It has been a good week, as we have some new members "signing up."
on L1X Assistant on LayerOneX's server on Discord
I can imagine how encouraging that must be to the OG members of the Saturday Savers Club.
May our tribe increase!
Onward and upward! Into my weekly update ...
Weekly Update
So far, so good. I have been blessed by a better reception for my travel-related posts than I had anticipated.
Source: @roleerob's spreadsheet for tracking 2024 progress
Definitely a nice "bump" from last week's travel-related post payout! 👍
I've been "in here" too long, though, to not know how this can change very quickly. Having just received my first downvote, by one famous for them ...
As the "stablish" token of our Hive blockchain, saving HBD with its 20% APR (read @gadrian's recent and informative post on this topic) is self-explanatory. For now ...
If you are wondering why it is one of my savings goals and you would like to learn more about EDSD, here you go (click on image) ...
Source: Weekly EDSD Update posts on @eddie-earner account
Weekly Focus
Where am I going to "draw the line" between deciding to resume some investing here on our Hive blockchain and the rest of the ... "cryptosphere" ... where I spend the bulk of my time these days (and have for a long time)?
"Gotta know where I am going, so I will know it, once I have arrived!"
Examples always help:
Source: Stable coin Yield Farm APRs on SparkSwap, on PulseChain, on 2 Feb 2024
Why would I put $$s into HDB and Hive blockchain L2 tokens, with their very limited liquidity (by comparison) and associated risks, when there are options like this ... "outside?"
In a word ...
I wouldn't ... I won't ... As I have always consistently and clearly stated, I am an investor first and foremost (otherwise, we would have never "met") and that would, therefore, just be foolish.
Yes ... Well ... Hold on. In my SSC introductory post, I said I was "in here" to help others. With examples, etc. And that is what I have done since (yes, I am well aware I am only on Week 3 ...).
Having given my word and made a commitment, I will follow through. I just need to be clearer in deciding where to ... "draw the line."
Weekly Tip
Saving money is investing money, right? In a word ... No. At least not today ... Look at the interest rate in your TradFi (tradional finance) account and compare it to the rate of inflation where you live.
You are not "getting rich slowly!" You have only slowed down the rate at which your hard-earned money is losing its purchasing power.
So ... Points to consider:
Saving $$s => Investing $$s => "It takes money to make money" ...
Key concepts: Power of compound interest! <=> Money goes where treated best!
Fiat steadily eroding in value / purchasing power => Along with privacy ... => Combine and learn about DeFi investment opportunities, e.g. as shown in example above.
With your weekly progress,
begin thinking about
investing!
begin thinking about
investing!
There is a lot to learn! No time like the present, right? You may find it the very motivation you need to "keep on keeping on" with your savings efforts.
Get started and put the incredible yet simple compounding power of the passage of time to "work" for you. The sooner the better!
Your "future self"
will thank you
someday!
will thank you
someday!
What a world we live in today! While I will not get into details, to protect my privacy, I am finishing this up and publishing in far from ideal circumstances. That said, I can still do it (since you are reading this ... 😉), due to the marvel of our technological advances.
I’d love to hear any feedback you may be inspired to provide. Or, if I can help you with anything, please don't hesitate to ask.
Until "next time," all the best to you for a better tomorrow, as we all work together to build up our Hive Communities and add increasing value to our Hive blockchain! 👍 😊
Respectfully,
Blogger @roleerob
Hive "Dolphin" 🐬 & Man Cave "Dragon" 🐉
P.S. I am not a financial adviser. Please consider this post as financial information and / or opinion only. Please perform your own due diligence, in whatever manner seems best to you, if you have found it to be beneficial.
🌲 No trees were harmed in the publishing of this post! 🌲
2024: FAQs • 2024: Savings Options • Hive Channel • Discord Server
as part of the SPInvest family.
Saturday Savers Club's 2024 Launch and FAQs post.
My SSC Introduction & Objectives post.