I’ve been on Hive blockchain for so many years and one thing I realize is that most whales or people that are very close to being a whale do something outside of Hive. I know it is very simple logic, you cannot have that much stake without having something else you are doing, the truth is the easiest way to build something that will last or to put yourself in a good position is having cashflow not from one source because the main reason why most people find the difficult to grow their Hive account is because they don’t have the cash flow and most time people depend on Hive for survival.
some people tell you that you don’t need different sources of income, but it is wise to have one income not only because you will protect yourself from attack, but also because you are trying to be able to manage your resources well. when you depend so much on something, you might not be able to know how much you spend in your money and this is not a good way to spend money. Imagine selling hive at the current price, You might be justifying it in your mind that you need some funds to sort yourself but selling at this price is bad because, in the long run, you have lost more money. truth is why depends so much on something. It will be very hard for you to control on expected circumstances.
It doesn't have to be bad
Some unexpected circumstances don’t have to look bad but they can destroy or retard our growth and that is what happening on Hive now, most people know it is time to accumulate but when you depend so much on the system, it will be very difficult for you to buy at the present moment because you will always need funds and you’ll be selling your hard earn hive at Cheap price instead of keeping them till when the price is better. it is easy for you to say you are not selling, but unexpected situations will always make you change your mind.
you can only change your mind not to get what you want, but it will be very difficult for you to change your mind about what you need. when you have two sources of income or multiple sources of income, It will be very easy for you to make the right decisions, because sometimes you might know the right decisions, but you can’t make them because of the situation you find yourself in. most of the people that I know selling hive now are people that are in financial crisis and need funds badly or people that want to exit the chain, but we can do better for ourselves by creating more building income or learning a skill.
Build it
one common mistake that people make when it comes to money is they get comfortable when they start making from one source because they think it will always be like that but sometimes things change not only we are putting ourselves at risk but we might not be able to maximize that source to his full potential and eat the profit instead of growing it. instead of depending on one income, we can learn skills or build another source of income that we put relief on the one we depend on so much.
it is difficult not to eat your profit early and also difficult to grow your profit when you don’t have multiple sources of income in anything you do in life. there are times that what will do may not be working well and we know that we need to put more effort into building it to make it better because we depend so much on it, it will be very difficult to do this even when we know the truth. it is better to have a plan and work towards having multiple sources of income for a better future so that you can put yourself in a place where you are not always eating your profit.
Thanks for your time.