6K = Another Step Up The HBD Freedom Ladder!
I woke up early one morning in June 2023 and was suddenly inspired to create what I call the "HBD Freedom Ladder." The ladder has nine rungs, or "steps." Each "step" represents a quantity of HBD, starting with 300 HBD on step 1 and progressing all the way to 120,000 HBD on the 9th step.
- Step 1 = 300 HBD
- Step 2 = 600 HBD
- Step 3 = 3,000 HBD
- Step 4 = 6,000 HBD
- Step 5 = 7,500 HBD (an intermediary step)
- Step 6 = 15,000 HBD
- Step 7 = 30,000 HBD
- Step 8 = 60,000 HBD
- Step 9 = 120,000 HBD
See my first "HBD Freedom Ladder" post:
https://peakd.com/hive-119826/@hirohurl/the-hbd-ladder-to-freedom
Two years ago, HBD was offering 20% interest per annum, with monthly pay outs. The idea was to end up earning 2,000 HBD per month in interest so as to be more or less financially "free."
What a bummer it was, then, when the interest rate dropped to 15%! However, that did not cause me to abandon my goal of climbing to the ninth rung of the ladder. After all, 1,500 HBD per month is not to be sneezed at!
That experience taught me the importance of using all 20 of my witness votes to vote for witnesses who support 20% interest for HBD!
My 2 Year Progress Report
Two years ago, when I came up with the idea of the HBD Freedom Ladder, I had 265 HBD in savings, which is why I set the first rung at 300 HBD.
I got my foot on the first rung in July 2023.
https://peakd.com/hive-119826/@hirohurl/i-grab-hold-of-the-first-rung-on-the-hbd-freedom-ladder
Then, the following month, August 2023, I climbed onto the second rung (600 HBD)...
https://peakd.com/hive-167922/@hirohurl/i-climb-onto-the-second-rung-of-the-hbd-freedom-ladder
The next rung was a lot higher up (3000 HBD), and I set myself a target of March 2024 to get there.
In September 2023 I reported that I had hit 1,000 HBD and celebrated by marking a "notch" in the ladder between the second and third rung!
https://peakd.com/hive-167922/@hirohurl/the-first-1-a-new-notch-in-the-freedom-ladder-to-120000-hbd
I didn't get my foot on the third rung (3,000 HBD) in March 2024, but finally got there two months later:
https://peakd.com/hive-167922/@hirohurl/i-reach-the-3rd-rung-of-the-hbd-freedom-ladder
And now, 14 months later, I have finally gained the fourth - 6,000 HBD - rung. It was quite a climb, but I made the most of the distance in just one day - today!
How Was I Able To Gain 1k HBD In Just One Day?
Climbing up the HBD Freedom Ladder has always been based on the assumption that Bitcoin will rise in value and that I would be able to benefit from new Bitcoin all-time-highs to buy into HBD.
However, I don't want to liquidate my Bitcoin. So here's what I did this morning...
- Step 1: Send 0.02 BTC to CoinRabbit.
- Step 2: Initiate a loan of 0.01 BTC in USDT
- Step 3: Swap USDT for Hive on Simpleswap
- Step 4: Swap Hive for HBD on Ecency
- Step 5: Send 1k HBD to savings
It was a smooth operation and took less than an hour to complete all the steps.
Now the trick is to repay the loan using a combination of HBD Interest payments, Hive earnings, and affiliate commissions that land in my Bitcoin wallet.
There are some other considerations which I have taken into account. The biggest risk is a Bitcoin crash, so it is important not to commit all your crypto to a single mega loan even if you are in great expectations of a whole series of new all time highs in the coming months (which would greatly reduce the risk exposure).
On the up-side, this procedure enables me to climb the HBD Freedom Ladder without liquidating my Bitcoin. If all goes well, I'll get my Bitcoin back and will look at repeating the process to shimmy my way up the ladder...
I'll let you know how things progress in due course.
Onwards and upwards!
David Hurley
#InspiredFocus
P. S. None of the above is investment advice, merely an account of what I've been up to for good or ill. If you'd like to give it a go here's a list of the websites I mentioned:
- CoinRabbit.io (affiliate link)
- SimpleSwap.io (affiliate link)
- Ecency.com (affiliate link)
I never planned it this way but was working on similar and to be honest I almost abandoned the plan when the interest rates were dropped from 20-15% and the 15 here is offered by midcap indices. Doesn't make sense.
But don't know why I picked it up again and now I am according to your plan is on rung 2. Long way to go. 😅
Yes, the first big jump is between rung 2 and rung 3! Good luck.
!ALIVE
!BBH
This was fascinating to read ... thanks for the heads up on Coin Rabbit and the how you increased 1K in a day!
You're welcome, @scrbffreaders1 - now I have to pay off the loan to make sure the increase is real!
!ALIVE
!BBH
Big congratulations, David! That's incredible! I remember your original post on your freedom ladder, and I set that as my goal as well, though you've been adding HBD to savings much more quickly than I have. I crossed 500 HBD in savings not long ago, and every little bit of HBD that I receive goes straight into savings. Things are speeding up, but I've got a long way to go still. I'm very curious about your CoinRabbit-SimpleSwap method. Does CoinRabbit require KYC? 😁 🙏 💚 ✨ 🤙
Thank you @tydynrain - you're on course for the second rung of the ladder. I chose CoinRabbit because it doesn't require KYC, it passes the "Lindy" test (it's been around for five years now), and it was easy to work with. None of the steps in the process I described require KYC. 😎✨
!ALIVE
!BBH
You're very welcome, my friend, of course. Yep, I'm getting there indeed. Ah, OK, excellent! That's very good to know, because I don't do KYC any more. I think I might have to take a closer look. Thanks a lot for the info! 😁 🙏 💚 ✨ 🤙
!ALIVE
!BBH
Congrats men, I hope reach at least 500 HBD interest earning from HBD Savings one day.
!BBH
Congrats men, I hope reach at least 500 HBD interest earning from HBD Savings one day.
!BBH
I appreciate the structure and process of this plan. Thinking of implementing something similar for myself. Congrats on hitting another rung on your freedom ladder and good luck on reaching the rest :)