On Accountability and Hope .:. MyHiveGoals 2024

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While I was checking out the post by @relf87, where he was writing about the Hive-Engine tokens that have done well in the last 3 months, I got reminded about the reasons why I am doing these #MyHiveGoals posts... Of of the main ones is the same as what I wrote in the comment on his post, accountability! I want to be accountable to myself, so if I re-check these posts a couple of years after, I can get out some useful info... To explain to me WHY I was accumulating those tokens, was my decision right in those moments, and WHAT I learned from my bad decisions...

I was checking Google Translate for the word "accountability", and it translated it as "responsibility"! How curious is that! While they are different words, they have so much in common!


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On the other side, the accountability that I try to accomplish with these posts isn't only on my side, but also reflects on the other side too, at the tokens that I'm accumulating... Some of the tokens are run by 1 person, and that person has a lot of power to make different changes to tokenomics... In my opinion, that is one of the "weak" sides of the Hive-Engine tokens as token owners can change almost all attributes of the token... To raise the supply, to mint tokens whenever they want, etc.

When you create a post with the current stats of a token, the best thing is to gather as much information as you can get... If there is no development, no work around the token and the community (if it exists), there is almost 0 chance that it can survive... Maybe you will have 2-3 crazy whales that will pick up the tokens and push the price temporarily, but in the long run, they will get tired and sell them... Also, some of the tokens have big inflation, they not just that is minted through curation and author rewards (in the case of tribe tokens), but also they can be minted manually by token owners to pay "dividends" for HivePower delegations, or token "drips"...

As someone said, "hope is not a strategy", so don't buy tokens because you hope it will go up in value... But certain tokens because you KNOW facts about them, for what they serve, how tokens are minted, how many of them WILL BE minted in a year, two, three, etc. Then you will have a portfolio based on numbers and not based on hope...


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Back to the official #MyHiveGoals numbers... This time, I'm a bit better than in the last report... The break was only 2 weeks and I will try to maintain it like this... Doing reports every week is maybe a bit too much...


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screenshot from hivestats.io

I think this is the first time this year that all my goals are colored in green! The first two mean that the monthly goal is reached, and the last one (the third) it means that the yearly goal is reached!

At the beginning of the year, my liquid HIVE "reserves" were almost empty and I had to stop with my 1K Hive power-ups... Because of that, I was a bit cautious with creating my HivePower goal for 2024 and I decided to "lock it" at 100K, which was almost 20K HivePower more than I had in those moments... The rough calculation was to raise HP on HivePUDs around 5-6K in total (during 2024), get 5-6K on curation rewards, and try to earn over 10K through author rewards...


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Speaking of accountability, or better say accounting, how wrong was I! 😃 The biggest surprise was my curation rewards, where I accumulated a lot more than expected, and of course, I converted a lot of other tokens to HIVE and RESTARTED my 1K power ups!!! That all helped out a lot with my HivePower goal and I will probably hit my yearly goal in a few days, at the next #HivePUD!

On the other side, I have to mention the biggest deception, author rewards where I didn't reach my expectations... The lack of time was the primary reason for that as many things that happened in my life recently... But, that can always change!

From the last report, which was 2 weeks ago, I have accumulated 682 HivePower! Even with not that many created posts, I could earn over 1300 HP per month! Most of that is curation rewards, and the rest is mainly from daily powerups, from HIVE earned through other projects on HIVE!


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Regarding my SWAP.HIVE:LEN shares goal, I have reached my monthly goal! Not sure if this is my first time this year, but it could be as I have been chasing this goal for a long time... As a matter of fact, in the middle of the year, I thought that I raised that bar too high... Today, it looks much better and there is a big chance that I will reach the yearly goal too!

After reaching the Rising Star yearly goal, I put this one on the break... I mean, I'm still accumulating cards by buying them from the market and opening new packs, but I don't push or chase a certain number... It would be great to hit 40K cards this year, but it's not a must, so no pressure at all...

I'm happy that I was able to reach this goal early as it gave me space to focus on the other two goals!


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These were my initial numbers and goals for 2024, created on January 7th, 2024...


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MyHiveGoals 2024 Edition - The Beginning!

Join me in this awesome #MyHiveGoals and let's grow together! It is fun, motivating, and will keep you focused!

Thank you for your time,

--ph--

PS. None of this is financial advice of any kind...


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27 comments
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Nice post!

To explain to me WHY I was accumulating those tokens

Important to have a trade journal

"hope is not a strategy"

Yea, prefer charts they dont lie

will probably hit my yearly goal in a few days, at the next #HivePUD

Well done! I will hit mine as well on hpud, let's celebrate a bit with !PIZZA and !BEER 🥂

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Important to have a trade journal

I was doing a lot of that at my first crypto days... As I was buying/trading a lot of tokens and had no idea where is what, and when I bought or when I had to sell... It was a mess...

Lately, I have kept my portfolio neat with maybe a maximum of 8-10 tokens... It's easier, it's more effective as I keep my focus on important ones (important for me, IMO 😀)

Well done! I will hit mine as well on hpud, let's celebrate a bit with !PIZZA and !BEER 🥂

Oooh... We should have a party!
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The 100k is not far away.. you should hit that quite soon ! I am amazed at your 40k NFTs in Rising Star, that's quite a number too!

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If everything goes as planned, I should get that 100K in a few days! 💪

And regarding Rising Star, I'm not at 40K... It was just a wish and maybe the next goal... 😃

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You are doing great on your goal and it's nice to hear that you are almost at 100k. Those curation returns are really paying off for you after those large powerups.

Hope is definitely not a strategy. I think people need to think about that more and choose their investments more wisely.

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Those curation returns are really paying off for you after those large powerups.

Curation rewards are so undervalued, especially when you don't see them this obviously stacking... It's the same APR for everyone, but it's hard to realize the potential when curation rewards are under 1 HIVE per day/week... But it adds up!

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You're right about some of the owners of HE token being able to change the rules of the game. But most times we know who these guys are, the fact that we choose to own their token or buy them in the first place shows just how much we actually trust them.
However, you're right, it's one downside of HE token, the heavy centralization

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Unfortunately, it is what it is... At least we have the option to play fair on the HIVE sidechain... Until we get some better solution, this could serve... But, we have to be cautious where we put our money...

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Cautious indeed, I think it's what it is. It's going to be difficult to decentralize hive engine in general

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Thanks for the mention! Yeah definitely agree that hope is not a strategy. It's not always easy to follow these projects because there's so many of them, and sometimes information is not easy to obtain. For me, I prefer to just zoom in on a few of them and know them in depth, rather than spread myself all over tens of communities.
!LUV

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For me, I prefer to just zoom in on a few of them and know them in depth, rather than spread myself all over tens of communities.

That's a good approach! While I was doing the opposite my portfolio value was constantly going down... When I focused on a couple of tokens, things went much better... ;)

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I think that's why Do Your Own Research is very important in crypto, you have to gather as enough facts as possible to make better informed investment decisions. Relying solely on hope or just winging it is a recipe for constant losses.

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Yup... Agree! DYOR and you will have a much bigger chance than hitting the ball in any direction...

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Congratulations to you on reaching your goals. I'm rooting for you onyour next goal.. I can't wait to see my HP hit 4k haha

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Thanks! ❤️

Btw, you are very close to that 4K!!! Next year you could get that Dolphin rank!!! Or maybe earlier?? 😃

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Absolutely, I agree with this: hope is not a strategy. I saw in one of your replies that you focus on 8-10 tokens/coins. Do you include in that number the ones on H-E?

Almost there with your HP yearly goal... Man, 100k! That will be a nice stake. 😎

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Do you include in that number the ones on H-E?

I do have some nice chunks of certain tokens on Hive-Engine, so I could count them too... But, I don't plan to accumulate more than I have atm...

Almost there with your HP yearly goal... Man, 100k! That will be a nice stake. 😎

Gotta catch up with others, to get into Top100 HivePower holders.. 😃

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