Are they staking as well; growing their accounts? Like planting an orchard in order to have continuous harvests. Or are they cashing out? Which would be like plucking the fruit, cutting the trees down, then selling the firewood. One method is sustainable, providing income (even more) for the future, while the other has no future. Any data available representing which course of action they're choosing to take?
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I have never performed a power down, neither has my partner @enmy. I understand that many Venezuelans do it because of the situation, although I tell them that always, even in the worst situation you can save. I always try to promote saving, because that is the key to generating wealth.
It's worth it in the long run. Several folks though, no matter where they're from; say the price shoots up. They drain their accounts. Their friends drain their accounts. Friends of friends drain their accounts. Their entire extended social circle, the people that like their stuff and can relate to it; gone. Can no longer support itself. Then the price settles, they come to earn, but they wrecked themselves. Sometimes even accuse the platform of being unfair, but it boils down to the individual and their own personal choices. Then try to depend on everyone else which is impossible. Even with my amount of HP, I'm spread thin, can only hand out so much in a day. No way of even knowing everyone here.
That's why I use the orchard analogy. Takes awhile to grow one. Once it's ready, you nurture it, eat fruit forever. Never chop down the trees and sell the firewood in order to buy fruit because those trees take a long time to replace.
And I know it's unreasonable to insist people save everything. I don't think like that. I just like to point at the opportunities from time to time and remind people it's theirs, too.
There's been a lot of talk among people using HBD Savings instead of traditional bank savings accounts which are impossible in Venezuela and unreliable everywhere else. A person can save their HBD, leverage the 20% APR and grow their nest egg.
Provided there's a solid foundation allowing for HBD to be accessible/earned, then yes I can agree that HBD savings account is icing on the cake. You called it the nest egg. Can't have those without chickens. And the nest doesn't make itself. Put all the eggs in one basket and suddenly the chickens aren't producing eggs then see no need to build a nest.
Certainly does put the concept of 'living off interest' in far more hands. 20% looks nice and shiny on the surface but there's some fine print that talks about a balancing act people should read first.
Of course there's also people working and earning, living normal lives, outside of Hive; they too can benefit. I've been showing that option to people I know. It's so strange though. In this part of the world (Canada) it seems people would sooner pay interest rather than earn interest. Ever notice that?
Never imagined you were Canadian, always thought you were some sort of a European. I've given up talking to most Canadians about crypto long ago. Nevermind about Hive. People who don't care that Canadian banks agreed to freeze accounts of people without any due process based on some random list from who knows where will not understand Hive.
Said 'Canada' in my profile for six years. lol
Technically I am some sort of a European. Most of my blood comes from Ukraine and my dad still speaks the language. I was born in SK.
And yeah. Not many people excited about anything crypto around me. They all think I'm crazy.