RE: Witness Earnings Weekly Report - 2021-02-22

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Hi @quochuy! I just thought I would drop into the comments to give you a heads up (and some praise too while I'm at it!😁).

I have really appreciated these witness updates filling us in on what's what with the witness's that keep the Hive Blockchain operational! I'm glad that you've been taking the time to do this.

It's because you guys are doing something vitally important that I think these posts are important as well. If we are going to vote for you all it really helps with the due diligence to have something ping in my feed every so often. Keeping the communication wide open is the sort of transparency that a decentralized system needs.

It is because of this... that I have decided to cast my witness vote your way with the 3 accounts I manage: @wil.metcalfe @adventureready @beachready

Keep doing what your doing and thank you! 🙌

hive-111111
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Thank you for your trust.l, much appreciated.

Generating this weekly report is just one of the things I’m doing to support the platform. For example, I’m also contributing in the development of this blog frontend, we call it the Condenser.

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Thanks for letting me know a little about what your busy with here on Hive! Your reporting and staying accountable to the users annnnd your working on the frontend "Condenser". I'm glad that someone is thinking about things like this!

You know, @quochuy, If all of us found ways to support Hive this thing would go vertical even faster! 🚀 I'm currently reading a book by Jim McKelvey called "The Innovation Stack" I think there is so much potential in the Hive Innovation Stack. So much so that I sold my fitness studio and equipment and went all in on Hive. I see this as a way to trade tangible assets for digital assets. My business model has changed completely since I found Hive! (and with this pandemic... just in time too!)

I think that if more people thought the way I do and built their business's on the Hive Blockchain... That alone would kick things to the next level. I can see that coming... and we are going to need good Witness like yourself keeping things going!

The more minds meeting here on Hive the better! 👍

So that brings to to a question that's been on my mind for awhile now... If I, a somewhat tech savvy entrepreneur type, wanted to run a Witness... Would you recommend it? Is it easy to set up and maintain? I am seriously considering this... The more time and capital I invest here the more important it is for me to be running a Hive Node.

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Hi,
You are right, if everyone someone how contributes then the progress would be faster.
As for running a Witness server. It's really all up to you but here is what you want to know:

  • for the first few months or even years, you will probably run it at loss.
  • it took me almost two years to get a rank high enough to give me some good income.
  • check the page https://wallet.hive.blog/~witnesses it tells you how much Hive Power is needed for each witness to go past the witness above them. In my case for example, I'm at rank #23, it will take me 5 million Hive Power to reach #22. That means the HP of all my new voters should be at least 5M HP!
  • you will spend a lot of time reaching out to the community to get votes
  • if you look at the stats on this page, you will see how much witnesses at each rank earn per week. Is it good for you?
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Thank you for taking the time to explain how the witness voting works from your end. Honestly for me... It's more important that I'm doing everything I can to support the Blockchain.

  • As a entrepreneur who's sold his tangible assets and converted them into intangible assets here on Hive I would also look at the expense of running a node as if it were an insurance policy.
  • To add to that I can see how just supporting the network would or could become a form of social capital. It's not always about an in and out on the books. Hive is turning the standard business model upside-down.

I mean how many people out there would believe that there is a way to get paid to communicate? From the beginning of time people have had to pay to dearly to communicate with each other. This is innovation at work in the Attention Age. The Information Age is giving way and Hive is the genesis of something amazing! Even just being able to say to my kids that I was a part of that... That would be worth it for me! 😆

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