Hi fellow Hiveians,
Today I wanted to talk about how I plan to keep my assets here in the ecosystem long term!
Treating Hive Like an IRA
I wanted to chat a little bit today about the mindset that I'd like to keep for an environment like Hive and the digital assets associated with it. I would love to treat it like an IRA, meaning you can't touch it for many years!
I know many of us here on the Hive platform are interested in the long term benefits of the platform however there are always occasions where we need to make some withdrawals on these types of things because life unfortunately happens. For me though, one of the things that I want to make sure that I try to do is ensure that I only add to and build my stake on here and not take any dividends or withdrawals from it for many years, hopefully decades!
There can definitely be a lot of things to be said for those that will sit on an asset and only attempt to let it appreciate instead of taking some gains off the tops where you can. For me, I am well aware of that and I am positioning myself to be able to do that however only on an internal basis. I want to only trade within the Hive ecosystem and keep things on the internal market for when I see spikes or dips in the various price points. That allows me to take advantage of some swing trades and buy things when they are low and sell things when they are high to then catch it on the downward end of it, where I can make a little bit of profit off it.
The profits off it though are not like some others, in that I fully plan on reinvesting the profits that I make off the platform right back into it in the form of staked Hive Power. This allows me to have greater governance weight and of course increases curation and vote strength for posts that I happen to visit. These are all certainly benefits for me as well as the people around me.
Where I think that it's going to be interesting and important is that as time goes on and cryptocurrency evolves and digital assets become more prevalent in society as a whole, people are going to be making their way around exploring and trying to find niches and communities that they enjoy and fit in. Hive is positioned very well in that regard, where we will be continually adding many features and benefits to the ecosystem that will not only benefit new users but it will benefit people who have been here for a while, some since the beginning. I don't fall into that beginning category but I can hardly believe that it's been 5 years since I joined the platform! Damn that's a long ass time and crap does it go by quickly LOL
For my concept of the Investment Retirement Account (IRA) though, one of the things if you are not familiar with how the American system operates is that you put money into these accounts and are incentivized to start adding money into them early in your life so that you could potentially gain some good values to that account as time goes on, the more the assets mature and theoretically go up in price. That sounds all well and good but there is a biiiiiiig caveat to that! You cannot withdraw any money from that account until you are 59 and a half years old without paying significant penalties. That is a pretty big caveat but for me, that's okay because sadly it's not as far off as one would like to think..
In the same notion, I want to aspire to do something similar with the Hive assets here. I want to strive to constantly be adding to the stake I have here but not withdraw any until I'm 59 and a half. I know that there are no technical limitations from me doing that and getting big penalties but it's more of a mental thing. If I do not allow myself to withdraw any of the assets here, we could theoretically say that they will continue to go up in value which is a good thing. The value in the future may not be so straight forward as it is today, where things are measured in US dollars. What could we be measuring it in 10 years time? Would we be measuring it in Satoshi? Hive itself? Who knows! But the importance of the Hive asset in the various forms, staked Hive Power, HBD and liquid Hive will become, in my opinion, a greater "value" in relative terms. I see it as putting funds into the account as a young man and watching it mature over time and grow into something that has pretty significant value in the long run.
There is also the risk that the whole thing goes to shit and we are left with just a bunch of people hanging out, chatting and commenting on things internally to ourselves. That is a possibility as well but I don't think that will likely be the case. With the importance of decentralization and how complicated that can be to achieve, we are doing a pretty great job in my opinion and this will become a cornerstone of many people and their experience in the digital world in the future. That's why I plan on treating it like an IRA where I am always adding to it as much as I can, without taking anything away from it that is not an internal reinvestment.
Hive for the win!
-CmplXty. Real human written content, never AI.
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