Crypto, Blockchain Technology and my Personal Finance

I'm a tad old fashioned and a lot private (believe it or not!) so talking about personal finance doesn't come easy. I have, though, said more than once, that my arrival on the blockchain was precipitated by the lure of reward possiblity of monetising my writing. I've written all my life and have a yen (see what I did?) to do it often. Now that I've found my voice, so to speak, I've also started building the courage to opine about things that I'd usually only discuss in my small circle. Like I did a couple of months ago when I shared my reflections on HivePUD and tangentially on the matter of peer pressure. After all, this is a social blockchain and with that comes all sorts of people issues. Especially when a lot of folk here are not good at towing lines. The most vociferous ones, anyway...(myself included).

Social blockchain vs Investment Instrument

When I first heard about Bitcoin and the potential of an economy that seemed to be based on old fashioned a universal barter system, it really appealed. I didn't pursue it only because there were bills to pay, and as I keep on saying, for me, time is money. I cannot remember how long ago that was, but I paid it no more mind until the bull run; and joining this crypto-blogging platform in its other iteration.

Writing, in one form and/or for one reason or another, has been how I've earned a living. Starting my first WordPress blog in 2014 and joining this platform was, in a sense, investing in myself: to develop a body of work to potentially use as a portfolio. I soon learned that it was also a way to meet likeminded folk who also encouraged me to write more, differently, and not just recipes or the stories around the recipes, but a whole lot more.

WordPress is not a blockchain

I used to think of other blogging platforms as different from Hive; I'd never seen blogging as a social thing, but with hindsight, I realise that it is. Humans crave interaction. The "likes" and comments get the good endorphins going, as do the votes and comments on Hive. But not on a blockchain and WordPress is without the rewards a token in which to invest.

Joining Steemit that other iteration of Hive was my first introduction to both blockchain technology and crypto. I was a slow learner and my first post about Power Up Day in August 2019 was as much checking my understanding as it was about sharing the crypto news gospel with others.

As an aside –

When I wrote that post, I’d been on the blockchain for more than two years and hadn’t even managed to accrue 1k power. Just over a year later, and by mid-September 2020, my account hit 2k and with this month’s Power Up Day, the account might hit 3k. It's growing exponentially (almost).

Headshift

It was @streetstyle’s initiative, now ably managed by @traciyork, that made me pay attention to my account from an investment perspective. It was a significant shift. I began to see, and am now realising, the benefits (although minute in comparison to some) of investing my time (because that’s all I have) with the prospect of a tangible return. Notwithstanding the value of the token. At the time, the exchange rate was around $14 (US) to one South African Rand. Now, it’s 15, having been 17 earlier this year.

I’ll come back to this.

Not afraid of hard work - cerebral and physical

I have never been afraid of hard work. I've also been told that I'm very disciplined. I am not. Bills need to be paid and mouths to be fed (feline and human).

As a freelancer (or self-empoyed), I've always said that I have the best and the worst of bosses. My boss has me working ten, plus, hour days – willingly when it’s work that I enjoy - and when one’s work and skills are appropriately remunerated. Since Covid and online work has become the norm, anyone who can wield a pen tap out a word on a keyboard, thinks s/he is a writer. Consequently, it is well nigh impossible to find well-paying work. I’ve found myself, literally, part of a writing mill, earning less than 3c (US) a word. And that’s after the research and revisions….

What is the point?

I was fortunate in my "old" day job, that other than a couple of difficult projects, I loved what I did. I was passionate about it. I loved the doing of the work. I learned, pretty early on, that I didn't want to manage - it took me away from the coalface. What took a whole lot longer, was the learning that I time is finite. Yes, I sold my knowledge and skills (which is translated into time), but there are only 24 hours in a day, and one of me. For the most part that was fine, and my income was often more than adequate. Then, that last difficult project and the environment became increasingly fraught.

I folded my tent.

At the time, and because of the insidious impunity and corruption in the sector, and burgeoning debt in my business, I accepted the penalties and liquidated my pension and closed my consulting business. I sank a little into starting Destination McGregor and took on other projects for which my skills are suited; mostly writing.

I started doing more cooking: Sunday Suppers and products for the market. Those cooking days can be upward of 14 hours and which I do with great enjoyment.

Then the economy started dipping and Sunday Suppers diners dropped off, the market feet diminished and Covid struck.

There was nothing. But. SteemTron Hive the hardfork.

Covid and crypto and my personal finances

Up to the point that Covid (the lockdown) struck, all my work, was associated with tourism and hospitality. For small, survivalist businesses. Talk about kicking a dog when it’s down…

The Hardfork from that other chain was a mixed blessing for me. I would have loved to have doubled my stake on Hive. However, by powering down, I was able to convert it to fiat and stave off certain financial disaster. For the moment.

Things have opened up a little and the cash I generate at the market has increased and has made a material (really) difference. I am still part of the writing mill – building another portfolio – but I’m spreading my skills wings more and taking on other work.

I continue to use my sweat equity to invest in Hive. I have made a conscious decision not to power down if I can avoid it. I can see the benefit of HODLing what little I have; it’s growing exponentially; I am bullish about crypto and Hive. Content creation, I love and on Hive, in gross terms, that earns me as much and sometimes much more, than the writing mill. Especially if my content resonates with Hiveans.

And I write what I like.

It’s a no brainer to do what one enjoys and earn at the same time. If one can.

Thinking ahead

Like all of us, I’d like Hive to strengthen moon. I’d like to diversify my crypto interests – based on Hive – passive income would be nice. I’d not stop working: on Hive, on other platforms; nor would I stop cooking and doing the market.

Assuming crypto appreciates, and even if it doesn't, given the weakness of our currency, I have a nest-egg growing and which I intend nurturing until I need it to hatch.

Without having all my eggs in a single basket (bowl).

Until next time, be well Fiona The Sandbag House McGregor, South Africa

Post Script

I am doing my best to post every day for November as part of @traciyork's twice yearly #hiveblopomo challenge. This is my third attempt. Why not join the fun? Traci's full post is here

Looking for that gift for someone who has everything? Shop with Pearli in my evolving Redbubble shop -

And then there's more:

• If this post might seem familiar, it's because I'm doing two things:
  • re-vamping old recipes. As I do this, I plan to add them in a file format that you can download and print. If you download recipes, buy me a coffee. Or better yet, a glass of wine....?
  • and "re-capturing" nearly two years' worth of posts because of this.
• If you’re interested in a soft entry into the world of crypto currency and monetising WordPress blog, use the fantastic plugin to post directly to the Hive blockchain. Click on the image below to sign up -

Image: @traciyork

• I also share my occasional instagram posts to the crypto blockchain using the new, and really nifty phone app, Dapplr. On your phone, click the icon below, and give it a go.

In yet another aspect of my life -

English writing, research and online tutoring services

writing - emails and reports, academic and white papers formal grammar, spelling and punctuation more information here

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