In this post I cover the last ‘investment’ from my steem power-down - hive. In addition to some free BNB, RVN, ATOM and ETH, I managed to collect 394.021 HIVE from five weeks of steem power-down. At the beginning of the power-down period my Hive Power (HP) was less than 1000. I recently passed 1500.
Money out of thin air?
I remember July 2017, prior to the bitcoin-bitcoin cash hard-fork. I’d just started to take notice thanks to crazy price rises of BTC and ETH. I was doing some initial research into how I could ‘invest’ a small amount of money to ride the wave. I decided to wait until after the hard-fork because some of what I read warned that the BTC price could take a hit. Wrong. Anyways, not long after I invested a small amount into BTC. The bitcoin cash hard-fork is one of the great creating money out of ‘thin air’ stories.
Source
Likewise I think the steem-hive hard-fork will be viewed similarly, especially if hive is still around in five years and it gets some mainstream traction. I think also the idea of what creating money out of thin air is may be viewed differently as a result. There is something to be said for the power of communities. I think this hard-fork proved that communities have value - but you cannot simply buy it. If you buy a blockchain asset like steemit and the community is not behind it, where is the value? Maybe some hard lessons were learned!
My new hive strategy
Prior to the hard-fork I was 100% powering up. Thanks to the 394 or so HP boost, my strategy has changed a little. I’m now 50/50 in an attempt to accumulate my liquid HIVE balance before transferring into some of my higher conviction cryptos (eg ETH). I’m comfortable with the 2-3 HP a week I make just from ‘curation’ (mostly auto-votes) that slowly compounds my voting power. I post every once in a while to build my HIVE balance. I’ve got a backlog of post ideas that I look forward to writing over the coming months and we’ll see how it grows.
Thanks for reading. Thanks J#stin S!n for killing steem, thus bringing hive to life and transferring more wealth to Hiveans (Did I say that right? Is that how it’s spelled?)!