How has crypto and blockchain impacted my personal finance?

in LeoFinance2 months ago (edited)

I have seen a few people posting in response to this initiative by @theycallmedan. I have not actually posted from LeoFinance before, so this is an opportunity to try it. It appears to be using the @peakd codebase as it looks very similar. I tend to just use Peakd, but there may be reasons to use other dapps for specific purposes.

I do not know exactly when I became aware of cryptocurrency, but I expect I saw some articles about Bitcoin. I know I looked into the technology as that interested me more than the money side.

I have never been that interested in investing. I have various savings, but most will not pay me huge amounts. I pay into a stocks and shares ISA (tax free individual savings account). I have owned some shares for companies I have worked for and been able to sell some for a small profit, but that is the extent of my share dealing.

I did get interested in the idea of earning something online around 2013. I was never going to make anything from things like Youtube and blogs I had did not have any advertising as I had too few readers to be interesting.

I played around with crypto faucets, but only made tiny amounts as they are not going to just give away substantial funds. You might have a chance of doing better via referral schemes they run.

Somehow I discovered Tsu which paid users a share of their advertising revenue. That was a fun social experiment with some similarities to the Hive community and some of those people are here now. Tsu folded when their investors pulled out, but someone seems to be starting it up again.

Painting bought with Tsu

I made a couple of hundred dollars there and spent some on small items as well as giving to charities. When it shut down @the-bitcoin-dood told me about Steemit. I was a little reluctant as I was a little burnt out by then, but tried it anyway and got hooked. Over four years later I am still here.

The impact of all this on my personal finances has not been huge. I used what I made on faucets to buy a little STEEM as I was making very little in the early days. Many posts would not pay me anything at all whilst I could see others making thousands on a post. That was a little frustrating, but I was enjoying the social side.

From the start I could see the potential of this platform to empower people who are shut out of other financial systems. You could potentially earn with no financial investment. I am fortunate to not be desperate for money, but the possibility of extra income was attractive.

In September 2017 I took out 1600 STEEM when the price was about $1.35 to pay for my ticket to Steemfest 2 and to buy myself a nice guitar. That was about 15% of what I had earned by then. I consider it money well spent as I got a lot from both purchases. Steemfest made me even more of a fan after meeting all those people.

Me and some random guy

In early 2018 the price spiked and my stake was worth almost $100k! I resisted the temptation to power down, but it would have been worth a lot less by the time I had it anyway.

A year later I took about about another 1000 STEEM (price around $1) to get me to Steemfest 3, which was another cool experience.

Souvenirs

Since then I have made a few other withdrawals to buy comics and various things from other users, but I think it is over a year since I took any out. When Hive forked from Steem I powered down my STEEM and mostly bought HIVE with it. That put me on the road to being an orca. I have bought a few hundred HIVE this year for HPUD events and other excuses.

With the commitments I have I cannot throw lots of money at crypto. I have missed some opportunities, but I am still content. I do not lust after great wealth or luxury items. My most substantial crypto holding is in HIVE with nearly $8000 plus some LEO and other Hive Engine tokens plus the cards in various dapps. The value of those is only relevant if I want to sell them and I have no need to do that for now.

There were times when I was making $200 per week on Steem that I thought I could take some out each month to treat myself, but it would not be worth it now. I still hope that at some point the price will recover and I will be able to use some of what I make to treat the family. I have not managed to get them interested in participating themselves. They are not particularly money-driven either. I am just a little obsessive about technology and the potential of social media. That is what keeps me coming back.

I am happy to answer question about my blockchain experience. I want to see others do well from it.

Hive five!

Please comment via LeoFinance. I will be looking out for those who do.

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Your history gives me hope. =)

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I miss Tsu! I had such a fun time on there and met so many great people. I think HIVE is starting to get a similar "vibe" to it. The move has made the community a lot stronger and closer.

Being into the technology and the impact this can have on social media is a reason I never get overly obsessed with HIVE price. I was just going through this thread and it's incredible how HIVE has impacted so many lives. I'm actually super bullish on HIVE the platform and what it's doing for a lot of people that are getting involved now.

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You are right about the vibe. It doesn't matter that there is no company behind Hive as the community will do things themselves. I know others have benefited a lot more than me from it. I have nothing against them taking money out if they need to pay bills. Just holding is not so interesting.

I hope the next year will be good for Hive. We have the pieces all set up and just need to get into the game.

!ENGAGE 20

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Thank you for your engagement on this post, you have recieved ENGAGE tokens.

That is a really great story. I have heard parts of it before, but it is nice to see it all concise an in one place. I really respect and appreciate your attitude towards the whole crypto-scape. I think we need more people that are interested in the investment and not the short term riches. I'd like to be able to take a little out someday and do something really nice for my wife.

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I don't think anyone should be made to feel bad about taking HIVE out. If you need it or it makes you happy then go for it. I expect most would like to see the price a bit higher before they do. Meanwhile we have to do what we can to make Hive a good place to be for all.

!ENGAGE 20

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Thank you for your engagement on this post, you have recieved ENGAGE tokens.

That's a good story Steve. I like that you have a balance between hodling and getting a return.

I'm not money driven much, either. I mean I'd like to be able to buy more gas and tires for my motorcycles but...

Like you, I'm having fun. A great philosopher once said "If you aren't having fun, what are you doing it for?"

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If Hive suddenly went away I would be sad, but life would go on. It's largely social for me and I would hate to lose contact with all these people. I've had that happen with other platforms, but I hope Hive can be more resilient.

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That was a great read, and that photo of you with Ned is priceless, I've never seen that before.

How times have changed!

I hope you stick around, you're a legend of the chain as far as I'm concerned - just blogging and interacting away and not at all concerned about the money.

It is addictive here, I can't do without my daily post and read around.

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I've got a lot of memories of various events with this community. That is worth something to me.

I'm not going anywhere. This is where a lot of my friends are and I'm having fun.

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What an awesome story and great to see that steem paid for your steem fest that's freaking awesome. I only wish I was able to attend one the vibe looked epic from what I saw in the videos

Here's to more years of profiting from this crazy digital gold rush

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Are you coming to virtual @Hivefest? Maybe we can meet there.

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I would like to, I have yet to set up the whole thing I am lazy lol

Get it done! You have a few weeks yet.

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Obviously you were one of the few persons who made good money blogging on Steemit. I am happy for you and especially with the good thing you did with your investment, although I wish you had done some cash outs at the peak. Well, I wish you all the best ahead of the forthcoming run. Cheers!

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Others made a lot more than me. I did not buy votes and worked hard for what I got. Steem did distribute a lot of rewards, but it was never 'fair'. I do not regret the money I didn't take out too much. No point getting upset about that. I am still excited about what Hive can be.

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Others made a lot more than me. I did not buy votes and worked hard for what I got. Steem did distribute a lot of rewards, but it was never 'fair'. I do not regret the money I didn't take out too much. No point getting upset about that. I am still excited about what Hive can be.

I'm glad to read about your optimism for the future. I'm also very much excited about what Hive is capable of becoming too.

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the cool thing ofcourse is that crypto paid for those trips for you and I also found my two steemfests very inspiring on the blockchain journey. I think if you can take out something every now and then and the amount that stays is still good, then you are doing good actually.

but damn..100K? that is a life changing event man

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I am so glad I went to Steemfest. I just couldn't justify the cost from family finances. The money is all virtual until you do something with it and you should if you need it. Now I don't need the price to go so high to be worth $100k :)

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"I am just a little obsessive about technology and the potential of social media"

That is exactly how I feel.

You did get some enjoyment from your earnings, that is good. Cool to see a pic with you and Ned, many may hate him, but he is a big reason why there was even a steem and now a hive.

First time posting via LEO myself, I should actually try this initiative out. I started out on steem writing about crypto projects.

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It was exciting at the time to meet Ned, but he was not really interested in talking to me. He seemed to just hang out with the big players. I would be more into talking to Dan.

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wow what a journey! you went to Steefests you bought a couple of things, quite awesome! i remember you since steemit, i think i followed you there! it's to see you in Hive and now Leo as well!

In early 2018 the price spiked and my stake was worth almost $100k! I resisted the temptation to power down

wowowow! To tell you the truth i should powerdown most of my stake back then. In total i had about 20k and i powerdown just 2/20 in order words 2k. The good thing is as i state in my post that i fulfilled 2 of my dreams with these money, to visit China and New York!

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That's great that you could enjoy your rewards. Too many people put that off in case they can make more later.

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Your story is inspiring.

Hive Five🖐