HIVE Power Up Day - January 1st 2022
HELLO 2022! Another year has gone by in a flash! I've only joined HIVE for about 2 months and I'm still learning so many new things everyday! Today, I learnt about the Hive Power Up Day (and its corresponding acronyms PUD, PUM, PUH 😄 phew... that's quite a handful) and decided to take part in my FIRST EVER HPUD!
To be honest, I'm still not entirely sure about the nuances of Hive Power Up Day, but I've read up as much as I can about it and I think I've got a brief idea. 😉💡
🏁How it All Started🏁
I came onto the Hive blockchain trying to set up an account for SPLINTERLANDS. Prior to this, I had just about ZERO knowledge and experience with any Blockchain. It was pretty confusing to me as a complete novice - much different from how the usual process of setting up an account to play any game goes. 😵
This led to me googling around, and of course, I stumbled onto all the Hive blogs with their guides. One thing lead to another and I somehow stumbled upon the guys from 🍕Hive.Pizza🍕 who were extremely helpful in answering all my queries and guiding me along. Shoutout to all PIZZA members. JOIN THEIR DISCORD if you need any help!
📚It Leads to Blogging📚
Of course, having dipped my toes into the entire Hive ecosystem, I wanted to join in the huge community and also write my thoughts and participate in all the blogs. However, I soon realised that my pitiful amount of Hive Power restricted the amount of interaction I could partake in. I was always running out of Resource Credits every single moment! 😭
I decided to pour every single Hive and HBD I generated back into Hive Power and to be honest, it was never enough. I finally decided to take the plunge and buy more HIVE with some spare funds I've set aside. And as fortune would have it, today's that day which coincides with Hive Power Up Day! ⚡️💪 (thanks to @namelessnameless for pointing out HPUD to me)
⚡️HIVE POWER UP⚡️
This is what I'm at before - at just 47HP 😭 (BEFORE)
AND its POWERUP time! ⚡️💪 (AFTER)
I decided to powerup 100 HIVE. It probably still won't be enough. But baby steps and consistency is the way to go.
📈💎🙌My Long-Term Plan📈💎🙌
Now clearly, I wouldn't just spend such an amount on just being able to write and reply in a community. HIVE as a token also has significant value and growth potential.
This is the price chart for HIVE for the past 3 months. As all the HIVE regulars know, HIVE reached its ALL TIME HIGH earlier on at about $3, before the general Crypto market slump where it has stablised at around $1.5.
This is still a significant increase from the start of the year and those who were holding on to HIVE tokens from even earlier on should have seen a significant returns on their holdings.
I can see the potential in HIVE and am bullish on its future prospects. As they say, diamond hands and HODL 💎🙌, I too intend to just hold onto my HIVE tokens and since I've no intention of cashing out anytime soon, what better way than to participate in HPUD and locking it all in.
Keeping my HIVE powered up as Hive Power also earns about 3% interest and gives me increased returns on my curation. From what I've seen, curation APR ranges anywhere from 4-12% depending on how efficient I am at curating. This sounds low especially in the crypto world, but it is still far superior to any bank interest rates. 💰💰💰
🎉🥳🎊Have a HAPPY NEW YEAR!🎉🥳🎊
I hope to continue to powerup monthly in this community event whilst also growing my Hive stake. It would be most interesting indeed to chart my monthly progress this way too.
Before I sign off, I would like to thank @thebeardflex and the rest of the guys at the PIZZA DISCORD (join this great community, plenty of events and airdrops and friendly people willing to help!), @namelessnameless , @relf87 & @koodies for all helping me in one way or another in learning about crypto in general.
Once again, a Happy New Year to everyone and may 2022 be a great year for us all. 🎉🥳🎊