I do not have a Wealth Tips post in mind to add to my series right now, but I did I want to write something before ringing in the new year. I was looking back on how long I have been here and weighing my decision to get involved in #LeoFinance and by extension, Hive.
I have not taken the time yet to analyze the Leo and Proofofbrain voting that I have done, but I know they are making money for me. I do plan to invest more in those tokens as time goes on.
A Word of Thanks.
To all of you who have voted on my posts, commented, and engaged with me at different levels. Thank you. Many names come to mind as I write this and you know who you are based on the appreciation I show when you posts come up on my feed. I spend a lot of time scrolling through the new posts when I am on and I like to encourage new users as I was encouraged.
Sometimes I need to run into someone's post a couple times before I hit the follow button. I am working on developing a routine though. Thanks again to you all.
Hive Investing
I cannot state how pleased I am with my choice to toss $17,600 worth of paper debt notes into this little community called #Hive. It is not the most profitable investment I have ever made, but I am pleased nonetheless.
I got about 160,000 Hive and powered them up. Since then, my HP has increased by 20,000 and I am up to 180,000 now. This all happened due to voting and posting during the course of one year.
According to CoinMarketCap.com my little eighteen thousand entry spiked to over a half million dollars at the end of November. Since then, that same money dropped down a bit to a dollar value of over a quarter million dollars.
$17,600 --> $525,600 --> $273,600
I guess I am supposed to cry and pound my fists that I lost a quarter million dollars by not powering down on that day and cashing it all out in one day at the moment of the spike. I think it takes a couple of months to actually unstake Hive Power, so that would not be an option.
I choose to look at the glass as half full not half empty.
The truth of it all is that the price of Hive is up more than thirteen times that of my purchase price, and with the money earned by simply voting, the dollar value of my little investment is up over fifteen times what it was a year ago.
Percentages
If you have read my Wealth Tips posts, you will know that the same has happened to any of you who put in a bit and did not touch it. Just by posting and voting, you would have seen higher returns according to the percentage you put in.
A $1,760 one year ago would be worth $27,360 right now.
$176 would be $2,736 and $17 would be $273
Play with the trailing zeros all you want. Everyone who decided to keep money on Hive made money this year. The differences come in based on percentages invested and the number of posts created during the year. Your results would likely be higher than mine, percentage wise, if you had posted daily.
Further Logic and Stats
I double checked on the average, weekly, dollar figure earned in recent weeks and if the price had been at 1.52 all year long, I would have made over $37,000 in 12 months just for voting on Hive posts and making a couple posts per month. That is amazing in itself.
In reality, that figure was lower because of the first part of the year stayed in the ten to thirty cent range.
Conclusion
This year has been an experiment for me with a new kind of blockchain and a different way of mining using words and votes.
It did not take a lot of patience to see returns on the money that I placed here. My parents never got anything like this on their compound interest from the bank or on their Certificate of Deposits.
Now that I have a full year behind me and a bit of experience with the main blockchain plus some of the other sites built on top of it, I will be ready to invest more and get more involved in projects and proposals in 2022.
One can only learn so much about the workings of Hive in a year. I have an idea of what is out there now and a notion of what other additions are being built to support it all.
If the madness ends related to personal medical decisions and government intervention, 2022 will be a great year for people who choose freedom oriented social media like Hive.