IS POWERING DOWN THE RIGHT THING TO DO NOW WITH THE RISE IN HIVE
With the hive prices gradually rising to the moon, it is safe to say that hive is currently a currency that most people want to have but what happens to those who do not have this currency? Well, the term powering down comes to play.
Powering down in my own understanding is the process of turning hive power to the liquid hive and for those who have no idea what hive power is I will further expatiate; when paid in hive, we get a part of it that is staked and another that is given as HBD, HBD is withdrawable at any time and hive power is kept in like what I would call a safe lock that can be broken but would take a period of 13 weeks for you to get.
Moving on, the question is “would powering down be the right thing to do now” and as I answer most questions, I would say it isn’t as straightforward as it seems.
For me, it took a long time before I finally decided to power down and I had a lot to consider a lot of factors from the fact that I didn’t want to just take from hive but also add, to the overall hate for making withdrawals.
My mind was already made up to not power down but then I had a conversation with @young-boss-karin and she gave me some reasonable advice which convinced me to power down, she said that if I was consistent I wouldn’t notice it and in due time I would have replaced what I took and the reason I considered it was that I have plans of getting a laptop and since I am currently unemployed, it would make it easy to get one.
I decided to power down about 79 hive because I didn’t want to just take too much and for me, I already have a whole plan in place which I am gradually working on.
SHOULD YOU POWER DOWN?
I think it all depends on you, to be honest; do you want to, do you need it, and do you have plans for the money you would get from powering down? It is easy to just take but if you aren’t making investments then there might be a problem.
HOW TO POWER DOWN?
This process is very simple and you can do this by going to your wallet, clicking on the arrow icon beside the heads in the staked hive token category, and choosing power down, you would be asked for the amount, and then your active key and that is it.
OTHER OPTION?
If you decide to not take the route of powering down and you are looking for other options, I would be giving a few.
- Turning your HBD to hive: With hive still rising, you can still make ROI if you do this.
- Buying hive: This is also an option if you have the financial capacity to do so.
- You can also exchange other cryptocurrencies/ tokens to hive.
IN CONCLUSION
I think that with the way hive is going, it is truly something worth investing but like all investments, I would advise you to do your own research before choosing a route to follow.
What do you think of powering down and are you considering it or do you have liquid hive already?
Thank you for opening this box of passion
Posted Using LeoFinance Beta
I don't even fathom myself powering down anything. Lol. Not now, not soon maybe never
I love your spirit.
❤️
One of the reasons I kinda like her..
She said maybe never 😂😂😂
Anty, sha keep your keys well o.
For me I think powering down has a strategy.. You have to know how to and when to.
Thankfully hive and HP have the same value. But holding them as HP is proof of stake.. And that helps the system. Like the OP says.
But when the need arises.. Pls do the needful.
That said.. This is not the moon yet, we never even reach airport.
Abi na NASA
What's ROI?
I've had the thought of powering down too, but then I'm a little scared, what if I power down and I'm not able to build up that fast again.
It's really hard with the rate things are going in this country, every thing gets harder by the day. I've also had thoughts of getting a laptop but it's on hold for now. Right now I need to channel any money I get into ensuring I finish my project successfully.
It's a wise decision if it is actually a very pressing need. We're doing everything to ensure that we have a means to get money when we really need them, so it's good to take the risk sometimes.
I pray it gets better for all of us
ROI- RETURN ON INVESTMENT
I understand the fear mehn, I also had it but a laptop is an investment for me so I went for it, hopefully, I would build it back up as quick as I can.
Ok thanks.
If you see it as an investment then go for it, it'll help you grow a lot faster, I think it's a risk worth taking.
I trust you..you'll grow a lot faster sef, just have faith in you
Yeah I know I would get it back.
No be lie 😏
What did you cook today?
I don't know how to cook.
Fr??
Tell me you're messing with me 😏
I am not.
No no, you shouldn't power down your HP, you need the hive power as Resource credit to engage, read and publish posts. I think you should focus on building for now. My opinion though.
Thanks for the advice dear, I already discarded the thought. There's too little to power down, I'm hodling on and building more.
You're opinion is duely cherished
I'm looking to get a better device, and I'm almost there. I think I can do without powering down.
Ive actually been scalping hive a bit. I had some when it was 1.4 then It boomed to 2.7 I sold. Then now it's 2.2 I bought back. It's very risky but I was able to almost double my hbd.
I think powering down is only wise if what you're spending on will help you get it back. A laptop is very important. I believe you'll get it back in next to no time
That's amazing mehn, I didn't really plan like that maybe I would have.
You've got a solid plan.
At the moment almost all the markets are dipping, so there's still a chance hive will rise when they all start rising again
Fingers crossed then.
I keep about 10% of Hive in liquid at the moment, but I will power down more if we get into bubble territory. We're not there yet though. Hive is still undervalued, in my opinion. I'm speculating that the bull market is going to extent well into 2022, so I think we're still far from the market top, so I'm accumulating for the moment.
Posted using Dapplr
I think I need to start doing that, thank you so much.
I just learned a lot from you.
I think you have a legit reason for powering down, not just to take advantage of the price surge but to get something that would add value to you and that's what Hive is all about; adding value to us and knowing you are currently unemployed, then it makes sense.
I can't wait to see the laptop.
If it wasn't for getting a laptop, I doubt if I would have powered down but I have to because I am tired of writing on my phone.
The moment I get it, I would show you.
Any recommendations because I don't know much about laptops 😆
That's great dear and I can't wait to have you get it too.
I would suggest HP but it is quite pricey and not as strong as Dell. I have heard a lot about Dell products and I feel it would be great and rugged... but if you want fancy, slick and tender, HP would do that for you.
Okay then, was considered the Lenovo idea pad but I would look into HP.
Lenovo is not bad at all too...but I have always been a fan of HP.
Nigerian bias? 😆 cause I know we all started with HP
Hahahaha... Just love how fancy it is.