After two days of inactivity due to the suspected battery problem of my lap top, yesterday with the help of two friends, I was able to return to my online engagement on Hive. They finally found out that the real culprit was my computer charger. Sometimes I could not avoid to laugh at myself to miss a simple trouble shooting like this.
While taking a break from Hive, all I did was to return to my old school way of doing things, such as writing down my thoughts on my record book. I was reflecting on my recent discovery of the usefulness of Dapps and tools on Hive. Among more than a hundred Dapps, as of now, I am only using ten of them including Splinterlands of course: PeakD, HiveBlog, Ecency, LeoFinance, DBuzz, HiveBuzz, HiveBlocks, HiveNow, and Hive Stats. DBuzz and HiveNow are my most recent discoveries.
Using DBuzz, I stumbled with savvyplayer who introduced to me the utility of tipping bots: LUV, PIZZA, ALIVE, LOLS, PGM, and others. Just this morning, I read savvyplayer buzzed his transformation into a Minnow. I congratulated him and told him that I have the same goal by the end of the year.
Using the HiveBuzz tool, one can track his progress on the Hive blockchain. Thanks to arcange, techybear, and captaink for designing this amazing tool. I now see that with my 121 Hive Power, I am classified as a Red Fish. I do not know exactly what amount of HP is needed to change into a Minnow, but as I checked savvyplayer’s ranking, at least one must have 550 HP. I think this is a more realistic goal for this year. Reaching the higher level of ranking such as becoming a Dolphin or an Orca requires several years of dedication and monetary capital. However, for someone nearing 60, I think it is better to settle with a more achievable goal.
From here on, I want to describe the process in my mind in order to achieve such Minnow transformation within a year. A disclaimer is proper at this point. This is just a product of my personal experience and analysis after realizing the usefulness of the tools provided on Hive. Just take it as a curious perspective from a five-month old crypto enthusiast. This I hope will give a long-term perspective for all the Red Fish out there.
Two weeks ago, I updated my crypto goals for 2022 that I first published last November:
This time, I won’t include other tokens, but focus instead on HIVE particularly on HIVE Power. HBD too will not be included.
I wrote down in the above updated goal that I will try to power up at least 500 HIVE this year. However, as I stumble with Hive Now, a website created by penguinpablo, I saw there an app calculator that shows one’s vote value depending on the quantity of HIVE you staked on the blockchain. As already mentioned, currently I only have 122 HP and my voting power is just $0.0054. If my understanding of the incentive mechanism on Hive for curator is accurate, every time I upvote one article, I will receive 50% of that voting value, which is $0.0027. In Philippine centavo, that is equivalent to 0.135.
With such a miniscule incentive, for some, curating content might appear a waste of time. Nothing is farther from the truth. In fact, as part of the curation process, a Hiver is expected to first digest the content, meaning to carefully read it, reflect on it, and then engage with the content creator by giving a sensible comment. Of course, other’s way of doing curation maybe different from this approach.
If a curator will do the foregoing process, in addition to curation reward, he will also receive an author’s reward by simply commenting (not guaranteed) plus the learning he derived from reading, which is priceless, and not to mention, the privilege of knowing amazing people.
This is the beauty of a social media with an incentive mechanism. Unlike in Web 2.0 social media, people just expressed their thoughts without considering the mental and emotional impact of their comments on the readers simply because they’re probably anonymous and their action has no financial consequences.
Returning to that idea of curation as a waste of time, note that my example is coming from someone who only have 122 HP. How about if I can make it to 1,210 this year? What shall be the value of my vote? If you will use that calculator app provided on hive-now.com, you will come up with $0.0542. Divide that by 2 and you will have $0.0271 as a curation reward. Again, in Philippine peso, that’s 1.355. Still small, isn’t it? This is the reason why I am revising my HP goal from 500 to 2,225.
If you have 2,225 HP, your vote value is $0.1. How much capital you need to have in order to have that quantity of HP? With the current price of HIVE @ $0.9328 (Note: this is the price HIVE at the time of writing this article), you need at least $2,075.48 or PHP 103,774.00. I am assuming that by now, you get the idea. Your voting value gets bigger as your HP increased, at least, from the perspective of a Red Fish.
Provided that you have that quantity of HIVE staked on the blockchain, every curation you make, you will earn $0.05 or PHP 2.50. If you can curate 10 articles in a day, you will receive $0.5 or PHP 25.00 per day. How about if you have plenty of time to curate 50 articles? I am not sure if that is doable. Let us just take this number for illustration purpose. Granting that you can do that, you will have $2.5 or PHP 125.00 per day. If you will show up on Hive on daily basis and you can exactly repeat such pattern in a month, multiply that by 30, and you will have $75.00 or PHP 3,750.00 per month.
Remember that when you start this project, you only have $2,075.48 or PHP 103,774.00. After a month, you will have $2,150.48 or PHP 107,524.00. That’s a total of 3.6% increase in a month. And this is compounding and so in the following month, you will have a different story.
This is how I describe my anticipated evolution from a Red Fish into a Minnow.
Grace and peace!