May 2023 Hive Power Up Day, Plus Some Analysis on my Hive Account

I've done my duty for Hive and fellow Buzzy Hive types 😁

Yes, it's Hive Power Up Day, or (as I like to think of it) "one small step closer to transitioning from minnow to dolphin". That makes it sound more like butterflies than bees, but I'm sure you get the point.

Image by Rajesh Balouria from Pixabay

So I powered up 200 HIVE, which is about half of what I've got in my wallet.

I've learned to keep a reserve on hand, mainly to convert to HBD any time the price looks good, either if HBD temporarily drops (a rare event, it holds it's peg remarkably well), or if HIVE pumps (more common, it's always hard to know whether it's a temporary move or the jump to the next level of bullishness.

It is a Bank Holiday here in the UK (so inevitably it's rained on and off all day), so I thought I'd also take the opportunity to look back and do some analysis on my Hive account.

I'm still a relative newbie, I've only been here since December 2021, but it's interesting to see how my account has developed.

This graph shows the relative growth of my HP compared to the Hive earned each month. I multiplied the Hive earned by 10, just so we could see the trend line.

The conclusion I reached is that there's only a very limited correlation between the two. A significant amount of my HP has been bought with fiat, and I appreciate I'm lucky to be able to do that !

The slight upward trend of Hive earned is probably an accurate reflection of the increase in my vote power and thus the amount of curation earnings, plus natural inflation of HIVE over time.

But it's not a close correlation so I looked for something else that illuminates the situation.

These two graphs compare the number of posts per month to the HIVE and HBD earned.

This is definitely a much better correlation !

What it suggests is that the real value in Hive is in being a creator of content. Which of course makes total sense.

I think the spike at the end of the HBD earned graph is worth watching; I wonder if it reflects the growing importance of the 20% monthly interest earned as my overall HBD total goes up. It's worth noting, however, that this is counter-balanced a little by the fact that HBD is pegged to the US Dollar. Relative to the British Pound, the US Dollar is slowly but consistently sliding in value at the moment, reducing the value of any crypto holdings priced in dollars.

The fact that the HBD to earnings is a closer correlation than HIVE to earnings is a complex one to resolve. The variable nature of upvotes (and thus earnings) for each post will be reflected in both charts. I'm going to go on gut feeling here, because analysing it with pure data would take longer than I've got ! But I suspect it's a reflection of the additional impact of upvotes for comments, plus curation earnings.

That's all for now ! I'm still in love with Hive, and it's mainly because it's such an un-toxic place compared to certain ... other.... social media sites 😉

The earnings are nice, but since I regard it as long term savings, it's not the most critical part of why I stay here and enjoy it so much. For that, I need to just say a big "thank you !" to all you other wonderful Hivers 😀