Building HIVE status, while Compounding...
There was a time when I used to scoop every penny from whatever source I could and spend it without thinking otherwise. Well, there was no other option for me due to the circumstances around me. There was no possibilities for me to save/keep something for the worse case scenario.
Situation changes, so does our way of thinking! I have come a long way! So much has happened, quite a lot of new attributes got added into life! All the hard work and hustles, it has started to bore fruit. Maybe not the way I have anticipated but there is light which I can see as of now at the end of the tunnel.
When our way of thinking changes, so does our goals! I do not want to go out of HIVE and bore you to death with all my boring stories, so HIVE it is which have made a significant impact in my journey so far.
Lessons learned...
This crypto winter has taught me a lot! I have been surviving this winter due to the fact of the savings that I have made over the bulls. A lesson learned from the veterans of the crypto. Although, I was impatient enough to get into those cryptos without waiting long enough. Or else my situation would have been far more better than it is now. Another segment to improve for thyself ;) Keeping that in mind, I have been able to see the power of compounding along this journey of mine. I have heard, how people accumulate while waiting for the right time and just keep on repeating the process. It pays off, it definitely does. Tried my best and even now trying to make up for the things that I am doing for my future. I do still consider myself as a noob and I am improving along the way.
When you start thinking big, the mind helps in finding ways to make that dream come true. Hustle, will power and opportunities all of them combined, the dream can come to reality. It takes time but its worth it!
The Power of Compounding
I have been compounding few of my assets for the past couple of months and after seeing the growth of those assets I was sort of stunned. Yes, I have done that (compounding) in the past but not to that extend where I have actually invested a substantial amount of money.
##### Few ways to make use of compounding
HIVE-Power**, is probably one of the best example that once can give about compounding. I have made plenty of posts about HP and how it can serve us in the long run. Few ways which I have been compounding HIVE is via powering up posts to 100% HP, where my author rewards will end up in full HP and they will be in staked balance. Even though the curation reward is low but my amount of HIVE (HP) will increase as time passes by. This way my account growth has been quite great and when I check the graph at the end of the month I am quite happy with what I have achieved so far. Although, I tend to improve as time passes by and I want to reach 100k HP as soon as possible. Yes, it is a long way for me to go but that's the target for now.
My last 1 month account growth! Organic! Content creation mostly!
*Image used from Peakd, analytics*
-
Splintershards
I have around 36k SPS staked in my main account @rehan12. I remember doing the process of staking from 31k SPS. After that I just kept on compounding and I have also added some additional funds from outside. But obtaining almost 5k via compounding that is something I do really cherish along the way. Yes, the balance is not really much to many out there but I do really cherish this small victory of my patience and will power once in a while.
Image used from Splinterlands
I recently activated the Splexgg service. Where my SPS will get restaked every hour from now on and that even automatically. My interest rate just increased as of today. Since my interest will be provided with the staked balance of mine and that is meant to increase every hour as of today.
If you want to use the every hour compounding service of Splexgg
-
If I ever have HBD (big amount) in my account
One of the future plan that I want to initiate along the HIVE journey of mine. I want to enjoy the 20% APR for a long time. Since we have seen how stable currencies are depegging over the course of this bear market, HBD does seems one of the best choice to have as of this moment. Which is why I intend to compound my way of the APR that I will be getting for staking my HBD's into my savings account. Yes, this is a work on progress and hopefully I will achieve this goal of mine soon enough.
*Image used from peakd*
I do believe in the power of compounding. I do not like the person WARREN BUFFET because of his thoughts about crypto. But he is a successful person and he have shown us some ways where he have managed to build his wealth all through his life. Compounding is one of those strategies which he has followed all through his life and if you study some of his interviews and his thoughts you would be surprised. Knowledge is indeed such a precious item. Get it and implement it in your life. Since we can grow from every step of our life.
When I think about long term, I imagine a life where I will not have to stress about everything. I could do whatever I want (nothing crazy lol). Just a life without anything holding me back. If I am being honest, I do not have those things backing me up. By that I mean money or wealth. Many of us have to grind our way to the top. Count me within that crowd. Work harder and also work smarter along the way.
I am forging my future along with HIVE! What are you upto in this bear market?
Best regards
Rehan
If you want to play Splinterlands
Splex.gg Rental Service
_
Optimize your time and the return on your Splinterlands assets!
_
