What Business Would You Start with $100? & 11 Reasons to Stake Hive/2nd Layer Tokens
In one of the classes I took to get my Bachelor's degree in Business, I had to come up with a business where I was required to invest up to, but no greater than $100. At the time, I don't think Hive existed, and I'm not even sure Steemit was a thing yet. At least, I probably didn't know about it. However, if I were a student taking the same class now, it would be a no brainer what I would do.
During the class, I had to come up with a list of business ideas, pick one, and work on it the whole semester. I decided to make t-shirt graphics and use the $100 to advertise my work via Google search clicks. I only sold one shirt the whole semester...and I was the customer LOL!
Looking at the great opportunities around Hive, if it had been an option, I certainly would have invested my $100 into Hive, using some of the money to buy miners and other parts of it to stake HP or some of the 2nd layer tokens, like LEO. Right now, I'm trying to build my HP organically, but once I have enough to have my resource credits replenish faster, I will start to focus on coins that pay me back or on delegating power to projects that pay me back.
It's a powerful thing to be able to hold the "Power" yet let someone else benefit from it for a while and get paid for my delegation with nothing to lose. I mean it...Nothing to lose! After leasing or delegating HP, I can have it all back at a moment's notice. This is such an incredible blessing we have within this community!
11 Reasons to Stake Hive/Other Coins on the Hive Blockchain:
These are the benefits I've seen to staking your coins since I've been around (which hasn't been long):
- Curation rewards are much higher.
- You lock up the main token causing scarcity in the market and a higher valuation.
- A higher vote value means people recognize your name when you upvote with a high enough percentage. The more you are noticed, the more you're followed, read, and upvoted.
- More staked means more voice. It means people read when you write, they pay attention to the moves you make, and with faster resource credit regeneration, you're able to get more of your voice into the sphere.
- Delegation is possible with increased staked positions. You can help projects grow without even giving them a cent. You're giving them backing, but it doesn't cost the person with the staking other than their value is worth less now, but usually those receiving the delegation pay back the "donor" or "sponsor" with additional incentives.
- It removes the temptation to sell all when emotions are high because prices are sinking. It helps to force the holder to stay in a holding pattern and to not get spooked.
- Passive income can start to take place using services like hive.vote to get into a curation trail. When your 100% upvote is worth 0.001, getting on a trail makes no sense.
- It shows intent to stick around. When others feel you're not doing a smash and grab, they're more likely to vote in your favor. They'll feel that the vote they leave for you will be held onto and managed properly in much greater proportion than a brand new account where trust has not been earned, yet.
- Protection from hacks. By keeping your earnings locked up, even if someone were to hack your account, it will take a long time for them to liquidate your account and it may be possible to reclaim the account before all your holdings have disappeared.
- Followers are more likely to increase. With a larger upvote, new members or people who have less HP saved will be more likely to "Follow" you as they trust whatever you're doing will work for them, too. This also means you're likely to get more automatic votes from those accounts, or at least be read more widely/shared/reblogged in higher frequency.
- Callouts-this may be annoying at some level, but the reality is the more your account is worth, the more you're likely to be mentioned in a post. This is a double-edged sword. For instance, I know onealfa is called out quite often (I purposely left off the @ so he won't get notified directly of this...out of respect to let him do as he will) because his accounts' votes are high valued and people are naive enough to think that if you call out an account with larger holdings that they'll come and spread the coin. This may be seen as a negative; however, if people are name dropping your name because of the value of your holdings, it's free advertisement...which reverts back to a larger pool of followers/readers/upvoters.
There you have it...if I were to start a business with $100, I would start it here on Hive and use the money to jumpstart my "empire."
If you had to start a business, being limited to only use $100 as seed money, what would you do?
By the way, we all had to sign an agreement that whatever we earned that semester would have to be donated to a foreign business person. There are some microlending sites where people need, for instance, to buy a goat or a hen, etc. to get their business going. I saw one where the head of the household wanted to buy a mule so that he could take his wares to the market. I didn't earn anything, but it was a great incentive, and a few people have built businesses that made $10,000+ during the semester with their $100 idea. All of it was donated, but the business was run thereafter for the student who came up with the idea. I loved that class...What would you do?
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