Orca Of All Trades, Whale Of None
Image SourceBlubber In The Game
Welcome to the thoughts of a "casual dabbler"! I'm someone who dabbles in different projects and if I like the look of them I'll tend to get involved and get some skin, or blubber, in the game! In the crypto world, we have the terminologies related to marine life which are cleverly used on HIVE with gamification of staking by getting to certain levels such as minnow, dolphin, orca and whale.
Over the last week or so, I've been diving in to the calculations to figure out how much of each token or coin you need to have staked to reach certain levels like with LEO. Call it a gamer's obsession but for me, I find it easier to stay motivated if I have a rank to aim for and I have settled on the fact that Orca is the benchmark for me. If I get to this level of stake, I'm pretty happy as the jump up to whale is frankly ginormous!
Having said that, if I reach Bitcoin orca of 2,439 BTC, then we're laughing but even I'm not that deluded! I'll be happy with BTC redfish (2.439 BTC) barring a lottery win! I'm mostly talking about staked Hive and Hive-Engine tokens here.
You Can Have Your Stake And Eat It
The beauty of orca levels of stake is the decent-enough compound interest you get just from having it passively sitting there. As I've grown my HIVE stake over the last 2.5+ years, I have noticed the amount growing bigger with each day vs when I had say 100 HP in the first few months as a fledgling happy-go-lucky HIVE tadpole!
A combination of buying at the low points, like we have now (and just seen today that it's dipped below 600 sats on Huobi), leasing/delegating out to curation guilds so they can put it to use and keep on posting whatever I can and hope it passes for some interesting read and gets some post rewards all contributed. Yes, I got a bit lucky with the creation of HIVE which helped accelerate a bit more but I still wanted to get to Orca before the end of the year.
Has My Finance Mindset Changed?
100% yes. When I first started out here and indeed with crypto, I had no concept of investing at all. Sure, I'd be a good saver for "rainy day" funds but the savings never really got to work because interest rates in the UK have been pretty dismal ever since 2008. Nearly 3 years in to crypto, I'm finding myself thinking more seriously about what I'm spending my income on and investing, getting passive returns from staking and building a pot that I can hopefully use to bring forward my retirement even if it's just by a few years.
You know what I'm going to say don't you...? Spreadsheets!! There a templates out there that you can use if you wanted but I made my own because I'm like that 😎 I can't tell you much of a wake up call this was to see where I was hemorrhaging funds and managed to nip a few of those expenditures in the bud and pop them in to things that might grow such as BTC, HIVE and other investment vehicles. Credit? No no no! Not if you can help it!
I had a conversation with my friends about budgeting (for better or for worse) and asked how they did it as some were going to buy a house or make renovations. They said, "we just look in our bank account and see if we have enough". I was like, "Don't you use a spreadsheet or something to see what you can afford?" They said, "Hell no, I'd rather not see that! I'd probably have a heart attack". I ended the conversation as that seemed to be a massive contradiction but they were having a BBQ at the time so didn't want them to poison my sausages!
In any case, safe to say that my spreadsheet which has the income/outgoings on will be used to see how I can start maximising the sats train and where the passive stake I've got going now all adds to the overall pot, particularly now there has been a 37% increase in BTC in the last 30 days (from £8,156 - £11,487)! Time to put sats to cells!
How about you? Do you have a level you're aiming for? Has your attitude to finance changed since getting in to crypto? Let me know in the comments below!
Nicky
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LOL financial ignorance doesn’t make money problems go away I’m always scared I am doing it wrong when I see so many people buying home and cars and holidays and I think how? I legit never have enough money to invest
I look at every penny and try to see how I can turn it into two! It’s an obsession I know I’ll never be able to work my way to wealth so I need to use what I can to bridge the gap
I have a broker that also manages some of my money but he hasn’t done as well as I have done on my own with crypto lol
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Haha, exactly! If I can't see it, it isn't there! I know how you feel though as I'm the same - no idea how my friends can afford a place in the south east but then I realised that I've actually put a lot of my money in to Bitcoin and crypto so it starts to make sense lol! Probably will have to do some shared ownership scheme or something if I was to get "my own" place, then buy the rest back once BTC is financing me on auto. Good news with that is you'll have a place to stay when you visit!
Sitting with the window open now, I can hear all these fireworks going off for Guy Fawkes night here and am thinking of how many sats are literally blowing up in smoke and gunpowder... man, I feel for these guys! No way I'll be buying fireworks unless it's sats on a rocket to the moon!
Harnessing the power of crypto and being your own broker, that's high roller shit right there
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My cousin just bought a Mercedes and I’m like how? Is there something I’m missing where does all this Magic’s money come from? The banks have been on my ass lately about trying to give me more credit or take out loans and I’m like nope I’m fine with the cash I have
If you want to give me crypto I’ll take it, I have no desire to get more fiat or have to pay it back
Lol they also going nuts here with the fire works and it’s not as if we got cash to spare in a country like ours but somehow they find cash to blow up
If this does pop off and I do strike it big I am sure because I am so vocal ab our BTC I’ll get so many people wanting to know what’s my secret sauce and I’ll jusy be like it’s all on the HIVE chain read my blog I document it all on there
Wow, a Merc... those don't come cheap! Ah yes, the "good news, we've increased your allowance" letter/email? Not falling for that one! Credit is a disaster!
Haha, yeah you've pretty much got a journal here so they can just read them and see! I have got some ledgers spare from the family pack that I may offer out but they won't be pre-loaded son, you got to learn-and-earn to put on that! Thinking of revamping my guides to Bitcoin again and have an evergreen list of blogs so I can just point people towards it and say "read, learn, stack"
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Arsene Wenger will be proud
LOL I learn from the master, let them call you crazy, I rather look poor but know I am rich, well hopefully one day I will be and not only look and bee poor !BEER
Amen to that brother. Trying to be rich, rather than look rich.
View or trade
BEER.Hey @belemo, here is a little bit of
BEERfrom @chekohler for you. Enjoy it!Learn how to earn FREE BEER each day by staking your
BEER.For now, I'm heading to Dolphin on hive. Dolphin on Leo was easy because of the limited supply, what does your spread sheet say about how many Leo power one needs to achieve orca?
Hive has given me plenty financial education. It has been organic and since it is gamified, it feels like I'm just having fun as I click around my screen looking for tokens to buy, stake etc.
Dolphin is a fun level to be on mate, hoping you get there soon! According to my updated calculations now (as new tokens have been added to both HIVE and LEO supply since I began the spreadsheet last week), you need 782 LP to be Leo Orca. I'm currently just under 500 so still work to do but seeing as I had 0 pretty much at the beginning of October, I'm pretty happy with that!
I 100% agree with you too about the financial education with HIVE. Just by playing around with the wallet, learning, figuring things out and doing a bit of reading around, it opened up my mind to the possibilities here! Like you say, I love the gamification of it and it feels like great fun whilst also providing some earning/investment potential for doing what I used to do every day on fakebook or shitter! Gotta love it!
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Oh. I have like 2K leo Power, damn,I'm a big deal 😄.
Haha, yeah man, big time Orca on the LP here! 7,825 or so to get to whale for you, that will be pretty legit! The beauty is, you're having fun and didn't even realise! Wonder if they'll have badges for ranks here on LEO...?
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You know, hidden in this is another issue: attitudes to money and things as well as a long term view. Mine on all of these has shifted over the years. Some people must keep up with the Joneses. Sadly. That often dictates everything. When I had my business and was, by comparison, coining it, spreadsheets were one of my essential tools...quotes, projected income, project planning and management as well as... believe it or not...!
I guess I should revisit those old practices!
Yeah I know what you mean and another example I see this with is the way people approach weddings in the "village". It seems that it's not so much about getting married which is a special event in itself but splashing out tens of thousands to put on an event because you need to keep up with others. Oh those societal pressures hey!
And you mock me for my spreadsheet prowess! Here you are, sheeting it up behind the scenes! They are an essential tool and once you get in to them, can be quite fun to play around with as well!
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Thanks for continuing to make Hive awesome.
I'm utterly confused by this. I can't understand the logic behind any of this. Maybe that's what it is. They act without logic and ends up in bad situation and they start blaming the world for it.
I'm happy that you are doing well for yourself. Have a great day :)
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Haha, you are not the only confused by this but yet, I'm the weird one for not wanting to spend more than I actually have! I've not been a fan of credit cards and borrowing, it opens up the doors for poor financial behaviours and then a dangerous game of forever being in debt.
I'm getting by but always looking for ways to improve, the spreadsheet really is helping haha! Thanks for stopping by mate, have a great weekend hey!
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I actually love credit cards. They can almost become an income stream if your expenses are high enough. I'm nowhere near that level. But the points and cashback are super awesome :)
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Aha, yeah ok with rewards and benefits like that, they can be good as long as you are able to pay them off I guess. I just hate having to owe someone something, more so the bank because they'll quickly take money away from you like late payment fees but if they owe you something, well... good luck with that haha! Cashback is good though, think I made a tenner last year - not going to turn down some extra sats haha!
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Some cards like Crypto.com Black card have some insane levels of cashback. Too bad I have to stake 100 times my net worth to get those sweet deals: https://crypto.com/en/cards.html
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Thanks for the tip about crypto.com, looks like another site I'm going to have to dive into and have seen it around - 8% cashback Holy shheeeeee!!! That's bookmarked for some perusing tomorrow, I don't really spend much other than on Bitcoin at the moment haha! Cashback on buying BTC? That would be incredible!
Crypto.com card is accepted basically anywhere that accept VISA. You can just use it for everyday purchases.
Nice one, I'll have a look in to it 😃
I started out in crypto blogging as a stay at home mom just wanting to post whatever it is on my mind, not thinking about the many ways to earn (and invest) in the crypto world. That mindset has changed over time, very gradually though as I'm a scaredy-cat when it comes to money matters. I was just afraid to lose money, that's all. But after learning more and more about financial literacy, and crypto, I am slowly easing into the investing aspect of crypto blogging. And I mean really slowly. Just testing the waters at first, (I'm still at that point, actually) but I have a feeling that I may get hooked into looking at those charts, tracking my crypto buys (through a spreadsheet - been doing that by the way with my household budgeting.) Still not sure if I'm doing things correctly, but one thing's for sure, I am learning. Slowly but surely.
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That's exactly how I started with blogging, just sharing my music really, no clue what to do with the finance part of it but over time and exposure to it all, you get into it more and dip your toes in... then you get to your knees, then somehow you're swimming!
It sounds like you have learned a lot and applying some good practices with the spreadsheets and portfolio tracking! There's a great app you can use to track crypto portfolio called "Blockfolio", I've used this from day 1 and it's been really helpful to keep on track of every purchase I've made in crypto, profit, losses etc!
Take your time with learning finances, it's a long learning curve but you've got this! Thanks for stopping by and sharing your journey!
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Short Answer: yes a huge change in the way I look at finances
When I first joined up the aim was to get to get to a certain level (approx £500 worth) and then take money out to spend in the 'real' world. Slowly I realised that the longer I kept hold of Hive, the more I would earn, and the more I earned the faster I would grow.
So now I'm aiming for Dolphin level in Hive, for no real reason other than it keeps me motivated to keep posting/delegating to grow the account. Once I get there I create a new target (10K HP, 15K HP etc)
That was the first change, to go from cashing out at the first opportunity to now saving and increasing my stake,
The next change was actually considering Bitcoin itself. The nature of Hive means a lot of crypto posts. At first i thought it was boring, and then when I tried reading them I just found it weird.
A few weeks later, not only do I actually own bitcoin (all $110 worth of it) but I am now investing in it via a Blockfi interest account. I have had the blockfi account for 2 weeks and have earned approx $0.16 in interest. That may sound small but it is infinitely better than what I could get from a 'proper' Bank Saving Account.
Bank Account has interest rate of 0.01%, Blockfi has 6% interest rate. Thats an improvement of 600%, it boggles the mind!
I am now at the point of considering cancelling one of my pension schemes and putting the money to use in Bitcoin instead, it may well be a better investment.
Haha, it sounds like we have pretty much been on the same journey when we started out! I was aiming to get to just minnow and then see if I could just earn a side income by being on HIVE but you said it, the more HP, the you earn so ended up not cashing anything out and grew the whole time I've been here!
Once you get to those goals, you create new ones and the gamification is something that I really like and have something to aim for, sounds like you're of a similar mindset too, which is great for motivation! You'll find that you'll get to those goals quicker as well as the HP increases so keep at it!
Aha, you're in the deep exploration stages now of the crypto industry! I've heard of Blockfi, not got an account there yet as I went for Celsius and Luno at the moment but I have to say, I'm enjoying the interest rate on these apps considering we're so used to dog shit interest rates in the UK!
I'm with you man... 0.01%, soon to be negative the way the Bank of England is pressuring high street banks to go that way so I'm also wondering if I should withdraw my savings now and put them in these CeFi options! I prefer the low stress, dollar cost average approach and have set up automatic weekly (and now daily) BTC purchases which I put in to the CeFi accounts to earn a bit of interest on. It kind of mitigates the fluctuations and don't have to keep an eye on the charts/portfolio so much (although that temptation is really difficult to prevent sometimes)!
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