If you put 1000 pesos on a peso savings account versus putting it into Hive, you get more returns from passive interest (assuming prices remain stable). But we know crypto is too volatile and Hive hasn't been doing well for a year. Who said you had to put money in? you can just earn from posting and reinvest the earnings.
There's the rise in USD value versus the Peso currency and what most folks probably miss is how much having a Hive account gets them expose to USD indirectly. The earnings here are valued at USD (even if you can convert them to peso for P2P trades) you still get things in a USD value more or less. The highlight I really want to make is how far ahead the interest rates are offered here compared to the local peso currency.
15% HBD APR interest, and then there's 12%-13% Hive APR (curation included) and valued at USD, not Philippine Peso. That's a lot of money if you think in terms of interest rates per amount of time held. So why can't most people really grasp this unfair advantage Hive users have here compared to those without Hive accounts?
Because 1% or 10% wouldn't really mean much if their budget for "investing" was only 100 Pesos or 1000 Pesos, that's like 15 Peso or 150 Peso gain BUT it's not actually that because the USD value can appreciate while Philippine peso depreciates, so you could actually get more than 15 to 150 pesos per year.
But wait, it still doesn't seem worth it because 15 or 150 peso a year doesn't really seem like life changing and it can't get you a large coffee from a shop right? this is how the difference in perspective between an investor mindset versus chasing quick gratification comes in. If bond investors can be happy with just 3% to 6% gain per year, that meant earning millions of dollars. But for us plebs, a 3-6% per year can just be a few pesos, barely life changing at all right?
I started blogging from the legacy chain early 2018, never imagined I could get even around 500 HP or stick around with the crypto fad. 6 years later or on/off shitposting and trading crypto, my account grew but not enough to compensate for the lost time spent not getting involved as active in this space as I'd hope. Can't deny I spent my own money buying into the platform to print more money but I also did the post to earn gig which compounded my gains.
While my Philippine stock portfolio is down because the market conditions just aren't right, my positions in USD, including crypto appreciated in value and that's what diversification can do. If you lose, not every bag you hold is a loser but you don't get taken out in the game compared to putting it all in and losing. I don't really mind seeing people cash out their earnings, that's great, your money your rules, I just hope you're trading that value for something even more valuable than for short term relief or financial liability.
Building your coffers takes time and the pay off may not even be that great in the beginning. You may have to resist taking out what you earned because the urge to spend on frivolous things is strong but that's part of the discipline if you're really into investing for your future. I'm not saying putting you money on Hive will make you rich, you could even lose money doing so, I'm saying you need to explore more avenues where you can build on more income streams and with a little delay in gratification, you make your future self's life a little bit easier.
If you sold your Hive a few weeks ago, the same amount of Hive would have been valued more due to the recent rally AND even more if you factor in how much the Philippine Peso depreciated. Most people stop thinking past the Hive value uptrend and miss the macroeconomic influence of USD vs PHP when converting their gains. This isn't a normal advantage you can get outside of crypto exposure here.
If you noticed the upvote value of @hivephilippines increased along with the market value of Hive, that's to be expected and there's not really a spike in delegations received lately. The Hive delegation rewards you may get have increased in value in relative to USD VS Peso. The value of the votes will just increase as Hive goes up and that's proportionate to the number of delegators contributing to that value. That value is redistributed and we got dedicated community curators like @lhes and @pinkchic for that so you know we're not playing favorites on the voting spree. We also have other volunteer curators who use the voteme channel for other people more than their own posts (high others vs self ratio)
Having a high "self" versus others ratio when curating doesn't necessarily mean you love your posts more, it just shows that according to the record for the last 30 days, you prioritize using the free votes on your account over other people. It is what it is. We've been transparent about how we operate from the monthly reports and giving as much as possible, regular updates on how we use the support given to us.
If you have any negative sentiments about Hive not riding the bull market as well as other altcoins, that's fine, that's normal after waiting for so long and nothing happens. But remember a time when the other altcoins and BTC were low and you probably didn't think of using your own money to buy into those tokens and just settled for shitposting on Hive. My unpopular take is that if one didn't even bothered buying some HBD or Hive while Hive rallied high, it's not because their faith in the platform made it possible for them to earn, they just got lucky to be persistently posting here and that's it. They weren't really investing or putting a lot of risks on their bets when the capital was earned for free. Just my unsolicited take on the negativity some people have over the platform that pays them for shitposting free.
-Adam
Thanks for your time.
"you can build on more income streams and with a little delay in gratification, you make your future self's life a little bit easier" Most people think like this bahala na si Batman which is fine it's their life. You ask them how are you? The next year, The answer will be "Heto ganoon parin walang pagbabago". People irl ask me for advice I always tell them to start small pa piso piso then hundreds, thousands eventually millions. It's never too late to start over consistency is the key. "Learn to work harder on yourself than you do on your job. If you work hard on your job you can make a living, but if you work hard on yourself you'll make a fortune" - Jim Rohn.
Congratulations !BBH
@hiveph! @day1001 likes your content! so I just sent 1 BBH to your account on behalf of @day1001. (7/20)
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