Power Up Day - 1st December: Hive and Leo, and why PUD at all?
Well, its the first day of the Month again, and y'all know what that means, its time to Power Up!
And if you don't know (or perhaps not paying attention) this is the initiative by @traciyork, @hivebuzz and @arcange regarding the PUD: Power Up Day. The aim is to encourage Hive Users to invest in hive to power up their accounts and help to grow this community
Why participate in the Hive PUD? For the community as a whole, it's a great way to show support for our blockchain home by staking (aka powering up) Hive and adding to its value. In addition to making your own vote more valuable and adding to your curation rewards (as well as earning interest on your stake), you will also strengthen your influence on the blockchain. On top of this, some amazing members of the Hive community are offering prizes that include delegations, Hive giveaways, and other cool stuff to the Hive PUD participants. ---Quote Source: This Post by @Hivebuzz
So it has sneaked past midnight, and is now technically the 1st December. Not only am I super keen, but I am also busy tomorrow, so I will get the ball rolling with this here PUD now. Also it means that I will maintain my 100% PUD badges currently available
First things first I power up my alt. account @earthsea with 50 HP.
My main account has all its HP delegated away via @dlease to make it work. I use the Hive Power from my alt account which is delegated to the main account, which now stands at 815HP, this is the bit I use to vote on awesome content that I stumble across.
The main account has been powered up by 148.9 Hive.
(the ocd part of me is desperate to make that a nice 150 round number, but I literally have nothing else lying around, bah!)
Oh well. Powering up that Hive takes me to 4362 HP
https://hivestats.io/@dannewton - I love a nice graph, and that looks veerrry nice!
Now I mentioned on one of my "Weekly Review" posts that one of my first goals for my Hive account (now that I have decided to stay here for the long haul) is to reach the Dolphin Level. I have been aiming for 5000 HP, but due to very technical and complicated reasons, it is more like 5180 HP. I did see that somewhere, but I can't find the link/blog/post to check it.
If that is the case then I am 820HP away from the target. I already have some rewards pending (bout 90HP) which means that in reality I am 730 HP away. I had hoped to make it by Christmas, but that is looking a bit tight now. I'll give a decent of it, but if I fail, then I will just complete it in January anyway.
What next?
Oh yes, as I mentioned earlier I use the Stake from my secondary account to vote and curate posts. The stake for this main account is delegated mostly via @dlease to earn a return from it... currently at almost 14% which isn't bad. When I first started this there were a lot of 15-17% loans about, now its good to find any above 12.5%
I am earning near enough 1.5 Hive per day in interest. I currently have 450HP being undelegated, I'll put that back to work in a few days and earn even more interest.
Now, going back to this whole PUD, Power Up Day initiative. Why do we do it? Why do I do it? Why should you consider it too?
Well, I'll tell you why, and I will use Leo as an example. On this Power Up Day I have decided to buy some Leo and invest it. I bought some hive, transferred most of it to LeoDEX and exchanged it for Leo.
150 odd Hive got me 74.925 Leo...
...and staking it (or powering it up) it becomes 110.532 Leo in total. This has essentially 'tripled my stake'.
The main use of the stake is that it increases your vote power. And therefore it follows that if you increase your stake (or investment) your vote power also increases. The two images below show the same vote for the same comment before and after staking
Before, my vote power at 100% is worth 0.004...
and after tripling my stake, my vote power has also tripled. It now worth 0.012.
So not only does increasing your stake benefit other people (you can give other accounts better rewards for their awesome content) but the act of doing that also increases your own rewards too. And so the more you earn, the more you can stake and the better rewards you and the people around you can get.
Whether you chose to Power Up Leo, or Hive, or both or indeed any of the other tokens, it all works the same.
Mostly.
There is a difference between the flat curation with Leo and the non-linear curve for Hive, but the principle still stands. The more you can save, the more you can invest, the bigger the rewards.
So, are you Powering Up today?
Hopefully this shouldn't need saying as I am obviously VERY new to this 'investing in crypto' stuff. This is not financial advice, and I strongly encourage you to do your own research to decide what is best for you etc etc.
Thank you for reading, I hope you found it interesting.
If you have any thoughts or opinions on this article then I'd love to see your comments.
And if you really like the content then maybe you would like to upvote or re-hive it.
All Photos taken by @dannewton unless otherwise stated.
Check out my website for more of my work.
Posted Using LeoFinance Beta
