As some of you will know I am still relatively new to the Hive community, now celebrating my third month on this wonderful platform. However, what some of you will also know is that I have often found it difficult to reward people through voting as my stake is so low.
When I first arrived I realised that if I were to grow my stake in any meaningful capacity I would have to go to the open market, buy Hive and power it up. I also invested in 1000 Legion tokens which gave me some vote support so at least I could guarantee my efforts would receive something instead of posts sat there at $0.05!
So over the past three months I have made various Hive purchases and in a bid to grow my stake I have delegated most of my HP. I want to get my stake to a position where I can give out meaningful votes instead of giving out dust. This approach has been fully accepted by many as a legitimate means to build here in Hive but others have advised against it. I nearly decided to significantly reduce my delegations but ultimately I decided to keep with my approach and kept my delegations in place.
This approach helps me to build my stake but it means I have very little power behind my vote and can not reward people in the way I want. This has been a constant irritation for me.
I recently enlisted the help of the @commentrewarder service so I could at least give some type of meaningful tip to people who leave comments on my posts. However, I have now decided to abandon that service, not that it hasn't helped, and instead I have come up with another plan to reward while still retaining my delegations to help continue building my stake.
Therefore, going forward I have decided to allocate 5-10% of all my post payouts to a special tip fund which I will then use to tip peoples' posts and comments and give them a proper 'vote', although it will be in the form of a tip.
To do this I will have to reset my payout ratio to 50/50 again as I will need some liquid to give out Hive tips.
I feel this is a fairer way of rewarding peoples' posts and engagement through comments. It would be great if there was some mechanism within the wallet to allocate the 5-10% into some kind of tip or savings jar, that would be a neat way of separating the funds. At the moment the closest we have for that kind of purpose is the beneficiary system which won't work in this case.
I have received some incredible organic support on my posts from all sorts of people in this awesome community and I hate the fact that I can't reciprocate, well now I can.
So each week I will simply go back over my posts, look at what they paid out, reduce it by 50% and then from that figure I will deduct 5-10% to get my tip fund figure.
Hopefully you guys can see why I have decided to do this, after all you will be the ultimate beneficiaries of this new approach! I think it is an effective solution for people who have little stake, especially noobies, but still want to give out decent rewards while building their stake.
Enjoy!
Peace!
Greetings @peaceandmoney ,
Interesting development....if anyone here at Hive is going to figure out this conundrum it would be you...You certainly have given it a think.
Here's hoping your plan works. A Savings Jar....is such a good idea....especially if it paid some sort of interest....who would not want a Savings jar...hehe
Kind Regards,
Bleujay
Ha ha! It has indeed been a long standing conundrum. And one that I have hopefully resolved for now.
Yes, I think a savings jar function within the wallet is a good idea. You could set aside funds for certain purposes or for certain people that you didn't want to mix up in your general funds balance.
In terms of paying interest that's usually only reserved for funds that are staked in some capacity but I would want immediate access to the savings jar so I can pay the tips out. I have no problem shifting funds from the jar to my main liquid balance in the wallet but I need that instant access feature.
We already have the savings part of the wallet of course, but interest is only paid on the HBD balance not the Hive balance. It would be wonderful with the addition of a new savings jar with instant access which could pay a small rate of interest.