Hive Basic Income Sponsoring, a Small Hive PUD, and Random Hivelandian Thoughts

Over the course of the month of August, I bought 100 Hive Basic Income units, sponsoring units for 34 accounts. These are the accounts I sponsored and how many units each got:

@bewithbreath - 2
@bhoa - 2
@bryan-imhoff - 3
@comingalive - 15
@davedickeyyall - 3
@deirdyweirdy - 2
@drumoperator - 2
@dswigle -2
@edicted - 2
@enforcer48 - 2
@enginewitty - 2
@ericvancewalton - 3
@felander - 2
@felt.buzz - 3
@freewritehouse - 2
@hlezama - 5
@jacobtothe - 2
@goldendawne - 3
@intothewild - 3
@jayna - 3
@maneco64 - 3
@mariannewest - 3
@markkujantunen - 3
@mattclarke - 2
@overkillcoin - 2
@phoenixwren - 3
@pundito - 2
@silvertop - 2
@soyrosa - 5
@steeminganarchy - 3
@themadgoat - 2
@underground - 2
@zekepickleman - 3
@zoidsoft - 2

Obviously a bit of favoritism for @comingalive but since he has the unique misfortune of being my son, be so kind as to cut me some slack.

The now awkwardly-named @steembasicincome’s service is not without its detractors. Some think of it as nothing more than a foul vote-buying parasite. I’m not in that camp. I’ve always liked that it’s inherently good at spreading around token distribution. By design, whenever you’re buying a unit for yourself, you’re also buying a unit for someone else. So in terms of selfishness, right off the bat it’s only half as efficient as self-voting, something that most accounts are not completely against as long as it’s not done 10 times a day like He Who Must Not Be Named. And, let’s face it, from a Return On Investment perspective, SBI/HBI sucks. IIRC, back on the old chain, someone crunched the numbers and calculated that it took more than two years to achieve a positive ROI from buying SBI units, and that was with 75/25 rewards rather than the current 50/50.

But my days of big buys of units are over. Since I retired a bit over a year ago, my discretionary income isn’t what it used to be. So I’m no longer buying crypto with fiat, much as I’d like to. Any units I buy now are funded by what I’m earning here, and that’s all over the map. I used to do pretty much all 100% HP posts (other than sporadic Actifit posts at 50/50), then did some posts with @reward.app as the beneficiary (I’ll probably start doing those again sometime soonish), lately mostly 50/50 posts. Those, combined with earnings from some delegations, result in a semi-steady flow of liquid earnings. Some has gone to HBI units, some has been powered up, some has been donated to various worthy causes, some has gone into buying Hive-Engine tokens.

IIRC, other than 10 SBD way back when on the old chain that I experimentally converted to a Target gift card, I’ve yet to cash out. My plan on the old chain had been to never power down and until Justin Sun’s hostile takeover, that plan remained intact. But after he started a dumpster fire, I powered down there and powered up here.

Once again, no thoughts of powering down here ever. Sure, I wouldn’t mind being able to siphon off a bit of liquid rewards here and there to fund my baller lifestyle. Hookers and blow don’t come cheap. But once I power up, it stays powered up.

So the little bit of liquid Hive I have on hand got powered up for today’s Hive Power Up Day:

There’s been some talk of abandoning Hive as a reward and making it strictly a utility token. I think I may have first heard about this while in Bangkok last fall. @therealwolf and some others are proponents of the idea, @edicted and others are very much against it. FWIW, I think it’s way too early to consider such an idea. We’d need a smoothly functioning SMT/HMT ecosystem to possibly replace Hive rewards with before even contemplating such a radical change. Even then a transitional period might be well advised, during which both types of tokens could be paid out, allowing for arbitrage experiments. If it ain’t fixed, don’t break it.

DeFi is all the rage and with yesterday’s announcement about wLEO, I really need to wrap my head around wrapping tokens and providing liquidity. As it happens I’m something like the 57th largest hodler of LEO so I’d be able to power down at least some of it to help provide liquidity and earn a return. Lots I’d have to learn before that though. And @taskmaster4450 has an argument for why not powering down one’s LEO stake could be beneficial. So many variables, so many possibilities.

Posted Using LeoFinance