We are in a bear market. Still unaware of the fact if there is going to be another bottom or not. New creators on Hive must be wondering why their rewards are diminishing. In a bear market, when the Hive price goes down, your rewards go down. That's how it works.
At the same time, blockchain starts printing more Hive. And that's the leverage we have over others who are not using Hive or any other Web3 social media platform.
This is an opportunity to create a massive stake for yourself during bear markets.
Upvote Value
Users having a single upvote value in hundreds of dollars are now giving out upvotes for only $30-40 at 100% vote value. Since Hive went from a little over 50 cents to 30 cents, your rewards must have been reduced by 40% approximately. That's how the algorithm works. Vote value is dependent on the market price of Hive.
Number of Upvotes
Since the activity is low due to bear, many users go away and might come back when there is another bull. So your tiny upvotes must have been gone. Even some of your peers have stopped posting. As a new user, you were already getting pennies but now those pennies turned into "next to nothing"
It's disheartening and demotivating. I have been there! But let me tell you some secrets:
- Bear markets are for building. Bull markets are for Netflix & chilling
- Rewards pool is limited. Competition is low.
What To Do Now?
Since we are in a bear market and you have decided to build your personal brand, there is a two-step solution to make it work for you and build a massive stake before the next bull:
Two-step solution:
- Post more
- Comment more
Do this daily for the next 5-6 months and see your rewards growing as you make more connections. If the next bull is 3 years away, you have a lot of time to build a massive stake.
For more juicy tips on how to survive on Hive as a creator, follow me. :))
Follow: @finguru
Twitter: https://twitter.com/finguru6
Discord: finguru#4062
Not financial advice. For infotainment purposes only.