HPUD - Powered up 4000 Hive today

Today is a fresh start to another new month. I'm very happy to be a Hive member and I'm happy that I was able to participate in yet another Hive Power Up Day event. On the first of every month, we show our gratitude towards Hive by powering up Hive to our account. Hive is full of opportunities and in the last two months, the price of Hive is also pretty stable. We are all working hard here to create a high demand for Hive and increase the value of Hive.

In order to have good growth here on Hive, Hive power is one of the essential things. This is my third consecutive big Hive power-up. I'm glad that I had enough Hive to do some massive power-ups. I'm not sure if it would be possible for me to do similar power-ups in the coming months. But I do have a goal that still needs 20k Hive power before the end of the year. There are still 4 more months to go and it is going to be a tough one I believe. This month I was able to power up 4000 Hive power on the occasion of Hive Power up day.

I had liquidated most of my HBD from savings to purchase Hive and power it up. I bought Hive when the price was above 40 cents and since then the price has not improved so far. Hopefully, in the coming months, there should be a good movement in the price. Staying invested in Hive power gives only 50% percent of the returns compared to the 20% APR that HBD provides. Many people pick the strategy of holding their investments in the form of HBD savings. But in my case, I wanted to believe that the Hive price would improve and wanted to keep my investment as Hive power. Hopefully if the price doubles, that is when the returns would be the same as HBD in savings. Currently, the APR for Hive Power is somewhere around 10% only if the curation goes really well.

Currently, my goal is to reach 100k Hive power before the end of the year. I'm not sure if I would be having a similar goal next year or not. Having a goal always helps because it gives us a push and makes us find opportunities. With the growth of Hive as a platform, there are so many opportunities inside Hive with which people build dApps and games. It is not just a blogging platform anymore.

With the power up, I have mostly depleted the liquidity that I had on Hive. I converted most of my HBD to Hive and was holding them as liquid Hive for the last 3 months. I did not want to do a power-up in one shot because if the market pumps, I will not be able to participate and do some trading.

Looking at last month's data, it appears that I have received close to 1k HP from author rewards and around 400 HP from curation rewards. This is definitely helping me push more towards my goals but it is not going to be sufficient. I will have to increase my power by 5k every month to be able to complete the goal before the end of the year. Currently, I'm doing a power-up of 4000 HP every month and at the same time getting close to 1k HP from author and curation rewards which is making it 5k HP per month. One of the biggest motivations I see here is when the curation rewards keep increasing every month based on the power-up I do.

The above is from my secondary account @balaz which is also my witness account. I mostly do my dev updates on that account. I'm thinking of writing some dev logs on that account starting from this month. I have been contributing a lot to Hive by working on several projects but it would be nice if I can talk about it in the form of an article. Let's see if I can get some time for the same. The earnings from the witness rewards are a little stable covering the cost of the servers I pay.

On a final note, I would like to say that it is still a great opportunity to purchase Hive as long as the price is looking good. I'm thinking of using my liquid HBD to purchase some Hive in the coming weeks but I also need some funds for my other activities. Hopefully, I'm sharp enough to make use of the current market opportunity before the next bull run.

If you like what I'm doing on Hive, you can vote me as a witness with the links below.

Vote@balazas aHive Witness
Vote@kanibotas aHive Engine Witness