Personal HBD Strategy
Hi fellow Hiveians,
Today
Personal HBD Strategy
I wanted to try and formulate an interesting strategy for the next couple months at least, to try and maximize my HBD in savings while the price of Hive climbs.
I know that it's important to be able to grow things in different manners and adjusting the strategy for growing my HBD and Hive stake here is one that is ever fluctuating with me, which isn't necessarily a bad thing!
I've looked at various people here on Hive and Leo and how they've grown their respective stakes in HBD and Hive in different ways. Some are more aggressive and will throw everything into their HBD stake for a few months and slowly grow their Hive stake while others completely ignore the HBD side of it and grow Hive as well. I'm in a bit of a bind between both of them I think, in that I want to definitely grow my HBD stake but I also don't want to ignore my Hive stake!
Growing HBD is pretty attractive for sure, with the 20% APR that it's offering currently and the relatively low fluctuation that it has in price so you can bet that your HBD is in decent shape regardless of the market conditions to a small extent. There is someone here on Hive, the name escapes me, that has 600k HBD staked in their account. That's fucking INSANE LOL I don't know if I would be scared shitless to have that much HBD overall, never mind that much HBD staked in a single account! I would be so nervous of my keys if that were the case lol. I guess the good part about the HBD savings account is that it's stuck there for 3 days so if someone were to get your keys and withdraw from savings you'd know pretty quickly if things were going down and perhaps cancel the withdrawal.
Back to the point of the post though, I'm trying to come up with my own blended solution for how I want to grow both my HBD stake as well as my Hive stake here on the platform. I've come up with a few short bullets about what I think I'll be doing for the next few months until I reach what I'm thinking is about 500 HBD, if I can manage that.
I would like to get to 95 hive liquid for PUD to power up my account and some others that I've been doing, then the rest would go into HBD. I think this is a decent and manageable goal for me to be able to do, as it's not outlandish at this current stage for me to earn enough HBD to sell it and get to 95 liquid Hive. 75 of that Hive is going to be powered up to my main account here and then 10 Hive to the little man's account and 10 hive to my wife's account. That way I can grow a few accounts, albeit in small ways, over time.
What I like about this methodology that I'm trying here is that it's easily adjustable to the price fluctuation of Hive and other assets. If the price moons then I would downward adjust the Hive to 70 hive and lower as time goes on. As much as I would like to see Hive moon so that we can take some profits in some ways, I wouldn't mind if it stayed around the levels it's at now or go a little bit lower. With the upward trends of the markets right now though, there's not a likely chance that the price of Hive is going to go much lower than .40$ which isn't bad for the people on here that rely on Hive as their income! I know some of my friends on here like Daltono rely pretty heavily on their Hive income, though he's got another job which is good for him.
In the end, I of course would like to maximize my HBD this year and get as close to 1,000 as I can get but that's more than a pipe dream at this point. I know it's still early and it's only the end of February but I don't know if there's a lot of chance for me to get to 1,000 HBD in my savings account lol. I don't mind that though because although it would be nice to see those kinds of numbers, I think it's more important to grow my Hive stake in a steady fashion than it is to grow the HBD stake. With Hive, it's a long term investment that will stay staked as Hive Power but HBD will be something that can fluctuate for me, if I need to pull some out to get something I won't hesitate to. For me though the things I would be pulling the funds out for would certainly be focused on internal Hive things, not cashing out to fiat or anything. My Hive and HBD stake is strictly for this environment here and maybe purchase a little bit of Bitcoin here and there if I can swing it.
-CmplXty. Real human written content, never AI.
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Thank you I appreciate the support!
so far I mainly focusing on my hive goals, while also keep the HBD into saving every alternate day when I remember.
but a few days ago, I was having a conversation with my wife and had an idea to cheat a little bit on HBD savings which is sending the money which I was supposed to save to a traditional bank and sending them to HBD instead.
it's like not putting all eggs in the same basket kind of thinking. Not much for sure, because it is just a small spare money from this month's salary.
Yeah that's not a bad idea man! It helps to have things spread out into different avenues that way you have a bit of an insurance policy for different situations in life.
Sounds like a very good plan to grow your Hive and HBD. It seems crazy to me that there is a user with so much HBD in hive. 😅
On the other hand, thank you very much for stopping by a few times to support my posts. ✨
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Yeah I know the person with the 600k HBD is wild! That's a lot for sure and it will really test the platform with that being there and when parts of it get withdrawn for different reasons.
Thank you for stopping by! I like to try and have rough goals and estimates in mind trying to factor in the realistic nature that it can change a lot over time for various reasons.
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Sounds like a good plan, well thought out with some great focus on the future for you and your family.
Good luck, hive on!
Thank you! It's a good thing to have some different strategies I think!
I completely agree, we have a bunch of little nest eggs, @thebigsweed and I like to spread things around. We will take risks on some things; thank goodness we did with bitcoin back when it was $300 or so. 😁 But the all-in-one basket never had any appeal.
#hive is my fun account; I like to send HBD as gifts or donations. I just really enjoy the social aspect of the different communities and all the nice people I have met along the way.
You are young and I believe tucking away even just a little bit at a time will serve you well over time. Just don't rob the piggy bank when you hit a bump in the road, once you make that deposit keep it there, it's a no-withdrawal account.
If you don't mind me asking, how old is your son? How long have you been married? Where do you live? Just ignore me if I am being too personal.
Good thoughts here for sure! I like your style, and wish I got into bitcoin at those prices but I’m glad to have what I have. My best deal so far was 2 Ethereum at 400$ so I’m riding that high lol just grateful for all of the different things that we can be.
I won’t say how old my son is but he’s under 10. I’m old enough to remember quite well and fondly the time before the internet! I remember the first time we connected to the internet, it was funny to hear the dial up noise and think wtf is going on lol. My cousin had a beeper and we thought he was the coolest thing since sliced bread hahaha. Been lucky enough to be married almost 10 years! :D
We try to have different nest eggs for sure and we are looking at where to make our next move and earn what we can. My wife is a professional mom and had a great online business but that’s gotten not as profitable this past year which is sad but we were lucky that she made a good deal of money, not many tens of thousands but good compared to many which is nice!
We are fortunate and looking ahead to be prepared for whatever we can, as possible as we can be. Never easy but that’s okay, life isn’t meant to be easy!
Oh congrats on 10 years together. I also remember time before internet, totally different world now. I didn’t learn any computer skills until I was 45 y/o had no choice it was the evolution of my profession, I did diagnostic imaging and all our equipment required those new skills.
I enjoyed it though, kept me on my toes.
By the way, I have been married for 47 years, have 3 sons and a daughter plus 7 grandchildren.
Like I said, you are young.
Blessings to you and yours, nice chatting 👍
I need to dive into a strategy. I look to be curator at some point, I imagine that is a long ways away. I'm really not looking to earn for myself here.
At this stage I wouldn’t worry about it. Focus on learning the ins and outs for a few months and these things can come with time. That’s my personal opinion on it thinking of someone new.
Find out what the different things are here on hive like Leo Finance, resource credits, PeakD, Ecency, splinterlands, hive engine and others. There’s so much to the ecosystem here to learn about that would serve you better in the short term. Navigating around them is going to be more important in the short term because then you’ll have a basis for which to use for knowledge and growth.
Back when I started most of those didn’t exist so all you had to do was blog and comment lol. Now there’s so much more to the ecosystem that will be great to delve into and then expand upon later.
It’s good to be forward thinking in a sense but also, strategies are okay to have as long as they don’t end up making it feel like another job then it’s no fun and likely won’t last long.
I’ll be here to help you either way but I think getting some knowledge behind you first is a better idea that will help you in the long run.
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Definitely a good idea to stack some HBD. Also when you want to be able to take some out at time to invest in something.
With hbd you won’t have the problem that the price has gone down for a year and you feel you should wait for things to rebound and get back to some psychological level before you can take some profits.
Hbd is stable-ish but it usually only takes a couple days before it is back at its peg, so for investing or saving it is a very good instrument as you don’t have to adjust for big price swings.
I now have 1100 HBD in savings and intend to keep that there to compound for the next 16 years for my son. It will be a very nice amount of HBD by then and should help to pay for college. I will also keep putting more HBD in from the content I create.
I heard that taskmaster4450 is now unstaking his hive and Leo, in order to spread it over multiple accounts, to reduce the risk of loosing his keys. Most of it gets then delegated to the account where it came from. I think I will eventually do the same.
Yeah I also read that post recently from task and it’s a good idea. One that I’ve kind of done myself, although not to the same extent. I have spread my stake out across a few accounts but powering down and moving it to a net new account is likely what I’m going to start doing. I like the power down to account option, but I’ll have to test it to make sure I don’t screw it up hahaha.
Yeah I’ve started to stack away HBD slowly every week for my son as well on and account I created for him. I’m hoping to get to a few thousand HBD some day in it to let it grow over the years and have a nice little nest egg! I just need to make sure that I keep all of the keys to these various accounts because it gets a little more difficult to keep track of them lol.
Yeah, I use LastPass to keep track of keys, but I should probably get them on physical paper as well.