A Case For Hive Over Bitcoin

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This shouldn't be taken as financial advice, it is purely my personal perspective view of Bitcoin and Hive and what each represents for me.

It has been a year-long bear market, and the recent crash has got some of us discussing the low price of tokens opportunity presented. While some panic, some see the opportunity to increase their holdings.

I get the question every now and then about which cryptocurrency to buy, Hive or Bitcoin. While both are cryptocurrencies I personally believe in and would like to diversify into both I presently have no Bitcoin and would be approaching this article from a preference point of view.

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Bitcoin

Bitcoin remains the king of cryptocurrency, it started it all for us to be here today with thousands of cryptocurrencies now in the market. As matter of fact, I always recommend reading the Bitcoin whitepaper for anyone new and keen on getting involved with cryptocurrency, not many of us can grasp the details of Bitcoin white paper at a read but with a keen interest in reading it, it gives the idea of how it all began, what it stands for and the possibilities of what Bitcoin is capable of.

I think from the fundamental knowledge of Bitcoin everyone should be able to make a sound decision on how to relate to it.
The monetary aspect of Bitcoin has earned it the term digital gold, a digital store of value, and rightly so it has so far outperformed other forms of assets despite its volatile nature. The problem for me though is I want my Bitcoin to earn passive income for me, and there aren't many options out there to earn passively from my Bitcoin holdings. So I am left with the option to seat on my bag of Bitcoin with the hope of price appreciation.

Hive

With the market crash opportunity at present, if I have to buy any cryptocurrency, I will head the list before diversifying to other coins, and the reason is mainly that I can earn passively with Hive.
For those of us on Hive, we all know through the staking of Hive which is referred to as Power Up, a curation reward is earned, and over time tokens earned through this exercise add up. In addition to curating with Hive Power, it does play a role in governance as well which does not impact our earnings but is worth mentioning.

Hive could be converted to HBD to earn 20% APR in savings, and the same HBD or Hive could be placed in liquidity pools on Cubfinance of Polycub for returns in DeFi.
Once on Hive, the options broaden, and at some stage, it becomes a dilemma over which project to tap into as the opportunities increase.

Staked Hive could also earn you other tokens as we have witnessed in the past airdrop or the ongoing Larynx claimdrop.

Therefore earning passively is my focus, I am not good at trading, but it works like a charm for those good at it. I prefer my cryptocurrency holdings to earn yields for me. I could do DCA for Bitcoin with earned Hive, but I can't do the same with Bitcoin. One can earn passively for me, the other a store of value, they are both worth having in my portfolio but for now, the focus is to keep increasing my Hive stake.

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We owe it to ourselves to make Hive great

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Image by @doze

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@joetunex yeah I still am buying BTC, but it is difficult to earn passive income. While seeking it, I did risky things like Celsius and Blockfi. Blockfi, fortunately, was bailed out, but now prohibits US investors from continuing to pick up Satoshi passive income, but Celsius sucked.

My only thought with my current BTC investment is that indeed takes a portion of Gold's market share, and gets valued over $200-300k someday (we can all dream, right??)

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I had BAT in Celsius not much to hit my head against the wall about I just wrote it off and moved on.

An amount between $200-300k is awesome, have that in BTC and other altcoins like Hive, and one is in a fairly good financial standing.

!PIZZA

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With my luck @joetunex, it is only wishful thinking, lol - I am going to be a slave to fiat FOREVER, lol

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Let's be hopeful, am also trying to exit being a slave over here. If we can have Hive above a dollar at least things should look a lot better. Are you investing in GSL? I only bought 2 packs so far, I intend to buy more.

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Oh no...which one was GSL again? Is that part of Splinterlands?

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Lol, don't tell me you don't know about the new Splinterlands game Splinterlands is building in partnership with MSL.
You are actually getting GLX tokens daily for staking SPS.

https://goals.genesisleaguesports.com/#!

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Oh yeah! I did see that...I completely spaced that this year...terrible brain!

Thanks for the link - time to invest!

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(Edited)

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With BTC, you can try something I wrote about a while back, Core Number Compounding.
https://leofinance.io/@travelwritemoney/core-number-compounding-revisited

Simply, you choose a value, let's say $1000. It could be $2000, $5000, whatever.

Choose the value of how much BTC to hold. When the value goes up 1%, scrape off the extra to bring it down to your core number, $1000 or whatever you chose. If the value drops 4%, buy more to get up to your core number.

Doing this, you are only trading the same coin. You're always buying at 4% less and selling at 1% more. In other words, when you sell, it's always profit, about 5%.

You can do the same with HIVE, ETH, or other crypto. There's no need to research or watch charts. Just check the value daily to buy or sell more. It's not completely passive. But, you'd only spend about 5 minutes a day working it.

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This sounds like a good idea, I will give the linked article a read, it might be a strategy to implement to increase my holdings without much risk.

!PIZZA

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Balance is the key; but only Silver, Bitcoin and Gold are Money. I see Hive as the web3 data layer we need to build a better world wide web. !PIZZA

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I sold off my BTC last year to pay bills, I will look at getting back at accumulating SATS next year through DCA, no doubt a balanced portfolio is better.

!PIZZA

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I think that's one of the main problems with bitcoin, it doesn't have much use cases. You just hold it and that's that. In the long term, it will be a great idea to grab some and just keep them. But in the short to mid term, Hive offers more use cases and capabilities to earn passively and increase your investment.

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Hive offers more use cases and capabilities to earn passively and increase your investment.

And for me that makes Hive a coin I will opt for, I want to be able to increase my investment holdings consistently.

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Legacy-wise, I think BTC isn't going anywhere. From my view, it's going to be around but I don't think it can be the solution given the limitations that I see from their chain. I think there won't just be one chain but many chains and Hive is one that I think will work out quite well.

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Cryptocurrency point of view I think we are going to have numerous coins with everyone using the ones they prefer, I do think Hive will be around as well.

!PIZZA

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Enjoyed reading your reasoning to which blockchain you feel more confident in using, hopefully both will grow in time being long term different offerings.

!LUV
!WINEX

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Thanks, Joan, both are my favorite but I prefer one over the other for the passive income it earns me. I am hopeful both will be around for the long term.

!PIZZA

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Selection in how one enjoys creating income most definitely both great for totally different reasons.

!BEER

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