Do You Have Trust Issues? .:. #MyHiveGoals 2023
After skipping the last week's #MyHiveGoals, I am here again... I didn't skip the previous one on purpose... I was sick and not that "able to work" last Sunday... Luckily, during the week I got better and better... In the first place, I was worried that it will catch me like it was last summer and I don't want to repeat that experience again...
So... Today's topic is trust issues... Do you have them? I don't mean on trust issues with your partner or friends, but more in financial institutions and the crypto sphere... 😃 I have to admit that one of my main reasons to go full in crypto was exactly that... Losing faith and confidence in our traditional finances... As I experienced hyperinflation, deflation, and inflation on my own skin, I have realized that "politicians' promises" don't serve anything...
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When Bitcoin was invented, it was a perfect solution for people like me... I didn't understand from the beginning what it is, but when I did, I had no doubt about the tech... By kicking out the middleman, and kicking out the "promises", you can't have "trust issues"! Smart contracts, blockchain tech, machines, and algorithms are doing the middleman's work! Tokenomics are clear and transparent, so there is no way that your assets will be devalued, which happens a lot with fiat currencies! Every time that new USD, EUR, or other currency is printed, the money in your pocket is worth less!
Unfortunately, some tokens aren't 100% transparent, and we have a lot of them in the Hive-Engine's layer... Smart contracts that we have are powerful, but they have their flaws, and one of the most important is that the token creators can do almost anything with their tokens at any time... Because of that, we saw some of the tokens losing value rapidly as token creators were minting huge amounts of additional tokens... Later on, those tokens hit the market, create sell pressure and the value goes down... On the other side, they can be staked, and your curation rewards APR drops significantly! In both scenarios, your token bags got devalued...
As most things are transparent and you can check them in blockchain explorers (checking and following transactions), I saw that with my own eyes and that's one of the reasons why I pick Hive-Engine tokens for my portfolio very carefully... So, the question from the beginning, about trust issues is still present with some of the tokens... IMO, that's a big additional risk and I'm willing to take it ONLY if the potential rains are significantly higher...
In conclusion, if you want to invest in Hive-Engine tokens, you have to DYOR, but also, you have to look at the "human side" and research the token creators, their history, honesty, and knowledge...
It's time to go back to other numbers for #MyHiveGoals... In the beginning, let's check out HiveStats...
screenshot from hivestats.io
Oh, I just got aware that when I did the last report, it was in a similar condition as this one, as I skipped the previous week's report back then too! Huh... I have to work on my consistency... I know that I was sick, but still...
Anyways, the numbers did go up during the last two weeks... I was creating fewer posts, but I was doing curation every day, and I was powering up some HIVE every single day... In total, I have accumulated 470 Hive Power, which is around 235 HP per week! My weekly goal was to accumulate between 200 and 250, and I have reached that goal! Also, for the first time, I have reached my MONTHLY goal for Hive Power which makes me happy as it's a good confirmation that I'm on the right path to reach my yearly goal!
As for my LEO Power goal, I didn't have good progress in the last 2 weeks... As I distributed some of my personal LEO tokens for the PHPool delegators last week, I had fewer tokens to stake this time...
In the last 14 days, I have added only 110 LEO tokens to my LEO Power goal, which would be 55 tokens per week... The price of the LEO tokens went back down a bit, so that gives some hope of easier accumulation... But, on the other side, we are getting fewer LEO token dividends for HivePower delegation to leo.voter and that makes my accumulation harder... Instead of 16% APR for HP delegations, the real number that delegators are getting is around 12%.
GAMING GOALS - Flexible Goals
As I was sick, I was "playing" the Rising Star game on the "auto-mode"... Just clicking when the mission would run out, joining RAVES when the previous one would finish, etc... Also, I'm a bit worried about my EGO stat in the game as I can't lower it under 45%, so I'm doing more music lessons which directly means fewer STARBITS for buying packs and cards... Despite all that, I have opened 36 packs during the last week, or 72 packs in the last 2 weeks...
In the last 14 days, I have added 206 Rising Star NFTs to my collection!
When the GLX token hit the bottom and start to go up, I stopped buying tokens from the market... As I had some other "triggers" that I failed to execute, I decided to keep this one... Stop buying when the price goes up! But, that doesn't mean that I have stopped with my accumulation...
In the last 14 days, I didn't buy any GLX token, but I did re-stake all my earnings... By doing only that, I have grown my GLX token stash with additional 4820 tokens in 2 weeks! Just today, I hit 140K GLX tokens! Next stop, 150K!
It's time to update the numbers and put them into the spreadsheet until the next week! So, freshly updated numbers for #MyHIVEGoals, on June 25th, 2023 are:
These are my initial goals for 2023 created on January 15th, 2023:
Join me in this awesome #MyHiveGoals and let's grow together! It is fun, it is motivating, and it will keep you focused!
Thank you for your time,
~ph~
PS. None of this is financial advice of any kind...
If you want to support my Hive-Engine witness node, you can do it by voting for @ph1102.ctp here https://tribaldex.com/witnesses... THANKS!
Don't forget to follow, reblog, and browse my Hivepage to stay connected with all the great stuff!
You can also find me on LEO Finance .:. Twitter .:. LBRY
Great work with your goals, the GLX one you are seriously crushing it!
Thanks!
I do nothing regarding GLX... lol... Just compounding that I have already bought earlier... But, if it goes further down, I could buy some more... 😃
Wow you seems to be very focus and clear about your goals on hive 👌👌🔥.
This year I didn't have anything plant particularly but actually I am planning to accumulate at least around 20k hive power. For that right now I am powering up almost every single post. From around more than a month, and i can see the difference of that. Although I am loosing the yummy hbd at the same time but it is ok. We can't catch all the tarin at same so this time new approch one at a time, it will make this easier and simple for me. 🤗.
Not gonna invest in any hive engine tokens just staking what i did get from posting and curation. Great post as always. Good day 😊🙏 and have great week. Good to know you are healthy again take care.
!giphy great
!PIZZA
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That's something that I'm always working on... lol... Trying to stay focused on certain tokens and trying to lower the noise and fomo... Diversification is good, but being over-diversified isn't... I had 30-50 tokens that I was planning to HODL in 2017-2018... Most of them died and I learned the lesson... :)
Now, my long-term portfolio contains 3-4 tokens, which is in percentages over 90% of my whole portfolio... 5-10% are some risky tokens... :)
Having a plan is always a good thing... It helps a lot in reducing the noise and keeping the focus...
This is good, i do often do make goals but i am unable to accomplish that. 😬 This time i am trying my best to achieve that let's see how things will go.
I used to buy some hive engine tokens but now i am trying to pull all most everything and planning to keep on a few like you said. It is really hard to manage all the funds at same time.😅. Sometimes less is better.
Have a great day and week ahead sir 🙏😊🔥🎉
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Hope so now you're feeling well 😃
I surprised to see the title actually when i read trust issue 🤣 but later i knew that it's all about finances 😜
I prefer to DYOR since i join crypto, i explore thing's in my own way.
You're doing well with your goals, keep it up and have fun 😀
Thanks for the comment...
For certain cryptos you don't have to have trust as everything is integrated into the code and the blockchain, but in our case, with Hive-Engine tokens, code can be changed and that's why we need to do our research...
Which type of code do you talking about here??
When you are creating a Hive-Engine token, you have to fill in details about it, like total supply, decimal places, ticker, etc... For example, on Bitcoin (or on the main HIVE chain), these details CAN'T be changed at all, or without the hard fork (consensus)... While, for Hive-Engine tokens, the token creator can change these details...
Ohhh it's okay, it's about creating hive engine token and i thought maybe codes related to hive 😸
As far as I've seen for my country, It's just around 1 of 10+ promises that they can give to us.
Congrats on achieving the monthly goal for HP 🎉
!PIZZA
You mean, they have fulfilled 1 of 10+ promises? That's not that bad at all... it depends on how many is that +... lol...
Yes, They have fulfilled AT LEAST 1 of their 10+ promises that I can see and it's on the news. At another time, I just see the news about people asking for their 'political promises' 😂
!LOL
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Well, the truth is that I have trust issues but not the way people put it. Before I take any step, I'm always dicey about the step that I want to take. I'm always trying to make sure that I don't take the wrong step
That is also what I do whenever I want to invest in a coin...
What you described is making a decision, where you decide to take (or not) a certain risk... In those moments, you know/research if you can trust or not... Unfortunately, things can change after that and we have to make another decision(s)...
This is the line come into my mind when I read the heading, This has nothing to do with tribe tokens but with some of the "investment tokens" where after taking management fees looks like those operators are still not happy, and now instead of giving back the fair share they want to keep the share also.
Why do you think that it is different with tribe tokens? 🙂 Smart contracts that run both types are the same, so you can have unfair token creators in both fields... I'm not defending one or another, but just saying that I saw shady things on both sides...
Thanks, Got you.
If I am failed to observe and notice something, it does not mean it does not exist. I am just unaware.
That's a great topic for a post! 😃
It's hard to follow everything and we don't know a lot of things that are happening behind the curtains... Sometimes, those things are good, sometimes they aren't... :)
I am glad you are feeling better. As for trust, I tend to want things in my own control so I try to limit how much I am willing to invest so it doesn't affect me badly if it doesn't work.
You are doing quite well on your goals and nice progress.
In the end, it is always all about the risk management... Without the trust, potential income should be much larger than with "proven" projects/owners...
You are crushing it, whether you were sick or not!
Trust well with people I know the score, but you are right ... Layer 2 well that is a different story.
When it comes to tokens, I don't really understand why people issues billions of tokens, what is the point? Ergo I don't see the need to burn tokens in the first place if you set your stall out correctly.
But that is just me.
I can understand that if you plan to distribute your token to MANY people... Also, it's amazing how ordinary folks like to be millionaires... :) Even if those millions are worth pennies... I witnessed that so many times... lol
I have to defend this as we are doing it with Liotes... 😂 It's hard to "predict" how certain things will develop in the future and burning is a good tool to help you to keep the token value... I know that it sounds bad (burning money), but it's much better than printing money without limits...
Also, not ALL burnings are the same... I saw token creators burning tokens that aren't even coming to the market... that has 0 sense...
For example, in some way, FED is burning USD by pulling money off the markets... Again, not saying that it's good, just saying that it's everywhere...
I know Liotes are doing it, my thing if there were not so many billions issued there would be no need to burn tokens to help keep value.
I suppose that's one of those... "It's a Jersey Thing" stuff... lol...
People like to be millionaires or even better, billionaires... 😂
But, if I have to pick between (others) burning tokens and keeping the value by doing that, or looking at how billions are printed and the price goes down, I will take burning all the way... 😃
!BEER
Hope you feel better. Your growth is still good and constant congratulations.
!LUV
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Thank you! I do feel better which is the most important!
I can engage with people and continue where I stopped... :)
Well I certainly don't trust politicians that's for sure, I think no matter the country or the party the political persuasion, they're always crooked in one Way or another my experience.
I'm not all in on crypto myself. I still use investments and banks for things like paying my mortgage and paying bills and the likes.
Well done and your impressive account growth as well - great stuff and thanks for the advise on hive engine tokens. You made really valid and useful points there about the risks and potential rewards.
Hahaha... we are on the same page on that... It's just a question if their "crookery" is more visible or not, or legalized or not...
Unfortunately, I'm also having one banking account (I remember the time when I had like 4-5...) that I use for paying bills... Luckily, I'm debt free, so I don't need to stress about dealing with banks too much...
Nice one, great position to be in. I'm similar, although I do have a mortgage, but once that's paid off, I'll never need to worry about rent, so worthwhile debt in my opinion
tbh, I would rather have a mortgage than to pay rent every month... I hope that I will get into that position in the next crypto bull run!
Ya hopefully during the next Bull run you make it happen. Often times mortgage repayments are less than rent payments too
https://twitter.com/LovingGirlHive/status/1673256723510091776
Thanks for sharing my post!
health the say is wealth, it is always good to protect our mental health so as regards to trust one really needs to look critically into what he or she wants to embark on in order not to tamper with our mental health
Health should be always in the first place and probably the best indicator for doing some investment or not... If it causes stress, it's not worth doing it!
Our health maintenance should not be underestimated
Thanks 🙏 for your support I appreciate
Umm I have also trust issues but not in crypto, but in real life friends...
I wish you best of luck for your goals🤞
With crypto it's good that you can just avoid projects where you have trust issues.... With friends, it's a bit different... But, you can do the same... Avoid those friends and find those in who you can trust...
The huge power token creators have on HE is one of the reasons why I generally don't invest significant amounts on HE, with very few exceptions (Splinterlands tokens being one of them).
You are still doing great with your goals, despite maybe not being as active lately.
I saw some of our big HIVE whales apeing in many Hive-Engine tokens just because some of the "friends" launch it... I mean, I do respect some people, but that doesn't mean that everyone knows what it is doing... It's not just an idea that is important, but also running the token/project, following a trajectory, adding value, and being persistent in doing that... on a daily basis...
I was a whale in maybe 2-3 tokens and learned that it's not the best decision to be that... lol...
https://twitter.com/lee19389/status/1673281255222448129
#hive #posh
Thanks for sharing my post!
Welcome
LEO is the best bet in terms of HE tokens in my opinion. The adjusted tokenomics and enhancement of earning potential within the community ecosystem is unparalleled.
LEO has a lot of use cases and many developments all over the place... That's a huge bonus compared to other tribe tokens...
Yes, that makes a solid case for $LEO!
Best of luck with your goals. I'm thinking to set my goals for the next 6 week, related to hive.
Thank you! And I can just say DO IT! You will see how motivating is to follow your results and you will be more focused to reach the goal!
I would like to say about this is that when a person trusts someone, be it his friend or someone he loves dearly, if even once in a lifetime, the trust is lost. If it happens, after that, a person can never love's or live like this.
You are right... When trust is lost, it's hard to earn it again!
I agree that trust is an important issue in the crypto sphere. As you said, some tokens are not 100% transparent, and the token creators can do almost anything with their tokens at any time. This can lead to a loss of value for investors.
Yeah, and unfortunatelly, when there is a way to do something bad, people tend to use the opportunity and do it... That's why it's important that most of the specs are "locked" in the blockchain and can't be changed...