My Road to 30000 Hive Power: Hive Considerations + June Report

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Written by

libertycrypto27

I love the philosophy behind blockchains and I dream of a decentralized world.

3 years ago

Topics: Blockchain, Hive, Goals, Crypto, Blog

Cover Image: Background image is CC0 image - edit by @libertycrypto27 - Font used is Open Source

On March 5, 2019 I joined the beautiful world of Hive, a decentralized, free and uncensored world.

Today July 5, 2021 marks exactly 2 years and 4 months since I joined Hive.

Every month I like to write a report to share my goals, progress and considerations about Hive.

On June 30, 2021 there was the Hard Fork 25 which introduced some changes especially regarding the mechanism of curation of posts published on Hive.

Before the last Hard Fork, voting a post using automatic tools like hive.vote (https://hive.vote/) gave an advantage and a higher return than voting posts manually.

In fact, before, voting for a post at exactly the five minute mark allowed you to earn more money than someone who voted for the post before five minutes or after five minutes.

Now, instead, voting for a post at any minute within a twenty-four hour window of time from the publication of a post produces a fixed economic return (50%) in relation to one's voting power and there is no longer any penalty for those who vote for a post before the five minutes.

I am very happy with this change because now it is possible to evaluate a post with more calm and with less pressure: five minutes were really few to read a post and evaluate it.

I also hope that this change will lead to an increase in interaction between users and a greater consideration of the posts of new users.

The second change made by HF 25 concerns the HBD tokens that, now, only if moved to the Savings section of the wallet produce an interest of 7% per year (APR).

Before the last HF it was only possible to convert HBD tokens in HIVE while now it is possible to convert in both directions.

I like this change that should encourage the movement of HIVE and HBD tokens from the exchanges and should limit the speculation actions on HBD tokens.

However, I still prefer converting my HIVEs and HBDs into Hive Power (HP) because the weight of an account within the Hive blockchain is only given by the amount of Hive Power.

Having more Hive Power is equivalent to having:

- more voting power to reward favorite authors and at the same time earn from the voting activity (50% author and 50% curators).

- more voting power to choose Hive Witnesses

- more voting power to decide which proposals should be funded and which not

- more Resource Credits: + Resource Credits = + actions and transactions on the Hive blockchain.

It is true that HBD in the Savings section of the Wallet allow to have an APR of 7% while HP allow to have an APR of 3.33% but voting for posts allows to have a return of more than 7% and very important allows, at the same time, to support other users of Hive and support other users allows to create connections and interactions that on Hive are very important elements.

For the reasons listed above my main goal on Hive is and will always be to increase the amount of HP in my possession.

Here are all the goals that I have set on Hive and that I would like to achieve.

My goals on Hive

Main Goal: 30000 HP

Secondary goals

- Reputation Goal: 76

- Goal: Total Number of Posts: 1300

- Engagement Goal (total number of comments): 15000

- Onboarding Goal: at least 28 people.

- Followers Goal: 1000

Progress status

Start from the main goal

Main goal:

To be achieved by 31 December 2021

I like to set myself goals and I like to track my progress towards my goals and for that reason I built a table in which I divided my main goal into smaller intermediate goals of monthly duration.

As you can see from the table in the following image the intermediate goal I had to reach in June was 1970.21 HIVE (fifth column of the table).

My Wallet

On June 1, 2021 my Wallet had a value of 16208.53 HIVE (HIVE+HP+HBD).

On June 30, 2021 I took the screenshot of my Wallet at: https://peakd.com/@libertycrypto27/wallet (image below).

My Wallet contained: 16623,447 HP, 15.37 HIVE and 108,418 HBD.

Adding up all the data (HIVE+HP+HBD), the total value of my wallet was 16977,628 HIVE (June 30, 2021)

The increase in value of my wallet in HIVE (HP+HDB+HIVE) that I achieved in June was 769.09 HIVE

The result is slightly higher than the result of the previous month (May) which was +669.56 HIVE.

It is obviously slightly higher also the monthly percentage increase: +4.74% (previous month: +4.31%)

I've updated the table with the June results and, as you can see from the image below, also this month I didn't reach the intermediate monthly target I had set.

To reach a quantity of 30000 HP I have to accumulate 13022.37 HIVE and to do so by December 31, 2021 I have to accumulate an average of 2170.40 HIVE per month for the next 6 months.

Based on the current value of HIVE my account has an estimated value of $5441 (previous month: $6883).

If I divide this value by the total number of months since my enrollment I get an average monthly increment value of approximately 194.32$ (5441$ / 28 months).

Secondary Goals

In addition to my main goal, I have also set secondary goals that I still consider important.

Reputation Goal: 76

On Hive each account is associated with a numerical value located right after the username: the reputation.

Reputation is one of the many elements that differentiates Hive from other centralized and traditional platforms such as Facebook and Twitter.

In fact, in centralized blogging platforms, the type of user activity or the quality of the content published is not particularly important.

The only really important aspect for Facebook, Twitter & Co. is the user's data, and particularly important is the data that outlines the user's preferences and tastes, data that has a lot of value in the market because it can be contractually sold to external companies interested in this data.

On June 1, 2021 my reputation was 73.22.

On June 30, 2021 my reputation was 73.36.

In one month my reputation has increased by 0.14 points with a monthly percentage increase of +0.19%.

According to the site information: https://hivebuzz.me/ranking I am at position number 547 in the reputation ranking of all Hive users (last month I was at position number 565).

Goal: Total Number of Posts (1300)

On Hive I have fun and I like to write and post content.

I don't consider myself a blogger, but I simply like to write posts about my passions or thoughts or about decentralized projects I like such as the blockchain-based games I play.

Through June 30, 2021 I have published a total of 955 posts.

In the month of June I published 26 posts, 8 fewer posts than in the month of May.

In order to reach my final goal I should be able to publish another 319 posts in 6 months and therefore I should publish at least 53 posts every month (precisely 53.16).

Engagement goal (total number of comments): 15000

Among my secondary goals, the total number of comments is the one I care most about because it is only by reading and commenting on other authors' posts that connections are created and interaction is generated on Hive.

Without interaction you cannot talk about community and since the strength of Hive is mainly the strength of its great community without interaction Hive would lose so much value.

In addition, interacting with other users of Hive is a moment of confrontation and especially of growth.

Interacting on Hive means mainly to write comments on the posts of other authors and respond to comments you receive.

My commenting goal is to write at least 1500 comments by the end of 2021.

In 2 years and 4 months I have written a total of 10269 comments with an average of just over 12 comments per day.

To get to 15000 comments by December 31, 2021 I need to write 4731 more comments in 6 months (about 788 comments per month) so I need to interact more.

Onboarding goal: at least 28 people

Unfortunately I am far from reaching this goal as well which is a very important goal for me.

I have brought several people on Hive but few have become active and constant users, most have left after a short time.

I absolutely do not lose heart and I will continue in my activity of promoting Hive and I will continue to offer my support to the people who will accept my invitation and "break" the oppressive chains of centralization:

- 30 HP in delegation for a month

- my support on Discord to take the first steps on Hive

We'll see in the next days if my promotion activity will be successful or not...

Followers goal: 1000

In the month of May 20 Hive users have chosen to follow my account and now I have 707 followers.

June: Considerations

In the month of June I hoped to have more time available to devote to Hive and instead I had even less time than in May and in fact the number of posts published has decreased: only 26.

I'm however satisfied with the results obtained because even if I published a smaller number of posts I increased the total author rewards and I also increased the curator rewards.

- Total Author Rewards (HP): 455.09 HIVE (last month: 434.82 HIVE)

- Total Curation Rewards (HP): 159.99 HIVE (last month: 141.04 HIVE)

Conclusion

Reaching my main goal will be very difficult because to reach it I would have to earn 2000 Hive per month for the next six months.

But I don't like to use the word impossible because I'm also following other projects and if any of them would do very well in the future, I could use part of the profits to make a nice Power Up and then until December 31, 2021 anything can still happen ;)

As I do every month and for several months now I want to end my report with some thanks.

I want to thank all the people who follow me, all the people who read and comment on my posts and all the people who support me and have contributed to the growth of my account.

A special thanks goes as always to @fedesox, the creator of the Olio di Balena (https://peakd.com/c/hive-146620/created) community of which I am a happy moderator, who has supported me constantly since the beginning of my adventure on Hive and who supports and encourages the publishing activity of many other Hive users.

I also thank the @discovery-it community that I follow with pleasure and of which I am a curator.

Thank you all