There are some "tricky" topics here on HIVE and there are some easy topics... When I created a post about Whales having more and more Hive Power, I was prepared for receiving opposite/different reactions about that topic... Especially when the talk about HBD and Hive Power came to the table... So, here we are in another Late Night blogging post...
Just to clarify... There is no way to compare these two things with each other... They are completely opposite to each other, but in some way, it's awesome that we have them BOTH directly written in the HIVE blockchain! So, if you want to pick a side, you can, and you are still welcome here... 😃 But, they are different coins/tokens, or whatever you call them...
Created in Canva.com
The HBD stays for Hive Backed Dollar (if I remember well), which means that it tends to be valued as 1 USD... So, in some way, we can call it a stablecoin... There is no more or less to talk about it, and there is no other "special" purpose for it... The need of having it directly in the blockchain is "explained," as a less volatile (I will have another talk about this topic in the future) asset for dApps developers, which want more "secure" assets before doing some work...
On the other side, we have Hive Power (or HP) that is taking the "main role" here on the blockchain... I will not go deep into the definition of it, but rather say WHY it's important to "regular Hivers" to have it... In a nutshell, if you want to create content on the HIVE blockchain you have to have Hive Power (staked/powered up HIVE), as it will give you RC (Resource Credits) which are an asset that we use on HIVE to "pay for transactions"... Yes, I said pay as the transaction are paid and they are not completely free... But, as your RCs are recharging automatically, it is free in some way... So, that's the main purpose, but we have a lot of other "side-effects" of having Hive Power!
The minimum amount of HivePower (in my opinion) that you have to have would be, at least, around 50-100... That should give you a margin of creating 1-2 posts per day, and engaging with others in the comments...
Why would I want to have MORE Hive Power than that?
This is probably the main question that every newbie here on Hive asks maybe right away, or maybe after some time here... I know that I said that we can't compare HBD and HIVE as they are opposite things, but people do that regularly! And they do that because of one thing... APR on these two things... So, if you put 1000 HBD in savings, after one year you will have at least 1200 HBD (probably more if you compound earnings) as APR is (currently) 20%... On the other side, if you power up 1000 HIVE, and curate with that regularly, you will have 1120 HIVE in a year...
Do you see the dilemma here? This wasn't the case a year (or more) before as the APR on HBD savings was much more lower and many people didn't use that at all... Now, almost everyone has at least some HBD in savings...
So, a decision to power up your HIVE is tougher now than before... Especially if you don't need more RC for transaction fees (and many don't need it)... But, as I said at the beginning, Hive Power is much more than a number...
Hive Power shows commitment to the platform
One of the basic things about HIVE is that everything is transparent... Everyone can click on your username, go to your wallet and check your "state of assets"... What coins do you HODL, what are your "preferences", who do you support the most, what token is in your focus, etc... The conclusion from that is that you are more "loyal" to one tribe than to another, for example... But, if you are accumulating Hive Power you are showing COMMITMENT to the whole platform and the blockchain itself! And people do appreciate that... If I'm accumulating HIVE for years, that's a sign that (high probability) I will do that in the future, too... And most important, I will be here tomorrow to continue doing that! That leads us to the next point...
Hive Power builds your reputation
If you are doing the first thing, it shows that you can be called Hiver (or Hivian, or whatever you like... you get the point... 😃)! And if you are called like that, you have built (and actively building) your reputation... Until what point is that important? In my opinion, a higher reputation shows that a person is at HOME... This blockchain is our home and we take care of our home, aren't we?
Hive Power shows that you care about your readers
This is another important aspect of having big(ger) Hive Power... If you have a bigger HP, your upvotes are more valuable and you can reward your readers with more crypto... Yes, I said readers as you SHOULD show appreciation to them by (at least) upvoting and replying to their comments on your posts! Also, you show other authors that you CARE about their work by upvoting their posts!
Hive Power makes communities stronger
Now, this one is tricky, but I like it! It is a kind of side-effect of the previous points... If you have, for example, a mushroom community of 50 people and all of you are growing your Hive Power... As everyone in the community is passionate about mushrooms, most of the upvotes will go to your fellow community members and you will grow together! Making the whole community much stronger, and wealthier!
Hive Power shows that you CARE
This is already said in all points before, but I want to underline it once again, for the end... In any case, bigger Hive Power (that you use) shows that you CARE about the blockchain and about the other people here!
I have probably missed saying some other advantages of Hive Power, so be free to write them down in the comment section... I would like to hear your opinion about this important topic... Why do you accumulate Hive Power?
Thank you for your time,
ph
If you want to support my witness, you can do it by voting for @ph1102.ctp here https://tribaldex.com/witnesses, or just scan the QR code down below...
Don't forget to follow, reblog, and browse my Hivepage to stay connected with all the great stuff!
You can also find me on LEO Finance .:. Twitter .:. Odysee