Saturday Savers 2024 Progress Report - Week 43

It's Saturday, and time for my #SaturdaySavers update !
Week 43 - only another 9 to go before the end of the year.

Image created by AI in NightCafe Studio

Here's my table of progress for the week;

How Did The Week Go ?

It was another good week in terms of Hive productivity.

But saying it like that makes it sound like a business, which it isn't really, it's a hobby that just happens to generate some earnings. I'd love to earn enough on Hive that I could withdraw enough to live on and still grow my account in line with inflation ! Maybe one day I'll do the maths on that, although it seems that currently the only way to make an actual living on Hive is to run a node and be one of the top 20 witnesses.

Posting

I've managed another week of posting every day, which is particularly impressive considering my lifestyle !

Doing this consistently for two or three weeks now is starting to show in terms of HP earnings, which are averaging around 45-55 a week since I started posting more consistently.

But I need to make 10 posts a week to hit my posting goal. Yes, that might be possible, but it's a secondary concern; my prime focus is still on maintaining post quality. It's pointless to post any old rubbish just to hit an arbitrary target I set for myself. But it's also crazy that some of the quickest posts to make get the best results in terms of earnings, and others that I'm really proud of and put massive effort into fizzle out and earn just a few cents.

In terms of being on target, I still need to do more. Right now, I need to average 83HP a week if I'm to hit target. Some of that will come from the HPUD's between now and the end of the year, with the next one being next Friday.

HBD

A brief spike in the price of HIVE last week meant that one of my trades on HiveDex kicked in, which bought 10.5 HBD. It's the first purchase in a long time, because most of the liquid HIVE I bought was at higher prices than current.

The way I'm working the trades is that I keep a running figure for the current AVCO (average cost) of my liquid HIVE, on a FIFO (first in, first out) basis. With SBI purchases, the older HIVE bought at a higher price has been gradually used up, dropping the AVCO slightly. I then add a small amount on to account for fees and slippage, and that gives me the minimum price I want to buy HBD at.

But unless HIVE comes up in price fast in the next few weeks I'm unlikely to make my target. I'm okay with that; the interest rate is still good, but I am still working my way back towards my secondary goal of earning £30 in interest each month. It's frustrating that I hit it and almost immediately afterwards the interest rate dropped so I missed it again. 🙄

Some Thoughts On Curation

Something I've been good about even when my posting mojo has slipped is curation. If anything, it feels like I just haven't got enough voting power for all the great posts I like to upvote.

Curation is an essential part of HIVE, after all, it not only determines people's earnings it also one of the key ways to show support to your fellow Hivers.

All my curation is manual, and I read all the posts I upvote. I've got mixed feelings about automated voting through curation trails. I thoroughly appreciate the earnings, but it's sad that automated upvotes mean that these are people who haven't actually read what I wrote. But for those short of time, or who are away on holiday or business, an automated upvote is better than no vote.

But then there are those people who create posts and expect to earn from them, but who don't reciprocate by doing curation themselves. I wish we could persuade them to curate, and personally I feel that Hive should move towards a model where less HIVE is created through DHF grants to projects and more is created by rewarding curation.

A good metric is to look at Hivestats.io where you can see anyone's curation APR %. It shows curation earnings as well, but the advantage of APR is that it strips out the distortion of account size.

I don't know what would persuade people who don't curate to start doing so (I'd love to hear some ideas !), but perhaps we could do something within Saturday Savers, a competition of some kind maybe, to reward those with the most improved curation APR.

HPUD

It's HPUD next Friday. Yaay !

Are you ready for it ? I'm going to try to buy a little more liquid HIVE in the next couple of days.... gotta hit that HP target somehow 😁

If you're not familiar with SaturdaySavers, it's a fabulous initiative run by @shanibeer writing as @sally-saver on the @eddie-earner account, where we all support each other in getting to our savings goals.

If you are one of my friends reading this (or just someone who tripped over one of my posts), I really recommend this as a great community that's well worth joining.

I'm normally very disorganised about saving, and the support of the wonderful people in #SaturdaySavers has been invaluable in keeping me focused. I can honestly say that without it, my HP would probably be half what it is now.

So join ! You don't have to wait until the start of the year. The best time to start saving is ten years ago. The second best time is right now !