Although I don't have a stash of cash anywhere, I've decided to empty my little fiat savings to start buying and powering some hive.
This is because the Nigerian naira against the dollar loses value with each second that passes, and owning it means you lose some purchasing with each day that passes, because you have the same money but cannot buy the same time you bought with it about 2 to 3 days ago.
This cash isn't much as it's not more than $50, but keeping it in Fiat currency will make me lose its value in just a short time. Although at 37 cents I don't know if hive might still dip further, which means if it does then, I might lose some of that initial value, however, if it were to be in Fiat, the loss will be more.
Case-Case Scenarios
I only painted a worst-case scenario, but the best-case scenario is that hive eventually appreciates since I'm powering up some decent chunk of it, using the powered-up stake to keep curating, while earning back my initial investment, keeping the value away from fiat, taking some decent profit from the proceeds of curation, while growing my state simultaneously.
It's like killing three birds with one stone. However, I'll badly like to reach orca status and this is why I've decided to keep buying in trickles and powering up as much as I can, although I cannot completely say I'll be consistent with my purchases, because money is a big issue, but I'll be sure to do so when I squeeze out any cash from any external venture.
Of a truth, I'll like to build two solid real-time businesses with a decent ROI, but my best bet is waiting for the bull market. This is because building these businesses would be life-changing because it'll allow me the opportunity to buy loads of hive when it's the bear market. But I'll need to build these businesses first by taking hive proceeds, but there's nothing bad with fattening the cow, even if I intend to take off it to build something more external.
My lifetime goal is to build at least 300k hive power, I intend to build an external business where the proceeds will be targeted at taking advantage of the bear market every time and taking minimal profit in stable coin and restocking it into hive when the bear market Comes.
It's a long game, but it's a cyclical process I want to continue repeating for as long as I can to get to my goal of over 300k HP. This might take 10 years or lesser, I do not care, the main goal is to build externally and restock hive when it's the bear market.
During the last bull market I spend a little cash on some splinterlands assets, and due to an airdrop I got from GLX, I sold some early and powered up some hive, although I also bought back some GLX, I already saved some hive which I powered up as well. It's great to be compounding.
There are some hive projects I've missed out on like BRO. I think I had the chance to buy in during the bull market, but Instead, I lost some cash buying into some Other assets, no hard feeling.
I think the next bull market should be iconic, as I plan to make some nail-biting decisions. I don't know when the splinterlands market will boom, but since I sold some hive to buy some of the assets, I'm now selling back some vouchers to buy back hive. All roads lead to selling off other fringe assets to buy back hive, because this is the cusp where big things might happen in many months to come.
Hive is ridiculously there for the taking and I think everyone who is hodling at the moment is doing themselves a great favor. So welcome to the game of compounding, hopefully, I can keep buying some hive before the next bull run.
Interested in some more of my works?
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The Consequences Of Being Overly Assumptive About Money
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Tech & Gadget Sophistication; Picture & Aesthetics
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here is a tip to speed up the process :)
@tipu curate
Upvoted 👌 (Mana: 42/52) Liquid rewards.
Thank you so muy, that is an amazing gesture.
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When I started a hive, I thought it was just about blogging and earning, i never paid attention to my second layer but lately, I have come to know that hive is more blogging and is full of other opportunities. I will be making good use of the bear market instead of allowing my HBD lay around doing nothing.
I believe you can do this boss, the fact you are prepared to be achieve this no matter how long it takes speaks of your determine. Reading your post is always educative to me and I have always learnt something new with each post. Thank you boss
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There are so many massive opportunities here I must tell you. You cab even decide to buy HBD, while saving that HBD instead of putting it in the bank I tell you.
Thanks a lot, well the truth is that anyone can do it, there is no one actually cut out for this role. Anyone with the right plans can go ahead to make this a possibility, so I think you can also do it. Building a higher future is what everyone should aim for.
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The loss wouldn’t just be more, it would be permanent. Unlike the hive dip which is temporary and the loss is only realized when you hit sell.
With all the updates and developments happening on chain since the last bull, I have no doubt the next bull market will be epic for Hive.
Talking about fiat, I’m surprised that the Ghana cedi is starting to find it’s strength again against the dollar. The cedi-dollar rate came down from 15 to almost 13cedis per dollar recently. I’m hoping it either holds its ground or fights better.
You're right, in naira, the loss would be more permanent and irrecoverable. As for the Ghana cedis, I think massive respect to your rulers, those guys are doing a great job, even if they weren't, they're not embezzling the Nigerian fund.
We're a clueless country with only a name to back it up. I think having money in naira is what no one should ever dream of doing.
Crypto is the future, this I can tell, I'll rather lose some Money to gain it back later, than having it in naira.
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I wouldn’t say Ghana’s leaders are doing a great job. Far from it. I don’t know hoe they managed to bring the exchange rate down, but this is the only good thing they’ve been able to pull off in months. I hope the economic situation on both our countries gets better.
Oh and btw, since you missed out on BRO, they’re launching a new token, Legion and you can take a look at it and decide if you want to be an early investor. I’m sure you already knew this but I’m adding it just in case you missed it.
A classic read with great ambition. Heheh. I wish you success and we look forward to be like you.
Yeah that’s life for us. There are time of up and down but scaling through it is what makes it an achievement.
300k ho isn’t bad for a boss like you sir. You can do it!
Thank you, you too can also aim to build, it's a long life ambition, anything is possible.
Haha a boss indeed, everybody is a boss in their own cabal. Likewise you.
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Thanks so much for the words of encouragement…
I would make sure to do my best sir.
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Nice job buying some Hive. I haven't really bothered with changing fiat into Hive because I want to grow my account more organically (outside of the $1k that I spent on Splinterlands when I first started). It's too bad that Splinterlands isn't do so well in price but it's still a great return if we count SPS/GLX airdrop.
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Yeah, splinterlands assets has plummeted for such a long time now and sometimes it feels worriesome. Then I remember that there can be more outside Opportunities to earn from the assets like glx and SPS. I think I'm happy throwing in some fiat. I want to grow my account anyhow I can.
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I feel ya! Good luck for reaching your 300K goal and orca statud (I aim to be a dolphin :-)). keep at it and I am sure you will reah it!
Thank you. It's all a pipe dream at the moment, but then, I'm hoping for the best
Just like the movie "Fields of Dreams" : Built it, and they will come!
Well it's quite a long shot but I'm hopeful.
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Accumulating Hive and staking is a great financial plan as it comes with a long-term and lasting reward.
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That's a long time plan bro and it is achievable provided hive continue to stand.
Better to leave a considerable amount of money here than to leave it in bank where bank will use it to run their own businesses while the money lose value there without them even giving you interest that is worthwhile.
$HIVE is a great thing to buy. Keep up the good work my friend. We are building something great.
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Thank you Task, we're truly building something great.