not using my crypto and just holding it, I like the idea of getting a loan backed with crypto such as hive instead of spending it. If the fiat system starts to collapse I am sure crypto will increase its value way fast.
I'm not into loans but I guess it could work. I just see some value in holding Hive when the prices are low, powering up to make more in curation too. I wonder how many of these people are going to regret not holding some when prices double, triple and quadruple. Their loss, I and others who hold and build will have plenty.
You pay 34k a year on insurance?? That's a lot 😱
I still can't understand why people are so short sighted and don't power up even a little bit. Here for today and today only.
Btw, how many packs of Tin Tam would that get us nowadays? Me and my colleagues used to love stocking up when we go to Australia in the old days 🙂
Yeah, that's for all of them, multiple vehicles, houses and other insurances like life, health, income protection and all. It adds up.
Tim Tams...bloody good question.
So, at $4.50/200g pack $80,000 AUD will get you 17,777 packets. That's enough to last
a lifetimeat least a year. 😉You'll end up looking like a Tim Tam I think...but it's probably worth it.
Luckily we can get them in UK now. At £2 a pack my stake can get me about 11700 packs, that'll do me for a year
#TimTamQueenLUT
Yep, you can get them there, and Vegemite too. Life's good.
Sometimes the lure of 'what can I buy today' overrules common sense and good judgement. People who are living on the edge can't help but to wring every bit of value just trying to make ends meet. For me, I get a little thrill when I power up some Hive (and that's happened alot more frequently these days 😂)
The HiveStats link you posted is a great site with a ton of valuable information. I need to dig a little further into it.
$13.95 for big mac meals?? Good thing I don't like the fast food very much, though I do grab a burger and shake from our local DQ on occasion.
Yep, you're right, some rely on it, but I still believe they could spare 10% each time they take some to power up, asan example. A small amount that could pay dividends later when Hive goes from $0.20 up to $1, $2 and more. I know you get it.
I'm glad you're powering up more, well done, it'll earn you more in curation as well.
I'm glad that site will come in handy, it's a good one...and fast food? I never have McDonald's or Burger King, KFC, Carl's Jr. and all...I like a burger now and then so go for one of the premium burgers from time to time, like Nordburger, Grill'd and so on. $18-$24, but worth it for those rare occasions I actually have one. Mostly I get a burger from my local fish and chip shop, they make them from scratch, home made and all. Yum. 2-3 a year won't kill me right?
Oh yes, the local shops that cook from scratch are the best!...and no, 2-3 a year won't kill you lol. Sadly, we don't have a Nordburger, nor a Grill'd restaurant here.
There's a show I wat h from time to time from America, a chef who goes around to diners and other such places trying out all the creations people have made a d there's one about food trucks as well; y'all have some legit options up there!
I started in Hive just to experience a place where I could write from time to time and at the same time give me back a few coins, but... I came from places with a bad reputation: ponzis, frauds, groups where only people who took advantage of certain rules succeeded, in short, nomadic sewers that are still out there.
That's why I was very surprised by the time that Hive has in networks and the strictly organized work that is behind all the people who participate here.
At the beginning it was a bit strange to see that there was no fee and that the transfers were/are instantaneous, these are very normal things around here, but not in many places.
Following you and reading you showed me a lot of things, especially trying to change my third world mentality by learning to work in a different way, and above all, changing my way of thinking: the future is today and it is done now.
I'm working on it, I know it will take time but I'm lighting up every time I accumulate something...the best thing is that I'm enjoying the way.
I also very much agree with what nanixxx says.
Thanks @galenkp
I see that you do some power ups and that's why you get my votes, I have stopped supporting those who do not power up regularly. It's a pity as I want to support them but I also want to make sure Hive is sustainable and doesn't turn into a grab and run opportunity for people who just don't care about it.
Anyway, keep up the good work.
It is an excellent idea to power up every week. HIVE, like other cryptos, has to be seen in the long term. In the case of HIVE, especially those of us who live in the third world and often live day to day, it is difficult to understand the long term savings, but you are right, we must try to enjoy more the blockcahin and forget the day to day. In short, only a few can live on HIVe right now. I applaud your forward thinking proposal. In my case in the last few posts I have done powerup and I think I will be able to do it every week.
A little each week is a better strategy than none as it will make the future brighter should the price increase. Imagine just a doubling in price and the benefit it would bring when selling a Hivebir two. Then triple it more. To have some Hive ready in reserve makes sense. Well done on your power ups.
If increasing the HP is very good, so is having a reserve ready to use in HIVE as you say. Especially around here where there is not much access to external exchanges.
Exactly, and I look forward to seeing your strategy pay dividends.
I hope so too!
Of the total 433.6K HP I have, 122.8K are from writing and curation (35.5K author and 87.3K curation.
I have never sold any HIVE. After the fork from Steem, I sold my Steems and bought HIVE instead, nearly doubling my stash.
I put the HBD I get from writing and curation in the savings account.
Yep, a similar story to me although I don't have quite as much held as you or delegate in the same percentage of my stake that you do. I just keep powering up, posting and commenting (which is the fun part) and the future will take care of itself I think.
You made me think more about the price of Hive during this post than I have for the last month. I occasionally look at it. Shrug it off and keep on trucking.
Yeah, it doesn't much matter right?
If that $3 scenario of a Milly+ arises that you spoke (posted) of I think it would.
A scenario where I could pay off my mortgage and then start a weekly reinvest in Hive I probably would be more interested in the price. But I highly doubt that will ever be a possibility so I will just keep on truckin'
One never knows...it went up there once, can do so again. The key is knowing when to sell on, how much to sell and when to buy back.
I knew that Australia is expensive place to live but this is completly insane.
For a while now I have been thinking about buying some HBD. Maybe 300 or 350 eur worth. that 15.00% APR is really tempting. But at the same time 300-350 is quite a lot of money. And I am worried that I may lose it should my account be hacked. I know that this is not likely to happen but it is still scary.
It's a costly place to live; we earn reasonable incomes but it's all relative when the cost of living is considered.
With the buying thing, like any investment there's risk, it comes down to minimising it and your level of comfort. I'm sure you'll make the right decision.
I'd love if Hive went to $1 or spiked back to $3 or beyond (the $17 or so Steem got up to several years ago was more than nice). But then I probably wouldn't time a power-down correctly so I wouldn't be able to take advantage of it unless it lasted for longer than the typical pump and dump. Oh well.
I power up 20-50 Hive every single day, then around 200 on the first of the month. Maybe I'm addicted to powering up! Or at least I'm addicted to buying Hive while it's cheap so I can afford all this powering up.
Powering up regularly earns you more in curation so you can power up more regularly so you can earn more in curation which...means you can power up more regularly and...I think you get the point. Consistency is the key. Unfortunately many consistently take rather than hold and it's those people who will be whining the loudest when they have nothing to sell at higher prices. It'll be their own fault though.
Hello
It should be noted that there are users who use Hive earnings as a supplement to make ends meet. It is difficult to save when day-to-day needs are not met.
Then there are also those who only think about squeezing the cow's teat until it dries up. I have experienced this on other platforms.
Honestly, I'm not on Hive for their tokens either. I enjoy the creative process and the interaction between users, even if I don't have enough time. It's good to know that there is also money growing that at some point can be used.
Yeah, I wonder what those people did when they didn't have have Hive though, clearly other things to make ends meet.
Those people will be crying the loudest when the price goes up and they realise they have spent all their Hive in cents when others are spending it in dollars. Saving some is the way to go.
I see many who take all their Hive out and spend it "to make ends meet" in third world countries and yet post regularly about shopping, restaurants, new phones, movies, entertainment and other such consumer items they don't really need...hmm, seems "making ends meet" is different there than here.
At the end of the day, it doesn't affect me and I'll not have any pity for anyone who doesn't actively work towards helping themselves on ahive or anyone else. People need to take some responsibility for themselves.
Before I issue votes I check people's wallets, if I see no power ups regularly and only withdrawals that person won't get my votes, it's quite simple really.
He is right in what he says.
Today's world is based on consumer propaganda. The users of social networks do the marketing to the producers, and it is not for pleasure that they invest in this sector, but for the sake of it. It is a challenge, if you do not consume you do not exist.
That's one of the strategies I thought about a few months ago .... multiply what's in the account to double it... because so far almost all the HBD I earned I sold and bought HP to raise the account...when it goes down buy a lot more and my HP will go up! Just that... I'm waiting for the right moment. The process is a bit slow but I guess it will come.
It won't be much right now, but in another four years it probably will.
It takes time. I've been around for just under seven and a half years and am still building. I guess my point is that it's smarter to power up a little as a minimum rather than take it all out because if one is t holding anything when the price goes up...well, the result will be underwhelming.
You currently have 853 HBD and about 10,000 staked...that's of decent value when prices double, triple and more...those with nothing...well, they have nothing. It's best to power up, earn curation and plan for the future rather than take it all now.
That's what I thought... everyone has to plan that blank canvas and has been thinking for months about the best strategy, I think that doubling or tripling it is the best thing to do and then... keep working and improving!
Hi Galen, I'm not one of those who live off any social network, and the only one I'm really active in is Hive. I don't think I need to clarify that it's not about the rewards. I also think that not being on the lookout for rewards is a way to enjoy Hive more. Not being on the lookout for the communities that give the most rewards, and not demanding a high epublishing rate from myself makes me enjoy Hive, in a different way than if I had the need to monetize the channel to live or vir better.
I fully understand Hivers friends who take their rewards to be able to live, with some of them we have talked about this issue, and I just hope that the price of Hive will increase for them.
In my case my HP comes mainly from exchanging the cryptocurrencies I earned on another platform in three years of publishing on it and bringing them here. I have also bought some Hive when its value has been lower than it is now, I think it was a way to support this great community.
I understand very well what you say about the 25% savings, we would all win. Hive would be more sustainable and the “savers” could multiply their gains with a higher value of Hive.
My policy is to think that Hive tends to 0 value, and enjoy my presence here, as if it were a game (and keep accumulating Hive).
Greetings
You say you hope the price of Hive increases for those living off it but with none held (all taken out and spent already), it's a moot point as they have none to capitalise on any increases that will occur in the future. It doesn't seem like a smart strategy to me. Oh well, I'll have heaps to capitalise on when the price rises because I'm holding now...each to their own way I suppose huh?
You are right, I just read what I wrote and it is contradictory. I'm sure it has to do with the fact that the subject itself produces conflicting ideas in me. In the end, as you say, everyone chooses their own way of being and their commitment to Hive.
I totally agree with this. Powering up at least a percentage is the way to go. I saw a project the other day that is working on making it easier to get Hive out of the system and I was thinking no, that's not a good thing. We want people to be staking.
So many people see this as a bit of quick money...dumbasses. They think it's all good, taking it out at $0.20...just cents, when not too long ago the $1 they could earn off 5 Hive today would have been $15 back when it was $3+. I guess some people have no vision and defer to the instant gratification a few cents gives them.
It's been happening for centuries though. Just look at how old the story of the goose that laid the golden egg is. It's the same principle, so it's clearly something humans have always struggled with.
Yeah, none too smart at times. Humans I mean.
Same here in the Netherlands, getting very expensive.
But I have confidence in Hive and it puzzles me why it is still this small.
It'll have it's day...and if not then at least you've enjoyed your time here. I think the best thing is to not focus on the price of Hive and focus on the enjoyment of it instead; that way there's gain and value either way. It goes up and happy days are here. It doesn't go up and the enjoyment is the value.
The way you analyzed it make it look like there isn't much one could achieve with Hive (when I was already thinking that people like you have a fortune in there).
I'm shocked to know that hive had hit $3 before
Yep, it did and I sold a fuck load and re-bought a fuck load back when it dropped down. Happy days for me.
People spend Hive on stupid things without a thought about the price going up and I think it's dumb...yet, people will be people and they can't be told and so they'll have to learn the hard way.
$PIZZA slices delivered:
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