2023 turned out to be a bit of a nothing year really for myself in the Crypto world. Just plodded along, cashed out bits and pieces here and there to fiat to sustain my fiat finances, and generally made little progress. Didn't really have major goals here so didn't really make much progress, is how it feels.
Anyway, this year I've decided to join in the Saturday Savers Club run by the @eddie-earner account. How it works is all in the post linked above, but basically, you set a primary and a secondary goal, and then keep track each week.
2024 Goal 1: 2000 $EDSD
EDSD is a new way (and final way) to mint EDS tokens, just launched in the last couple of days. Basically, you send HBD, and receive EDSD in return. The HBD gets put in savings by the @eds-d wallet. Each week, half of the yield goes to EDSD holders as newly minted EDS, and the other half gets turned in to HIVE Power in the EDS wallet.
It may seem weird to accept 10% yield on HBD through this, when 20% yield is available just by saving the HBD yourself. However, there are two reasons that would make someone happy to forego the short term rewards.
First, EDS are not easy to come by, and mostly trade on the secondary market well above the 1 Hive notional price. This improves the return, and makes the hit to your yield a lot lower than it first looks.
Secondly, for holders of EDS tokens, this setup actually speeds up progress to the "EDS flippening", a time when the EDS APR halts its (very slow) decline, and then starts to increase. Once the flippening happens, there is no going back. EDS APR increases forever. Helping EDS get to that flippening point ASAP should be the goal of all holders of a meaningful amount of EDS, and both the @eds-vote project and the @eds-d set up speed up progress towards flippening. So it is in our interest as EDS holders to forego short term gains, for the potentially much bigger long term view.
You can read the launch post for $EDSD for yourself to see how it works:
@eddie-earner/eds-dollar-edsd-release-post-or-last-ever-eds-distribution-token
My goal for 2024 is to accumulate 2000 EDSD.
To achieve this, I need to save almost 40 HBD per week (38.5 to be exact), over the full year. Not easy, but not out of the question. I have a little head start, as I earn 10 HBD each week for managing a wallet for the @spinvest project. Finding the other 28.5 each week will be motivation to get back to being more active posting, as the beauty of Hive is that saving for goals can be aided by earning from content, rather than having to buy in with other funds. I had a very poor year in 2023 with regard to regular posting, and setting this goal has been done with that in mind.
2024 Goal 2: 10,000 Hive Power.
Currently sitting on 4,300 HP, my goal for this year to is get back to having over 10,000 HP. During the last bull market, I had a lot more HIVE than I do currently, having almost hit 20,000 at my peak. Then the real world intervened, and I powered down and sold the majority, mainly to fiat to cover rough times in my fiat finances. Crypto saved my family from financial difficulties in a big way, however I set myself back years of progress during months of unemployment.
No matter, things are more stable now, and rebuilding my HIVE power is my secondary goal for this year. It'll take 109 HP per week across the year to achieve the 10K goal.
Just did a 200 HIVE power up to start the year off right, and get my first #HPUD in for a while.
So there you go, my 2 main Hive goals for the year. I have others, with growing my LEO power, and continuing to build my Hive Income Portfolio wallet being the main ones. You can see what I'm doing with that in this post:
@jk6276/update-on-the-hive-income-portfolio
Basically, it is where all the DAB, EDS and other income tokens I can accumulate end up - being held for long term passive Hive income.
Anyway, I hope you all have a wonderful 2024, set and achieve some goals and build your future, one little target and milestone at a time. I'll be active amongst the #saturdaysavers club, and see you all around.
Thanks for reading,
JK.