AskLEO: Power Down Leo, Hive or Both?
A dream of mine is, and have always been to use Hive in a way that it helps me financially in real life. I have cashed out Steem in the past and I bought a phone, clothes, went to a decent restaurant and whatever. It felt nice and I've never had any dreams of becoming a crypto-millionaire or whatever..
I've just wanted to use my rewards/income from crypto in real life, whenever it suits me, just to treat myself something extra so to speak. I have never had any significant stake and cashing out tokens when they are worth less than $1 have never really felt like a good idea, even though I have done it in the past.
That being said, I have 4800+ Hive and 3000+ LEO at the time I am writing this and I guess that there are others out there thinking about cashing out now when we (finally) are looking at the charts and can see green numbers and climbing prices.
Hive is worth $0.52 and LEO goes for $1.09 at the time I am writing this. Now, I don't want to power down but I've started to somewhat feel that I owe it to myself to "have at it" while I can so I can actually use some of my "internet income" in real life.. At some point.
It wouldn't only feel nice, but cashing out would also prove to my friends and family members that the time I invest into this place is rewarded, and that it can help me in real life.
Even though $0.52 still is a bargain price for Hive according to me, it's been a long time since I've had the opportunity to actually cash out at those prices.. $1+ for LEO is still a bargain, but my LEO stake is actually worth more than a months income from my job and it wouldn't hurt to use some of that in real life..
I guess that my question is:
If you were about to power down, how would you do it?
I haven't thought about this too much but I think that for me, personally, it would make the most sense to power down both at the same time. Some of it.. I mean, LEO is worth more than Hive, so I get more money by powering down LEO, but I also delegate my Hive power to leo.voter and I get LEO in return...
- Would you cash out Hive or LEO, or both at the same time?
At what point will you power down?
Is $1 enough or do you aim higher than that? $5? $10?
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Just keep a 10% powerdown going all the time, so you are always taking something off the table, yet earning in the meantime. Or just wait for $2 or $3 prices, then start.
That's actually a really good idea.. I've thought about doing that in the past, but it never felt like anything "substantial" cashing out 10%.. But everything adds up.
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Thats a good idea!
And what if it will go higher?
Steem was around $10 USD a few years ago.
The more the Hive worth, the more your upvote value worth. Why power down, when the things are getting good? I will not power down in the near future. Not even if the price will be $5 USD. I am planning for the long term with the Hive blockchain.
I can totally understand- and relate to what you are saying.. What if I continue to stake my tokens for years to come and everything just suddenly crashes though..?
That would mean a lot of time/money spent with zero profits in the long haul. A power down (or a couple of power downs) would reduce the risk of getting zero profits.
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With what they have done with Hive security, etc, I'm not too concerned. On the other hand, if it were Steem and Justin sun, then never.
Yes, I agree with that sentiment. My plan is to continue stacking Hive, powering down only tiny amounts. Or delegating, and possibly selling earned tokens, at least something like that.
Ye you can do borh. But didn't Leo fell a bit the last few days??
You coumd also just take cub profits.
I would say, I also wanted to get my initial investment back from Hive, so I might do that in the near future and invest it elsewhere. I dont need the money to survive and I really dont buy stuff xD
I still haven't got around to use it.. lol
I have 10 CUB sitting around and doing nothing right now.
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Whaat brother, They need to be invested! :D
I thought you would be one of the first to jump on that train and earning the crazy returns! :D
Haha yeah, I know.. I wasn't really ready for it when it launched, due to lack of time etc.. And I haven't really bothered with it yet. I sold a few on Hive Engine and initially planned to use the other 10 CUB, but I just didn't had the energy for it when I realized that I had to pay BNB, lol.
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Damn that sucks man :D
I felt kinda the same, but was also like. Free money? And I might learn how to do it now rather than later, so invested cub at 700% apr I think.
Paying fees sucks! We are so spoiled here xD
I actually sent my first cubs to chrono via HE haha xD
FWIW, my plan is to never power down. At current prices, it’s not worth it. And if prices go up by any significant amount, there would be income stream possibilities for the long term.
If I sold, I would be kicking myself for a long, long time.
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Never doesn't sound good.. I mean, I can understand why people want to stake and hold on to whatever they have for a very long period of time, accumulating more and whatever.. But sooner or later, people should want to cash out. Isn't that the goal with a place like this? :D
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He can still cash out his earnings, and he can also delegate his unused Hive Power to earn more. And he can also set to follow curation trails to earn more.
Maybe he will give his account to his child. @danielvehe mentioned that he is planning to do that with his account.
Hive might come to represent generational wealth. Why sell the family business?
That's a very good point!
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I don't think I will ever turn HIVE off. I want to leave this to my son. By that time, this blockchain will be like Facebook.
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I agree with you, and I am also planning for the long term with the Hive blockchain.
wow! that is something. I am not even thinking that far yet. mostly I am pursuing financial freedom.
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I haven't thought about that either.. Not that I'm going for financial freedom, but I've started to think more and more about using some of my tokens in real life, just to minimize the risk of ending up with nothing.
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That's a really good point. I don't have kids myself so I've actually never thought about that at all.
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There is no guarantee that the price at the end of your power down will be the same or better than it is today, but it's good to have liquids in a dried up economy. You can always power back up quickly.
That is true, but if I never cash out anything, I won't make any profits either. Regardless of the price I'm cashing out at. That's why I've been thinking about a good approach for getting something out of this, meanwhile I still aim for growth of my account.
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Personally, I think you've got to at least wait for the LeoBridge to kick in and probably projectblank as well. LeoBridge could potentially burn a TON of Leo in the weeks ahead, drying up supply and fueling a run. And any Leo you power down now not only takes that potential away, but it also loses you free airdropped pointblank in the future. Seems like a double-whammy to me. That said, it's sometimes hard to remember that you don't actually make any money until you sell. It's all well and good to be a paper millionaire but, like you say, if you never sell and USE any of the money, what good is it?
For my money, I'm going to wait. I think things are finally starting to move in the right direction. I'd hate to sell at 50 cents only to watch Hive go over $1 in the next month and Leo gain mainstream attention and go to $5. But, that's MY money. You get to do whatever you want with yours.
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i try to hold as much as I can and sell when i need to, not to take profit but out of necessity. I do this full time so I have to pay myself. however, giving the prospect of these coins it seems under intuitive to sell most of what I have earned.
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Sometimes being "forced" to sell is not necessarily a bad thing. Like I said, it takes a buy AND a sell to make money. I used to work in the mortgage industry and got some stock options that went way up. I was a HODLer. I loved my company and thought it was going to continue to thrive. Unfortunately, my car died and I absolutely HAD to buy a new one. I literally had a great chance to get a year old Chevy Trailblazer fully loaded with only 13,000 miles on it for about $5,000 under book value. Just a steal. So I sold some options and bought it for cash. I then managed to find a girl to marry and had to buy a ring and pay for the majority of the wedding. I sold the rest of my stock options to pay for that. One year later my company went out of business in the housing bubble of 2006. Stock went to $0. I sold them at $44 and $56.
Moral of the story is that you can't make money if you don't sell. Always gotta remember that second part. :-)
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Lucky you! I am sure you were happy you sold. Well, I can say for myself that crypto has indeed helped me in so many ways and even if everything comes crashing down I will still be happy so way.
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That's a very good point and something I've been thinking about as well. Especially in the recent weeks as LeoFinance seems to have a couple of Aces up their sleeve, with more cool things coming up.
I understand what you mean by selling now for $0.5 just to see the price go up to $1 right after, but $0.5 is still more than $0.. That's basically why I want to figure out a good approach going forward. Powering down a certain percentage on a weekly basis, holding/cashing out a certain percentage of liquid tokens or whatever.
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Yes, having a plan and sticking to it is definitely the way to go. In the crypto world there will always be another opportunity. Read my reply to the post above (too long to write again lol ). I get the need to sell. Like I said, for MY money, I'm going to HODL for at least a few weeks. But we're talking about YOUR money. You gotta do what you gotta do.
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Finally, someone with realistic views.
The more the price is, the more your upvote value is, so it is foolish to power down at $1 USD. $1 USD is just/only the beginning.
I am planning for the long term with the Hive blockchain, so I am not planning to power down in the near future.
I think Hive is a bargain at $1, but I would reduce the risk of ending up with zero if I cashed out something on a weekly basis, even if the price is $0.5.. I don't think it's likely that Hive will crash and burn though, but it's still a risk and that would ultimately mean zero profits in such a scenario.
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I'd start by powering down all the other (less promising) tokens first. And then maybe part (maximum 25%) of Hive and Leo at the same time.
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The other "not so interesting" tokens aren't worth much at all though, so I would rather keep them in case they would eventually become worth something.. A maximum of 25% you say.. I guess that would mean that you power down 25% one time and stake until you get those 25% back again?
Rinse and repeat?
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That's an interesting approach/vision too. It's true they're not worth a lot...
My idea would be to power down 25% once and then use the money for something special/you really badly want. You might do that again later, but that wasn't my intention. I prefer hodling until things get really valuable (or 0).
I see. Yeah, it's never bad to treat yourself something nice. :)
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Power down? That seems a good idea but what about in the long term? What about in the future. If that will happen, the thousands of tokens you have in Leo will make you richer. I'm just talking for a long run even though I'm powering down here. Well, I have no choice for now because of being jobless. lol
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sometimes we need to cater for the short and long term. we don't actually tell what the future holds. it can go both ways. taking profit ocassionally or even paying yourself isn't such a bad idea...
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I do agree. Maybe at least hold a little.
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Anything can happen. If Hive would end up at $0 none of us would hold anything of value. I don't think it's likely that Hive will crash and burn though, but it can. That would result in zero profits if I never cashed out anything so I can totally see why people power down some of their stake.
There are many reasons to cash out, but there are many reasons to stake and hold as well..
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Very true, not a bad idea though. Talking about 50/50 here.
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Well, only if I have to, else I would keep both, as we shall not prove others anything.
It depends what sum is needed. I would start with Hive and keep Leo for the time being as Leo will still have some airdrop coming in.
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100%
we owe no one anything. if people do not want to believe in crypto that is on them. i sell occasionally to cover bills and I hope something that would be the case because if this ends up growing to the level some of us dream of, we will regret selling our stake
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That's very true but the "average Joe's" are more likely to be interested if they see that it works though. I mean, these Facebook and Instagram users who've never earned a single cent from their social media contributions previously are probably more likely to "try it out", if we can prove that this is what we say it is.
That's how some of my friends works at least. If things sounds too good to be true, it is. And Hive/LeoFinance etc does sound too good to be true, if you have zero experience in crypto and zero knowledge about these platforms.
Who would believe that you earned $50 for an half-assed article you put out "somewhere" on the internet.. The average Joe's doesn't believe in such "rags to riches" stories without solid proof. That's why I love the success stories we have on the blockchain. It proves that this works and that Hive actually can change peoples lives.
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So depending on the amount of money you needed, you would power down differently.. Starting with Hive.
Is the sole reason for that the airdrop coming in, or is it because LEO is worth more than Hive?
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My plan is to stake as much HIVE and LEO as I can and make a living from curation, but I think it will take me some time.
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the will be the ideal situation. That is a whale-level time of influence. it would take time. however, if these coins do a 10x that is very feasible.
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Yep, the trick is to accumulate as much LEO and HIVE now. If in the next years the tokens worth 10x times, a lot of us will achieve the whale status.
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That's a really cool idea.. I would literally never be able to achieve that goal, so it's definitely not for me. I like the long haul goal though.
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You will do fine from posting for now and after few years, you will be earning from curation without noticing.
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Personally, I would not power down at all. My dream is to be at the point where I can just take my weekly rewards and convert them into something that I can use in my real life. Keeping that Leo and Hive powered up is the gift that keeps on giving. I have to admit, the first couple of times it will be hard not to just click that powerup button like I am so familiar with, but if the rewards are worth it, I can get over that pretty quickly.
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So you want to hold your X-amount of tokens regardless of the price, just to cash out the weekly rewards? That would make you stop at X-amount of tokens though, so I guess growth wouldn't be as interesting by that time?
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Not so. Rewards are split 50/50 so half of that gets powered up immediately. The rest goes to HBD which you would keep liquid to cash out each week. For me with the size of my bags and the current price is not feasible, but if the price goes up, it could be a viable option. Of course the bigger your account the more sense it makes.
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Oh yeah, obviously. I didn't think of it like that. That's a good point.
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No worries! I might have come across more blunt than I intended. Sorry for that!
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well, i try my best not to power down and use just my liquid hive or leo to cover my weekly expenses. i have delegated most of my stake so I don't fall for the temptation of powering down most of it. I am not where I want to be yet financial so I don't want to dip my fingers too deep into my investment..
We are different and so are our expectations. so if it is good for you by all means take some profit
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Oh, that's cool. Yeah, we come from different places and we all have different expectations. At first glance, I don't think it would make much sense for me to cash out my liquid tokens, but on the other hand, everything adds up..
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for me, it's not enough so i am not powering down at all. The goal to power down is if leo/hive reach 5$ or if i reach $25k :P
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In it to win it. :)
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I am powering down HIVE for a long time, but never did that with LEO. Was thinking to do a powerdown and buy myself a car, but I felt it's too soon to do that. It's a personal choice after all and I don't think there is a perfect strategy.
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I've started to feel this as well, which is more or less the reason for this post. Just to hear peoples opinions about this.
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It's good to open up to external views, but it's all entirely on you after all.
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That is very true!
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I won't be Powering down. That is my future income at $10.
What I will do is use my stake to earn more tokens and live from them. It won't be earlier than five dollars I think as that is where I am looking to leave the job and live from earnings.
Sounds like a solid plan. :)
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I think you answered your own question. If you think the prices are still a bargain then it is not the time to cash out.
That's a good point, but that's also based upon my own personal experience and what I think of Hive.. I might be wrong and without cashing out a single token, I also risk it all in the long haul. Even though I don't think it's likely that Hive will crash and burn, it can still happen.
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I'm trying to imagine what reason could bring me to such dilemmas. Power down...cash out....
No, no way. I have not even smallest temptation to do this now
It's hard to give a suggestions, every people have their own priorities and needs.
But....
If you can wait, at least some 4-5 month - I think you may end up with a lot more profits and self satisfaction.
Just my 2 cents.
P.S.
I'm siting at 623500 staked LEO, 335K LEO on UNI LP and ~210K HP.
Targets: 1M Leo combined and 300K HP
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That's why you're the real beast.. :)
Seriously though, I have no idea of how much money you have invested and what you have done- and what you continue to do with your stake for the community is wonderful and amazing at the same time. I appreciate all your efforts and I am very thankful for the support.
That being said, if I were to invest say $500K, I would obviously want to have a nice return. While $1 million might not be good enough for some people based on such a large investment, I personally think that it would have been literally the "sweet spot" for me to cash out, just to make sure that I got my initial investment back.
So I would've cashed out $500K if my tokens were worth $1 million, if I had invested $500K. While it's rather easy for me to come to this conclusion when we're talking about large amounts of money, it's not as easy when we're talking just a fraction of those amounts..
It doesn't really seem "worth it" to cash out a few hundred dollars when I know how much potential there is, but I would also want to play it "a bit more safe" so to speak, just so that I wouldn't risk it all..
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ohh, forgot to mention another 335K Leo on Uniswap LP.
And you know what, I feel more safe with my crypto part, than I do with my FIAT part.
Cash is TRASH.
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Haha, okay.. Well, like I said. That's why you are the beast. :D
I can totally understand your feelings towards crypto and FIAT though. That's a good point.
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People aren't as long-sighted as you - they think that treating themselves to a lollipop is worth it.
4-5 months? You are crazy - I want my lollipop now! ....
Some people will always be employees, no matter how many times they are handed the opportunity to be an owner.
I've powered down in the past and regretted it.
On the other hand, just power down a little, hold it in Hive in the wallet, and sell if the price goes above $1 and that way you have cashed out a bit.