Thinking About HBD
There have been a number of posts about HBD lately, most recently from @revisesociology. I've also been thinking about the stable coins. I want to explore some of my thoughts on it here today.
The Rise and Fall of My HBD
Last year I was able to save 1800 HBD. Looking back, I'm actually unsure how long it took me to do that. I didn't use any outside investment, it was just stacking what my posts made. My posts don't make as much as some of yours do, so it might have taken me the entire year to save that, or maybe even longer. Hmm... I didn't track things as well as I might have.
At any rate, I was at 1800 HBD. I like that number because at the current 20%, 1800 HBD means roughly 1 HBD per day in interest. That's a great milestone!
But then in the last month of 2022, HIVE fell to just $0.25. I debated a while if I wanted to take advantage of that dip but eventually decided to go all in and I withdrew all 1800 HBD, bought HIVE, and powered up.
At the time I didn't regret it and I still don't. I think if we are active on the blockchain, posting daily like I do, curating daily, and being involved in projects, then holding HIVE has a bigger advantage than holding HBD, even considering that sweet 20%.
That said, there is some advantage to holding a stable coin.
Advantage to Holding
I believe in HIVE as much as any of you. I wouldn't still be here after six years, spending time writing posts and being involved, if I didn't. I believe HIVE will eventually gain traction and go up well past $1. When that happens, my investment here will look very smart.
At the same time, my crypto holdings are very unbalanced in the direction of BTC and HIVE. I've started thinking it might be the safer move to start stacking a little HBD to balance my holdings a little.
So I'm starting small. I am going to save 5 HBD per week. That comes out to 0.71 per day. Not a huge amount to save, as my focus is still going to be on powering-up HP, but a little to keep back.
I even made a nice table to track my daily deposit in the saving account.
What do you think? Are you stacking HBD? What do you think about the coin?
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David LaSpina is an American photographer and translator lost in Japan, trying to capture the beauty of this country one photo at a time and searching for the perfect haiku. |
If you look at my account, you will see that I went pretty heavy on HBD at the expense of growing my account. I would probably be close to 100k HP right now if I didn't have so much HBD in savings. I'm at the point where I make about 125 HBD per month right now, which is kind of cool. The hard part for me is going to be powering down Hive and moving it into HBD if Hive goes to $2 or $3 again. Even though it makes sense, powering down is a mental thing for me. There is just a part of me that screams noooooo!
Wow, you really did go in big. As we talked about over DM, I've considered investing a portion of my savings into HBD so I could get that, but I'm just too uncertain about getting that money out when/if I need it, so I haven't pulled the trigger on that yet. But 125 in interest a month is nice! If you can just reinvest that every month, it will grow very nicely over the years.
I hear you. It would be really mentally challenging for me to power down as well. That said, next time Hive goes past $2, I absolutely will start a power-down, with the aim of moving some of it to HBD. That's not abandoning Hive, that is just being smart about our investments and securing gains. But yeah, it will be tough to hit that power-down button.
Like you I don't even remember how I got to that point. I know I moved some into HBD via outside sources, but I think a lot of it was just from post rewards and compounding what was already in there. Liquidity is for sure a big concern. Especially for us here in the US. Bittrex isn't an option like it once was. You are right about the money saying in the same ecosystem. I started saving when the interest rate bumped up to 10% or whatever. My first goal was 1 HBD per day, then I moved to 100 HBD per cycle. Now I am gunning for 200 HBD per cycle, but I am doing that solely through compounding. Post rewards go towards HP. HBD rewards get rolled back in.
That's awesome. Hope you can get there! You're doing a great job. I'm still turning over the idea of moving a little bit of my savings to HBD. Hmm..
One of my fellow foreigners in Japan, @hirohurl, has an interesting plan for his HBD saving. See here: https://peakd.com/hive-167922/@hirohurl/the-first-1-a-new-notch-in-the-freedom-ladder-to-120000-hbd. That might give you some ideas on your own HBD saving goals.
Very interesting! Sounds like I am just past the critical point. I don't move my post rewards in though.
I haven't paid anything much attention but I did swap half my HBD for Hive when it dipped. I did it on the advice of @vincentnijman so if that was the wrong decision he's a bad raptor and I'll give him a bad rap (he will like that pun).
I don't know, I honestly have no time to work it all out, but I'm with you, it's gonna go up to a dollar so if when it does, that'll be a good move we did.
I'd say it was a good move! Yeah, I don't think and plan it out too much, so this new idea to hold back 5 HBD per week might be a bad one, no sure. But I'll try it for awhile and see how it goes.
Nice wordplay! :<)
And great strategy.
I definitely expect Hive to go up a lot, in the next year ( or two )
Cheers for the reminder ;<)
As we head into the coming bull, the Hive 10x potential is very real. I’m all in with staked Hive. I like HBD, but love Hive.
That's mostly my attitude. It's been 100% HIVE for me this past year. I am only going to hold back 5 HBD per week in the interest of having at least a small stable chunk, but mostly it will still be HIVE only.
I would totally agree on a balanced approach in getting your holding to a level where you are able to move out and have a decent stake in the platform.
I don't have as strategy other than s balanced approach.
Also I've slowly moved small amounts from my savings into hive as a whole Parisien approach.
I've been considering doing that, moving some of my savings into HBD. I have enough trust in Hive to think it won't collapse, so that isn't my issue in not having done it yet; my only concern, rather, is how easily I can then access the funds if I need them. As it is now, yen from my savings account to HBD is already a few hops (introducing the chance of loss to fees and sudden market swings) and a few hours. That worries me enough that I haven't pulled the trigger yet.
I think with everything to do with either savings and or investments we all must remember the chance of losing something, the main thing is the lesson learned along the way.
I mean technically no action is action but it also means when there is an upward swing you loose out on the reward. The whole risk/reward argument isn't it.
Another thought is, only invest what you are prepared to lose.
LOL this is financial advise.
Good financial advise 😃
Having good amount of HBD is great although this will always be a debate whether we should go more on HIVE or HBD.
I think you have done great, I always go with 100% Power Up rewards for my post when HIVE drop below 0,3. The same goes for my ETH-based P2E games, I convert my earning in USDT to HIVE then powering up or buying some ShitToken in Hive Engine when the price low.
And yeah, I feel like Powering Down is like giving up something, although I know that's wrong because our judgement should be based on rational decision making, not some feeling and affection.
I used to go with the 100% power-up much more often, but nowadays I use about a quarter of my post rewards to fund these giveaways I do both on my account and on Blockchain Poets.
I think it doesn't make sense to stack HBD in the current phase of the cycle. Buying BTC and Hive at current prices is a no brainer. Moreover, similar to Bozz, I am wondering about rebalancing some HP to HBD once Hive is over $1.
That has been my thought for the past year, that keeping everything in HIVE as long as it's below $1 is the better move, and then moving to HBD to secure profits after HIVE passes $1 would be the proper strategy. I still think that. I guess I'm just starting to get a little worried that I hold nothing stable right now and I probably should.
The bull year should last some time, so hopefully there will be plenty of time to catch Hive >$1. If you want higher, the window is probably much shorter.
Personally I'm hoping for at least $10 ;) About 6 years ago, when we were Steemit, the high reached around $15 I think. Allow me to dream of making it back to that insane high.
Sounds awesome, did you take any profits back then?
I hadn't been on Steemit long enough to take too much advantage, but I did a little. All my splinterlands cards come from the money I made at that time. I moved it to BTC and it sat there till I took it all out to buy into steem monsters.
I guess that isn't exactly taking profit, as the money is still in the system, but it was using profit.
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The move to buy Hive at 25c was a great one and paid off.
Reading through all the comments, folks are really diligent in managing their stake on Hive. I'm pretty useless just keep my head down to work, and hope for the best. The only thing I did was take 400 HBD last and flip it to/from Hive. Think I did ok during those months then Hive stabilized around 30ish for a long time thats why it's sitting there as liquid.
I don't even know what the withdrawal route to GBP is now😅. The regulatory environment seems to change all the time
I was having some success swinging trading between HIVE and HBD when we had those Korean pumps every few weeks for awhile there. Since that point I've just been powering up everything, minus about a quarter of my earnings to fund my giveaways for Blockchain Poets.
Yeah, same here about the withdrawal route. Moving yen from my bank account to HIVE becomes more confusing and complicated all the time. Then if I want to move dollars from my American bank account... that seems practically impossible these days.
Personnaly I prefer HP > HBD at current price of hive. I'm quite confident hive will reach $1 in the next bull run, which is in market cap terms still lower than previous tops. As hbd is a stable coin, it won't climb in price. I think the next bull market will happen in less than 4-5 years. So for me it's more valuable to hold hive power which I think will atleast 2x-3x in the coming years instead of holding hbd which gives me 20% a year.
The plan is to start to power down hive power once it reaches $1/hive and to slowly swap it than to hbd and put in in savings.
Will see though how everything goes in the future.. It will be my first bullmarket so not sure of the theory will work out in practice as well...
Great article!
Yes I agree with you, and that's why I've been stacking HP only this year so far. I agree with your plan as well. When Hive passes $1, secure some of those gains in HBD. Then later rebuy during the next bear market. It's a winning strategy.
I'm probably just antsy, feeling I'm missing out by ignoring that flashy 20%. I figure only holding back 5 HBD per week isn't going to bit into my HP increases too much, so I'm allowing myself this much.
Everyone has ofcourse his own strategy but if you believe hive will do x2 on it's current price in the next 4 years, than hive should be the better option instead of hbd.
Why 4years and not 5years? Hbd in savings has 20% apr a year and you have the cumulating effect which lets you double your value in 4years using hbd savings.
I know ofcourse that there are other elements at play as well (hbd apr coumd go down, diversification, the uncertainty if hive will reach its x2 in the coming years, etc.)
Not saying what you should do, rather trying to explain my point of view :)