Thinking about powering down some Hive to book profits

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The price of Hive is very good and I'm glad that it is well placed above 2$. I'm not sure how long this can last but it is always good to make use of this opportunity. I wouldn't say that this is the right time to sell our Hive and exit. I'm guessing this can be a good time to book some small amount of profits. I did participate in all the Hive Power up days in the last two years and even from the Steem days but being a part of this ecosystem for close to 4 years now, I wanted to take a bold decision to book some profits.

Along with this, I have also been thinking about taking some more bold decisions to completely stop using my current account and get started fresh with a new account that people can easily remember. It can be a tough journey to build my base with a new account but I want to go for it. I believe that I would be working on many projects in the future and gradually that can also start talking about my contributions to this Hive ecosystem. When that happens, I want to be known with a good account. I still haven't arrived at any decision yet but I'm thinking on these lines.

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Powering down Hive is a smart move

I recently read an article by @beehiver about his plans to power down the hive and diversify it on other projects. I'm also thinking the same thing. I initially thought 25k Hive power would be the right amount for me to stay invested and whatever I earn extra over that, I should take out and invest on other projects. But I wanted to invest further and I even stretched my goal to reach 27k Hive power before the end of the year.

Sometimes makes me feel that if I keep going like this, I wouldn't stop powering up Hive and most likely I will also not have enough liquidity in hand to invest in other projects. This is one of the reasons why I think powering down Hive is a smart move. Another good advantage we can see here is the price of Hive. If the price had been at 50 cents, I should have had second thoughts to wait for some more time. As the price is doing really good, I wanted to make use of this opportunity to book some profits.

There is no harm in selling some Hive at the current price and buying it back again when it falls down again. Nobody would have expected it to cross 2$ before the end of the year. Everyone knows that Hive has greater potential but nobody would have expected it to pump like this. I did book a little profit now and then but I want to book a bigger profit and hold them for the right moment to invest back in Hive. That way my stake will also grow and I will also make use of the opportunity.

Clearing some debts in my real life

Another main reason why I wanted to think about powering down Hive is to clear off some debts in real life. Thanks to @codingdefined for this suggestion. The money that I earn here would be a meaningful one if I use it for some real purpose in my real life. I understand that there will always be a need to invest more and keep a good stake that will give me a decent passive income. But at the same time clearing my real-life debts and working more towards a self-sustaining lifestyle is also something that I always dream about.

I haven't decided anything yet on all these. These are some of the thoughts that have been flowing in my mind. I get motivated when reading experiences and thoughts of other people and also when I hear ideas and suggestions from others. I have to think a little more and come up with a decision.



Posted Using LeoFinance Beta



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17 comments
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Bang, I did it again... I just rehived your post!
Week 83 of my contest just started...you can now check the winners of the previous week!
!BEER
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I am also tempted to power down for the same reason, to pay some bills.

But also because I run a witness node I will have to renew the server soon and I want to renew for 1 year (so I don’t have to worry about server expenses for another year) and use a better server and that won’t be cheap.

But I have not powered down yet because I am enjoying how much my upvote is worth!

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Yeah, upvote worth is indeed a great thing right now.

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Taking profits is never a bad idea if it can be needed! Or do some good :D

But I don't understand why you want to make a new account? Oo

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Many people expressed that it is hard for them to remember my name. Especially the OTP number that I have behind my name. I should have done this a long back but wanted to do it at least now. Also, a small effort to make people remember me easily.

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You are just Bala for me, easy to remember :P

Ohh well, go for it, if you feel like its worth it :D

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I don't have any debts right now and its really nice so I understand why you would want to pay it off. Just take it as a chance to start off in a better position and you should be fine so long as you continue to be active.

Posted Using LeoFinance Beta

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That is a better idea, unless and untill we don't put our investment in best use, it assume to be useless

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I think bringing some profit out to the real world is actually good so that we get best of both worlds.

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Becoming debt free is a great reason to take some profits!

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Why you want to make a new account 😅

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Because my current account has lots of numbers in it. 😉😂

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