Saturday Savers 2023 Progress Report Week 13 and HPUD
It's Saturday, and that means it's #SaturdaySavers update day. And what a day ! It's #SaturdaySavers, April Fools Day, Week 13 (exactly 25% of the way through the year) and Hive Power Up Day all rolled into one.
If you're not familiar with SaturdaySavers, it's a fabulous initiative run by @shanibeer writing as @sally-saver on the @eddie-earner account, where we all support each other in getting to our savings goals.
Image by Nimrod Oren from Pixabay
Here's this week's table of progress;
Rather than going through it section by section as I usually do (does anyone even read that stuff ?), since it's exactly a quarter of the way through 2023 I thought I'd make a few observations on trends so far.
Hive Power Up Day
I put more into HPUD this time around than ever before, powering up 500 HIVE. This is liquid HIVE I'd built up over the month from fiat converted to HIVE. It certainly isn't sustainable every month, but with the current uncertainty in the legacy banking sector and concerns over government-controlled CBDC's, I definitely want to significantly increase the percentage of my assets that are in things governments can't just take away with a handwave.
Reward Levels
Both on Hive and elsewhere I'm seeing the rewards of all kinds dropping.
An example is BAT rewards on Brave, which were 30% lower than the previous two months. Basically, they don't seem to have the adverts to display, so the rewards for seeing adverts just aren't there.
On Hive, I made more posts than ever but the rewards for each post seem lower than usual, 64 HIVE compared to around 95 HIVE for each of the previous 2 months. I'm not sure if the problem is that my post quality has dropped (I hope not !), or that some of my regular voters have dropped away (either out of Hive entirely, or just spreading their votes in other ways), or that some of the additional audience I get isn't seeing the posts.
It's really hard to work out how much of it is personal to me, and how much of it might be a short-term macro trend in HIVE. Or it could just be bad luck. But actually, I enjoy being on Hive, so the level of rewards is somewhat secondary. I'll just have to keep my competitive side under control !
Tribe Tokens
I honestly can't make my mind up about Tribe Tokens. There are a few that I'm pretty sure are good long-term bets - LEO, EDS, maybe LOLZ, BEE and ALIVE.
But it's a sad truth that most of them are likely to gradually diminish to zero as projects fall to neglect or fail to attract enough of an audience. That's only natural, as in most fields of human endeavour the Pareto rule applies. I'm certainly not blaming those who go to the effort to create a tribe and the token that goes with it - it's better to try even if it doesn't work out, than to not bother at all.
So overall, my view on Tribe tokens is that I'll keep the few I've mentioned, plus those I can delegate to generate returns paid in the good ones (mainly LOLZ, they've got an extensive delegation programme). The rest will get sold as and when the prices look good, to create SWAP.HIVE to buy the keepers and minimise the outside investment I need to make, which is mainly to hit the 150 LEO goal for LPUD.
External Economic Situation and Base Currency
At present, because I live in the UK I track the value of my portfolio in GP Pounds. Because most cryptocurrencies are commonly valued in US dollars, this means that the value of my portfolio appears to be diminishing as the dollar weakens, a particular problem with HBD and other dollar-based stablecoins.
Although it will take quite a lot of setting up, I may start looking at my portfolio's value in four different bases; US dollars, GB Pounds, Chinese Yuan and BTC. The hard bit will be digging out historical data on the price of those bases for each time I've converted fiat to crypto, so that I can work out the realistic value of the investment for each currency. I might do a small sample first to see if it is worth the effort !
The First Quarter of 2023 Overall
Overall I am very pleased with the way Hive is going for me and the number of Saturday Savers goals I'm hitting. The way I interact and make the most of it needs some fine-tuning, but I suspect that will always be the case as new toys are being given to us so fast !
The macro-economic and global political situations are a significant cause for concern and with everything seemingly messed up I have spent the first quarter trying to get in a good place with crypto and other "safety net" investments just in case I have less fiat available to invest later in the year.
But the most important thing is that I am thoroughly enjoying being here on Hive, and for that I have to say a big "THANK YOU" to all you fellow Hivers out there who are making the place so much fun and so non-toxic compared to legacy social media places.
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I read something about the Savers Club, but honestly I did not really get what you all guys and girls are doing :D
Do you have an article to refer to so I can relate?
Besides, I think that the decrease in the rewards is not necessarily a matter of posts quality but also the probability of getting noticed from trails and whales (or small whales)
Thanks for the feedback !
This year's intro article is Saturday Savers Club with @sally-saver | 2023 Launch and FAQs
SaturdaySavers is an amazing initiative created by @shanibeer - it's quite informal and hugely friendly, with small prizes as well. It mainly enables us to set our own Hive goals for the year and track them through weekly updates. I find it a really great way to get a bit of support when I waver, and to pick up useful hints and tips. It's been fabulous as a way to give me the self-discipline and focus to stay on track that I'd otherwise lack 😀
😍
thanks @alonicus @shanibeer and @hoosie for your warm intros to the Saving Program
I would like to start with Hive savings. How can I do if I cannot separate the Savings Hive from the general Hive wallet?
Would you suggest doing it with HBD?
It depends whether you want to build HIVE savings (HIVE remains liquid with three days to withdraw from savings); or whether you want to build HIVE POWER? (or any other token including HBD).
If you are looking to start saving from 0 (HIVE savings, for example), decide what you would like to have saved by 31 December; and then choose your savings plan. You could follow the 365 challenge, or you could choose your own plan eg 50 HIVE per month.
If you want to grow your HIVE POWER, decide how much you want to aim to add by 31 December:
eg 1827 + (150 x 9) = 3,177 HIVE POWER where 150 HP is based on your rewards over the last 30 days. If you add the compounding effect of inflation, you could reach 3,230 HP.
The first thing is to decide what is it you want to save and what you are saving for 😍
Thanks for the explanation, I think that this year I can go for the HP increase. I am planning to build here on Hive, so accumulating HP is already my goal for this year!
So, I agree to set my HP goal to 3,177 to the end of this year!
How can I proceed to get on track and be integrated into the program? :D
Hi, HP is a good choice. Start setting up a plan for how you want to increase your HP (ie, regular posting, for author rewards, etc) - and maybe set up a weekly report/tracker to help you check progress, etc. Its maybe worth looking through the other reports that the SSC members produce each week to get some ideas. If you go through the comments on yesterdays SSC post on the @eddie=earner account, you'll find them there.
Best of luck !
@mikezillo - would be great to see you in the Saturday savers - you simply join by commenting on the main weekly post from the @eddie-earner account - easy ! And as said by @alonicus - its a nice supportive group of people growing their investments !
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Hello @mikezillo, excellent advice from @hoosie and @alonicus about Saturday Savers Club - we'll be pleased to see you any time you would like to drop by 😍.
Thats a really impressive weekly gain for HP - very nice indeed !
For info, I've also seen a fair drop in my HIVE income from posts since the start of the new year - very similar to what you have seen. So I dont think is personal to you. Some of it is to do with the slightly high price of HIVE I guess. I also dont seem to get the same curation upvotes as I used to get, which I guess is also part of it. But Hey ho - I'm still happy with progress, and am doing the best I can with it.
Anyway, I liked the summary stock take of where things are - its good to compare views !
Best of luck for the coming week !
Cheers
!ALIVE
!LOLZ
!PIZZA
!PGM
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@alonicus! You Are Alive so I just staked 0.1 $ALIVE to your account on behalf of @hoosie. (3/10)
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Great post, @alonicus, it's great to see this kind of review 😍
I wouldn't worry too much about rewards, they come and go, just keep engaging with people, building your relationships and having fun. It will all work out 😎.
The big challenge for many layer 2 tokens is that we have so few daily users - perhaps 4k-6k posts a day? - that's a lot of competition for attention and resources when there are so few people around. It will be different when adoption increases (think long-term here). There's a couple of strategies - invest a little in a few with long-term ambitions with the intent to HODL (the CTP and BRO families come to mind); look for tokens with a defined and possibly time-limited purpose - SPI, EDS (and its miners) and XV all fit into this category; get a few for fun to play with, if they increase in value, well, that's a bonus. Then there's HSBI which is just about increasing wealth for everyone.
I decided long ago to work in USD and just convert to GBP now and then when I wanted to check the overall value of my HIVE (including layer 2 tokens) portfolio against my fiat investment. I'm fairly relaxed about it, because I'm fundamentally okay with my investment in Hive.
I think learning to work on a four-year cycle is really beneficial and reduces the anxieties about ups and downs along the way. I'm preparing now for my third bull-run in about two years time and starting to position for that.
Glad Saturday Savers Club brings a lot of value to you, thank you for joining us 😍.