As some of you know each week I dedicate approximately 5-10% of my post rewards and give them out as tips to content that is of a decent calibre. I actually call these tips VIPS because they are essentially tips given in lieu of votes. The reason I employ this approach is that I am currently using a lot of my stake for delegations, in return I receive vote support, therefore I have no real vote power.
The rationale which lies behind this decision is based on a determination to build my stake. In return for my delegation I receive vote support, as well as token and Hive drips. All of these combined returns helps me to grow my stake quicker. Once I have reached the HP threshold to give out a $0.15 vote I will no longer need to use a lot of my stake for delegation purposes.
However, in the meantime I want to give rewards to people, not only to the ones who have supported me since joining Hive but I also want to reward high quality content and support the community. Therefore this is why I use 5-10% of post payouts to feed back into the tips as votes initiative.
Keeping within the blockchain sentiment of transparency, since the last VIPS Report I have given out a total of 4 Hive in VIPS. I appreciate this actually isn't too much in the grand scheme of the whole game but as you know I am in the process of building up my stake from nothing and trying to get to a position where I can give out a meaningful vote to the value of $0.15.
I do hope you can appreciate my strategy with the VIPS, it's the best way I can give out something bordering on a meaningful vote while I continue to build my stake.
Enjoy the VIPS!
Peace!
I like this approach, I have lowish Hive Power so I try to use SBI as a mechanism to reciprocate and give some value to good content.
My voting power is getting decent with some community tokens.
Thank you sir, appreciate the support. Yes, for noobies to the platform this was the most effective way I could think of to build my stake quicker but at the same time give out something bordering on meaningful rewards.
I hear lots of good things about SBI and I know it is a great help to many people, so I'm pleased you have that in place.
I see you have about 1600 Hive staked although you have been on Hive for several years now, can I ask what are you current intentions when it comes to Hive? Are you going to start increasing your blog output? Any project plans? Do you want to build here now? Or are you just stopping by every now and then?
Greetings @peaceandmoney ,
What an excellent strategy!
I do indeed appreciate the VIPS very much....thank you!
Kind Regards,
Bleujay
You're very welcome @bleujay!
Yes, as I just explained to @alohaed VIPS was the best thing I could think of to grow some stake from scratch and give out meaningful rewards at the same time.