Saturday Savers Club: Week 3
It has been a good week, as we have some new members "signing up."
on L1X Assistant on LayerOneX's server on Discord
I can imagine how encouraging that must be to the OG members of the Saturday Savers Club.
May our tribe increase!
Onward and upward! Into my weekly update ...
Weekly Update
So far, so good. I have been blessed by a better reception for my travel-related posts than I had anticipated.
Source: @roleerob's spreadsheet for tracking 2024 progress
Definitely a nice "bump" from last week's travel-related post payout! 👍
I've been "in here" too long, though, to not know how this can change very quickly. Having just received my first downvote, by one famous for them ...
As the "stablish" token of our Hive blockchain, saving HBD with its 20% APR (read @gadrian's recent and informative post on this topic) is self-explanatory. For now ...
If you are wondering why it is one of my savings goals and you would like to learn more about EDSD, here you go (click on image) ...
Source: Weekly EDSD Update posts on @eddie-earner account
Weekly Focus
Where am I going to "draw the line" between deciding to resume some investing here on our Hive blockchain and the rest of the ... "cryptosphere" ... where I spend the bulk of my time these days (and have for a long time)?
"Gotta know where I am going, so I will know it, once I have arrived!"
Examples always help:
Source: Stable coin Yield Farm APRs on SparkSwap, on PulseChain, on 2 Feb 2024
Why would I put $$s into HDB and Hive blockchain L2 tokens, with their very limited liquidity (by comparison) and associated risks, when there are options like this ... "outside?"
In a word ...
I wouldn't ... I won't ... As I have always consistently and clearly stated, I am an investor first and foremost (otherwise, we would have never "met") and that would, therefore, just be foolish.
Yes ... Well ... Hold on. In my SSC introductory post, I said I was "in here" to help others. With examples, etc. And that is what I have done since (yes, I am well aware I am only on Week 3 ...).
Having given my word and made a commitment, I will follow through. I just need to be clearer in deciding where to ... "draw the line."
Weekly Tip
Saving money is investing money, right? In a word ... No. At least not today ... Look at the interest rate in your TradFi (tradional finance) account and compare it to the rate of inflation where you live.
You are not "getting rich slowly!" You have only slowed down the rate at which your hard-earned money is losing its purchasing power.
So ... Points to consider:
Saving $$s => Investing $$s => "It takes money to make money" ...
Key concepts: Power of compound interest! <=> Money goes where treated best!
Fiat steadily eroding in value / purchasing power => Along with privacy ... => Combine and learn about DeFi investment opportunities, e.g. as shown in example above.
With your weekly progress,
begin thinking about
investing!
begin thinking about
investing!
There is a lot to learn! No time like the present, right? You may find it the very motivation you need to "keep on keeping on" with your savings efforts.
Get started and put the incredible yet simple compounding power of the passage of time to "work" for you. The sooner the better!
Your "future self"
will thank you
someday!
will thank you
someday!
What a world we live in today! While I will not get into details, to protect my privacy, I am finishing this up and publishing in far from ideal circumstances. That said, I can still do it (since you are reading this ... 😉), due to the marvel of our technological advances.
I’d love to hear any feedback you may be inspired to provide. Or, if I can help you with anything, please don't hesitate to ask.
Until "next time," all the best to you for a better tomorrow, as we all work together to build up our Hive Communities and add increasing value to our Hive blockchain! 👍 😊
Respectfully,
Blogger @roleerob
Hive "Dolphin" 🐬 & Man Cave "Dragon" 🐉
P.S. I am not a financial adviser. Please consider this post as financial information and / or opinion only. Please perform your own due diligence, in whatever manner seems best to you, if you have found it to be beneficial.
🌲 No trees were harmed in the publishing of this post! 🌲
2024: FAQs • 2024: Savings Options • Hive Channel • Discord Server
as part of the SPInvest family.
Saturday Savers Club's 2024 Launch and FAQs post.
My SSC Introduction & Objectives post.
Hey mate - it is always nice to get some recognition for your posts - as you said somewhere it comes and goes.
Your point about liquidity is well made - I had a reminder myself this week as I urgently needed to cash some funds out to fiat, but had very little available that was not staked or with no liquidity to get a fair price. Working on making more of my portfolio (small as it is these days) more liquid. Cosmos eco-system, were I spend alot of my crypto time, has seen a big growth of Liquid Staking tokens, and that is the direction I'm heading.
Thanks for the reminder that liquidity is of primary importance. @silverstackeruk focuses on the same thing alot, should head the message of wise heads like yours and SSUK.
Cheers mate, have a good week.
JK.
Yep, @jk6276, I learned the lesson of "dry powder" during the split from ... "those other guys" ... and wrote a post about it.
I swore I would never make that mistake again. While always a bit of a balancing act, so far, so good!
P.S. I have also experimented on various ways to get "dry powder" in from outside Hive. I hope I live long enough to some true DexFi functionality here on our Hive blockchain, as that will be a red-letter day, for sure!
Yeah, the juggle is real, my biggest issue is in the Cosmos eco-system. I love the airdrops, but they all require keeping tokens staked, so while I have funds there, they are locked up usually for 21 days.
As for HIVE - It really does feel like a lot of HIVE likes how isolated it is. I don't get it, connecting - properly - to the bigger defi centers should be a no-brainer. Sadly, it is 2024 and the main way I bring funds to HIVE is still through a CEX - for me Binance. About the only thing I use any CEX for these days.
I'm watching the VSC project, and keeping my fingers crossed that it can be the option.
Looks like you are making nice progress there. And I like your weekly tips section !
!ALIVE
!LOLZ
!PIZZA
@roleerob! You Are Alive so I just staked 0.1 $ALIVE to your account on behalf of @ hoosie. (8/10)
The tip has been paid for by the We Are Alive Tribe through the earnings on @alive.chat, feel free to swing by our daily chat any time you want, plus you can win Hive Power (2x 50 HP) and Alive Power (2x 500 AP) delegations (4 weeks), and Ecency Points (4x 50 EP), in our chat every day.
lolztoken.com
Minute Mice
Credit: reddit
@roleerob, I sent you an $LOLZ on behalf of hoosie
(3/10)
🌄 Good morning (here)! ☕ Yes, thank you @hoosie. Nice progress with even more to follow this coming week. I may have to adjust my savings objectives. Upward!😉 👍
I appreciate you letting me know my Tip section has some value. Given my commitment to write a weekly post, we'll see how long I can come up with one. Hahaha ... 🫡
Thank you for your steady efforts to put out your weekly post. I know it is not easy and wanted to let you know I do notice and am thankful for your faithfulness in getting it done.
Onward and upward into a new week of savings! 👋
Greetings friend congratulations for the good reception to your publications related to travel, I see that also moved that welcome to your weekend publications so, much to celebrate.
Congrats on the progress on your set goals, and thanks for this wonderful advice, that's where we are my friend, trying to put into practice tips like these in order to grow.
We are trying to build our savings base and then take the next step towards investing.
🌄 Good morning (here)!☕ Yes, @gerjer, I am certainly surprised by these early "votes of confirmation" about my decision to return to some posting on our Hive blockchain. I have learned to ... "hold them lightly" ... however, as they will come and go.
Thank you for highlighting some points you found of value, in your journey towards achieving your savings objectives. Along the way, you will find a lot of opportunity to learn some valuable life lessons. And looking back on them, at some point in your future, you will hopefully be able to express how they were transformational ...
All the best, to you and yours, for a better tomorrow! 👋
I loved reading your tips and projects. In fact I feel inspired to have a secondary goal and be able to review several progresses at the same time, anyway I don't consider myself an investor and your point is interesting, money working for me, with its interests and what is the current inflation in my country. Anyway it is too advanced for my current knowledge, but I will look into it and hope to understand it better by the end of the year.
Very good, @littlesorceress ...
... I would encourage you to do that!
We all need to do our best to keep our money working, at all times. While the destructive power of inflation varies, from country to country, it is a universal challenge for pretty much all of us.
Thanks for stopping by and letting me know you found some value in reading my post.
Thank you, you are very kind and I really try to see the more experienced ones as options to consider and see if what you do applies to my needs. A hug, keep it up
This is a nice progress. The SSC is doing great, motivating members to save and also get some interests alongside. Doing this is like helping one's future. Keep going.
Yes, @princessbusayo. Have you ever considered joining SSC yourself?
Yes, several times but I haven't yet taken the step to join and be a member. Though I am saving but I think I need a push from a club like this. I will get to join soon.
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Do you think it's a good time to convert HBD to HIve in anticipation of Altcoin Summer, or do you think HIve may fall further in price before the summer?
#notinvestmentadvice
I really won't pretend to know. I do not personally spend too much of my energy trying to decide whether prices are going up or down. In my next weekly post, I'll be touching on my general approach to my own investing.
Thank you.
I find what you say very interesting, although I can't give you a valid opinion since I'm a novice in all this
I think it is. Very true you save with interest rates for it. Except in the case of my country, it is not profitable.
Because of how fast inflation is, sometimes I think it's better to spend the money.
Well, @lavidaesuna, you have come to a good place to learn! Be encouraged, as we all started in the same place. Knowing very little and gradually adding slowly to our knowledge a bit at a time.
If you wish, you can join the Saturday Savers club. You might enjoy the weekly opportunity to learn and earn.
Or perhaps consider what some do, in your situation. Keep your money in a stable form of crypto and only exchange it when you need to spend it. For example, HBD is algorithmically pegged 1:1 to the U. S. dollar.
$PIZZA slices delivered:
@hoosie(7/15) tipped @roleerob
Dear @roleerob !
I'm amazed that you are investing in an Australian man created token. I wonder why you act like that!
? I have no idea what you are talking about in this comment.
Dear my respected senior steve!
I assumed you were investing in a cryptocurrency created by an Australian man!
I hope you understand if I made any mistakes due to my awkward English!😂
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