In case you missed it, this past weekend was another Hive Power Up Day. Unfortunately, when those events happen on the weekend I often miss them because I try to take a break from the blockchain on weekends.
I didn't feel too badly about this one because just last week I powered up a pretty significant amount of Hive into my account. Any chance to power up your account is a good one whether it falls on the first of the month or not. @cryptoandcoffee just wrote a really good post about that the other day.
One of the things I like about Hive Power Up Day is the feeling you get when you move a fat stack of Hive into HP. If it is significant enough it can also have a significant impact on your vote value which is also a good thing for the platform.
I have been fortunate enough to never be in the position where I need to power down my Hive. In fact I would say 95% of my post rewards have all been powered up into my account. There has been the occasional Hive Slots session where I lost a little or the couple of times I have bought card packs for Rising Star or Splinterlands.
I think that growing your account is one of the single greatest ways you an ensure that this platform is successful.
This is the point where I feel I need to add that italicized foot-note. Okay, probably more than a foot-note, this is going to be my mild lamenting on the state of the chain right now.
Although the recent hard for was one of the smoothest ones I have experienced in my (almost) three years on Steem/Hive, it seems to have had a more lasting impact than some of the past ones.
Despite the fact that there were no changes to rewards or the curation structure, engagement, as well as posts in general have taken a huge downturn. In addition to that, the thing that has been front and center and concerning most people is the price of the token.
Many times we have heard people talk about Steem and how they remember when the price was down to $.08. With all of the development, dapps, and content available on Hive, I never would have guessed we would be anywhere close to that number. Yet here we sit at $.11.
Those of us who understand what this is all about know that is a gross undervaluation of Hive. How do we get the rest of the world to realize that? I have been doing my best to start promoting my posts on Twitter. I know a lot of other people have as well. Here are the problems with that? Are the majority of people you follow and that follow you on Twitter into crypto? If they are, then they likely already know about Hive, so what is the point.
Likewise, are you only using tags that relate to crypto? Once again, the people who follow those tags likely already know about Hive. That is why I have been trying to include at least one tag that might ping on someone's radar who isn't as familiar with Blockchain.
If you are promoting your content on Twitter, take the time to be mindful about what subcultures or groups your post might appeal to and be sure to include one of those tags. Who knows, maybe you will generate some interest. Then you can direct them to one of the great tools for onboarding people to Hive. Remember, you can also claim account tokens with your Resource Credits, so be sure you are doing that at least once a week. I have about 45 account tokens saved up in case someone ever needs one.
Plus, since I have been powering up pretty much all of my post rewards, my account is big enough that I could give them a nice delegation to get them jump started when they do join.
There are so many awesome things happening on Hive. As I sit and watch price not move in the direction I would like, it is important to focus on those positives and remember that one day soon it will all have been worth it.
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That's great that you keep powering up, I diversified a bit and it's paying off in these hard times on the hive price.
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Yes, the price of Hive has not been too friendly lately. It is sad because the potential is absolutely there.
Good recommendations, and of it really seems like a good initiative we all should follow but I think it will be very difficult when people from countries in crisis you need each coin to cover your basic needs, the impossible s do what In my case I have had to do PD and with a lot of pain in my soul I had to do it, I know what it means but for some it is the difference between having money to eat, or dying.I think it's a must consider.
Good thoughts, I congratulate you.
Thank you! I think there needs to be a balance. Even a 20%/80% split between powering up and taking rewards will be a benefit in the long run. The larger you grow your account the larger rewards you get from curation etc.
Damn... I missed it! ;(
I did too for quite a few months in a row. The good thing is it comes back around the first of every month!