While it is not bad to think about "cashing out", because anyway Hive/leo is a way to earn through blogs, we should also invest on it to grow our stake here and give back.
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While it is not bad to think about "cashing out", because anyway Hive/leo is a way to earn through blogs, we should also invest on it to grow our stake here and give back.
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The quickest way to earn more is to not cash-out since compounding is an important factor in Hive and communities .
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That is exactly true, especially now that there are lots of dividend-earning tokens available. There are many ways to grow inside the Hive ecosystem.
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Communities are awesome in terms of growth as you earn multiple tokens for the same content.
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Absolutely. Good advice. Never cash out your principal. Stack like crazy and live off the interest, I have been doing that for years now.
Exactly , this is what many miss out .
Many ask me , oh if I keep on staking ( as well as stacking ) then what's the point ?
Well reach such a amount of holding where the interests are enough , cashout those .
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I think it's because most people can't see themselves having enough stake to live off of interest alone.
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I can live off the interest of my fiat already ... crypto is just a bonus.
That's amazing.. That is not easy to accomplish.
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Even 5% of 2 Million USD is $100,000 a year. Why ever touch the Principal ?
I suppose most people don't have 2 million USD though, but those who have are very likely to live off of the interest.
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Most people do not. Some have more.
That's life in a nutshell.
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A superb advice, but not as easy to live by. People have different reasons for cashing out but the best idea is definitely to cash out the interest.
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That is very true. I wouldn't mind people cashing out a certain percentage or something, as long as they tried to grow their stakes simultaneously.
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I think its best to always save up a part of your earnings so it grows over time. Its good to earn through blogging but its not guaranteed to get votes. Whereas with curation and dividend tokens, you are guaranteed at least a certain amount of income.
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Yes, growing our own stake in Hive should be the long-term objective. The Hive ecosystem has grown so much over the past years that it now offers more ways to earn, not just through posting but by staking and earning through curation and dividends.
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Hive will- and can change lives. It's an amazing opportunity for "regular people" to earn something for content they share, but this is not a personal ATM or cash-cow you can milk however you want or need.. You need to treat the cow good so you get milk in return.
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I do get the idea of "testing how to cash out", not to actually do it for everything you earn as that's probably not smart long term but just to see how and if it works..
For sure someone thinking about investing money would want to know the money isn't wasted/locked up in some system that will do him no good. So in that regard helping people understand how-to could potentially build more trust and have people invest and hold more comfortably.
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That's a good point. Investors wouldn't put in a bunch of cash without knowing how to operate properly on Hive though. Especially not big investors.
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True, the big investors will make sure to figure out what they're getting into. But was thinking of the individuals who are maybe skeptical of the whole thing, free-money-for-blogging is something not quite understood by many.
It's frowned upon I guess, like what's the catch? At least that's my experience when trying to explain it to outsiders. In that regard explaining the whole thing including how to take a bit of fund out might win some trust and shows the legitimacy of it all.
Before I ended up here I visited something called a beer-money-forum which covered various side hustles to make some extra income. With anything online the number 1 thing everyone there was questioning: do you have proof of payment? That's just the main thing for many to even consider something legitimate and thus worth their time.
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I think this has been a major problem for years.. And I think it's an issue due to how people are pitching Hive. I mean, this is not a place for free money. It's a place for people to earn something for their contributions, and the earnings are in crypto.
I think we have to tell people in steps:
If people wonder why "someone wants to give them free crypto" after that, I think it's wise to tell them that we have a decentralized platform that distributes tokens etc.
I think we've been pitching Hive incorrect from the start by starting off with "we are decentralized, you own your content, come here and earn!"
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There's a lot to say for Hive, but yeah pitching the free or easy money idea is not really working, I try to explain the basics of crypto and what it means for ownership (compare Splinterlands with magic or pokemon cards for example) and what the blockchain means etc.
Also not trying to push anyone, I just tell some about it and let them ask questions or see if they're interested after that instead of shoving it in their face.
Exactly. As I said, we must also grow our stake and things will add up in return.
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It sure will! :)
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I don’t think I will ever cash out. The taxes would be over a million $$$
That's a good point.. I guess that's why a lot of people are trying to avoid the tax man..
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