Don't be the Parasite! Grow the Community Economy with your Staking Game
Wealth building starts with the decision to "not spend everything"!
Sometime ago, @Taskmaster4450le penned a post themes "cryptocurrency: Avoiding the parasite economy" and it was a clear presentation of the traditional economy where everyone looks for a way to take out his cut and in the process, leave the economy depleted and drained. The futuristic terminologies such as HODL, STAKE found in cryptocurrency helps investors to contribute to the build of the system rather than crumble it.
With the advent of DeFi which helps investors in their choice crypto to pool their assets to cause a demand traction thereby leading to price raise while receiving tiny profits which may come in another token entirely. The pooling of assets are sometimes very crucial in helping the lead team to embark on more development strides to further add value to the token economy.
Above is a marked screenshot of LeoFinance's LEO pool account for Uniswap ETH based Wrapped-leo. With over 1.2 million LEO worth over $800k kept in-situ, it has helped to grow the demand for LEO as well as price over the last 4- 5 months of WLEO's existence. That's just 10% of same token that's locked in stake where stakeholders are able to distribute some smaller quantities of tokens to others when upvoting their posts. Millions of LEOM and LEOMM has also been used to generate a lot of revenue for the team for development that has so far pomped the value of the LeoFinance community.
The Hive blockchain infrastructure helps users who are long-term minded and are ready to contribute to the growth of the community to participate in governance from the stakes thereby giving everyone an equal opportunity to own the system. With this, the parasites lose out on the long run than earn.
Who are the Economy Parasites?
All they do is feed and drain the system without contributing anything tangible. Parasites are never looking at the future. All they care is what can we earn in the now? They complain how the system is not doing well and are never ready yo take responsibility on how to improve. They think that long term investors who HODL and stake their tokens have nothing to do with their money.
I remember when a friend asking why I didn't withdraw my SPORTS token to meet a financial need especially as I had hit the double digit million count in stake of the token and the token was almost as worthless then. I told him I look into the future when the token would draw some value and that should be in 2 years time or so. I looked more like a fool for saying that especially when I had to buy the dumps.
While SPORTS crashed to nothing, I stood at the bottom and gathered as much as over 20 million tokens, powered them up and started a rigorous curation which has helped to double the token amount over a space of 10 months. I refused to be the parasite that drains the system, rather I look into the future when the system would recover. I have the wealthy mindset.
The Non-parasites have the wealthy Mindset
A wise man once said:
Wealthy people think of investing when they have money, Poor people only think of spending. Wealth building starts with the decision to "not spend everything".
I choose to be wealthy, rather than be a parasite. While others are looking for who to help them, I am always in search of how to grow my helping strength. This is why I continually stake the tiny tokens and now, some of them are beginning to gain the light of the day.
Just few months ago, my SPORTS holdings were around $200 and today, they are almost going 10x. I am expecting much more in the future. When my initial $200 would do a 1000x movement and then, I'll say I'm wealthy.
Pushing in $36 worth of liquid SPORTS to stake may sound foolish at a time when HIVE is mooning and I should take profit, but lo, I see a better future when today's $36 would become $360 and that seems coming in the next few weeks too.
I refuse to be the parasite, rather I groan to be the big builder of the tribe. Moving towards holding 200 million tokens in stake and that would make me as rich as Elon Musk in 10 years time. Now I hold one of the top governance power proportion and I think I'm making some profits.
Think HODLing!
Think Staking!
Think the Future!
Think Wealthy!
Think HIVE!
Posted Using LeoFinance Beta
I hope I'm not starting to be a parasite as I don't hodl much sports stake presently.
I'm sure that your friend would sell all his sports stake if he hodl huge amount of sports like you do
It's better to put in energy into the future benefit of the community than just having a view of getting rich quick process.
I can see the incoming Nigerian Elon Musk. I'm sure all the hodl days will pay off big time in the future.
let's ask ourself same question again in that 2years frame
This is just the way to go. I never saw my SPORTS holdings grow this much so quick.
Posted Using LeoFinance Beta
Completely agree with you
I don't have as many tokens as you but I always think about the long term.
Above all I get attached to the tokens I own and the desire to grow is always greater than the desire to monetize the tokens right away.
Great article and considerations @uyobong
!BEER
Posted Using LeoFinance Beta
Long term is the main deal. Each time you stake, you're bound to reap some interest in the near future.
Posted Using LeoFinance Beta
As CZ binance once said, only the hodler eventually gets rich.
Staking and building for the future should be the plan and not selling for peanuts. I personally raising my stake daily as I see it a long term investment, probably for my next generation.
The hive Blockchain needs more people like you.
Posted Using LeoFinance Beta
I never really understood the value of HODLing until I saw tokens here move from $0.000 to $0.1 and more. I do it better now.
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I think I am more of a parasite in the Leo token because I actually don't or haven't staked much LEO over the period I have stayed and gathered. Although I hope to stake more someday for my Sports token, I really do not go near it maybe it is because I am waiting for more rise.
Great and educative article you've written. We just have to change the mindset of spending all at once and think of investing some.
It's not late to start a wealthy mindset by consciously staking a part of your earnings. The huge rewards would be in the future.
Posted Using LeoFinance Beta
totally agree with you and back in steemit days there were so many parasites that i got so annoyed, i stopped giving any effort and was out for many months.
Everyone should be active in their respected community, by staking, creating quality content or curating. Otherwise we need to cast the aside.
Posted Using LeoFinance Beta
Yeah, the call to build the community is for all users. No effort is too small or too big. As everyone push, we see the community achieved with ease.
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It is important that we also think of giving rather than always receiving. Many always want to attract curators but they themselves don't aspire to be a curator. This is why I'm daily staking my SPoRTS and list tokens to grow my curation power
Very true. Aspiring to be a whale curator is what earned me supports by LEO whales back in the days in March -APril 2020.
Posted Using LeoFinance Beta
Glad I'm a sportstalk curator
Wow, I refuse to be the parasite, I would rather look into the future, my contributions by staking might not amount t anything yet in the community, but I'll still keep staking.
In the future, count Six months to 1 year, you'll see the compounding effect. Never relent but be consistent and deliberate about it.
Posted Using LeoFinance Beta
$wine This post is top notch, trying to stake my wine to Level 5 and keep that staked to curate those I love, while hoping to buy a slight excess to keep liquid unstaked for a little bit of trading or using it as currency.
I started out on steemit, then stopped left crypto alone 1-2years more or less entirely, then came back to find hive and after finally not just meddling on the site as content creator, but also as someone interested to figure out and understand more about the financial, crypto side of things, with a clearer understanding of the mechanics, I am also now staking and building up my HP, delegating to my beloved who just joined and also staking LEO/LOTUS/WEED/CCC/NEOXIAN as I earn them.
Although my focus lies with LOTUS/WINE/HP/LEO where I am a great supporter of their respective vision and wish to stake and help add value to.
Maybe one day launch a token of our own once I have a better understanding since me and my partner are planning on creating a community as well, initially include the tokens communities that resonate with our vision though before thinking about creating our own, the community is called "Mystical Sovereigns" to curate posts about Individual Sovereignty, Self-Sufficiency and Spirituality.
Posted Using LeoFinance Beta
Thank you, I appreciate your WINE gift.
Posted Using LeoFinance Beta
!WINE this post earns two glasses
Congratulations, @ravenking13 You Successfully Shared 0.400 WINE With @uyobong.
You Earned 0.400 WINE As Curation Reward.
You Utilized 4/4 Successful Calls.
Total Purchase : 20311.298 WINE & Last Price : 0.290 HIVE
HURRY UP & GET YOUR SPOT IN WINE INITIAL TOKEN OFFERING -ITO-
WINE Current Market Price : 1.300 HIVE