My Vote is One Hive In Value
Hi fellow Lions,
Today I found out some interesting information when looking at HiveStats in regards to the strength of my account!
My Vote is One Hive In Value
I think it's good to periodically step back a bit and take a look at some things for stuff that is related to the growth of our account. I don't spend hours a day or week on doing this but to look at it here and there, see what the information presents and try to come up with a plan on how we could potentially improve or even just appreciate where we are at.
With Cryptocurrency one of the things we are a lot of times, understandably, focused on the dollar values of something and I think that can be helpful but at the same time misses part of the concept of crypto as a whole! Here on Hive, one of the important things that we can easily see is what someone's Vote Value is and how we see that relative to the currency that most people view it in, $USD. Focusing on that though we may miss something important, and I know I certainly have!
I think it's interesting to see the numeric value of our vote in dollars as a way to easily represent what we can do, and makes it easier to visually understand but then forget to realize the underlying value when it comes to the Hive blockchain. My vote is now worth a tiny but over 1 Hive per 100% vote! I think that's a huge step for me, considering that right now 1 Hive is worth around .58$. Having a stake of nearly 23k Hive Power I think it helps to understand the different strengths of Hive relative to the overall market. If Hive right now spiked to 3$ per Hive, what is going to maintain stability is the underlying value of my vote when it comes to the blockchain. It will be valued at the base layer of the blockchain at 1.0x Hive, which is something I have not kept a close eye on until now but will certainly keep in mind for the future!
Most of the people who post on Leo Finance know the guy Edicted and I've interacted with him a lot and value his opinion and perspective. One of his more famous, in my mind, perspectives is that we are so focused on number bias that it prevents us from getting past that.
I have certainly fallen victim to this focusing on the vote value that I am able to distribute in terms of $USD instead of trying to look at it in terms of how much Hive I can distribute with my votes. Breaking it down, if my 100% vote is a little bit over 1.0x Hive, each of my 10% votes which is my default vote value for PeakD so I can distribute some votes, is that I am sending out .1 Hive per vote as long as my vote power percentage remains around 94% or above. I like the timing of this revelation to me, because it came at a time where it was allowing me to realize what it takes for the current blockchain and vesting to generate 1 Hive per vote.
I am able to use this as a basis of determining the future growth of my account and measure that against others in relative terms of course. I know that it takes roughly 22.3k or so Hive Power to generate 1 Hive value of a vote. So 44.6k to generate 2 hive etc. so it gives me a good basis and I think more people should try to look at it from this perspective so we can appreciate number bias in terms of a $USD value but also understand the underlying blockchain and how it determines value of what we are distributing.
I wish more of the front ends or different pages that are connected to Hive would show this type of information. I think it may not be as popular for sure but I think it's good to be able to see this. Leo is one of the pages that shows us this, where we see someone gets a vote that's worth .34 Leo for example so that's good but as far as the Hive front ends like PeakD or Ecency, we don't see vote values in anything besides $USD now. At one point in the past, PeakD used to show that and maybe it's more technical than other things to see or display but I think it's worth the effort!
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Posted Using LeoFinance Beta
Oh wow, that is awesome. Congrats! Right now I don't pay much attention to the value my vote can give, though I focus on growing my HP. But that is really a good metric to see our account growth.
It's so true we mostly panic as we see the $ value of our account go down but since we've been there for quite some time, the emotion stays only for a while. Can't wait for the $3 hive again though.
Yeah I’ve been focusing on the HP growth part as well but when I hopped over to HiveStats I was just looking around the metrics and saw it and was like whoa that’s cool I don’t know if I see anyone posting about how much hive they give out with a vote, it’s more in USD denomination.
I look forward to seeing those spikes in hive price for sure as well! I know we will get there and hopefully we can settle around 1-2$ hive for a while so we can make some investments. I don’t pay a lot of attention to the price but it is good to see where it is. One thing for me is the lower it goes the more Hive I can power up each month :D
I took a screen shot of my account value last November. That was so satisfying. Can't wait for the next run and the screenshot I'll keep hanging in my gallery. LOL.
Hahah yeah me too!
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STOPTo support your work, I also upvoted your post!
Check out the last post from @hivebuzz:
This is an interesting way to look at things.
Posted Using LeoFinance Beta
Thanks dude yeah when I saw it reflected that way I wanted to post about it because I don’t see many others doing it.
Congratulations! I hope I can emulate what you have done, good afternoon, and have a nice day ahead.
Thanks! It takes work for sure but also a little bit of luck I think!
You're welcome and have a nice day ahead (^_^)
How do I sign up using ur referral presearch link?
Click on it and enter your email address to sign up. You get 25 PRE tokens for free for using the link. Presearch is great but it takes time so don’t expect to earn hundreds of dollars in a month.
Okay boss, can we chat in any of your social media handles the more?
Lol nope I only use hive. You can read my previous post here
https://peakd.com/stem/@cmplxty/presearch-and-keyword-staking
A 1 hive vote is awesome! Well done!
Thanks man! Onward and upward for sure!
That’s pretty cool you reached that vote value. Congrats!
Yes, it does give you some insights on other things.
Let’s grow some more…
Happy Monday @cmplxty
Posted Using LeoFinance Beta
Thanks, let’s keep growing as much as we can! It’s a good way to think about things I think. If we take a step back and think of our votes as 10% of 1 hive, or .1 hive etc it makes things a little different meaning!
You are welcome @cmplxty 😎
Let’s do just that… grow a bit more.
Indeed, changes one perspective.
Posted using LeoFinance Mobile
Congrats man. I don’t use PeakD so I didn’t know there was a feature like this there. Going to have to check it out. I agree that it’ll be really cool to have other front ends show vote value in Hive as well.
PeakD and Ecency are my preferred front ends for the general blogging stuff. Leo finance for those community posts but PeakD has so many awesome features and things on it that it’s a good idea to get a feel for it!
Yeah I mostly only use it when I want to cross post, but I haven’t done that in a while and so haven’t opened peakD. I think Ecency has kind of grown on me.
Ecency is very a good front end that’s for sure! The cool thing about these front ends is that each of them has their unique qualities to them.
Exactly! I think the mobile app is what has me hooked to Ecency though. I like anything that comes in mobile app form.
Yeah the app is nice. Hive keychain has a good mobile app too where you can access all of the different things you need and have your keys stored safely and securely. It’s a good thing to keep in mind!
Yeah I think I’ve come across the app before. Took me a while to understand that if I wanted to use keychain to open HiveEngine for instance, I need to launch HiveEngine from the Keychain App’s browser. Before that, if I tried it on my normal browser(Safari) it would just stay there staring at me when I tap “Open with Keychain”.
This is really interesting. We easily lose sight of the fact that Hive has its own value and that the dollar value only exist to translate that into something the rest of the world understands.