My "Business" Approach To Hive

More Than A Blog

For many, Hive is more than a blog, it’s a way of life. A dedicated community continues to engage and produce top-quality content on a continuous basis. The mental image of a beehive is actually quite an accurate analogy. The activity on Hive very much reminds one of thousands of worker bees rallying around their hive, dedicated to the production of honey (HIVE/HBD) without rest. Bull or bear market, the worker bees push on!

I have for some time wanted to become even more active on Hive than I am currently. However, I have had quite a streak of health issues over the past year or so. This has often led to days where I have been unable to visit “The Hive”. Hopefully, 2023 is going to be a better year for me, despite a challenging start. I see tremendous potential for this ever-expanding blockchain and have no doubt that busy bees will be handsomely rewarded in time.

I have always seen Hive as a “business”, even though for me, it is still very much a growing venture. However, that does not diminish its potential, in terms of what is attainable. There are many currently enjoying significant rewards, even during these formative stages. Early adoption is always key, regardless of whether you are an investor or a dedicated community member. In an article I published in October of last year, I addressed Hive as a business.

I addressed the blessing of being able to build a business void of overheads, staffing, and rent. General overheads can really eat into the profits of any business. Being able to avoid these expenses should only serve to encourage Hivers. If you want to build your brand on Hive it is definitely going to take a lot of work. However, the rewards compound, and over time, one can create a lucrative little business.

It’s a game of consistency over time, there’s no getting away from it. If you want to succeed, that’s the path that leads to abundance. Those that have stuck it out are testimony to the “process”. So, how I have chosen to approach Hive in terms of utilizing and leveraging the monetization models that exist within the system? Well, I have chosen a rather simple approach and understand that it is very much a “long game”.

Compounding Formula

Firstly, when it comes to second-layer projects such as Leofinance, I power up all of my earnings. I use Leofinance as my default front end and am solely in a position of accumulation. I don’t realize any profits, but simply power up all of earned LEO on LPUD. I simply accumulate these tokens with no intention of selling them. Perhaps, at a later stage, I may realize a portion of my earnings every month.

However, for now, everything is staked with the intention of building some decent curation power. A fresh bull market will also contribute a lot of weight to an ever-increasing stack. When it comes to Hive, the base layer, my approach is quite simple. I keep my rewards set to 50/50 to purposefully split my earnings. The Hive that I earn is powered up and is slowly compounding my curation reward value, while the HBD is available as disposable, or additional income.

In this way, I am realizing half of my rewards, while building my account with the other half. This provides a level of profitability while simultaneously ensuring account growth. As I mentioned earlier, HE tokens are dedicated toward 100% account growth. LEO has tremendous upside, especially once the market truly begins to shift. My approach enables me to dedicate much of my earnings towards growth while simultaneously benefiting in the present.

There is also the option of accumulation outside of blogging, which is really reserved for unexpected “swan events”. Capitalizing on such events is a great way to boost your curation vote, as the number of tokens will simply increase relative to the dollar value. In time, the price recovers and ultimately serves to increase your vote.

Final Thoughts

Hive is definitely about consistency, and determination, and is very much a long game. In many ways, this is a good thing, as it serves to keep the content being produced at a certain caliber. You will generally find that where certain “attributes” are required for success, the effort is matched, ultimately creating a better experience. Here’s to 2023 and the growth of the Hive ecosystem!

Disclaimer

First of all, I am not a financial advisor. All information provided on this website is strictly my own opinion and not financial advice. I do make use of affiliate links. Purchasing or interacting with any third-party company could result in me receiving a commission. In some instances, utilizing an affiliate link can also result in a bonus or discount.

This article was first published on Sapphire Crypto.

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