Grow Your Stake First Before You Delegate
Accumulation and growing our crypto bags is all we can do right now and very little has changed with the mind set still the same as what it has been for the last 42 months. The good thing which is a major plus is by being on HIVE we know how to grow, accumulate and compound our stake. Unfortunately many on HIVE don't quite understand this and are happy to delegate a high percentage of their stake away for a return vote or some tribe tokens. I will get onto why this is such a bad idea further in the post.
It was just 12 days ago I mentioned my HIVE vote value had reached 7 HIVE and today it hit a high of 7.08. This is important as it basically allows you to earn an extra 0.4 HIVE via curation daily. These are the small wins that I monitor as it vindicates the time and effort it takes to remain active and consistent. HIVE is not easy so being able to support others with a higher value vote whilst your stake is growing is rewarding to see.
I know there has been some talk going around regarding people delegating their stake with the problem being some users delegating a majority of their stake which is absolutely bonkers in my mind. Stake is what helps you grow and more importantly your stake helps the community grow. I some ways this is no different from self voting as you are only thinking of yourself and we know without the community support you will not grow.
There is nothing wrong with delegating a percentage of your stake, but between 40-90% is seriously crazy. If you are banking on support from a project you are delegating to think twice at what real value you are getting in return. Everyone thinks differently and I only started to consider delegating when I had sufficient stake and it would not impede my account growth. What about the other accounts in the community who would also like to grow yet your account has no value because you have given it all away. I have seen accounts going backwards in dollar value because of what they are doing and they will regret their actions.
Your vote along with a comment and reply is your growth tool on HIVE as this is how you engage with others and grow your following. What we see happening with so many users is nearly as bad as the bid bots that plagued our blockchain may years go and it seems this is like another version of this today. Keep your stake and grow your accounts as there are no short cuts, your stake should be a precious commodity yet many do not see the true value of how it helps you grow.
My account has taken over 7 years to get to a vote value of over 7 HIVE and I just see a high percentage of accounts thinking they are playing a smart game. The reality is if I had done what they are doing I would be lucky to have a 3 HIVE value and more likely to be under 2 HIVE. Be selfish and grow your stake first because it helps not only yourself, but others you curate in the process. I spent a solid 2 years before I even considered delegations because stake is that important for growth.
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Giving out more than 40-90% of stake might seem selfish but some do that to support the community they belong to. But overall, for those delegating for the benefits it is totally fine but that is if you already have a value you can give out to others just as you get.
Yes that is how I see this as well. You can support a community, but not at the expense of your growth. If you have value d ca still grow your value you are far more value to the community or communities you are delegating to long term. This delegating out a huge percentage stunts their overall growth and it is going to limit their success on HIVE.
I've started to get into the habit of reducing or eliminating my vote for people who delegate away the majority of their stake.
that is a very nice argument about Hive vote value
I grew my stake for over 2 years on HIVE, now I am delegating but starting to accumulate my own voting power as well
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Delegating too much stake too soon would be most efficient especially for young accounts like mine. I’d rather build mine first so I can help others better later. Slow growth will beat quick rewards
100% correct and is common sense yet others do not see this and actually give themselves zero chance of succeeding.
thankfully I read this post before any point in the future where I had to decide on delegation. It's now in my mind that I would need the huge stakes checked out first
You don't need huge stake before delegating, but at least leave yourself with enough to be able to grow. I only considered delegating once I hit 50K HP and even then it was minimal.
50K, I'll just follow that rule thanks so much man, that's the benefit of experienced people here, they can give awesome advice like this. Thanks a lot !BEER
I tried to explain that "phenomenon" by the fact that newbies don't know how curation works... The response is always the same: "My upvote is too small that it's better for me to delegate out my HP"... And because of that, HP never grows "enough" to be kept... Also, many times I hear from newbies that "Others told me that it's the best delegate to "big curation" accounts and to post in OCD, GEMS, or other communities to "grow faster""... That makes me sad the most... 😞
Hive is promoted as a milking cow... 😤
Regarding big accounts with a lot of HP, I don't see a valid excuse at all.. It's not just being selfish, but rather not caring about the platform and token distribution....
Yes the new accounts thinking it is a short cut instead of a dead end which it is if you do this. Token distribution is important and what allows everyone to grow so delating big stake solely for delegation is really bad. The curation projects are questionable as to who they support and delegations should not be the requirement to receive a vote.
Agree... and not just that... 10 curators that work for 1 curation project can't "cover" the number of posts that 100 users can... Small people manually curating are doing a much better job for token distribution than 2-3 big curation projects...
Yes. Very valid point and had not even considered tis.
I am not doing any delegations, having stake gives me control what I upvote and let's me control my curation APR.