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

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Written by

libertycrypto27

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

2 years ago

Topics: Hive blockchain, Hive, Goals, Goal, Crypto, ...

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

I joined the world of Hive on March 5, 2019 and since that day it has been 2 years and 3 months.

Hive is my favourite blockchain project and it is on Hive that I decided to focus more than other blockchain projects and that is why I never did a Power Down.

After my first year on Hive I started setting growth goals in terms of Hive Power (HIVE staked).

The first goal I set for myself was to reach 10000 HP by February 28, 2021.

I reached the 10,000 HP goal 4 months early (11 November 2020), so I decided to set another goal right away that was much more difficult to reach but at the same time more motivating: 30,000 HP by 31 December 2021.

When I passed 10000 HP HIVE was worth about less than 1/3 of what it is worth today: $0.12.

With such a low value it was easier to accumulate HIVE because a low value discourages users who only look at the short term and therefore there were fewer active users which means fewer posts to divide the HIVE Reward Pool over.

I strongly believe in the project of Hive in the medium-long term and I don't let myself be influenced by the value of HIVE in the short term and my activity on Hive is not influenced by its price but only by the time I have available.

And in fact in this month of May, due to work and family commitments, I had little time to dedicate to Hive compared to previous months.

Today 7 June 2021 1 HIVE is worth $0.42 while exactly one month ago (7 May 2021) 1 HIVE was worth $0.57.

In one month 1 HIVE has lost almost 0.15$ of value but as I wrote before I don't care about this value because I consider Hive one of the most useful and undervalued projects of the whole blockchains panorama.

When HIVE has a low value it is the best time to try to be even more active than when HIVE has a high value because it is easier to accumulate HIVE.

Having more HIVEs means you have the ability to convert your HIVEs into Hive Power (HIVE staked = Power UP) which equates to having more weight within the Hive blockchain.

Having more Hive Power is equivalent to having:

- more voting power to reward favourite 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.

Setting and planning goals is the first step to reach them and for this reason every month I write a monthly report to analyze my activity on Hive, to monitor my path towards the achievement of my goals and especially to self-motivate me to reach my goals.

Here are all the goals that I have set for myself 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 have built a table so that I can monitor my progress towards my main goal and I have divided my main goal into smaller intermediate goals of monthly duration.

As you can see indicated in the fifth column of the table in the image below the intermediate target to be reached in May was 1807.63 HIVE.

My Wallet

On 1 May 2021 my Wallet had a value of 15538,978 HIVE (HIVE+HP+HBD).

On 1 June 2021 I took the screenshot of my Wallet at: https://peakd.com/@libertycrypto27/wallet (image below).

My Wallet counted: 16104.525 HP, 0.588 HIVE and 43.437 HBD.

Adding up all the data (HIVE+HP+HBD), the total value of my portfolio was 16208,534 HIVE (1 May 2021)

The increase in value of my wallet in HIVE (HP+HDB+HIVE) that I achieved in May was 669.56 HIVE.

This is lower than the previous month's result of 764.89 HIVE.

The monthly percentage increase is also lower: +4.31% (previous month: +5.18%).

I updated the table with the June results and, as you can see from the image below, I did not reach the intermediate monthly target.

To reach 30000 HP I need to accumulate 13791.47 HIVE and to do so by 31 December 2021 I need to accumulate an average of 1970.21 per month.

Based on the current value of HIVE my account has an estimated value of $6883 (previous month: $9227).

If I divide this value by the total number of months since I signed up, I get a monthly value of approximately $261.55 ($7062 / 27 months).

Secondary Goals

I have also set secondary goals that I consider important even though they are secondary.

Reputation Goal: 76

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

Reputation is not always a true value because in the past the use of bid-bots was tolerated.

Today the use of Bid-Bots is strongly discouraged on Hive and I am happy about that.

I have never used Bid-bots and my reputation is solely the result of my posting and interaction on Hive.

Reputation is an indicator that differentiates Hive from other centralised and traditional platforms.

In fact, in traditional, centralised blogging platforms such as Facebook, it is not the type of user activity or the quality of the content they publish that is important.

The only really important aspect for Facebook & Co. is user data and in particular data that outlines user preferences and tastes is important, data that is very valuable and can be sold to companies interested in this data and therefore is highly monetisable data.

On 1 May 2021, my reputation was 73.06.

On 1 June 2021 my reputation was 73.22.

In one month my reputation increased by 0.16 points with a monthly percentage increase of +0.22%.

According to the site information: https://hivebuzz.me/ranking I am at position number 565 in the reputation ranking of all Hive users (last month I was at position number 592).

Total Number of Posts: 1300

On Hive I discovered the pleasure of writing and publishing content.

I don't consider myself a blogger at all, but I like to write posts about my passions, my thoughts or about decentralised projects that I like.

Until the first of June, I have published a total of 955 posts.

In May, I published 34 posts, 10 more than in March.

In order to reach my final goal, I should be able to publish another 345 posts in 7 months and therefore I should publish at least 49 posts every month (49.28 to be precise).

Engagement Goal (total number of comments): 15000

Among my secondary goals the total number of comments is the goal I care most about because without interaction there is no community and the strength of Hive is mainly its big community.

Interacting with other Hive users is also a moment of confrontation and growth.

Interacting on Hive mainly means writing comments on other authors' posts and responding to the comments you receive.

In November 2020, I also set a target for the number of comments: 15000 comments by the end of 2021.

In 2 years and 3 months I have written a total of 9955 comments with an average of about 12 comments per day.

In order to reach 15000 comments by 31 December 2021, I need to write another 5045 comments in 7 months (about 720 comments per month).

I hope to have more time to dedicate to Hive in the coming months so that I can reach my goal.

Onboarding goal: at least 28 people

This is another goal that is very important to me and in fact I am continuously promoting Hive.

In May I didn't manage to bring new users to Hive but I talked about Hive with several people I met in the park near my house.

About ten people were very interested and I offered my support to help them take their first steps on Hive:

- 30 HP in delegation for one month

- my support on Discord

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

Target Followers: 1000

In May 19 Hive users chose to follow me and I now have 687 followers.

May: Considerations

Like April, May was a month full of work and family commitments. The fine weather has also started and if I have free time I use it to take my daughter to the park near my home.

Family and work commitments always take priority and it is only right that they should.

For all these reasons, I have spent less time on Hive than in previous months.

The less time I have available to dedicate to Hive has resulted in a decrease in both total rewards from posting and total rewards from my curation activity.

- Total Author Rewards (HP): 434.82 HIVE (last month: 545.69 HIVE)

- Total Curation Rewards (HP): 141.04 HIVE (last month: 160 HIVE)

Conclusion

This month I hope to have more free time to post more content and most importantly I hope to have more time to spend interacting and reading the posts of other Hive users.

As I do every month at the end of my monthly Hive report 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 to @fedesox, the creator of the [Olio di Balena](https://peakd.com/c/hive-146620/created) community of which I am a happy moderator. Fedesox has supported me constantly since the beginning of my adventure on Hive and he supports and encourages the posting activity of many other Hive users.

I would also like to thank @phage93 and the lovely community of @discovery-it for the support received on some of my posts and for their willingness to answer some of my questions.

In May I became a curator of discovery-it and so in June I will begin a new, exciting and enjoyable commitment on Hive that I will try to carry out in the best possible way to repay the trust placed in me.