One of the things I really like of the Hive Platform is the assistance received in growing my account and earning/saving for the future.
One of those projects is the Hive Power Up day.
Hive Power Up Day is always on the first day of the month and everyone is encouraged to power up minimum of 10 Hive to their account. Not only does this strength the overall Hive Platform but it also helps you individually grow your account.
Another benefit of powering up is that with a larger Hive Power balance, your platform vote is of a greater value. This not only helps you earn more with each vote you make but it also helps those that you are supporting grow their account as well.
So please join everyone on November 1st for Hive Power Up Day and let's grow together.
https://hivebuzz.me/@darmst5339
Hive Target
With the change of my strategy to just focus "One Week at a Time" with the end goal of accumulating as much as possible prior to this next bull run. The rest should take care of itself. I have not been as much in a rush to just get a post done on a daily basis. I now focus on making sure the post that I do create share tips, add value or share something that other can relate or enjoy. Due to this, I am not trying to push myself to get a post done everyday just so that I can say I posted every day but posting when I am inspired to do so.
Don't get me wrong, just because I have change the focus does not mean that I am giving up on my goal to accumulate 5,000 Hive Power and reach Dolphin status. But by focusing on each week, it feels better and I am not stressing myself out trying to meet a self imposed deadline.
Hive Power
| Last Week | Today | Increase |
|---|---|---|
| 2,904.683 | 2,918.474 | 13.791 |
This was a greater increase than last week so is helping continue the growing of my account balance.
| Week Ending | Hive Power Added | Hive Price | USD |
|---|---|---|---|
| 10/22/2023 | 9.83 | $0.330 | $3.24 |
| 10/29/2023 | 13.791 | $0.344 | $4.74 |
Not only did I grow my Hive Power balance, the Hive Price also increased which resulted in the USD equivalent of the addition to be $1.50 greater this week compared to last week.
| Week Ending | Hive Power Balance | Holding APR | Approximate Annual Increase | USD Equivalent |
|---|---|---|---|---|
| 10/22/2023 | 2904.683 | 3.04% | 88.302 | $29.14 |
| 10/29/2023 | 2918.474 | 2.99% | 87.262 | $30.02 |
So even though the Hive Power holding APR decreased from 3.04% to 2.99% this week, due to the price of Hive, the amount that I am earning on an annual basis for just holding Hive increased. As my balance grows, I believe the USD equivalent will continue to grow until it is a substantial amount. Or that is what I am wishing for...
Curation APR
While looking at this chart, I noticed that over the past week my curation APR has actually decrease from the prior week. It dropped from 8.27% to 7.85% curation APR. The curation APR rate really helps out in earning potential so it is important to maintain it to as high of a rate as possible.
| Week Ending | Hive Power Balance | Curation APR | Approximate Annual Increase | USD Equivalent |
|---|---|---|---|---|
| 10/22/2023 | 2904.683 | 8.27% | 240.217 | $79.27 |
| 10/29/2023 | 2918.474 | 7.85% | 229.100 | $78.81 |
This weeks calculations above proves the importance of keeping a higher curation APR. Even though my Hive Power balance increased, the approximate annual increase due to curating dropped.
Annual Passive Income
Both the holding APR of $30.02 and the curation APR of $78.81 will provide me just over $100 a year which I will need to increase by 10X before it is of an amount that will provide coverage of some of the household bills.
Start Small
Some people say that the above amount is not worth the trouble since it is so small however I beg to differ. You must start small to grow to something bigger. I believe that by adding a little be each week, the amount will grow bigger and bigger along the way.
One of the best ways to start is to start by participating in the Hive Power Up Day that is just 2 days away on November 1st UTC.
EVER FORWARD!!!
Posted Using InLeo Alpha