I didn't think it would be hard to create new goals for 2024, but I had a hard time creating them! What's even worse is that I was actively thinking about it for the last couple of weeks and when you come to the end of the post, you will say... "You were thinking for weeks to get to ONLY 3 goals?!" 😃 Well, yes... 😃
The problem is with experience combined with expectations... When you are longer and longer time in the cryptocurrency world you are raising the bar for your future investments... You probably invested in many tokens that went to (almost) zero, and you are more cautious... If you had some good tokens, maybe you are in the positive, or maybe you don't care about the numbers and just having fun with tokens... In any case, I'm that person who implements experience in the next actions/investments...
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HIVE isn't as big as you think... When you find people who are actively participating in the ecosystem by creating different games, projects, and tokens, you realize that maybe only 10-20 people are involved in that... It's not that hard to research 20 people and see from where they are coming, what their reason for running a project is, or what are their views on HIVE... Not rarely, you have the same person running more than 1 project, so you kind of know in what direction will go in the future project... People like to stick to the patterns, and if they work (for them), they repeat them...
On the other side, occasionally, we see new people coming into space creating their first project... In that case, you have a blank canvas which is "hard to read" and investment risks are much bigger, but on the other side, the ideas that those people bring are fresh, and innovative, which is always nice to see!
Now that we have 2 groups of potential investments, it is easier to pick good goals for 2024, isn't it? Nope... 😃 From my view, I would rather invest in a new project by a "new person", than go into the "old guys" and their project... It's nothing personal, but a simple look at Hive-Engine tokens will be enough to see that most tokens are going in one direction, or they are heavily FOMOed and hyped... Of course, there are exceptions... So, what did I pick?
Hive Power
There is a huge expectation, by the majority, that crypto (and HIVE) will go up in value in 2024... While I have also a similar expectation, that doesn't mean that it will happen... Because of that expectation, many people are already planning profit-taking (myself included) in 2024 and as a result of that, not many people are adding their HivePower to the #MyHiveGoals posts... To be honest, I had an idea to add the HBD goal for this year because of the same reason... Moving some HIVE into HBD to take profits, which will probably happen, but not by powering down my Hive Power... I don't have any plans to power down in 2024 (and probably in the future either)...
But, how will you take profits, ph1102? I watched a lot of interviews with Michael Saylor and in one of them, he said that he would never sell his Bitcoin! When you know that you can earn HIVE by using Hive Power, the question is how he is "using" his BTC to "earn" money... Well, he has different "products" backed by his BTC stash!! So, my main idea is to have a similar thing with my HivePower and use it as a backup for "raising" money in other places... You can use it for curation, you can delegate to other projects, you can use it to build your brand, or you can help out with your project...
So, in a year when everyone will focus on HBD and taking profits, I will try to ignore the noise and continue building my Hive Power... I will not push as hard as I did in 2023, but I will try to reach 100K HivePower at the end of 2024! I will take some profits selling other tokens in the Hive ecosystem and with the right timing, I hope that it will be enough profits taken...
Liotes Diesel Pool
The "second goal" to pick was the hardest one... Because of all that I wrote at the beginning of the post, I have huge trust issues with the Hive-Engine tokens... As I'm a co-owner of the project that has tokens on H-E, I know that it is not a "perfect platform" and it has its pros and cons...
Just the fact that I have TRUST issues is already a problem... Blockchain and cryptocurrencies are invented exactly because of that... To avoid "trust issues" as everything is (should be!) coded, and you don't have to trust a person, but the code... Unfortunately, token creators on Hive Engine have more power over a token than they should have... I mean, you have to create a token at the beginning, but the possibility of changing the token parameters, minting additional tokens, inflating supply, etc. shouldn't be possible in a later stage... As transactions are transparent, everyone can see when these things happen, and they happened, a lot of times...
Because of all that, I couldn't find a token in the Hive ecosystem that I could say that I "see at the end of 2024"... Except one... The token that is connected to Liotes, the project that I run along with @achim03... I could come to the temptation to do some crazy things like some other token creators, but the probabilities are much lower that I (or Achim) will do that...
Because of all this, I will try to grow my liquidity in the SWAP.HIVE:LEN diesel pool and double my current position! At the moment, that pool doesn't have additional rewards except for trading fees, but growing my "stake" in it will be beneficial for many reasons... One reason is that I will grow my LEN holdings and I believe that token value will go up (it is setup to work like that)... Second reason is that bigger liquidity in that pool is a guarantee of price stability and lower volatility... That will help not just the token, but also all token holders and those who want to buy or sell a bigger quantity of tokens!
Disclaimer. We didn't (manually) mint any LEN tokens from the creation of the project and we don't plan to do that ever! All tokens that are circulating are created by staked miners (LENM tokens) and it will continue to be like that... So, my current holdings are tokens that my staked miners "earned" as anyone else can do too... Even the LEN tokens that you can see as rewards in the other diesel pool (LEN:LENM) are bought from the market and added as rewards! Because of all that, we as tokens owners have the same reasons to work on a token value as any other investors!
Gaming Goals - RISING STAR CARDS!
This year, I have decided to have only one gaming goal and it will be similar to my last year's goal... I will try to collect 30K Rising Star cards until the end of 2024, which is almost double of my current number... Last year, I was trying to reach my goal ONLY by opening packs, but this year, I will probably BUY some (older) cards from the market too... Because of that, I will maybe raise this goal throughout the year... As it is just a game, I don't really find this goal as something that I have to worry about... So, I will have a relaxed and flexible view of it...
Finishing goals from 2023
Last year I reached all goals but one... I was short for 455 LEO tokens and I failed to reach my LEO Power goal... Like I said in my last #MyHiveGoals report, I have continued with accumulating tokens... The price went down a bit, I used that opportunity and I bought the rest of the tokens to reach my goal! So, just one week into the new year, I have reached that remaining goal from last year!
25000 LEO Power accumulated!
This is how my initial numbers are looking and my goals for 2024, created on January 7th, 2024...
MyHiveGoals 2024 Edition - The Beginning!
- As it is hard to follow the value of the tokens inside the liquidity pool (price fluctuations), I have decided to follow the "SWAP.HIVE:LEN Shares" number which you can find when you look at your liquidity positions...
Join me in this awesome #MyHiveGoals and let's grow together! It is fun, motivating, and will keep you focused!
Thank you for your time,
~ph~
PS. None of this is financial advice of any kind...
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