This post is my entry in the #FinancialGoals2021 Initiative sponsored by @theycallmedan and @leofinance. You can find more details about this initiative here.
Which is going to be your investment strategy for 2021?
My strategy will remain similar to what I have been doing for the last 3+ years. Since 2017 I have been on a very consistent path. My formula is pretty simple:
- Create content daily and post it to my blog to earn HIVE/HBD.
- Curate content from other creators and earn even more while helping them earn some as well.
- Swap any HBD to HIVE at opportune times.
- Buy Bitcoin, Ethereum, and Litecoin at a CoinFlip ATM with a few hundred dollars here and there when I can.
- Continue to hodl my EOS bags.
- Be aware of any and all air/claim drops that I am eligible to receive.
Do you have any specific assets that you want to invest in?
The main cryptocurrencies that I currently invest in are:
- HIVE
- Bitcoin
- Ethereum
- Litecoin
- EOS
- BitShares
Outside of cryptocurrency, I would like to eventually own a home instead of continuously living in the loop of the rent game. Ideally it would be a modest, but custom built home. It would be nice to be able to keep this realization within the family as well, which is a possibility since I have relatives who are full-time builders.
I do not wish to rely on a loan to pay for that home like most people do. I’m confident that I will have the capital to pay for it on my own over time. My only concern is that once I have the required funds in the form of digital currency, that I may not be able to convince builders to accept it as my form of payment right away.
Breaking away from authority figures is a goal of mine, this means no debt. It also includes ending my torture of working 40hrs/week for USPS and having to continuously pay rent to a landlord.
Upon finally ending my career with USPS, I will have access to my funds that are currently locked up there. That itself is a pretty decent amount of cash and will be nice to actually be able to have in-hand rather than tied to my retirement through work. I have zero plans of spending the rest of my life working where I have for the last 7+ years. Everyone I work with would think I’m crazy for saying this, but I know that’s not where I am meant to be forever. Sure I have spent quite a bit of time there, but it has kept me from living in poverty during my “loading phase” of stacking sats. Times have changed and there are far too many other options on how to earn enough to live comfortably.
I would much rather have all of the time I spend working a job that I’m not passionate about to instead better enhance my creative side and take better advantage of my biggest investments. This would allow me to up the quality of my daily creations even more and become an even better curator. Instead of fitting in small chunks of time to create/curate, I could focus primarily on this. There is no doubt this would allow me to earn even more through my blog. By that time, the Hive platform will be even bigger than it is now still in its infancy. It’s wild to think, it still hasn’t even been a full year since we hardforked from Steem. This place is just getting rolling.
Preferred Investment? Crypto, Real Etate, Commodities, Stocks?
Hands down I prefer cryptocurrency. This is where I first took the time to invest my money and it is where I have had my success. I’ve been able to earn most of what I have through content creation on Hive, while also buying small amounts of crypto with cash from time to time.
Recently a customer at work mentioned Bitcoin for the first time ever. Of course this led to me discussing my 3+ years of experience with it and the fact that I blog and earn crypto that way. The same customer asked me if I was a whole-coiner. They were simply asking if I own at least 1.0 BTC and no less. I didn’t answer the question, because it is none of their damn business. However I understand they did not quite realize just how private of a question that is that they asked me. That’s how fresh into this whole thing we still are. People have no idea what they are doing and are straight up asking how much money each other keeps. Some even posting screenshots of their wallets online. I think it is wise to keep a bit of anonymity as to how wealthy one is, otherwise you’re just asking to be the target of some sort of shady figures.
It feels good to know I jumped in on something fairly early rather than waiting for it to be all over the news and TV. Sure at the time when I first discovered Bitcoin and other cryptocurrencies I was mad at myself for being late to the party. Every day I understand more and more that I was nowhere near late and even today is not to late to get involved. It never will be too late, as we are pushing towards the evolution of finance. This means everything that we thought we knew about money is going to be changing. There is no way to know for sure when is or isn’t a good time to jump the ship with the fiat flag and try something new over in the land of crypto.
The best thing one can do is follow their intuition and be proud of what they believe in to be their best decision financially. For me that absolutely means being bullish on not only Bitcoin, but cryptocurrencies in general. Especially my personal favorite, HIVE. Taking the time to research something you don’t quite understand may end up dramatically changing your life for the better.
Do you have a plan or a set of goals on how to use and grow your stake?
I am going to continue to create and post daily which will allow me to grow my stake in HIVE. I am nearing 50k HP which is something I only dreamed of in the beginning. I know that all it takes is for the right people to discover what we are doing here on this futuristic blockchain and then there is no stopping HIVE from growing in parabolic ways. I just do not see how HIVE doesn’t become a top 10 token. We have so much value here and it is something I think the entire world would benefit from if we choose to participate together.
This is such an amazing place to create a community and spread financial gains between a following. A place like Patreon is trying something kind of like this, but it’s one-sided towards the creator and plus there is a middleman who takes a percentage of the income. What about the fans? Why should they not be rewarded for supporting their favorite creator? Hive solves this and keeps it decentralized while doing so.
Spreading my votes out allows me to watch other users grow in power which provides me with even more reason to continue what I’m doing. Not that I need much motivation to continue forth, I truly enjoy creating. It’s often one of my favorite parts of my day, it feels like such a healthy habit. Even without the monetary gain that is part of this place, I enjoy expressing my creativity and opinions while also engaging with other interesting people who enjoy doing the same.
It feels great knowing that I am basically donating to users all across the world just by liking their posts. Even now this process is surely changing lives, in some countries (such as Venezuela and the Philippines) HIVE already provides a powerful income. I look forward to the day where one can comfortably live in such a place as the United States just by having a solid stake in HIVE and creating/curating.
It is not wise to rely on only one source of income, but earning a share of a pool of rewards from a social blockchain like Hive will continually become more and more viable. Combine that with an ever increasing value of many other cryptocurrencies and one could easily believe that it will become normal to live exclusively off of digital wealth. Some people are already doing it, the amount of human beings living in this way will escalate each month.
HIVE and LEO price predictions
When it comes to 2021 I think it should be a no-brainer that both HIVE and LEO make it past $1. It’s looking like LEO will get their first, but I think HIVE is going to catch up and then pass LEO once the big bags find HIVE from outside of this platform. As BTC and other top 10 cryptocurrencies continue to surge, many will be looking to take profits and invest in smaller alt-coins for even bigger gains.
I am a firm believer that once HIVE gets a discovered by a few billionaires who are possibly even fresh into blockchain, this place is going to be booming. At that point HIVE will soar past LEO, although both will continue to increase. I cannot say whether it will be in 2021 or not, but I see both surpassing $10.
There will be a day when HIVE is over $100 per token and people are scrambling to even have enough money to create accounts. This is where long time users who have been hoarding account creation tokens with giant amounts of resource credits come in to save the day. This place is built to scale, has easy to remember wallet addresses, near instant transaction times, and an ever-increasing dApp library. Not to mention a community that has stuck together through the worst of times.
Those who have been here since the beginning will reap massive gains when we see a triple digit HIVE value. It will not happen overnight, but all of this time spent earning minuscule amounts of USD translate to large amounts of HIVE. If you are like me and truly believe that we have a hidden gem here, then you are already a millionaire in mentally. No matter what the numbers say at this very moment. I understand that it is difficult to break the programming of seeing everything in terms of USD, but things are changing.
Thanks for reading my blog.
I very much enjoyed writing about #FinancialGoals2021. I encourage you to do the same. Remember to check this post for full details on how to participate.
Veey nice goals, I can appreciate wanting to get free of the job! Good idea to make a business so you can write off related expenses :)
Thanks!
That does sound like a smart move and something that will be important when I no longer am working for a company.
May your plans for having your house be fulfilled Dalton, you are very smart and super consistent working on here.
Hive at $10? Bring it on baby! 😃 I will be rich.
But wait I've got more Hive to accumulate!
Posted Using LeoFinance Beta
Thanks Joe!
I look forward to the day we both can look at a digital wallet overflowing with funds.
Likewise Dalton and that day shall come!
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STOPTo support your work, I also upvoted your post!
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