Why Do You Power Up Hive

almost 3 years ago

This post was inspired by @ph1102 post watch it and thank me later

When I joined Hive I didn’t know the potentials of Hive, I was only subjected with the idea that Hive is a platform where you blog and earn. I didn’t know the power of the blockchain. Finding out about the Hiveengine or rather the layer 2 tokens gave me a glimpse of how Hive is more. But what I didn’t understand was , why do other Hive engine token have a higher APR than Hive. So I advised my friends to invest in Hive engine tokens like proof of brain, and they should buy little Hive.

source

Other Hive engine tokens give you more than 5% or more APR every month, like proof of brain, that’s like 60% or more every year. I felt that was a good deal and suggested that my friend invest in proof of brain more and leave a little for Hive. According to my observation, Hive gives 10% APR when you curate, and an additional 3% for powering up, which wasn’t enough compared to the 5%+ proof of brain gives every month.

He invested $300 on Hivepower and $3,000 on proof of brain. Unfortunately the value of proof of brain went really down and the value of Hive went really high. He ended up making a lot of money from Hive than proof of brain. This was a lesson I learnt from his mistakes. Ever since then I decided that I will be focusing on my Hive power and making sure I don’t power down and wish I never find myself in the situation where I have to power down.

So let’s go to the real question here, “why do you power up”. Powering up has lots of advantages, if you are looking forward to being extremely wealthy in the future, then powering up is considered a good idea.Hive is built for greatness and that’s an inevitable fact, we have seen what has happened to Hive in the last 7 months and plans of what hive will be in the future. So locking your Hive up as Hive power is like you saving your money in fixed deposit, earning from the fixed deposit through curations and also getting some free stuffs like airdrops because of your Locked money. Oh!! I forgot to mention that the value of your money appreciates also. So it’s an endless win situation for you.

You can also see power up as your piggy bank to save money. Imagine making it a habit to power 1 Hive every day, for 360 days. That’s 360 Hive regardless of what the price is, now imagine the value of Hive go to $10, you have successfully saved $3600 with 10% APR giving you $360 extra and an extra 3% that’s $108.

Powering up also gives security advantages. This is the reason I love the 13 weeks power down period, 13 weeks is 3 months that’s enough time to try and get your account back incase of any hack. When your account gets hacked, it takes 13 weeks for your Hive Power to fully turn to Hive. That gives you enough time to try and retrieve your account back. But if you leave it as liquid, the hacker can easily transfer your funds and bye bye to your funds.

The community is always working hard to make sure Hive turns out really great and am very optimistic about Hive. These are the things I consider when advising people to power up and not power down.

This is Not a financial advise

What about you, why do you power down?

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13 comments

@captainquack22 68

almost 3 years ago

I remember when hive sat at .13 cents for almost couple months last year, wish i really had faith at that time. Ive been powering up just to increase my token count, trying to not be so worried about token value lately.

!LUV

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@readthisplease 77

almost 3 years ago

That’s the best way to accumulate, look at token quantity right now instead of token value

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@tblings-art 62

almost 3 years ago

This is a good advice , my friend also advices me to always power up for my own benefit, but most people here are just after earning hbd and extracting everything for consumption...

Good 👍👍👍

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@readthisplease 77

almost 3 years ago

Sadly, their vision for Hive is myopic. I hope they change and learn to power up more

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@yintercept 65

almost 3 years ago

I am still 100% powered up in the HIVE ecosystem.

I've been transferring the HBD I earn on posts into Hive-Engine to invest in alt coins.

Personally, I think there is too much emphasis placed on the Power Up and Power Down buttons. This is called Staking and Unstaking in HE.

I am critical of #HPUD which puts pressure on people to Power Up HIVE. I think that staking an alt-coin is as beneficial to the platform as powering up HIVE.

When one gets down to it. The real is simply: where should I invest my resources?

A truly active investor in the HIVE-O-Sphere will be actively buying, selling, powering up, powering down, staking and unstaking as he engages in the blockchain.

While I am 100% powered up in HIVE. I can't help but think that a truly wise investor would have a portfolio that extends beyond the Hive-O-Sphere and into other cryptos, stock, precious metals and other business endeavors.

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@readthisplease 77

almost 3 years ago

Definitely, I love Hive so much but am also investing in other altcoins. I invest some of post rewards on altcoins hoping they will moon so I can sell and invest back on Hive, earn again, invest in Altcoin and the cycle continues.

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@yintercept 65

almost 3 years ago

I have a higher return on my investment with marginal coins like PAY and BLOG than I have with high flying coins like LEO and POB.

!wine

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@wine.bot 56

almost 3 years ago

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@brennanhm 63

almost 3 years ago

Holding HIVE is definitely the safer bet, as it will benefit from any project on the platform that succeeds. It all depends what your risk appetite, and how much you want to gamble on new projects. If you believe in HIVE long-term then power up as much as possible.

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@ph1102 77

almost 3 years ago

Thanks for the mention, man! Appreciate it!

He invested $300 on Hivepower and $3,000 on proof of brain. Unfortunately the value of proof of brain went really down and the value of Hive went really high. He ended up making a lot of money from Hive than proof of brain.

I like when people share personal stories as it makes everything more real... and this story says it all... Unfortunately, it's not just POB that went down among Hive-Engine tokens, so it's not just their fault... But, on the other side, every token has a similar trajectory regarding the price... Even the big boys like BTC, ETH had the same... The only difference is which one will stay for the long term?

If POB (or any other tribe token) survives more than 3-4+ years maybe they will bloom again... We should look at them like babies, or small children, while HIVE can be looked as a grown adult... That's why it is (and will) be more stable than any other new token out there... That's another value for a long-term HODL...

Cheers!
!PIZZA

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