It's that day again ! Time for my weekly #SaturdaySavers update....
If you're not familiar with SaturdaySavers, it's a fabulous initiative run by @shanibeer writing as @sally-saver on the @eddie-earner account, where we all support each other in getting to our savings goals.
Image by Adina Voicu from Pixabay
To start with, here's last week's progress table;
Observations on Last Week / Next Week
I'm not going to go into huge detail going through the table line by line, but I reckon it's worth picking out a couple of key points.
First is that although the only metric I'm failing on is EDS, it is gradually coming back closer to the goal. For that, I want to say a big "thank you !" to @shanibeer and @hoosie - the EDS and EDSMM's that are being given out as part of the Top Author initiative are being an absolute godsend !
Additionally, delegating to the @eds-vote programme is also starting to trickle them in. I've only delegated a little so far, as I like to keep my main vote value as high as I can, but probably after the next HPUD I'm aiming to increase the delegation.
Sadly, I blew my goal of getting a power up month badge on Hivebuzz this month; we had a Bank Holiday here in the UK, and real life got so in the way that I totally forgot to power up. D'oh !
Talking of power-up days, it's LEO power up day in 2 day's time. Are you ready ? I am !
Now on to the main thing I've been mulling over for the week. It's a simple philosophical question which I found a surprising number of angles for.
The question is;
Is it better to earn or buy Hive Power ?
What sparked this was a realisation that most of the Hive Power I've got is a result of spending Fiat currency to buy HIVE.
What is bad about this ?
- It feels like cheating - that I'm "buying my way in" and in the process, devaluing the effort of the people who earn their HP through the immense effort of regularly posting.
- That it could be seen as using my priviledge of living in a Western country and having a good life with decent earnings, in a way that Hivers in poorer countries have no chance of matching.
- That if the price of HIVE dips, the risk of losing money is far higher than if I had just earned it by posting.
But on the other hand, there are also good points about buying HIVE;
- It adds to the Fiat invested into HIVE and makes a small but useful contribution to keeping the price up and increasing it's market capitalisation.
- It is a concrete demonstration of my belief in the long term future of Hive, both as a cryptocurrency and as a Web3 ecosystem.
- Increasing my HP by buying it increases my vote value, and I can use that to help grow the accounts of friends (and current strangers !) from all over the world, including those in countries where the economy is too messed up to give them the opportunity to just buy HIVE.
- It helps balance out the fact that I don't have the time to post as much as many Hivers do.
- It preserves my capital better than just leaving it in a legacy bank to be eaten away by inflation; the rate of return is better, and the keys are my own.
So what do you think ? What have I missed ? Is it acceptable to buy HIVE rather than earning it the hard way ?
