Creating passive income with Hive
Hi,
as some may know, I'm all in for passive income or residual income. Income that is generated by investments.
A friend of mine bought himself a new car today, totally without a sense, as he was driving a car that was one year old. He said that it is an investment for him. I was thinking that it is just another cost centre, as it does not produce anything. He does not rent it to others and does not use it as a commercial transport mean.
I'm focusing on assets, if my wife goes to McDonalds, I buy shares in the same amount she spent there, same for some other retailers.
But coming back to Hive. The higher the stake, the higher the passive income. I know, we are supposed to read and vote manually. I'm having a hybrid system, as I can still vote, when offline and busy with other tasks.
Also, having different assets, like miners or NFTs that are rented, is a good way to produce further income.
It is a pity, not to use the means, when it is so safe in here. Our assets, under our keys, produce an income, without having a headache. This is one of the most important aspects. Let it grow and produce, but still under your control.
How do you see it? Do you see Hive as a mean of generating passive income?
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I'm currently in the first phase, trying to build up assets here. But yes, my end goal is passive income from Hive. I got some other investments that pay dividends, but I'm not satisfied yet, this web3 thing is a "must to master" on my list.
I really don't understand how can someone see a car as an investment, unless, they need a car anyway, and the new one is going to help them pay less for gas or repairs.
Keep building up, and let the already build up stake work for you. It is an easy 20% per year, which is amazing from any point of view.
Regarding cars, there are a few that are profitable, like I flipped some BMW E30. Still have one, that I might keep, as it has been paid by two other flips. A new car that has no chance to be a cult car or a trend, is a waste of money. Imagine that there are people who bought a new Fiat Multipla.
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Yeah, I didn't think about it from reselling perspective, that makes sense. Still, there are so many other investments that you could go for before this one, I guess.
I'm really not a car person and don't know much about car models but I definitely know this one, hahaha. I was watching many years ago a video with not even remotely close context to cars, yet the guy spent more than a solid minute shitting on the car design. xD I remember that car since.
Everything has different angles of viewing, where a lot of opportunity might be hidden. I know cars well, so sometimes I would risk a flip. On a sidenote, I would never buy a multipla.
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Here on Hive, you can grow your crypto assets while holding your keys. You are in full control, it is not like you transfer it to others and that person controls your assets. It is fascinating to see what we can achieve here on Hive in the long term.
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I see you are still here after so many years and writing the sum up of the post. I think you would be great in writing abstracts on scientific papers. There was some site for this, but can’t remember.
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I don't have and won't buy any shit token on this or other chains without use case. When @nextcolony still existed, their tokens had utility, so I had some of them to play. The issue of the "passive income" in the scammy DeFi-World is, that it is not "passive" at all. You always need to look after your shit(coins) because if you are late to cash out, their worth goes to zero, or if you are late to withdraw, the platform rug pulls or goes sam-bankcrupt. That is enough reason to not play that game.
I’m out of defi also, decided to do a rug pull on all. Now owe mostly BTC, stables like HBD for 20% and game tokens/NFT that go into renting or playing by bots. Else like you say, constant check on rug pulls.
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We have a saying in the BTC maxi community: buy shitcoins, get rekt.
Btw. I see and use HIVE not as investment but a social network with incentives done right. So I argue HIVE/HBD not being shitcoins...
The first time I read this from you! :)
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I see it as a place t make new gay friends. Like you!
Shiny happy people
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Passive income guru here.
Oh, your wife would better buy shares too instead of eating McDonalds. La astia nu se strica nici cratofii... Iti dai seama ce baga in mancare...
HBD into savings my plan for the bull market profits I never took. Maybe in 2024-2025.
Mor când merge!
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Te cred...
I like that (provided they're growing companies). Might as well get something back for all the money you put in.
We have a trash hauler company here that a friend works at which is nationwide, and I'm thinking of doing the same with them. People (and businesses) will always need someone to haul their stuff away! :)
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If it is Waste Management, I would buy it. But this is no financial advice.
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