For the sake of any Newbie that is reading my post and doesn’t know what Hive power up day is, well it’s a day usually the first day of every month that hivers power up at least 10 Hive. It’s not mandatory but it’s like a monthly tradition for all hivers. You also get special badges for powering up from Hivebuzz.
This act is really great and important because it gives us the opportunity of giving back and adding value to the blockchain instead of always taking from the blockchain. This totally helps you grow your Hive power, and helps to reduce the selling pressure of Hive that day, because lots of people will be buying Hive to power up instead of selling.
Hive power up is just less than 2 days away and I can’t help but talk about how far Hive has come so far. I can remember how 10 Hive was extremely cheap you can get 10 Hive for as low as less than $5 when Hive was between $0.17 to $0.49. It was so easy to get 10 Hive to participate in the Hive Power Up Day activity. Then slowly, Hive price started going up and went to $1, 10 HP became $10. This was still not expensive but compared to low prices we used to have before, it was a little bit higher.
Fast forward to now that Hive is on $2 and slightly higher, 10 HP is currently above $20, imagine Hive maintained the $3 price it was before dipping, that means that 10 HP will be worth $30. Are you seeing the gradual increase in value. I’m very proud of the Hive’s progress, but am a little bit worried for the newbies that haven’t built their account enough to afford 10 Hive to power up for the HPUD. Why we that have been on Hive for a while might see it as a no big deal, they might see it as a big deal. Is there a way it can be reduced to 5 Hive as minimum to participate in the Hive power up day? Just to make it convenient for the newbies, or there should be a rule that as long as the account is 2 months old or lesser then their minimum power up can be 5 Hive for Hive power up day.
I’m just smiling right here because when Hive gets to $10, 10 Hive will turn $100 for minimum for Hive power up on HPUD. Can you imagine how huge it will look to upcoming newbies? They will find it almost impossible to participate in the Hive power up day.
The Hive community is really growing and expanding by the day, there will come a time when Hive power up day will be so massive the whole crypto market will feel it. While powering up your Hive helps us as a community, it can also help us individually. Because in a way you are saving your Hive that generates 10% APR for you and additional 2.88% for powering your Hive up. Aside that, it can also help you in terms of security, this is the reason I love delegating my Hive power. When an account gets hacked and the Hive power gets delegated. There will be enough time for the owner to retrieve the account. This is because it would take 5 days for the delegated Hive power to return back to the account of the hacker decides to undelegate before powering down. Then complete power down takes 13 weeks giving the account 1/13 worth of Hive every week for 13 weeks. But if you leave your Hive as liquid, it would be easier for the hacker to transfer your funds within minutes after hacking.