Powering Down HIVE is brave and smart and not bad
I've joined the great Hive blockchain and the ecosystem from here since 2017 and I've always powered up all my HIVE earnings from content creation and curation. I've done that and become a Dolphin and I've reached 7,200 Hive Power. While doing so my Voting Power increased and my curation earnings from that did as well. This is the Core of this blockchain and an organic and easy way for users to be incentivized and continue holding to the assets, but gain influence and power in this ecosystem. Still, nowadays we have some thriving projects on Hive where there can be done investments with better returns and as well there are DeFi opportunities on TribalDex and BeeSwap. So I've decided to take brave action to start Powering Down in order to get more liquid HIVE and put them work smarter and with higher yields for me. And doing so is not bad for this ecosystem, but rather putting the funds where the action is.
By Powering Down my Hive Power in the amount of 7,200 HP I will be getting ~554 HIVE released per week that I will be able to invest in hot projects on this great blockchain. Doing so the money will never leave this ecosystem but will help other projects grow and myself get better returns rather than staking and curating.
It was not easy for me to Power Down, but at the same time, I felt there are many opportunities around me that I am missing by not having a liquid Hive. What I could do with Hive? The first that I am thinking is that I could invest a bit in the Splinterlands Chaos Legion packs which when they will sold out their price is doomed to rise. Second I am keeping a close eye on CUB Finance as they will have another IDO launched as well with an airdrop for a brother platform on Polygon. Third I am thinking to move more aggressively as a Liquidity Provider on Hive as there are great incentives and bonuses.
The space is changing and simply growing Hive Power without taking action on the surrounding projects is simply a game that you cannot win. We need to expand and diversify our investments and always seek to improve the returns if we want to grow faster and reach our targets. I've made my decision, I've Powered Down and I am planning my next steps to invest into. What are you doing in all this time and in these market conditions?
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I'm conflicted on this because I'm wanting to take advantage of the @threespeak airdrop on Jan 6, but there are some very enticing opportunities out there rn. Thanks so much for sharing your perspective on this! Learning so much here about Hive an crypto in general thanks to all the smart people here!
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This is a good point of view and I am thinking about that as well. But for the Speak Network airdrop does it count only the Hive Power or also the liquid Hive?
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I'm pretty sure it has to be staked based on what I've read. Need to confirm!
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Just found the post on the Larynx Miners airdrop from Speak Network and the snapshot will consider the HIVE balance (both liquid and powered up). So it is safe to have it standing in your account as well at that point.
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Nice! Thanks for confirming!!
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Great job boss on the power down
I was really impressed with Splinterlands progress this year but I didnt have a lot invested so I am using my HIVE power down to get a little better position over there. Probably going to put some into HBD savings for that easy 10% and then support some of the other games on the platform as well.
Yeah, buying as many Chaos Legion packs as possible will make a great investment for the future. Imagine those to be sold out in a few months and to have 1 year until the next series. That for sure will put some fire on the price.
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This is definitely a good move. I've also been here for close to 4 years and have also been thinking about doing a power down now and spreading it across various projects on Hive. I still want to stay invested so my major holdings will still be Hive Power.
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Yeah, that is a solid plan.
Even if I power down I will be using the HIVE in LPs, Splinterlands, and other few projects with greater returns. Probably will make the investment in a shorter time and after that, it will provide a passive revenue stream.
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Powering down is good, I am thinking of not powering down but when the price of Hive comes down a little will buy some liquid Hive to invest in other projects and let my Hive Power grow.
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STOPCheck out the last post from @hivebuzz:
Good idea to make some Hive coins Liquid, to invest in good projects related to the Hive network.
The airdrop of SPK Network | LARYNX Miner may be one of the reasons Hive's price continues to rise.
You have to open the application at least once a month to claim the tokens, remember to do so.
The Splinterlands game has also generated a lot of interest.
Good post you have my vote.
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I think the stigma of powering down is alot less than it was years ago. Looking at your reasons I can totally understand the reason for powering down. I did the same as you and now I am going the other way. Going to get back to around 5k so i have an OK upvote. Not a massive one but enough to know I'm there. I will just let the HP build while I use my liquid hive earned from posts to do what you said you were doing. Im not in any rush to reach a certain fish level like before.