(Source) Check the announcement post by @leogrowth for all the details.
LEO Power Up
My first time taking part in LPUD, but I had some HIVE sitting in my Hive Engine wallet and, as I like to keep a clean wallet, I decided to do a little housekeeping and buy some LEO to take part in the monthly power-up.
I have a long history with LEO and it's always been good to me. Way back when LEO started I received an airdrop and through the @spinvest team, I've been involved in various LEO adventures, good and some more like the proverbial rollercoaster. One weekend, we managed to increase my holdings by about £125 ($155) and escape with them intact after the wLEO hack. Scary for our curator, who was at work at the time, anxious about managing other people's holdings, but all grist to the mill and another story to tell the grandchildren.
Later, I sold some LEO to finance something else I was interested in. I know, what was I like? But on the other hand, good to use the holdings you have to improve your position. I think I was down to about 2,500 LEO when I decided to start accumulating them again. I hold LBI and CL, two of the @spinvest family of funds. Until recently, both were paying dividends in LEO (LBI, after a vote among token holders, has paused paying dividends until the fund becomes more sustainable) and I decided to stake them and delegate to @meowcurator. All in all, I have a regular passive income of about 3-4 LEO each day or about 117 LEO each month.
I power up LEO each week when I'm doing my weekly housekeeping with the Saturday Savers Club. It makes sense for the compounding benefits. My target was to get back to 5,000 LP, but I passed that a while ago ago and I'm wondering about changing one of my savings goals to head for 10,000 LP by 31 December. That would mean powering up an additional 320 or so LEO each month.
With where we are in the Bitcoin cycle, it makes sense to do this now.
Saturday Savers Club
I co-ordinate the Saturday Savers Club over on the @eddie-earner account. The Club has grown from about half a dozen regular savers in the first year to 38 registered savers in this, our third year (check the registered savers in the Savers Chart in last week's post).
In earlier years, we focused on any savings goal (and savers can still do that) to now, when we focus more on building HP, HBD savings and LP. Lots of savers have subsidiary goals as well. Between us, we're aiming to save the best part of 50,000 HP this year.
This is what we say in the FAQs post:
Saturday Savers Club is for anyone who wants to save in any currency for any purpose. The Club is a supportive group of people who meet up around the weekly post, usually on a Saturday but occasionally on a Sunday, to share tips and techniques and have some fun in the process.
Saving is a skill that takes time and practice to acquire and, like learning any skill, doesn't always go the way you planned. Saturday Savers Club provides a framework that you can use to help you on your way, as well as tips and a process to provide or support the skills you need to design and manage your own savings plan.
My primary and secondary savings goals for this year are to reach:
- 100,000 HP
I'm doing pretty well on this (80,000 HP today in a parallel power up), considering that HIVE is increasing in value at the moment. I have about 300 or so HIVE in passive income each month, another 375-400 HIVE through curating and about 190 HIVE through inflation.
We're moving into year 4 of the Bitcoin halving cycle and I'm expecting HIVE to decrease in value over the latter half of the year leading up May 2024. I'll be buying regular weekly amounts during that time to reach my 100,000HP goal by 1 January 2024.
- 1,500 HBD savings
I reached this a while ago and then, for the first time, I've decided to use HBD savings to save for a real expense I will have in March 2024. I'm putting aside the full fiat amount required each month, so even when I withdraw that amount, I will still have HBD savings (may even have the 1,500 HBD goal I set myself for the year).
Saving for a fiat expense using HBD is a big mindset move for me. Until now, HIVE and HBD have always been additional to any expenses. I do have a contingency plan in case this doesn't work, one I would prefer not to use but there as back up if needed.
I think it is good to start using HBD incrementally in this way, it's starting to prefigure the future.
Time to Change Goals?
Having reached my HBD goal earlier in the year, is it time (is there time) to add a new goal? I think so, and 10,000 LP is the one.
XV Token
This is a new, medium-term token being offered by @spinvest.
Essentially, sales from the XV token are used to invest in a basket of 15 of the 50 top-ranking cryptocurrencies. The 15 tokens are weighted differently according to the rank in the top 50 with BTC and ETH, for example, getting heavier weighting (a greater proportion of the fund is invested in them). The basket is regularly re-balanced to take account of changing conditions.
The basket of 15 tokens will be held for two years and then sold in June 2025 and all the XV tokens brought back from token holders in HIVE with the proceeds. The project has been designed to take advantage of the four-year cycle led by the Bitcoin halving: prices for tokens are relatively low now, and are expected to surge at the start of the bull market led by Bitcoin. HIVE, coming after the first wave of alts, will still be relatively low in price in June 2025, but is expected to surge towards the end of 2025.
Key details are:
- On sale now until 10 May 2023 at 1 HIVE each.
- experienced fund manager - @silverstackeruk has managed the SPI investment and growth fund for nearly four years, growing it from $13,000 to $151,536 at 9 april 2023.
- transparent reporting and easy access to resolve queries.
- only work for investors is checking monthly reports.
Anyone for 1 HIVE can invest in 15 top 50 ranking tokens. I think that's pretty good.
Investing has already started with XV token sales to date, you can see the latest post here.
This was a side savings goal for me. I managed to raise the funds to reach my XV token goal in six weeks, without distracting from my main HP goal.
So there we are - happy LPUD!
There's a 500 CTP giveaway on this post for comments.
