WP started out primarily as a blogging tool.
The default home page for BuddyPress using the bp-default theme is the blog index page like you see at http://testbp.org/
If you want a static page in front page and have a “blog” link read https://codex.wordpress.org/Creating_a_Static_Front_Page
Remember that Buddypress is in essence simply a plugin that requires a WP install to run on thus you have a blog the main WP blog, there is no option as such for it it exists either on the front page or as mercime points out is moved to another page in the static front page scenario.
So WP/BP IS the blog and the post are the post for the blog. If you want a series of post then thats just a category NOT a separate blog. I understand. For some reason I though there was maybe a separate link for “blogs” like there are for members, groups and activities. Really that separate link is just the “categories” page.
== I though there was maybe a separate link for “blogs” ==
There’s a major difference between a “blog” and “blogs”. You get “blogs” link if you transform your single WP into a multisite install (or create a network) then allow your WP/BP members to create their own respective blogs.
wp in multisite/multi-user mode is for multiple blogs on the same installation, if that’s what you mean…
https://codex.wordpress.org/Create_A_Network
EDIT: darn it – beaten to it by moments….
@aces thanks for the link to create a network 
Thank you guys. I think I understand WP just a little more. I dont think I need multiple blogs. I guess post/categories is really what I am looking for. I really appreciate all the help.
@mexxa84 what you want is blog on the activity section right where ur user can write blog just frm the front end of ur bp site?
the same i m also searching for …one click post is probablly the one bt it is not running in my case try that …may u can help me with that
