Saturday Savers 2024 Progress Report - Week 23

It's Saturday already ! It's lovely weather and I've spent most of the day in the garden trying to tame an overgrown flowerbed.

But now it's time for my #SaturdaySavers update for the week !

Image created by AI in NightCafe Studio

Here's my table of progress for the week;

How Did The Week Go ?

It was a kind of ordinary week. I did a decent number of posts, but need to increase the posting rate just to catch up a bit with days I've missed. It won't take many to get back on target with my goal.

Something I'm noticing is that post rewards definitely seem to be down. While I'm still lucky enough to get posts that get picked up by curators and do well, the payout for "normal" posts is definitely down, and I'm seeing a few usernames absent who used to regularly provide upvotes. It makes me wonder if the reducing price of HIVE is making people lose interest in the platform.

Talking of the HIVE price, I did buy a little more liquid HIVE to take advantage of the current dip. But I'm starting to think that each dip is just a precursor to the next one. It would be nice to see the price go up in a sustainable way for a bit !

With the low HIVE price it also makes little sense to convert too much into HBD, even though it's the part of the ecosystem where I make the biggest gains. I'm still following my DCA plan (where I can pick a value to buy each week on a scale that gets me the same amount purchased by the end of the year), but using values at the lower end of the amounts I can choose from. It also looks like HBD is struggling to hold it's peg, not to a serious degree yet, but it's clearly under pressure.

But I really do hope that HIVE's price does go up ! Right now, it's one of the best Web3 ecosystems in terms of what it can do and the opportunities available to users. It bugs the heck out of me that it's so undervalued compared to a bunch of speculative meme-coins with absolutely no real use case !

A collateral impact of the low price of HIVE also seems to be the number of projects and utilities which are getting glitchy. The number of times I'm seeing node errors or very slow transactions has increased notably, many Tribe Tokens appear to have been abandoned or lost most of their value, and there are a couple of projects (notably SBI's) where I'm looking at finding alternatives to use.

I have a feeling that most of these issues would disappear if the price of HIVE went up, ideally to the mid 30 cent range. But what we really need to see is a consistent steady increase in the price on a timescale of months, replacing what feels like a slow steady downward slide.

The only way to increase the price is if more HIVE gets bought on exchanges with new capital. In order for that to happen, we either need to get into the wider news in a positive and viral way, or launch something that grabs the popular imagination in the way Splinterlands did.

Here's hoping - Hive deserves to gain mass adoption !

Anyway, that's enough waffle from me ! How was your week ? Don't forget next Saturday is LPUD 😁

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 !