As if crypto doesn't exist

in LeoFinance13 days ago

One of the reasons that a lot of people give for selling HIVE they earn is that they need it to live, which is a pretty good reason, but also not. Obviously, we almost all need some kind of income to sustain us in the modern world, but I have always had questions about those who rely on Hive for theirs, especially for staple things in life, as it is far too volatile and is open to all kinds of other aspects, making it unreliable as an income unless a person has stake.

Many people say "money attracts money" and the "rich get richer" and this is true on Hive, in HIVE. Stake can be used to earn on through curation and often, those with stake are able to have a voice in the community too, which can attract supporting stake. Yet, often, those who are the biggest sellers of their potential stake are also the ones saying they don't get enough community support, without thinking about the lack of support they provide the community themselves.

But, this aside, for the people who need HIVE (or other crypto) to live off so that they are continually in need, what would they do if they had none, if it didn't exist at all?

Just as a thought experiment for myself, if I didn't hold any crypto now, if Hive didn't exist - my life would be easier. The reason is that I don't use any crypto to service my life, but I put a lot of effort into building my stake in crypto. I would have more money if I didn't have crypto, because I wouldn't be buying crypto, but the reason I buy now is that I believe that the value of what I buy is going to go up in relation to the euros I buy it with. It is the same for the time and energy spent on Hive to earn HIVE, as I believe the value of Hive and HIVE are going to be worth significantly more than my time and energy I put into it now.

But, if I needed to sell my HIVE to pay my rent, buy groceries or get flea powder for my grandma's dog - is it Hive's problem or the way I have organized my life? If Hive didn't exist, what would I do, how would I survive? If I can identify those things, why am I not doing them now, so that while I am able to earn HIVE, I am also able to hold HIVE or other cryptos for the future?

This is in part due to habit and mindset, where if something is available it has to be used, even if it means continually having to struggle to make ends meet. Yes, there is a relatively high risk that Hive and crypto will fail in the future, but there is also a relatively high chance it will not only survive, but thrive, with the value of it on average being far greater than the relative energy used to make it.

Of course in some places, it isn't exactly easy to get work to make ends meet, but considering that the population on Hive is so small, it seems that most people in those places are still finding a way to survive, because they aren't here earning. For them, HIVE doesn't exist, so they can't spend it.

While I spend a lot of time considering aspects of Hive and crypto, once I hit the border of spending the HIVE itself, it disappears and doesn't exist. Taking it off the table as an option to use for daily living has given me the chance to build my account, because regardless of what is happening IRL, my life has to be managed by "real world" activity. This means there has been no expansion of my standards of living in any way, other than what can be done through paid work.

I am not saying that everyone has to do this and of course, everyone can do with their own HIVE as they choose, but in my opinion, for those looking to really improve their standard of living using crypto, they are going to have to make sure that they have crypto in the future too, not live digital hand to mouth. A lot of people think that HIVE and similar tokens are easy to come by through posting, but this tap can close at pretty much any point, locking those who do not own any out of the pool, or forcing them to buy. However, only those with money can actually buy, meaning those who needed to live off HIVE are unlikely to be able to buy back into HIVE, or any other token for that matter.

So what then?

If all of your community derived HIVE earning were wiped away, do you have to go without something? If so, you are at least somewhat reliant on Hive and not only that, reliant on people *choosing to provide you with value that will survive in the 7-day negotiation until it is owned. If you are reliant on the community for income to manage your life but aren't providing value back to that community, what happens long-term, do you expect to keep getting supported indefinitely?

Again, this is not judgement of individual behavior, but I believe it is important for individuals to take responsibility for their behaviors and outcomes in life. When we rely on people for our personal income, we are working a job and as such, have to make sure that the job we do meets their expectations. On Hive, the payment of our "income" comes from a shared pool, meaning that those who are working for a share of it without owning stake, have many bosses to satisfy.

This is an illustration of ownership - owners make decisions. On Hive, people own their accounts and they own what they put on their accounts, but without stake, they don't own any rights to the pool, meaning that access to the pool is granted by owners with stake. When those owners see behaviors they believe are detrimental to their view of Hive, they have their staked rights and their voice with which they can affect the outcomes. This could be by not granting access to the pool or, blocking access to the pool by narrowing the doorway with their stake. What is detrimental is up to them, as is how they respond.

It might not be "fair" that some people are able to be in conditions that support growth mindsets and habits, while others are not - but each of us has the opportunity to affect our own behavior. For me, reframing conditions to improve my chances of a growth, rather than a subsistence mindset, has allowed me to build in ways that I previously didn't think I was cable of. Simultaneously, I have seen many others who have not changed their behavior and are exactly where they have always been, still struggling, still doing the job in the hope to please their bosses, complaining about conditions when they can't. At what point do we get tired of the struggle, tired of complaining about conditions and instead - do something about improving our own lives for good, not just for today?

There is more to building than earning more, the other habits have to support the growth too.
Crypto does exist, there is opportunity on Hive - it is what we each do with it that matters.

Taraz
[ Gen1: Hive ]

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Take some out and buy a nice BMW, every time you drive it will remind you of the writing efforts you are putting in.

Take some out and buy a nice BMW, every time you drive it will remind you of the writing efforts you are putting in.

If I gave a crap about cars, maybe :)

Funny thing is, every time I reward someone with the stake I have it reminds me of the writing effort as well.

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I bought a little VW golf with mine.
No need to spend more than $20k though ....
Lots of family road trips with kayaks and puppy planned for the summer.

9E431BD9-B62E-409B-8A54-1F093ACFCE7F.jpeg

Good job buddy, does it make crypto feel more real to your family and friends when you tell them how you paid for it?

Yes... suddenly everyone wants to know where to buy or how to earn crypto. Up until the moment I bought this car everyone thought Bitcoin was a scam.


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All right I'll save my hive as much as I can and become very rich in future and thanks for all the information and suggestions

good luck and please remember your first ever follower on hive ;)

Thank you my friend and yes I will always remember you for this..
I'm a new hive user and still need to learn many more how does it really work.

Good luck with it :)

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I'm a new hive user and wish to Learn more from you all how does it really operate.

that's true, compared to other meme currencies, @hive is a community driven.
it has a goal to help other people in the community.

talking about becoming rich, how do I stake my Hive for more returns.
the psychology you used is very true, because I would have found another way to solve my other problems if hive didn't exist.
Well, from some other perspective,I'm not judging anyone, staple things are not easy to get in some other countries, many people have made a living through crypto currencies,in some countries that do not offer job opportunities for their people, people run to crypto to make a living for themselves because they are tired of been exploited by their bosses making wealth off them for little pay.
Imagine in some countries that used to have high crime rate, most of them have reduced since the advent of crypto, despite the fact that there are no jobs.

many people can live comfortably from what they earn from hive and other crypto

besides all these, I think I can use this you have said to avoid spending my savings.

have a nice day

talking about becoming rich, how do I stake my Hive for more returns.

HIVE POWER is staked Hive.

Yes, I understand why some people sell around the place, but I also think that if wanting to not have to sell, a suitable position needs to be built. If selling everything, that is unlikely.

many people can live comfortably from what they earn from hive and other crypto

Yes they can, but what happens when that stream stops? For example, A lot of people get comfortable earning on their posts, then rage when people change their voting habits.

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I havent used HIVE or any cryptocurrency for my livelihood. I am saving and saving, I belive that I will use them in coming years.

yeah, in the future selling is likely, but not when trying to build

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I might sell some in El Salvador when they will add HIVE as official currency ;)

Sounds like a plan. Will be interesting to see what happens with alts there.

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Hive seems to be a big hit in Venezuela. I guess many more economies can benefit, but the pain drives to change so weak economies are the first adopters.

The good thing is that you believe that the value of what you buy is going to go up in relation to the euros you bought it with. Nice.

If you don't believe in what you are working for, why do the work?

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Just as a thought experiment for myself, if I didn't hold any crypto now, if Hive didn't exist - my life would be easier.

This does exactly describe it. Spot on.
I am not relying on Hive in my life. I do see it as a long term investment. The same is valid for other crypto in general in my case.
Still I do feel the urge to decrease my fiat investment as low as possible. We do live today and not tomorrow. And if the Covid pandemic did learn my anything, than it is that we have to enjoy every moment of life. Time with family and friends and so on.
If crypto did exist? Well there are more people who don't know ZIP about crypto than people who do know. These people still do strungle day to day. Maybe for some crypto does replace a second job. While it is still time consuming, it can be arranged better.

But Hive and other crypto does give the regular folks a chance to earn something extra. Without crypto in general only the influencer could make a living out of online activities. Or maybe, just maybe someone would come on the idea to build a fiat version of Facebook, Twitter or anything else.

Maybe other without crypto would become thieves. Who knows.

Well a tough question to answer. So I will stop here and think about it.

Cheers,
Peter

It can be a good supplementary income of managed well, especially if it grows in value as an industry. For most though, we are bit generally business-minded, so end up spending what we could be investing. We reduce suffering a small amount now, rather than put in the time and effort to cure suffering.

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I totally agree with all of this. You get out what you put in and just scraping by versus thriving is totally up to you.

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I think like the cure to many ailments, most people don't want it is it takes effort. They want a pill, they want to win the lottery.

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Yes indeed, instant gratification.

I think that what we do with the opportunities is more important than the opportunity itself. Some people are exposed to wealth and big amounts of money yet they spend it not so wise on liabilities. I have met people with smaller incomes who had more savings than those earning 3 to 4 times more. This shows that what we decide to do with the money matters more than the amounts. One might spend crypto to buy expensive perfume or to invest or they might prefer to hold /stake for future earnings. The results will be seen in the future for sure

I have met people with smaller incomes who had more savings than those earning 3 to 4 times more.

A guy I knew was like this, where he was earning 4x the average income, had nothing to his name and by the last week of the month, was borrowing from friends.

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Oh I have known people like this too. I was always in awe how they could make more money than me and yet always have their pockets empty. I did observe a pattern in most cases: they never track their spendings and they buy anything they want without thinking of they trully need it. They live on the carpe diem philosophy. I admire spontaneity, but when it comes to money, one has to also think of the future before conspicuously spending. I will always believe that it is never about the amount of money that you make as much as about how and why you spend/save it.

With great power comes great responsibility! The rewards pool is there to incentivize content creation, and owning stake gives you rights to reward people for their efforts. If the pool is used towards users that add value then I think it's serving it's purpose. That said a growth mindset is definitely needed in order to change up your life for the better, and I would encourage everyone to understand and live the growth mindset, it's a powerful tool.

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The rewards pool is there to incentivize content creation

Content creation, app development, community initiatives and of course, as a return those who have invested into their stake. Used well it is very powerful.

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I was grandfathered into Hive through Steem. The Steem crowd made promises of its future worth. But it was a pain in the butt to do, mainly because Steem (and Hive) look like sales catalogs. All the titles look like some of the best copywriting I've ever seen. Aside from other Hive writers, none of the articles feel as if they're personal -- from the writer's heart -- enough to draw in outsiders. They're all cheesy one second attention getters.

There are a few good apples. I love this article, for example.

But a living system must constantly have something poured into it. And I wonder how Hive can survive if it doesn't try and attract the outside world into its fold with something other than flashy titles.

All the titles look like some of the best copywriting I've ever seen.

I was just mentioning this to someone who does exactly this... It is a waste. The power of web 3.0 is in the empowerment of people derived content, yet what they are copy and pasting from web 2.0 is the opposite of that. Yet, they get rewarded.

But a living system must constantly have something poured into it. And I wonder how Hive can survive if it doesn't try and attract the outside world into its fold with something other than flashy titles.

Yes it has to grow and is growing in various ways, article content is only a slice of the entire picture. Will be interesting to see what @threespeak does in the coming months with their efforts, as well as the continuation of LEO and Splinterlands. There will be more to come on the back of these too.

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A very interesting post and I agree with what you are saying! But if u need the money then You need the money! I feel lucky that for me it is fun and I don’t need the money to eat! Big up your post.




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But if u need the money then You need the money!

Yeah for sure. I have been in situations in my life where I need the money, but these kinds of options didn't exist or, I didn't know about them - it can suck ass, which is why I don't want to squander the opportunity now.

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That is a most excellent point! Me neither we love it here and if we can monetise our content then that is also good!

I am just saving my Hives till it will be worth a lot. However, for this bull run, I have a plan to sell it some and then buy it back when the prices will stabilize. But first I need to wait for prices to go up :) My plans are long-term and I hope Hive will be around us for a long time and its popularity will only grow. Can we say I am a gambler? IDK, did they call Amazon stock owners back in 2000 gamblers? Probably more like idiots. Even Economy Nobel prize winner claimed that the Internet will never impact on the economy. Sure thing

However, for this bull run, I have a plan to sell it some and then buy it back when the prices will stabilize. But first I need to wait for prices to go up :)

Nothing wrong with this approach - this is more for the people who see constantly, at any price.

Can we say I am a gambler? IDK, did they call Amazon stock owners back in 2000 gamblers?

There is a difference in gambling, one of them is the timeframe involved. Gamblers don't tend to think very long.

Even Economy Nobel prize winner claimed that the Internet will never impact on the economy.

Funny isn't it?

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Sure thing! History showed us being first is usually great. If I would start posting my daily poop photo on Instagram when it came out, I bet today I could live with this activity and probably spend most of the money for fiber-rich organic food, just to make sure my income is stable :)

If I would start posting my daily poop photo on Instagram when it came out, I bet today I could live with this activity and probably spend most of the money for fiber-rich organic food, just to make sure my income is stable

Well, that is something to visualize :D

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If the people using Hive to live could understand they came to Hive with no Hive income, and when they withdraw all earnings they always have no Hive income. Use the liquid portion of rewards, leave the rewards that are powered up as powered up Hive and begin to reap the harvest of having some powered up. The price of Hive varies, a lot sometime so to make it simple:

May of 2020 curation earnings 32 Hive
May of 2021 curation earnings 69 Hive

One year and slightly over twice the earnings from just voting. That is the direct result of having Hive Power. This month so far I have not had a single day where my vote curation has dropped below 2.0 Hive.

Use the liquid Hive and leave the powered up hive alone, join the community, be an active member, vote and comment and watch your reputation grow, and your vote value grow, and your vote returns grow. I made more in curation rewards than in author rewards over the last 30 days. 48 Hive in curation verse 21 in author rewards.

If people trying to use Hive as a means of income support, they really need to see and understand the power of leaving their auto powered up rewards alone. They may get to a point they do not need to spend time posting, just a couple of hours voting and commenting. Then they can find other ways and means of earning some income elsewhere.

If the people using Hive to live could understand they came to Hive with no Hive income, and when they withdraw all earnings they always have no Hive income.

Hand to mouth living, no investment.

May of 2020 curation earnings 32 Hive
May of 2021 curation earnings 69 Hive

Pretty massive difference. Even with that, Hive doesn't have to go very high in price to make that curation amount significant.

I made more in curation rewards than in author rewards over the last 30 days. 48 Hive in curation verse 21 in author rewards.

You should post more. Summer is here - take the camera out! :D

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I actually have a few pictures on my camera, and my phone, just have not looked at them yet, been a pretty busy week so far. We still have not made it to the green house, that is maybe this Friday, if the weather is nice.

A lot of people think that HIVE and similar tokens are easy to come by through posting, but this tap can close at pretty much any point,

This is quite an interesting perspective, do you think we'll eventually move from being a content creation platform in the future? Wonder what you'd do then, seeing as you like writing so much...lol.

In hindsight you'd probably be a Hive Whale by then so...

do you think we'll eventually move from being a content creation platform in the future?

The Hive tap might close, but secondary tokens can be valuable too. HIVE underpins the network and it has been distributed for 5 years (kind of) already. At some point, it would make sense to have it a buy-in token that attracts earnings (like defi) from the businesses built atop it. The uproar if this change happens would be huge, mostly from the people who sold.

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Can't argue with that, it does make sense in a way. There certainly will be some kind of reward for people who choose to hold though, I've never had any doubt about that

If there was mass adoption, those RCs are valuable too - the next hardfork should allow us to delegate them out, which means for example, an application would be able to onboard users and give them RCs to work with, rather than HIVE. This means they can interact all they want, without being able to draw anything from the pool, unless they earn it. This is valuable for games as well, as it means a game like splinterlands can have "soft accounts" that are owned by the player, but powered by delegated RCs. The player can play the game, without ever needing to see Hive.

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