I wrote a post yesterday about using multiple accounts on Hive for different purposes. I made a longer introduction on it regarding the history of Hive, engagement and distractions, and that might've put some of my readers on the wrong track, judging by the comments. My mistake!
While you can use multiple accounts on Hive for various purposes, from segmenting content for better branding (crypto, travel, life, gaming, etc.) to the type of activity it is involved in (posting, gaming, financial, etc.), I only wanted to refer to the financial management part in that post.
I don't segment my content anymore using different accounts, and even when I did, I couldn't do it consistently at a high level, so I decided to give something up and consolidate the rest in one account.
But what I think was misunderstood in the previous post was exactly the point I was trying to make: using different accounts for financial management.
So, I'll try to explain again, focusing only on one example and without over complicating things, which I sometimes do to offer more information. Often, more is less.
Let's say you have 1 Hive account XYZ and you want to save HBD for 3 different purposes:
- to participate in an announced presale with the amount you decided upon
- to buy HIVE regularly as it dips
- your main stash, you don't want to deplete every time there is an "opportunity" to spend HBD
How do you manage to do that with one account? If you want all 3 amounts in savings (maybe the 2nd one partially liquid too), you can't really, unless you keep a very tight off-chain accounting of what the HBD amount in savings represents (how it is allocated for each purpose). That's quite inconvenient and is prone to errors if you forget to update it.
But if instead of 1 account you use 3 accounts, that's quite simple. People thought it would be difficult to manage. But it's not. If the separate accounts are not involved in posting, curating, etc. all you have to manage is the liquid HBD and the ones in savings.
Let's say you have accounts XYZ, XYZ2 and XYZ3.
Let's say XZY is your main account, from where you also post. And let's say that's where you keep your main stash of HBD, the one you don't want to touch every time there is an opportunity.
On XYZ2, you would add HBD to savings (and keep some liquid too) to buy HIVE dips, since that's another one of your purposes, as listed above.
On XYZ3, you would add HBD to savings to get it ready for the presale you want to participate in.
What does this accomplish?
It is a better management, and also prevents you from using more funds than you have allocated for a certain purpose if you decide on the spur of the moment to do so, without properly thinking about it. If you want to add more funds for a certain purpose, you'd have to take more steps to do it and that could potentially stop you from FOMOing, for example.
I don't know if this makes sense to others as much as it does to me. But yet again, I am a pretty organized guy (for the things that matter to me, lol), as you probably have seen from my Hive goals posts.
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It's a good way to pick what interests you.