I am no expert when it comes to maximizing gains on Hive or anywhere else and in general, I tend to make pretty poor decisions. However, one thing I do understand is the value of compounding and there is far more to it than interest rates and yields. One of the services of my consultancy for example, is facilitating the development of skill clusters that can compound against each other and complement others to compound across the entire organization, with some of the results not being seen for years.
Sound familiar at all?
I might not make great individual decisions, but I consistently make enough good decisions that they are able to largely make up for the poor ones and over time, the results can look pretty good. Am average, but consistently average can be more "rewarding" than occasionally extraordinary and I think that people should spend some time understanding who they are, the skills they possess, the ones they could have and how they can use their potential to compound together for better results.
Learning how all of these things work work in conjunction with each other, will help identify the potential income an value streams, though because most people focus only on the short-term, direct earnings, they tend to miss the actual potential they hold.
For example on Hive, a lot of people look at the post rewards as the value proposition and as such, tend to focus their attention on a very short seven day payout window, who gets what and downvotes. They haven't realized that those things are short gains, not the long game that is actually in play. But, while the short-termers are focusing on the immediacy of their returns or lack thereof, those looking long are seeing how they can use the resources they have available now, to generate value in the future.
These are people who invest and, it isn't just in maximizing "money" gains, it is in developing value in multiple ways and across multiple streams, so that the compounding of activity can take place and inflate the value beyond what each action brings to the table as individual pieces. This is why s many people in the know talk about the importance of engagement on the platform, as it is the way relationships form and develop, as well as a network of how value can be transmitted.
This isn't necessarily in the form of votes on a post, it is about building an informational map that draws valuable content form many corners and into a hub of some sort, whether under a post or, in a social reference group of people who have each other's interests in mind. There are so many aspects to relationship building, but the people who are looking for that 7-day reward, will only go as far as what they think will get them the votes. If the votes don't come, they move on, missing the greater value down the track, which might be indirect value and is "paid" in some other form.
But, just like so many people "don't have enough to invest", many people do not have the time to understand how things actually work, which is why so many end up complaining that the system is broken, because they can't earn what they want here. But, it is like a person saying a car is broken because it doesn't get them from A to B, when they haven't actually put any fuel in it and even if they did, they don't know how to drive.
I think this year, quite a few people have discovered that their "underpaid" work wasn't unpaid at all, it is just that the value of it was delayed. Look at all of the people who were collecting near worthless cards playing Splinterlands and are now able to live off the income they et from playing, selling, staking and renting the value of those same cards. Or, people who earned little bits of Hive and consistently staked it in to earn a bit more on curation, learned about the ecosystem, helped and supported others and used some of what they earned to invest wider and are now, enjoying the bull market.
You don't hear these people complaining about the multiple income streams they have coming in. but you do hear the complaints coming from the people who failed to learn what the real value of Hive is and still today, think it is solely in the value of that payout. These people still think the value of crypto is in being able to sell it for fiat to fund their lives, but have missed that the value of crypto is being able to own and control assets that can generate income for the rest of their lives, whilst still supporting others.
This is one of the funny things with the short thinkers, they tend not to be the ones who are actually able or willing to stake in and support others, even though they expect those that do, to support them. There are stakers and there are takers, but the people who own their stake and the value it can generate soon turn their attention to more valuable courses of action and, very little content on this platform is standalone valuable as it is.
What is valuable is what can be done with the content and the activity that is generated from it, as when people act together, there is the chance of compounding processes to come into effect to inflate the value of the post. The single post might earn x amount, but when 30 people act on it, affect 60 more, who influence 100 more, the value keeps building. And, when people are able to do this consistently and build vast pools of information flow that leads to activity around them, the value generated can be quite impressive.
Just like play-to-earn economies require understanding how to play the game, earning in any environment consistently takes a similar understanding of the ruleset in motion. In a dynamic environment like Hive, that ruleset keeps shifting and there can be multiple in play at any one time, all affecting each other. This means that those who are unable to learn or adapt to change, are going to struggle, even if recently they might have been doing okay.
In any profession, earning depends on how one is able to provide skills consistently and if an industry is changing and a person does not change with it, that earning can stop very sharply. But, humans are complex creatures who can hold multiple skills and keep adding more that can complement and compound with the existing to maintain or increase value over the space of a lifetime.
A post payout today is what it is in the current market, but a year from now, it could be worth something quite different depending on how it is used and, ten years from now, something that no longer resembles even remotely the seed from which it started.
But, no matter how much a person reads and thinks they know, it cannot generate any value until it is transferred into activity. Just like you going to the gym doesn't help me lose weight, I have to take the responsibility for my own conditions and outcomes and act. Then, if I really want to improve my results, I will learn that the gym results will be assisted by a better diet, better sleeping habits and a healthier mind. Knowing that doesn't help though - it needs to be realized through activity.
Some people will get this, some people will complain.
Surround yourself with people and conditions that enable you to be your best, not your worst.
You'll learn a lot and may even earn a bit more.
Taraz
[ Gen1: Hive ]
Posted Using LeoFinance Beta
I love the investment I’ve made on hive. I spent 500$ or so back in 2018 or so, don’t remember specifically when but it was way back when things were cheap and I bought a whole bunch of Steem. I think I got 4K about. Lots has happened and changed but I saw the long term vision of the place and felt it was good to take a chance and see how things go. Passing 18k as of this last power up day was an awesome feeling! Getting 4 hive a day in curation is huge, and that’s from voting through the trail of Curangel mixed with my manual votes, not even going for maximum curation potential. I think the compounding of the hive I have now and the stuff I earn daily, plus the consistent stream of curation rewards is incredible. That was 100$ for the month of October just for voting. It’s nothing to live off but it’s more than I made in my bank account in interest!
I think that it’s also important to put in the effort and get around to peoples posts or communities. I’ve made it a point to visit someone’s post that happens to drop a comment on my post after I reply to them. I think the reciprocal nature of it is good because I know how hard the attention is to see everything you want in a day. I think it’s led to more interaction on my posts than I’ve had in the past and I enjoy it, it’s one of my best adjustments in behavior.
For much of the lows in crypto, I was in such a bad financial way, it was very hard for me to put in. I was able to do some here and there, but not consistently enough. It is funny to think that some people with a few hundred or thousand dollars, have made literally millions as it has compounded across the industry.
I know that the dream for many is to live off of Hive or crypto, which would be great, but I like the idea of having multiple streams come in from various places so that in the advent of life adversity, I am not reliant on one source of income. I don't have a lot of faith in the current economic conditions and at any time, the world can quickly descend into manipulated chaos, all for corporate profits. I want to own outside of that system.
Moving about the ecosystem is great in many regards, same as engaging with users of all sizes. I know some people who really only talk to the larger accounts or the ones who are well-known, but in my opinion, everyone should be given at least the time of day, until they prove themselves not worth being given the time for whatever reason.
Hive is only alternative blockchain which provide huge opportunity for earning whether learn through or stake the assets. I staked SPS with compund interest even HBD 10% intrest on saving is not bad since bank is not even paying 5% interest on your saving .
That's great that you are catching the staking and deposit rewards! It’s remarkable what we can do by doing what banks originally were supposed to do: reward deposits!
Yeah, it is worth putting a bit in as long-term, SPS should be useful in the ecosystem for several things, including more airdrops.
I just wrote a piece on my page about the amount of 'free' crypto I have earned over the past month. More than 100 USD at market value and that doesn't even include stake rewards or the value of assets I have purchased. Then Hive, I made about a 100 USD in steem let it sit until I realized there was a fork. Converted it to Hive and it's like 300. Not exactly a whale over here but more than what I would make posting to Facebook or something similar. And who knows, maybe an NFT I got for free can yield me a whole ETH one day, or BATs will go to some ridiculous amount in the market.
It all adds up and in time, some of those gains can end up concentrating in larger amounts in real projects, giving a much longer value proposition than selling.
Yes, they are your decisions and those are your risks. No amount of learning and reading is enough until you dip your toes and put your skin in the game. Although my hive pocket is not as big as i expected it to be in a year, I have certainly benefited from diversifying and knowing. That's huge. Who knows what will happen to my @dcity cards in a year :P
It took me almost two years to have a 10th of what I have today on Hive, but all of the little actions and activities started to add up and compound against each other to speed the process. I don't know much about DCity, but if it is mildly successful, it might be enough :)
But complaining about how it's so terribly unfair because things don't work the way I think they should (which is basically I should get everything for nothing and bugger everyone else) is infinitely easier XD
I should complain far more!
That's how you get the dramas which brings the attentions and upvotes innit :D
If the votes don't come, they move on, missing the greater value down the track, which might be indirect value and is "paid" in some other form.
If the votes don't come, they generally leave HIVE. Then, they come back when the price of HIVE increases. Those people register to HIVE thinking that there is free money to get, sharing posts like on fb, insta, twitter. When they get some payout, they power down and draw it from the ecosystem. This isn't adding any value to HIVE.
I believe that whatever quality a post or comment has, it adds some value to the blockchain, and rewards will come later somehow. We need fuel (value) to drive up HIVE.
Some people do put in the effort early, but they often run out of energy very quickly. This is a long game in many respects, and it is more like building a city than getting a job.
It is really great to really be a man of your words and also stand by it no to live by others people's decision because it sometimes backslide such people don't live your life but only you do with yhrvsimbof only you knowing the exact area that it's hot
When it comes to commenting, you would likely do better commenting on the content directly.
Great post and thanks for sharing
Did you read it?
lols
Or, people who earned little bits of Hive and consistently staked it in to earn a bit more on curation, learned about the ecosystem.
drop by drop and suddenly you have a storm.
My non Splinterlands posts rarely get to 1 dollar payouts. But that is fine. Those ,,peanuts'' add up together. A few days ago under your post I saw a similar story about the man who kept adding coins until he had gold coins. Those same peanuts have potential to become gold coins in the future.
There are a lot of different ways to earn and learn. I had a desire to help out with a new token issuance, (I don't think I have ever been on ground floor of a change of token thinking), and that desire has taught me quite a bit. I have learned the importance of liquidity for tokens on Hive-Engine, they may have a valuable number but that is on paper not in ability to trade the token(sell).
It has been a long time since I put any HIVE into the Hive-Engine platform, but I have recently sold and taken out 200 Hive for the project that I totally do not understand. It is a trust token. I trust the person from past and current social history with them so was willing to try and help even if it means a loss.
What I am learning is that, yep, I am going to hit that 10,000 HP year end goal, no doubt about it.