Why I spent all my money on Hive and don’t feel like a fool 🔥🔥🔥

in LeoFinance3 days ago (edited)

(Obviously not any kind of financial advice)

I am not rolling in money. I live significantly below the average standard of living in Tokyo. My income is still below average in a place like Tokyo. That will all likely change in the next year or two, but if you look at my Hive wallet, you may think “WTF is a guy like that doing buying so much Hive?”. After this post I hope you can see that the decision to buy into Hive is far from foolish, even for someone like me.

I need to emphasize early on that I’m not sold on a pipe dream. I’m not sitting here waiting for my investments to save me from my life. I’m not waiting for a moon shot. I am concurrently building my own business and it has just reached a level of sustainability that I feel my basic needs are met. I’m still a ways off from luxury or indulgences or excessive travel and the like, but I can eat, I’m safe, I have an emergency plan for 6 months if anything happens. I’ll be ok even if Hive and Bitcoin crashes. In other words, I’m not investing more than I can afford to lose. I’m prepared for as much as I can be prepared for.

That being said, I’ve recently broken into the top 400 accounts at hive (#351 to be exact) and think it’d be pretty nice to break into the top 300 by the end of the year. I currently own almost as much Hive as bitcoin. While I do think that Bitcoin is a safer investment, Hive is much more than an investment to me. There is one main reason I am so overinvested in Hive.

Hive is currently at $0.16 USD. How likely do you think we will stay that low? If we can attract new users and investors, it seems EXTREMELY unlikely. That means if I want to have a substantial upvote on the platform, now is likely the last chance to build that without a much larger investment.

I bought a lot of my Hive at around $0.12 USD, near the bottom at 8 or 9 cents. At that price, 5000 Hive cost $600 USD. Now at a bit over $0.16, 5000 hive costs $800. Last month, at $0.24, 5000 Hive cost $1400.

Let’s not even imagine $1 or $5 which we reached once when we were called Steem. Let’s talk about $0.60 which to me seems like it’d be relatively easy if we could expand our user base and convince more users to become investors. Then 5000 Hive will cost $3000 USD.

I looked at those numbers and said “As it is, I probably won’t have any other opportunity to buy 10k+ Hive. I’ve been here 3 years and I love it here. I want to have a bigger voice and so putting some money into the platform seems worth it.” Then I thought “Can I afford a computer right now? I guess I could.” And then instead of buying a computer, I bought an equivalent amount of Hive. Then I did it again. It hardly feels like a bad investment given how much I’ve enjoyed my time at the platform, how many friends I’ve made, how much I’ve grown.

It was a really easy decision. Really easy. I should have done it earlier.

Once again, I don’t think I’d have invested if I wasn’t concurrently building a steady income through my freelance work, but it did not matter that I did not have so much in savings and investments. If I’m going to invest I might as well invest in something I know well and care about!

Now:

  • I can give $0.40 upvotes to help people who participate in Hive Cross Culture and if we recover the price, soon it’ll be $1 upvotes.

  • I can support friends who join the platform more and keep them here.

  • People realize how seriously I take this place and want to work with me more.

  • I don’t even pay attention to my payout anymore, I pay attention only to quality and quantity of comments and the quality of relationships I’ve made, as well as the growth of this community which I hope can be a place for fun and healing.

  • My payout is just fine and will probably get better.

  • I earn way more in curation than before and I just curate good posts from al kinds of users, not just popular people.

  • People are far more likely to respect what I do here and remember me and what projects I’m working on which makes it easier to advertise them.

  • I’m able to offer greater incentives to reward people for any work I may need done.

  • If Hive moons I’ll be a real big deal haha

This may be your last chance to become one of the top 500 most influential people at the platform with a small investment. Why wouldn’t you do it? How much did you spend on that X-box? How much do you spend on cigarettes or coffee every year? Why wouldn’t you do this? You will be able to help shape the entire ecosystem with your investment. The more us normal people invest, the more decentralized this place becomes.

Not financial advice! I don’t take any responsibility for your decision. You do what you want, but I’d love it if some really good and decent people with passion for this community kicked me out of the top 400 users by investing more than me. I’m waiting 😉

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Posted Using LeoFinance

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I bought a lot of my Hive at around $0.12 USD

That sounds like a good price. It's really hard to tell. About a month ago I didn't trust the dollar. Things change.

Even now is a good price. I personally feel like we should be at at least $0.40 right now and we will be as soon as we can get some new users who stick around. The steem drama (even before the split, with bid bots) really hurt us but we are almost at a point where we can recover

Good choice. I am also loading up more.

You are crushing it! I’ll need to find a way to catch up!

Good move! It is looking cheap!

@tipu curate

Posted using Dapplr

You buying in too? Go go go

Well I have been, although thankfully I spent hundreds of Hive on LEO over the last several months, which worked out well! I'm concentrating on DEC now. But every time i buy an engine token I always power up some Hive.

What is DEC? I can’t keep up lol. I bought a bunch of lotus. Love the community though they don’t seem that focused on the price

DEC - Dark Energy Crystals, it's the currency of Splinterlands.

I'm in a similar life situation and completely agree with you! Well explained.

I was wondering where you saw the account rankings (top 400)? I'm curious to know mine and can't find the info.

You can check Hivebuzz.me rankings. Or at the top of your profile at hive.blog it will tell you near your name

Yeah, me too, I don't use cigarettes, coffee, or xboxes, but am taking a punt on hive!

No better time!

If Hive moons I’ll be a real big deal

Replace if with when

Let’s get back to BUIDLing because we’re $HIVE owners

Posted Using LeoFinance

Hey man, I’m trying to be careful and conservative here....and spending all my money on hive! 🤣

Makes perfect sense to me, if you have the financial stability to be in it for a long-term hold. I don't think it's going to take that much to shake Hive loose from the doldrums... and with developments like @leofinance happening, things are only going to become more solid.

=^..^=

Posted Using LeoFinance

Right? Leo is a powerhouse right now. Who runs it?

I support your opinions, because of this I have buy orders at the rate of 0.155 (although this may not be the limit of the current price correction)

Wow. I don’t know if we will go that low but totally possible. And I hope we do for your sake and mine!

:) I keep my fists!

This was an awesome read. Let's see what I can cook up later this year. I actually bought 3000 Hive a couple of days ago and even sold Bitcoin for that so that tells you enough about my believe in this platform.

This is what’s nice about having ateady income, it’s much easier to play around with what you have and not think twice about it. I wish I realized how awesome freelance is earlier

I get it.

I wish I was already invested in / aware of crypto when I was working a job. Then again I probably wouldn't have found out about it as I was stuck in my depression / burnout bubble. It was only after freeing myself that I found out about this magical parallel universe ;<)

In the next year or so, you will be above 100k hp. Really a worthy goal I think.

Btw, have you tried @dcitygame. It gives some good rewards. If you are in for some gaming.😎