“Compound interest is the 8th wonder of the world. He who understands it, earns it; he who doesn’t, pays it...” - Albert Einstein
Debates surround if Albert actually stated this but it sets us up with what I believe will be an epic blog post...And more reasons why we need to be bullish on Hive and more specifically staked Hive - A.K.A. Hive Power!
Let's do a quick recap...As Hive is a delegated proof of stake blockchain, the more 'stake' you have, the more influence you have on the chain. This is straight forward enough that is captures the attention of new members to the community and gets them excited for the potential to 'earn' here on Hive.
Without going into too much detail, here's a shameless self promote for TheHiveGuide.com - That goes over Hive Power in much more detail.
But I'm making a bold statement...
HivePower is the 9th wonder of the world!!!!
Why do I believe this?
Am I just being a 'homer' and shill?
In this post I wanted to go over some of the amazing features of your account once you stake Hive, some maybe common knowledge...But some things might end up blowing your mind....Let's dive in;
Hive Power is needed for resource credits. The fuel that allows you to actually USE the blockchain. Everything 'costs' resource credits here on Hive, and once you have a small amount of Hive powered up, you can use the blockchain as much as you want!
Once you hit a certain number of Hive Power you can start earning on curation. Wait what? Yes, unlike popular social media sites that earn from YOU liking other people's stuff and feeding into their database, Hive Power allows you to earn a percentage of the curation rewards given to a post that you...Liked! And here's the best part...The more Hive Power you have, the bigger chunk of curation rewards you can receive!
I saw a post from my buddy @achim03 and he made a great point about Hive Power. When you are powered up, it shows the blockchain that you mean business. People notice you, you gain more followers and the general consensus is that...You are here for the long run because you believe in this blockchain.
You can give out some nice rewards to creators you support and enjoy. Sure, you upvote for potential curation rewards too, but the point is...A new creator or member to the blockchain sees a nice little vote from you on their posts...You make their day :) On top of that, you gain a potential follower and customer for life...That is HUGE!
You get to vote on proposals and witnesses that help shape the blockchain. The more Hive Power you have, the more your vote matters!
You stake, you earn! I'm never sure exactly what the number is...It seems to change every time I make a post about it, but once of the COOLEST aspects of Hive Power is it's basically a high interest savings account...You are earning between 3.5-7% a year on your Hive Power. Yup, just by powering up your Hive, you are earning interest every single second of the day. Here's a very cool tool by @nuthman to help you see how much you are earning...Right now!
So these are some of the common knowledge use cases for Hive Power. But here's the golden nugget of Hive Power....That needs to be covered....Delegation!
Sure you can use tools like @dlease which is a pretty cool way to get some great returns on leasing out your Hive Power to others, and I have been using it religiously now for months. My average returns from using Dlease is around 14%. Not too bad for simply...Lean ding my Hive Power to others.
But here's the sweetest thing on the blockchain....
There are so many projects to delegate to that send you rewards and dividends for doing so, but I'm just going to focus on Leo Voter and CTPSB.
With Leo Voter, you get a reward paid everyday in the form of LEO tokens. How cool is that? Not only am I supporting one of the coolest projects on Hive in the form of @LeoFinance but I'm also getting LEO tokens every day for doing so. No brainer for me!!
And with CTPSB, it's a community created project that supports delegators in the form of CTP tokens as well as other tokens that are earning curation rewards from the CTPSB project. That's right...I'm getting MULTIPLE dividend rewards from delegating to CTPSB...I mean, it doesn't get much better than that!!!
Delegation truly is a remarkable financial tool that is stuck right in to your Hive Power.
This is why....I'm on the mission to accumulate as much of this stuff as possible. Yeah, the price of Hive isn't where we all think it should be, but regardless of that, my mentality is accumulation!!!
And with the tools that Hive Power allows us to use each and every day...I just cannot think of a better crypto currency to invest into!
Let's grow together!!!
Come say hi and meet with the most dedicated and fired up entrepreneurs on the blockchain ...
The CTP Swarm
We're big on community!
And we'd love to have you join the CTP Swarm!