I love the Hive blockchain!
In other news...Water is wet!
I know that might come as a surprise to many of you reading that bold statement about my love for this blockchain but follow me here for a few :)
When I first joined the chain and understood how the tokens interact and benefit from each other, it blew my mind.
A content creator / entrepreneur can develop a following here, by producing great content. They are rewarded for said content and get a payment in 7 days that includes two glorious tokens...
The first, staked Hive or as we know it...Hive Power!
The life blood of the platform and what's needed for governance, curation, delegation, reward distribution and so much more.
And the second, liquid Hive Backed Dollars or HBD.
The stable(ish) token on the blockchain.
Both are truly remarkable creations and once you really see how to benefit from both, your mindset turns into...Accumulation mode!
Now, let's think long term here and I want to throw some numbers at you.
These will be using my account as an example, and somethings I've been thinking about over the past few weeks on how to approach 'accumulation mode' on Hive.
Right now, I have around 88,000 staked Hive. 88k Hive Power that I use for all the actions I mentioned above. Currently, this is what I'm 'earning' from that stake when it comes to passive income...
This is my APR for Hive Power, around 3%. Which isn't a ton but let's see where else I'm getting a return from the staked Hive...
Here's where I'm earning the most from staking Hive. The curation rewards.
So add it up and I'm earning 11.39% a year on my Hive Power which is around 1000 Hive, give or take. That's a lot better than most banks will give you and if you are bullish on Hive like I am, the value of those tokens I believe will be much higher in the future.
That's the passive income side of staking Hive.
And with my current active endeavors, I'm earning about 40 Hive Power per day which means 14,600 roughly into my account each year. Add the APR for the stake and winner winner chicken dinner!
Seems a lot easier to do the math on that for sure lol
My golden rule for HBD is 60 = 1...Meaning for every 60 HBD I put into savings, I'm earning 1 HBD in residual income monthly. So 'accumulation mode' is in full swing, combined with the power of compounding interest and you can see why so many people are very excited about HBD Savings.
So it begs the question...
Which do you prefer?
I completely see the argument for focusing on either or, but I'm in the camp that thinks a double attack works best. But then I start playing with numbers...
Sell some Hive, stick it into HBD and let the magic of compound interest do it's thing. You see, my goal really is to 'live' off the blockchain, and if I can do that on HBD alone, it keeps the rewards pool healthy and happy.
But at the same time....I love to create and curate so....
Yup, the answer for me is both!
And with Hive, I can feed both beasts because through creation and curation, I'm earning both liquid HBD and Hive Power each and every day. Imagine where we will all be in 5 to 10 years from now, if things continue to get better on hive and those interest numbers stay the same.
That's exciting stuff :)
