While reading a post by @hetty-rowan, I was inspired with an idea for this blog post. It got my gears turning to answer a question, how could I afford to save $1000 for a vacation? This is because @hetty-rowan was pondering how to save 1000 Euro for the same purpose.
For me, this seems like a reasonable goal. My job provides me with the ability to travel to conferences and training. As a result, I have been able to accumulate airline miles and hotel points. With those points, I can often pay for lodging and travel for my family. Therefore, when it comes time to take vacation with my family, $1000 goes a long way without having to pay cash for hotel rooms. It is a reasonable goal.
The more direct way of saving up $1000 for me would be to put money aside until I have $1000. Boom. Done.
The indirect way would be to charge things to a credit card, then pay that off over time. It's like saving the money, except that it's in reverse, paying down instead.
I think the better way to save up $1000 is the long way around, which is possible thanks to crypto. For example, let's say that I can get a 16% return on my deposit of crypto. Hive, for example, currently has leases paying 16% returns. How much would I need to lease to generate $1000?
The math is simple. Let's divide $1000 by 0.16, which gives us $6,250. So, we would need $6,250 in Hive, which is roughly 26,000 Hive Power. This would generate about 4,200 Hive each year, which is roughly $1000 at today's prices.
Crypto.com currently has stablecoins that pay 12% interest. It would require a little bit more than $6250 to generate $1000. Crypto.com also has the CRO token paying 18% interest, which would require a little less to generate $1000.
This demonstrates how useful a tool high interest rates can be. $6250 is not an impossible amount of money to save. And, if you can get 16% on that every year, you'll have your vacation paid by the same capital every year. Isn't that amazing?
It also demonstrates that you should not be timid in buying Hive or CRO. The sooner your position in either crypto is above $5000, you stand to get useful returns on your investment. I want to parrot @sergiomendes in saying that "Hive is real money." If you are timid in your accumulation of Hive, you will get timid returns. For example, if you have 1,500 Hive, your return would be 240 Hive per year, assuming you could somehow lease all of it out. That's about $57. That might get you a decent bottle of tequila. But, definitely not a decent hotel room.
I don't think many members of Hive recognize that they own a part of a machine that is capable of generating wealth if they are willing to invest heavily into it. Despite the low active daily users, despite the low price of Hive, and despite the lack of marketing, Dlease currently pays 16% interest. Oh, never mind, it is now 17%. Or, if you treat Hive as a full-time job, you could possibly earn more than 17%.
We lament that Hive isn't more popular. Yet, we fail to recognize what it can produce already if we are willing to invest into it. This earning ability is present TODAY. You don't need the price of Hive to go up. All you need is to put money in to Hive. Right now, it's like a candy machine. You put your coins in and get your candy out. It's that simple. It's super easy now. It would be easier still with more users and a bull market. Take advantage of this opportunity.