The Importance Of Focusing On HBD & Hive Power
So I was reading a post from @attentionneeded ’s post on Hive Power or HBD Savings, Which Has More Benefits or More Important?
and this sparked a great insight in my head. The hive ecosystem use case is really small to the extent that we have to ask this question. We know that the Hive user base is not as much as other blockchain, but as a small blockchain who is striving in this Web 3.0 space without no venture capitalist nor CEO, I will say that we are doing really great, even though the progress is slow. But if we are being sincere, we are only considering the progress to be slow, because of the value of Hive.
Lets look at the space, the blockchain technology and the ecosystem, it is doing hugely well, with lots of ideas springing up from different areas on the blockchain, the people on the blockchain have achieved a lot, so much that even crypto projects on the top 100 list have not had the chance to. We need more people into the space, tihs will either entail massive PR that will cost a lot of money, or we wait for the quality of the blockchain to bring in new users organically. Either way, the end goal still remains showing Hive to the world.
Imagine the development and the enthusiasm to improve the blockchain use case and utility increase 10X, Hive will be unstoppable and probably be on the top 10 list. Its a fact, you know this and I know this, if you have spent at least a month on the blockchain you should be able to testify. Now, back to the main issue at hand, our beloved native tokens, which are the Hive and HBD. When you power up (Stake) the Hive, you have the Hive, now this Hive power, as the name implies gives you powers. Its like having superpowers in the X-Men mutant school. You have access to lots of tings especially resource credit, which can be used for a lot of things. Do you know that with your Hive power you can send Hive and HBD for free. Yep, that is a super power you automatically get when you have Hive power. This then makes you feel invisible because, now you can do what a lot of other blockchains can’t, other blockchains get glorified for low transaction fee for what you can do for free on Hive. Not only can you do that, you can also share this opportunity with others by delegating, and also get rewards for curating because of your Hive power.
Your resource credit is what allows you do all these and more, if this doesn’t scream massive importance, then you haven’t spent enough time on the blockchain. Now lets not forget our beloved stable coin that has been doing absolutely well in stabilising its $1 peg price. The other day, the value skyrocketed over $3 and got stabilised by the HBD stabiliser, this beats what a lot of other Algorithmically stable coin couldn’t do. The utilities doesn’t just stop at being a stable coin its about to be used in the upcoming Ragnarok Game. More utilities are expected to be implemented as time goes on while also trying to maintain its $1 peg price. Don’t forget the juicy opportunity of staking HBD and earning 20% APR. At this point it is fair to say that these two native tokens are kings in their own lane and shouldn’t be compared. Why choose between the two when you can have both.
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HBD simply ensures a steady revenue stream without market volatility. Hive Power simply ensures your influence in this blockchain and it builds up for a financial future. I focus on both of them and wished I have done this in earlier stages.
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Glad you know better now. They are both beautiful
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Having both tokens is important as the relative stability of HBD in recent months has allowed us to have a set amount of the asset that we know we can get a decent return on or spend and be fairly consistent. One of the true tests for HBD and Hive is going to be when a large holder of HBD decides to convert it into Hive and how the system is going to react. Are people going to spread FUD and start dumping things left and right? The situation is inevitable and I wonder what's going to happen when it finally comes up.
Hive Power is certainly going to be a crucial asset to have in the future, not only for voting and curation but for the resource credit demands that are on the chain. With nearly 22k HP in my account, I'm only able to get 3 account creation tokens max per exchange for it on the RC level. That's amazing because a year ago when I had about 13 or 14k HP, I was able to get about the same amount. This means the resources on the chain have increased considerably and will only keep increasing. I wonder if soon, you won't have enough resource credits to comment as much as you want until you reach about 300+ Hive Power. Right now I think it's about 75 HP and you can comment as often as you'd like in a day without worrying about recharging too slowly. My LEO account here has drained the RC often and I'm only at about 40 or 50 HP which is great to see! Slowly building it all up!
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this is great, i will like to know how to do account creation or how to get account creation tokens.
I’ll show you how to later when I get back on my laptop!
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alright, thanks a lot, i appreciate
Here's where you can do it easiest. There are some other ways but I find it easiest on PeakD to do this!
Go to your wallet on PeakD. You should have this down arrow here on your wallet under your Hive Power section. If you click it, if you've got enough Resource Credits to claim an account creation token then you can claim one. It will drain most of your Resource Credits but that's okay! You regenerate them so much faster than you need to use them in most cases.
It also varies throughout the day how many account creation tokens you can claim. Some days I can claim 4 max, other days I claim only 2 or 1. It depends on how active people are on the chain to calculate the resources you will use to generate it. If you don't have the ability to claim one in the morning where you are, try the afternoon or evening. It varies but you should hopefully be able to claim at least one!
You nicely answered the benefits of choosing to keep both, thanks.
Yes, I agree that both Hive and HBD each have their own value and purpose. I am powering up Hive and putting HBD into savings as I get them. You don't need to choose one over the other.
!CTP
!ALIVE