Hey.. I can’t thank you enough.. I am waiting on reply from friends .. not sure how it works yet but am looking forward to this.. thank you for the help .. I’m still not sure how it works but I’m trying to figure that out
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Best advice I can give you is whatever you do, don't lose your keys.
There are several ways to interact with this network, so it's really hard to help. For instance I'm sending you this message from a site called Peakd. I have no clue where you are or what you're using so I can't even begin to describe the steps.
okay.. I hear ya there.. I have had internet trouble for a few days now.. so haven't tried to stake or cash out anything... still not sure how to do it but I'll figure it out... I am using Ecency.. seen people post from peaked and wondered what that was?
Easiest way to explain this is Hive itself is a blockchain. The blockchain is used a database. Ecency, Peakd, Hive.blog and so on all tap into that database. Different websites that all display the same information. Each has their own unique features. Their own look. Their own team of developers.
I see you figured out how to claim those rewards. That's the first step.
The HP(Hive Power) is staked HIVE tokens. Comes with benefits like the ability to have a vote with value. I have nearly 89k HP so my vote value is currently worth $1.70 and as the token value rises, so does the vote value. We're limited to 10 full power votes per day and after that the vote value decreases. Voting power recharges just like Resource Credits.
Each time someone votes, they give half the value and keep the other half which then becomes more HP. The pile grows. These days I use mine to support Vibes mainly. Basically get paid to listen to music and support the artists.
It takes 13 weeks to fully unstake the amount HP of your choosing. 13 equal payments. It gives you resource credits as well though so it's wise to keep some locked up if you plan on using the blockchain. I've been around for years and just let my HP grow but everyone is free to decide what they want to do with it.
That HBD you got. A few options there as well. I can't explain how to cash out as there's a million ways probably. Most would first turn it into HIVE tokens in order to cash out. Or they could turn it into HIVE then stake it. That's more HP. There's even an HBD savings account in the wallet. Throw the HBD in there and it'll grow at a rate of 20% but that rate is subject to change. Been 20% for awhile. HP grows at a slower rate, maybe 12% as long as one uses their votes. Of course post rewards help HP grow as well, on top of that 12%.
So yeah there's a lot of options; things to think over. Again. Whatever you do, do not lose your keys. As long as you have your keys you'll always have access to your account and funds. That's the most important. Never lose those keys.
Thank you so much.. 😊 I am slowly catching on more each day..
Yeah dude. I know I said a lot but just take what you need and let the rest fall into place. That HP stuff is what makes one part owner of all this fancy future stuff. Decentralized environment. We're all in charge; in charge of ourselves and that's it.
🤝🔥