Your input is appreciated ;)
Lately, my goal is to power up my account this make it move valuable. But instead of simply set my potential rewards to 100% Hive Power, I set them to 50% HBD and 50% HP. Then later when rewards arrive after a week, I go to the market and sell my HBD to get Hive.
I believe this gives the following advantages:
Long terms, I think this helps elevating the price of Hive. But I may be wrong, I don't know. What do you think?
The second advantage is that this process gives me more flexibility as I can either power up the liquid Hive or I could buy some tokens at the Hive Engine and support tribes and initiatives I find interesting and promising.
I'd appreciate your feedback on that matter, thank you and have a great day!
The background image is a snap I made with some money that I have left from our photo-travel to Jordan in January ;)
Copyright: Damian Hadjiyvanov, Light Captured
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Thank you for all the support!
Have a great photo! :P
Thank you! I'll let you know if I get that tenth of a beer later ;)
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I just heard about a game here that can give you passive income, it’s called Sim. Have you tried it? I wasn’t able to get it on my phone.
That's the first time I hear about it, please provide more info? Thanks
I will when I find it again
Thanks!
@lucyho
isn't it https://dcity.io ?
Yes that’s it, I couldn’t find it
I prefer to keep some of my currency liquid. More or less for the reasons that you have stated. But I also convert my Hive to other coins, mostly LTC.
I like to have a mixture of crypto, and have at times needed to convert my crypto to Fiat. Such as a short while ago when I needed to pay off my wife's credit card, which I did with my remaining Steem.
So it makes sense to power up what you can afford to power up. But also keep some liquid for use or trading as you see fit.
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Thank you, that's a sound advice. Absolutely makes sense and provides much more flexibility! Cheers and stay safe!
I think that's a good strategy. I do the same but instead of buying HIVE on the market I use the convert feature. That way my HBD is burned instead of ending up in the market. 😉
I did that conversion few times but from my own calculations, I get less Hive. Plus the waiting time. I didn't know it gets burned that way, probably a good idea speaking long-terms. That would be an interesting investigation - which one is better for the blockchain economics - buying Hive with HBD or converting it instead.
Also, not sure where, I've seen a warning that if HBD is more than 1 USD, conversion os not recommended. I am not sure why though, I hope someone explains it ;)
I plan to accumulate HBD from rewards for conversion to altcoins. Most likely, I’ll build up some Dash savings with the rewards.
I buy HP directly when powering up, or use HIVE in my wallet.
HBD is also good to keep around for when price dumps, you get more Hive.
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"HBD is also good to keep around for when price dumps, you get more Hive."
Sounds like an awesome idea. Few times, when the Bitcoin was falling down I've noticed HBD also goes down but not to such extent. Thank you :)
Buying hbd in internal market doesn't make the price higher, buying in exchanges is what makes it higher. I think powering up is better, that way you burn some tokens. Upping your game with tribe tokens is a good idea, just make sure the tribe is still good to invest and profitable, otherwise you just going to lose your money. People still not using much tribe tags here, maybe they will start using them later... who knows... Good luck!
Thank you, @blacklux, good to see you sound and safe!
Actually I buy Hive and sell HBD on the internal market. Then I either power up of send some Hive to my Hive-Engine wallet. I guess these internal market trades should up the Hive price a bit? Or am I missing some angles?
Me alive! Internal market trades doesn't affect hive price but u can exchange from hive to hbd quicker.
Thank you :)
I had them to 50-50 too but with the price fluctuations and the 3 day waiting period I noticed that some times I was loosing money. So I changed it to 100% power up and every now and then I do a small power down so that I'll have the liquid hive I want. Of course I am no expert, I just figured this out as the most reasonable to me!
Good luck :)
Thank you :)
I have exactly the same observations with regards to the 3.5 days conversion. I felt like I'm loosing some and the waiting period just adds to it.
I agree that's the fastest way to power up but I suspect powering down might be seen as something bad from the community? I am not sure though, as I am no expert at all, just like you say :))) Stay safe, mate!