If you're not staking your hive, why are you even on hive?
Obviously that's a rhetorical question, and I know, I know; people need to eat, so many people have to sell what they earn, and that's cool too. I mean each to their own.
But why aren't you staking, really?
Many people dream of being someone -- anyone. Someone that matters.. to at least someone else. And you get that when you have a lot of hive power. People on chain treat you differently, there's an underlying level of respect, if not also combined with a little resentment from the lower leagues, but that's to be expected.
You don't get that anywhere else in crypto, yet. Not that I'm aware of anyway. You can stake a lot of tokens elsewhere but unless you say something then people aren't going to know. They won't know who you are and it will also seem a little awkward if you go around telling people how much crypto you have.
No-one likes a show off.
But hive is different; you have to make yourself known to network with other people, and they can easily search your stake by taking note of your hive username and pairing it up with your discord name. It's how we get shit done over here.
Is that a bad thing? Well, it has it's good points and bad points. One thing is for sure is that we are incredibly transparent, and anyone trying to do anything shady or sneaky, whatever's happening is easily searchable. Transparency is a good thing. I've heard a lot of people say that sunlight is the best disinfectant.
Then there's the whole issue of telling if someone is trustworthy or not. It's not always the case but usually trustworthy people have a long term vested interest in the chain and will have quite a bit powered up.
Our fees are free as well. So if you want to stake a million dollars then you can and without much hassle. It will be free to so -- which is different from any other chain I've been on. Staking can cost quite a bit with all the fees added. Not with us though.
So far, through my experience anyway, and I think most hivers will agree with this, but Hive has proven to be the easiest and most straight forward way to stake and earn from that stake without having to worry about a massive price slide.
And we have Dpos here. That's delegated proof of stake. So far that's by far the best consensus method I've had the fortune to come across. You can vote your consensus witness to keep the chain alive without having to lose any hive in the process. By the way. @brofund is a witness too -- consider voting us!
I stake enough to have the resource credits I need to do the things I need to do on the network. That's it. The whole DPoS thing is really nothing but a popularity contest. Plus the fact that only 20 witnesses plus the rotating backup actually produces blocks, it concentrates too much power at the top, and most of those people are not really that active as far as voting and spreading their votes around. They primarily concentrate it with their other whale buddies and causes a huge centralization issue, has ever since the Steem days.
After seeing it from a different viewpoint as a Cosmos ecosystem validator and saw how the flaws were the same in both ecosystems, it's really not a great consensus mechanism. Just helps the rich get richer as with everything else and is nothing but a popularity contest. Sure the little guy can earn some crumbs here and there, but most of these tokens aren't worth a shit anyway, they are mostly all just vaporware. This is NOT the case however with proof of work systems, which is the superior consensus mechanism, hands down. The machines just turn on and run and do not care who has what and who is friends with who, it just does it's job and works.
Another reason I don't is because I hate the fact that people can just go in and see what you have, the transparency is far worse than Bitcoin or anything like that because well, hell, some of us use our actual names which is HORRIBLE OPSEC with cryptocurrencies. I can't say much because this account has basically been tied to my real world ID, another reason I go all into XMR. It's honestly none of anyone's business what I have, which is why much of my rewards end up in Monero. Someone shouldn't be viewed as 'trustworthy' or not based on the contents of their wallet, it needs to be judged by their content and their efforts to further the chain, which unfortunately really doesn't happen, and is a HUGE flaw in this ecosystem.
That's just my 2 satoshis on the subject. Take it as you will. I am only here these days to post my FPV drone videos.
It's often overlooked that staked HIVE earns more interest than most bank savings accounts. !BBH
I earn nicely from staking, but it also allows me to distribute more rewards and that matters. I take this responsibility seriously. We're getting more accounts with a big stake.
Slowly but surely more dolphins and orcas are appearing. Just like any society made up of humans, medium-sized accounts help counter balance concentration of wealth in a few HUGE accounts. I would say small accounts are capable of this too, but I honestly think that it's more difficult to feel part of the solution when you:
The middle-class can make a difference as they outnumber the whales. We have about 200 accounts with at least 100k HP and only 40 whales. They can spread the rewards more. I'd like to see the big curation accounts get less delegation to reduce their power, but people like getting paid for that.
Depends on at what price one has bought. However, HBD, is much more stable and one can stake and earn from that, without worrying a lot. Of course, staking hive has effect on people in the chain earning respect, which HBD does not.
When it comes to HIVE, I'm betting much more on price appreciation of the $HIVE token in 2025. If that happens, I'll rotate a bit of that into $HBD and maybe some other stables.
One benefit of staking $HIVE as Hive Power is that I'm also earning about 10% APR (3% interest + 7% from curation rewards).
My only other bag is Bitcoin, which I'm growing forever even if it's 1,000 sats at a time.
I agree with you, the Hive staking give us reputation, and change how people see us.
Staking hive is like a game to me, It's the addictive nature of progress.
I'm trying to get to 2500 HP right now, to get that awesome BEE badge.
@brofund! @ironshield likes your content! so I just sent 1 BBH to your account on behalf of @ironshield. (17/100)
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!HOPE
!LOL
!INDEED
lolztoken.com
Now I have all Kenny logins
Credit: reddit
@brofund, I sent you an $LOLZ on behalf of cryptoyzzy
(6/10)
Delegate Hive Tokens to Farm $LOLZ and earn 110% Rewards. Learn more.
(1/5)
@brofund! @cryptoyzzy Wants to spread Hope! so I just sent 1 HOP to your account on behalf of @cryptoyzzy.
Since we think the world can use more Hope, you can now already start spreading Hope yourself!
(6/25)
@brofund! @cryptoyzzy Totally agrees with your content! so I just sent 1 IDD to your account on behalf of @cryptoyzzy.
!PIZZA
$PIZZA slices delivered:
@danzocal(4/10) tipped @brofund