Hello Hivers! Happy Power Up Day!
We had an interesting discussion with my Hive team yesterday about powering up. We focused on the economics of Hive and most of us have seen for ourselves how Hive is more than just a social media blogging platform.
We discussed the implications of powering up and from our discussion, I could distill the following information:
| Pros of Powering Up | Cons of Powering Up |
|---|---|
| increase in vote value | lesser Hive to work with in next power up |
| earn more through curation | opportunity cost |
| make Hive activities more sustainable | |
| chance to win in power up contest |
It comes as no surprise why I chose to power up. It's because the benefits outweigh the costs for me. In line with our plans here in Hive, I think that powering up makes our Hive production more sustainable. Why? Because we are contributing to what I believe is a positive move for the majority in the platform. When you power up, your vote value increases, supporting you and more Hivers in terms of post value. You also have the incentive to look out for high quality posts because you can earn more through curation. Of course, winning in the power up contest is a sweet bonus!
The cons include, of course, lesser Hive to power up in the next month but this can be replenished by increasing postings. The opportunity cost of lost earnings, even if it's highly unlikely per @ybanezkim26, when Hive reaches $8.00 in the market was also something we considered as well. That's why our mentor has recommended that we should not power up 100% of our Hive.
After powering up 50 Hive...
This is the first time I've powered up. It's memorable to be part of this grand event.
She is on a mission to become better than who she was yesterday. A chemical engineer and a financial advisor, she hopes to give value to this space as a motivated individual. She found the perfect marriage of what she wants to do in life and her mission in financial advising. She balances her work and life at the comforts of her home. She loves to meet like-minded people and watch Ghost Fighter in her free time. Watch this space for tales of self-improvement and self-acceptance, per Mark Manson, "the philosophical tightrope."
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