After skipping the last week's #MyHiveGoals, I am here again... I didn't skip the previous one on purpose... I was sick and not that "able to work" last Sunday... Luckily, during the week I got better and better... In the first place, I was worried that it will catch me like it was last summer and I don't want to repeat that experience again...
So... Today's topic is trust issues... Do you have them? I don't mean on trust issues with your partner or friends, but more in financial institutions and the crypto sphere... 😃 I have to admit that one of my main reasons to go full in crypto was exactly that... Losing faith and confidence in our traditional finances... As I experienced hyperinflation, deflation, and inflation on my own skin, I have realized that "politicians' promises" don't serve anything...
Created in Canva.com
When Bitcoin was invented, it was a perfect solution for people like me... I didn't understand from the beginning what it is, but when I did, I had no doubt about the tech... By kicking out the middleman, and kicking out the "promises", you can't have "trust issues"! Smart contracts, blockchain tech, machines, and algorithms are doing the middleman's work! Tokenomics are clear and transparent, so there is no way that your assets will be devalued, which happens a lot with fiat currencies! Every time that new USD, EUR, or other currency is printed, the money in your pocket is worth less!
Unfortunately, some tokens aren't 100% transparent, and we have a lot of them in the Hive-Engine's layer... Smart contracts that we have are powerful, but they have their flaws, and one of the most important is that the token creators can do almost anything with their tokens at any time... Because of that, we saw some of the tokens losing value rapidly as token creators were minting huge amounts of additional tokens... Later on, those tokens hit the market, create sell pressure and the value goes down... On the other side, they can be staked, and your curation rewards APR drops significantly! In both scenarios, your token bags got devalued...
As most things are transparent and you can check them in blockchain explorers (checking and following transactions), I saw that with my own eyes and that's one of the reasons why I pick Hive-Engine tokens for my portfolio very carefully... So, the question from the beginning, about trust issues is still present with some of the tokens... IMO, that's a big additional risk and I'm willing to take it ONLY if the potential rains are significantly higher...
In conclusion, if you want to invest in Hive-Engine tokens, you have to DYOR, but also, you have to look at the "human side" and research the token creators, their history, honesty, and knowledge...
It's time to go back to other numbers for #MyHiveGoals... In the beginning, let's check out HiveStats...
screenshot from hivestats.io
Oh, I just got aware that when I did the last report, it was in a similar condition as this one, as I skipped the previous week's report back then too! Huh... I have to work on my consistency... I know that I was sick, but still...
Anyways, the numbers did go up during the last two weeks... I was creating fewer posts, but I was doing curation every day, and I was powering up some HIVE every single day... In total, I have accumulated 470 Hive Power, which is around 235 HP per week! My weekly goal was to accumulate between 200 and 250, and I have reached that goal! Also, for the first time, I have reached my MONTHLY goal for Hive Power which makes me happy as it's a good confirmation that I'm on the right path to reach my yearly goal!
As for my LEO Power goal, I didn't have good progress in the last 2 weeks... As I distributed some of my personal LEO tokens for the PHPool delegators last week, I had fewer tokens to stake this time...
In the last 14 days, I have added only 110 LEO tokens to my LEO Power goal, which would be 55 tokens per week... The price of the LEO tokens went back down a bit, so that gives some hope of easier accumulation... But, on the other side, we are getting fewer LEO token dividends for HivePower delegation to leo.voter and that makes my accumulation harder... Instead of 16% APR for HP delegations, the real number that delegators are getting is around 12%.
GAMING GOALS - Flexible Goals
As I was sick, I was "playing" the Rising Star game on the "auto-mode"... Just clicking when the mission would run out, joining RAVES when the previous one would finish, etc... Also, I'm a bit worried about my EGO stat in the game as I can't lower it under 45%, so I'm doing more music lessons which directly means fewer STARBITS for buying packs and cards... Despite all that, I have opened 36 packs during the last week, or 72 packs in the last 2 weeks...
In the last 14 days, I have added 206 Rising Star NFTs to my collection!
When the GLX token hit the bottom and start to go up, I stopped buying tokens from the market... As I had some other "triggers" that I failed to execute, I decided to keep this one... Stop buying when the price goes up! But, that doesn't mean that I have stopped with my accumulation...
In the last 14 days, I didn't buy any GLX token, but I did re-stake all my earnings... By doing only that, I have grown my GLX token stash with additional 4820 tokens in 2 weeks! Just today, I hit 140K GLX tokens! Next stop, 150K!
It's time to update the numbers and put them into the spreadsheet until the next week! So, freshly updated numbers for #MyHIVEGoals, on June 25th, 2023 are:
These are my initial goals for 2023 created on January 15th, 2023:
Join me in this awesome #MyHiveGoals and let's grow together! It is fun, it is motivating, and it will keep you focused!
Thank you for your time,
ph
PS. None of this is financial advice of any kind...
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