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Hey! This is something new for me to write about, as this is more finance related. Granted, I am no specialist and nothing in this will be my financial advice - I just wanted to present my own idea of how to spend the money that I earn on the HIVE Blockchain. I will also do a short summary of what I've done so far, especially with the Chaos Legion general sale happening in Splinterlands recently.
Screenshot taken from SPL
Let's start with what I had done and had planned for the Chaos Legion release. As Splinterlands is the way I actually joined the blockchain, it is fitting to begin with what I've done regarding its biggest release to date.
My plan was to get at least 100 packs in order to hold - and if I managed to get any in excess, I was going to open them slowly as I amass potions, especially as more airdrops come in, to gamble my way towards some of the legendary summoners. I also decided to keep some DEC laying around so I had the liquidity to buy some of the cards once they drop in price.
In order to fund this endeavor, I transferred anything over 40000 DEC to my affiliate account to buy credits with it - that way, I would get some extra credits for my pack purchases! The way I got this DEC was mostly through card flipping, as some of the Chaos Legion cards were quite volatile in price - I made the most of my money for this flipping Kelyas, but a fairly big chunk came right as Baakjira was released - I bought quite a few of them at 18-25$ and sold most of them at 30$+! I even kept 3BCX for myself!
In the end, I amassed a total of 124 packs(and opened 4):
In total, the approximate cost of getting those 124 packs was 437$ for the general sale packs and around 40$ for the presale. That brings it to a grand total of 477$ - I aim to hold these packs for a while and obviously am not discouraged by current H-E pack prices. In fact, I am still deciding whether I will purchase more packs through H-E or ingame, but for that I will have to calculate the expected cost of the future airdrops.
I have also spent most of my 40000 DEC on cards. It turns out I did it at the right time, when DEC was still in the ~4$ per 1000 range, as it now fell all the way to 3.3/1000. Some of the buys I am the most proud of are:
While I half-expect the prices to go even further down, with DEC going down more, I am glad I dumped it for cards instead. From now on, I aim to hold most of my liquidity outside of DEC and simply buy it shortly before I want to purchase cards.
Image courtesy of the 1UP cartel!
The second way I learnt about for earning on HIVE blockchain was posting and curating. While this came after Splinterlands, it is actually my favourite way, as I simply enjoy writing a lot, as well as reading other people's content. This is less about me rambling on about my journey and more about the financial part of it, so let's dive in.
I post every single day with a diversified pool of subjects - traveling being my favourite and most frequent, followed by gaming/Splinterlands and then other stuff like this post. This means I am eligible for rewards in HIVE, as well as Splintertalk Tokens, Oneup and the multiple general tokens such as Neoxag, POB, VYB and so on.
As for the general HIVE token, I receive the most of it as part of my travel posts. Having started the month with barely any HP or HBD rewards at all, I managed to climb my way up to nearly 60HP with still around 30+ in upcoming payouts over the next week.
My plan for what to do with these rewards is fairly simple - I want to keep all the HP where it is - no Powering Down until I at least amass a few thousand of it. I want for my curation rewards to be at least a little meaningful, so there is no stopping with increasing my HIVE Power.
As for HBD, I aim to convert them to HIVE every few weeks in order to use it for other ventures. One of the main ways to spend it would likely be Spliterlands (I am working towards getting a Land Plot!), but also smaller games such as Rising Star, Hashkings or even just transferring it over to WAX to grab some Astral Entities packs.
The simplest thing to do would be simply keep them in order to receive the SPS Airdrop.. but that is not very lucrative at a 0,25 conversion rate. Due to this, I believe the best way to use SPT is to exchange it for other Splinterlands assets. With the current low price of SPS, it feels like an interesting idea to simply switch the SPT into SPS and stake it for more ingame rewards. With 4000 SPT coming my way every week on average, that is between 70-75 SPS weekly at current prices. Considering staking as well as a potential uptrend for SPS soon-ish (not VERY soon, but still), it sounds like a great deal to me.
My weekly payout on my posts ranges from 200-400 1UP usually - I have a little over 600 pending this week, but this is more of an anomaly. That, combined with the 1UP staked to me for curating, means I rake quite some value for my writing and curation.
I could spend this money in a variety of ways, but because I am a part of the cartel, as well as simply see and believe in the passion for this project, I would rather keep most of my 1UP staked or in Liquidity Pools. The plan for those rewards is exactly that: stake them to have higher curation power, as well as put some aprt of it into LPs. Finally, I can always use it as emergency fund if I need the liquidity to purchase my way into some crazy opportunity!
When it comes to these, I try to judge them all on a case-by-case basis. Most of the time they are miniscule enough that I do not feel the need to use them much, but they do accumulate overtime and it's nice to see the extra 10-20$ in my wallet every now and then.
My latest idea on what to do with these payouts is to exchange them into LEO. The reasons for that are twofold - first of all, the LEO:ONEUP liquidity pool is quite good, while I also just believe LEO can appreciate in value overtime with the amount of work that is being put into the project.
Token | Goal |
---|---|
HBD | Convert to HIVE and use as Liquidity |
HP | Keep staked |
SPT | Convert to SPS and stake |
1UP | Stake and keep in Liquidity Pools |
"Small tokens" | Accumulate until meaningful -> Switch to LEO |
LEO | Stake and keep in Liquidity Pools |
Token | Goal |
---|---|
HIVE Power | 1000 - with just author and curation rewards |
SPS | 5000 Staked - Currently at 1.1k - using SPT and Staking/Airdrop rewards |
PLOT | 2 - I want to have 2 land plots, mostly using HBD from post rewards |
CHAOS | 200 - I aim to reach 200 CL packs by end of general sale ready for resale |
1UP | 50000 - Through curation and author rewards |
LEO | 1000 - Through exchanging other coins only and author rewards. |
Didn't noticed it was you until the part about being in the curation team XD
nice post as expected from the team.
!1UP
I'll be honest, I'm completely out of my element when writing this sort of stuff - gaming and traveling is what really gets me in the mood. I figured diversifying and trying to write about other subjects could be a good idea as well! Thanks for the kind words.
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We have the same approach for SPT, I am actually staking 30% or sometimes 50% of it and exchanging the remaining to SPS, and SPS is kind of low, so right now might be the best time to do this.
All in all, I had a good idea from your post, and find myself in a good position since I have been doing some of the practices that you do, and that makes me think I am on the right track.
Thanks for sharing your plans and earnings. You made some nice decisions with your card purchases/flips in Splinterlands.
I assume you were not lucky with airdrops?
To see what you are earning with curations and posts is motivating. I have to start blogging again. I like it that you have a fixed time schedule with Splintertalk on Wednesday and Sunday. I will try this, I think this will help to get more focussed and don't postpone it, because of other things like playing SPL :)
I hope you can reach your goals and I will follow your progress!
!PIZZA
I definitely love writing, so it is fairly easy for me to get myself to do it! It is slowly becoming a calming ritual for me - and if I know i'll be busy, I pre-write some of the posts and schedule them ahead.
I actually got the expected airdrop value - out of the three airdrops in general sale, I got a single Lira and none of the others. I'm hoping I highroll a little hard later on, wouldn't mind a GF summoner 😂
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Smart move buying these credits with an affiliate account for some extra cashback!
And looks like you have your plans mapped out pretty decently, so I wish you all the best in making them happen. I have learned that writing weekly update posts are very motivating to keep myself accountable to stay on track.
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