I’ve read quite a few good posts by people setting their Hive goals for 2022. Many have ambitious targets for where they want to be in terms of Hive Power, as well as other tokens including Leo Power and Splinterlands Shards, by the end of the year.
Myself, I usually prefer to make strategies rather than goals. A goal for the year is not specific enough about what you’ll want to be doing in there here and now. Sure, a goal of building up more Hive Power could mean making certain purchases of HIVE every month, aiming to write a set number of quality articles, etc. But I think it’s always more powerful to define the concrete action you’ll be doing each day, or how you will attack certain opportunities, to get there.
Post at least twice per week
I took a decent break last year to recharge. It worked wonders! This year, however, I feel like I should have no problem writing at least 2 posts per week (perhaps with an exception for the summer holidays). Planning for this, I can spend some time thinking about what topic I would like to cover, and perhaps do a bit of writing even if I don’t intend to publish the post that same day. Looking at how I’m now at day #10 for the #januarystreak, I think this should be fairly easy.
Powering Up
I intend to Power Up at least 1000 new liquid tokens per month. This is not a large amount, but good enough to see decent growth over time. I will also keep 100% of new curation rewards, staked-author rewards, etc staked without adding another power down except in the case of an unlikely high price spike (read HIVE at $20, in which case, I could do 2 power-downs but not more).
HBD
I wrote a post last year when HIVE was at its ATH about whether or not it was a good time to start Saving HBD from post rewards. I think time has shown that it was indeed a good time, with prices now having fallen to the point where I could get more than twice as much HP from buying HIVE on the internal market and staking it now versus doing it then.
As I think it’s primarily the price of HIVE that will dictate what the best option for HBDs are, I’ve set a few ranges for what to do with the HBD based on different HIVE prices:
$1 HIVE + : Move all HBD from post rewards to HBD Savings account to earn interest
$0.5-$1 HIVE: Move 50% of the HBD from post rewards to Savings, and use the other 50% to immediately buy HIVE off the internal market and Power it Up.
Sub $0.5 HIVE: Buy HIVE with 100% of liquid rewards and power up as well as withdraw HBD from Savings and start buying HIVE off the internal market.
The logic is quite simple. At a HIVE price above $1, we get a decent amount of liquid HBD. Saving it in the Savings account provides a quite respectable annual return with fairly low risk in crypto-terms. It also is a hedge against a stronger correction, in which case one will have more stable coins to buy the dip with. For HIVE below $1, I start to feel that the upside on HIVE is greater than its downside and that I thus want to buy more HIVE instead. After all, those who kept on posting consistently while HIVE was at $0,11-0,20 and always bought HIVE with their liquid rewards and powered up made just as much from their posts as people doing the same thing today, despite the large differences in the value of HIVE and displayed post rewards. Finally, should HIVE drop lower than that, then that’s part of the reason to have some HBD Saved, to begin with: It’s a good buying opportunity, and means you can get a quite nice amount of HIVE from your past rewards!
Conclusion
So to conclude, I’m a big fan of “simple rules”, especially when it comes to money. We can think and analyze ourselves to death sometimes in the hope that it will improve our decision-making. However, statistics show time and time again that sticking to simple rules, made from past data analysis rather than the present, provides better results while demanding a fraction of the time and stress. So I know that if I apply these simple rules, I will end this year with a lot more HIVE and/or HBD than I have at the beginning.
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Makes sense to me, but hopefully we won't see Hive below $1!
The savings are attractive.
How about the SWAP.HBD -BUSD pool - just < 20% return on that.
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Indeed it would be nice to not see HIVE below $1 again ^^, most of my bets are placed on that scenario too. The fine thing about HBD saving is that it benefits in both scenarios: HIVE goes up -> Earn more HBD. HIVE goes down -> Buy more HIVE with the HBD than what you could do before :).
I haven't looked at the SWAP.HBD - BUSD, is it on Binance? I must admit I have not even touched anything BNB-related ever. Perhaps I should...
For now, I prefer to hold as much in my own Hive wallet, and see as few tokens earned from posting leave it as possible for 2022.
It's on Hive-Engine, one of the Diesel pools...
https://beeswap.dcity.io/swap?pools
Good plan! Nice to read more from you again.
The plan with the HBD is neat. What do you when HBD is having spikes in the price? Like 10%-20% out of the peg.
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Good to see you around here as well :) Been a long time since Krakow ;).
Indeed having simple and clear-cut rules are nice. Both for performance, but more so to save time and energy. If HBD goes way up in price above $1, then I would obviously want to withdraw whatever I have in the savings and sell them with the hope of buying it back again at $1. But let's see, with the new balancing mechanic of reverse conversions, we may not see such spikes again..
I never really know what to do with HBD. Your rules a clear simple and logic. Something I’ll stick to too! What I take from your post, is to have confidence in Hive as a platform! Very comforting during these past days in crypto-land :-)
Send it to me ☺️
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Ha sure I will send you all me "free" HBD right away:
;-)
Hehehe 😝
There's no right answer. When I first started out here in summer 2017, I was determined to buy and power up as much as I could until I reached 10,000 staked tokens. I think when one is fairly new, the best bet is to focus on account growth and to build more positive relationships with other users so as to increase one's own post rewards, and also just find enjoyment in writing so as to sustain the effort.
Having a clear idea is comforting and just growing hive daily is always my plan. Hive at $20 would see me doing a few power downs but not necessarily out of the eco system. 20 HBD per Hive is too tempting and would try and aim for a big number generating a decent return monthly.
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Haha! We can all have some wet dreams about what we would do at $20 HIVE ;) .
I'm just in a place right now where I have no real need to sell, and would only do so if the price went up so fast that it felt too good to be true.
That sounds like a good strategy (and yes, I prefer strategy over plans as well)!
I think that - depending on your other circumstances - posting twice a week, can be manageable. And it can really help to grow your HP by a lot. It is still not too high in which case, it can be too hard to be achieved. Wish you good luck with your plans!
Also the strategy about powering up and keep HBD to savings sounds great. Will give it a try!
Keep up the good work!
Cheers,
@andy-plays
!gif great
Via Tenor
Thanks for your comment :). In the end, it's the small things we do every day that are the big things in the long run!
That’s a great read.
I might join the the 2 post per week, I feel is healthy and gives room for other offline activities.
Thanks! Glad you liked it! :)
2 per week is nice. I have accepted a challenge to do one post per day now in january. But I already feel that it is a bit taxing on my mental energy.
Yes definitely it drains on a daily.
Good luck on your challenge.
If the simple rules work well and using facts that have already occurred we can have an idea of how the crypto market would behave. We must all set goals for this new year 2022 by being attentive to the price of both #Hive and #HBD we will know the perfect time to buy or sell if the case.
Nice plan. I’m also saving some HBD towards opening a big position should Hive ever touch $0.5
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I like these strategies, especially the one around the price ranges and what to do with the HBD... best of luck growing your account in 2022.
I like your "triple-step option" for what to do with the HIVE/HBD rewards of the psots. I have thought quite a bit about what to do with my post rewards too.
I was wondering instead whether I should first grow my savings account to a decent level, and then re-invest the interests by buying HIVE (or try other coins, to diversify a bit more). This strategy however may take some time as the growth of the savings account is not fast enough to my taste (according to the goal I have setup to myself).
I will think more about your proposal. We will see.
Yesterday I watched a video about what you just wrote: Is better to focus on the strategy rather than the goal. I think I'm gonna stick to that too.
Thx so much!!