Hive has got off to a bit of a flyer so far, hasn't it? While it is early days, a lot of people believed that a fork would struggle, yet so far it is running more smoothly than expected and I am hoping that there will be continued development that makes it easier to engage on the platform, a key component for the future of the social side of the platform.
There is more to Hive than the social side though and I am glad that there were a couple of immediate listings secured. I have been trading a fraction at Ionomy so as to give at least some volume there, but only a fraction, as I am looking to increase my stake here early. I used to really worry about taking anything off platform, but at this early stage, I think there also needs to be more trading happening and, I hope the smaller accounts are looking to increase their stake as early as they can, if they want to go long.
In some ways, the pandemic sweeping the globe is an opportunity to spend some time developing and engaging on Hive, as well as potentially saving some additional income as a lot of people are forced to cut back on extras like takeaway food and toilet paper. Some may see this as an investment opportunity that doesn't arrive often in the space of a lifetime, many will of course not invest at all - because most don't.
It is okay not to invest and okay not to work, but there are consequences for behavior and while it might seem more fun to YOLO and spend now or scrape by on an income of grants, the older one gets, the less fun and harder that becomes. I am kicking myself for not putting effort into not only learning about the economy, but actually investing into my future. It is strange to be 40+ and still having to think about a lack of money for essentials.
But, it is okay to be a late bloomer also, as long as it isn't so late that there is nothing that can be done. I don't think I am too late yet, but it is going to be cutting it pretty close - 25 years isn't that far away, considering how fast the last 25 went.
A lot of young people feel that they can change the world, but the sad fact of it is, one has to have a lot of support in order to do so and in general, that is going to come from old people who invested early and under good enough conditions that they have the capability to put money in. One of the problems with the young these days is that they are looking to get out faster than the length it takes for an investment to mature, so instead, they never invest.
I was once told by an early 20-something that youth are only in it for the immediate return, the feeling in the now. I understand this well enough, but that feeling isn't going to be great when two decades later, one has to scrimp and scrape in order to get basics - let alone splurge. Yet people do splurge, on credit.
I remember when if you wanted something that was outside of the immediate means, lay-buy was the only way to get it, where the item was put aside and you had to pay a little off each week until it was paid out before getting it. This is actually a good thing as making an impulse decision was immediately rewarded with the dopamine hit of having something new, so it made a person think if it was really worth waiting for.
These days, we don't have to wait for anything, as everything is on demand and the speed of delivery for just about all facets of life is near instant for so many of us. There is always availability, there is always a credit option. I think that one of the reasons some people are so frustrated by the conditions created by Covid-19, is that we are so impatient and haven't had to do without for so many things.
With everything on demand and always a shop open, there has been no reason to store anything, no need to think too far ahead about what to eat next week. Even hard drive space in computers that was getting increasingly large has stopped growing, as many programs are cloud based and no one need download torrent movies anymore, as people use Netflix and chill instead. Pretty much, most of the hard drive space these days is used for photos, predominantly selfies - and even they are backed up to a cloud storage.
Impatience is an investment strategy killer and because there are so many suffering from it, those who do posses some modicum of patience have additional benefits as there are fewer in the game - a war of attrition where the resource is attention and many have theirs drawn away much too early to benefit.
I have been in crypto for a little over three years only, but I am in a better position now for having taken part, as I have invested myself into learning, earning and developing my portfolio. It isn't a great amount, but it is more than I would have had if I had spent the time trying to save on my income alone.
What do you think the average is among users, are people better or worse off for having spent their time in crypto, what percentage have improved, degraded or kept their life static by being in the cryptosphere? For those who feel that their life is not better for being part of all this, why stay?
Hive is another opportunity for many people to invest themselves financially, but also learn about and potentially create an employable skillset in an up and coming industry. A flying start ahead of the masses in more ways than one. There are many ways to approach investment here, but it takes time and not everyone will spend what they have.
Taraz
[ Gen1: Hive ]
Gah how cute is she why doesn't she understand how much pain that much cuteness causes XD
I remember being young (a hundred million years ago) and not having any money anyway, but listening to other young'uns (around my age at the time give or take, some with parents who were fairly wealthy) talking about the economy like they knew everything there was to know about it (they sounded like they knew so much more than me at the time, perhaps they did or perhaps they were just saying things to sound cool) and some of them were claiming investing was a waste of time because it was "dead money" (kinda like rent?) and pointless because you were just sending money somewhere and not able to spend it so what was the point? Saving money was a better option because you could then spend it (the spending was the most critical part apparently).
And because at that age (late teens to early 20s) you know absolutely everything there is to know about absolutely everything, the mouldy oldies are literally from a different world and are mired in the past so can't possibly know anything worthwhile about here and now, so it never actually occurred to me to ask my parents about this kind of thing (they had mining shares and probably shares in other things, I haven't actually asked for the details of their investment portfolios, I just know they exist). But I didn't and didn't do anything about it and to this day I still don't actually really understand how any of that kind of thing works (but at least I found a reason for that now and it's not actually because I'm dumb XD).
Now...I'm just trying to figure out if I should cash out the kids' steem so they can see that stuff can be done with investments or if I just quietly roll it into hive and hope for the best XD
And I can't actually answer your question. Better or worse from a financial perspective? I don't know? For some probably better because they would have found a lot of new friends that they might otherwise have never met, perhaps worse if they got caught up in dramas. And maybe staying because they feel like if they leave then the other side has "won"? Or because they didn't get whatever it was they wanted out of it they want to destroy it so no one else can enjoy it because how dare others get to enjoy something they couldn't? XD
She does and tries to use it to stop us from working at home.
I think you have defined the issue here - perhaps too. Saving doesn't compound well. The second issue is that the best way to save money is to make more money, something that generally requires more work. Once there is enough holdings in an investment, it starts to save for itself.
I am aiming to roll due age. However, one challenge I see is that it is kind of like Pringles, once you pop an investment, it is hard to stop :D
Guess she's still a bit young to understand working from home. If your jobs don't have time specific things, is it possible to work in shifts? Assuming you haven't already tried this XD
I'll take your word on the investment thing, I struggle with numbers in general (never mind money x_x) at the best of times.
I know that's the Pringles slogan but I'm not smart enough to understand what you meant here XD
Unfortunately we are both generally time specific, due to having to deal with other businesses. I can do some work in the evenings, which I do, but it is limited.
Let's say you have a savings account since a kid and it has $1000 in it. You have worked to save and made it a habit, but haven't spent any. Once you start using it, it becomes easier to use it next time. It makes it an available resource instead of a saving.
Another analogy might be the "fatal piss" when drinking - once you break the seal ;D
Ahh I think I understand now XD
it was the fatal piss reference, wasn't it? :D
No actually because I can't say I'm familiar with that experience XD
It did get off to the good start but I am now seeing more content on STEEM than HIVE. The quality of it is much more contestable than previously!
I have a feeling that this will transition back to hive once the active stake is powered down.
Do you see what I see?
Did they own the electronics store before it was commandeered? :D
I see this with younger Splinterlands players. Many have sold all their cards, then bought back in, sometimes a couple of times over.
They lose all that value in friction and most of the advantages of being early adopters.
Don't get me wrong. I don't mind buying rare, old cards from them; but they're not doing themselves any favours.
This is the problem - it happens in the entire economy as people without sell to those with. They will learn the true cost one day.
Man you bring up some really interesting points. The part about hard drives really hit me. I'm a photographer so at any given time I've got around a dozen or so terabytes scattered around our place. But it's crazy to think that even photo storage is becoming cloud based. I've been into crypto for just under four years, and it all started with Steemit. I've only ever invested about 200 canadian dollars, all the rest I earned from a bit of trading, a few good buy tips, and posting on Steemit and now Hive. I don't regret my investment of time in this place, even my pretty small portfolio plus my steem (soon to be liquidated) and Hive holdings are a treasure to me.
I have a fair bit around too - it worries me :)
I get the sense that most of those who earned their Steem/Hive treasure it. Also, those who bought some treasure it more. Personally, I have put a fair amount of money (for me) into the investment, a massive amount of time and I am grateful for any return I get. I am yet to use any of it in real life though yet.
Back in the day I was able to earn a decent amount of SBD from posting and I used it to buy some BTC and ETH on exchanges. I still have that little hoard and use it for a bit of trading here and there. Never regret it. I've never used my Steem for anything real life other than that though. One day maybe!
I agree with @mattclarke that splinterLands cards are a good crypto investment, you will see a lot of maxed cards selling at low price.
I wonder how long it will be before they want to buy back
It's easy to see how much that cure little thing takes after her uncle...Just saying it how it is.
That last photo...That's mums eyes right there. Scary really.
Anyway, give the
monkeybee a hug from the G-dog.It is scary :)
Excellent article! I have 5-7 weeks more at home, and so I am going to build on up here!
Definitely give it a go and there are worse ways to spend being locked up inside :)
Have you compared the birth and growth of Hive to your daughter? Frequently, I thought that the white people's eyes were blue and green, but it was amazing to see gray eyes.
Not really.
Her eyes are quite blue, but the flash washed them out in these. It is a surprise her eyes aren't brown as the genetic chance of the blue was very slim.
East Asian men like me thought that blue and green eyes in white people were common, but brown eyes in general? It's really fun.
Brown eyes are dominant and my eyes are very dark.
I am more grateful than ever to have a Hive in my back pocket. What else are you going to do for 3 weeks. This is like having a huge opportunity handed to you as time is not an issue. Now is the time to do more and grow as much as possible. How many other people are sitting at home and going backwards financially.
I hope they are at least learning something :)
I think people are worse, for the most part because there were many misgivings from the get-go. I, for one, am in the population of people who paid a price for the underestimation of its great potential. I think now, though my enthusiasm is invigorated, my approach is much more calculated and deliberate. Negligence may lead to your demise, and I think people are just starting to appreciate this.
This is the case for most. I know you are young and you have time to do a lot in life - take the time.
Hive tweeted this out 🐝