Can we save Hive?

in LeoFinancelast month

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It is not fun news, but it is reality, Hive is currently trading at 1168 satoshi. That is incredibly low. Off course we have been at 0.138 USD before, but for me the real value of Hive is rated in BTC terms. And there we are at an all time low. And that should be a real warning sign.

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Especially when it happens just after a Hard Fork, then it really means that the project is not really rated well by the broader public. And we should act on this. But how?

Well, there is the monthly Hive Power Up Day or HPUD on the first day of the month, in which lots of minnows, dolphins and orca's power up. But what effect does it have, when whales power down millions of Hive every week, and dump them on the market. I know I am acting on dangerous property here, but that is what is really behind this price slide. A constant sell pressure held in place by whales.

But for how long can those whales keep on doing this, before even their millions of Hive aren't worth a dime anymore? Not so long, in my humble opinion. They should wake up, and realize that as long as this dumping is going on, the value will drop. Despite of the good things that keep on happening on the platform.

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If this wakes up, at least one whale, I will be happy, but I guess it won't!

Sincerely,

Pele23

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We need to somehow find ways of attracting investors and I don't get why those DAO funds are not used for this thing.

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The DAO fund is used to further enrich the inner circle. They prefer to milk that pool until the game is over.

Then they'll hard fork again and create another token. It's all about money after all. That's why I've been powering down and selling for months... The circle jerking has migrated from Steemit to Hive and will probably never die. It's too bad this project doesn't deserve the attention and care that it deserves. Hive could be big in the cryptosphere.

Indeed. But I still do have hope, so I am in for now.

I have hope too, but I'm cautious at the same time.

Yeah, we are at the all-time low... and you are probably right about whales... But, I hope that dump from "bad whales" will create some better whales tomorrow, and that happens on the markets regularly... Saw that in some of the tribes on HiveEngine, and it worked well at the end...

The most important is that there is development on the chain, and things are building every day... Until we have development, we are doing good... Don't want to compare ourselves with other crypto-projects, but I'm happy that HIVE had an actual use-case...

We will get out of this... ;)

The more development that takes place, the bigger the attraction to Hive ultimately. People will not come for Hive but for whatever front end attracts them. Of course, this will take some time yet it is how a lot of these chains work.

We need all the decentralized bandwidth to store the data. It is only a matter of time before the volume goes through the roof. It all stems from what is developed and build on here.

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Ten cents appears to the line that many are watching. At this point, I ignore the price of HIVE. Too many people want to focus upon it as a barometer of what is taking place. Yet if we look at a lot of the other highly ranked blockchains, what is going on with them? When you investigate, there is not a lot.

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I don't think we should blame the whales. I think we have a problem of bad advertising combined with a lack of business plan here. Honestly, I don't know how to fix these problems but we should easily apply some of the measures already used on LEO, for instance, allowing ADS and burning the earnings obtained in order to stabilise the HIVE price. Use part of the DAO FUNDS for marketing would be another point to test as well... anything better than nothing but... here we are, changing the code for...nothing?

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For me, I am just buying more.

Unfortunately i don't think it can be saved my friend. I hate to be the harbinger of bad news. I think the only hope is projects on it like bitcoin myk..that's more multichain and not only on hive but still better than what exist on hive today. The big problem has alot to do with the incredibly high inflationary rate each year. In addition to that onboarding is just too difficult a process with not enough reason to join. Most applications are designed for experienced writers which doesn't resonate with the majority of people who use social media moreso for quick 5 minute messages. Statistics suggest we only have about 5 mintues per social media encounter. So this wouldn't be appealing to the majority of people. The gaming apps are generally inferior to other standard comparable apps and will suffer little significance in usership.

Next is there is just not enough incentive to join. At first glance one would think Facebook and Twitter don't pay users to post and Hive is better. That's unfortunately not true. A big issue is hive posters factor their value against their local currencies rise and fall. Whereas Facebook and Twitter users factor their value on community and friends. Which will win out everytime because there is more value in community and friends than high inflation fiat currencies in local communities. So that means the true value is where all your family and friends are.

Also is the internal funding Dao. This turned out to be nothing more than a way for developers to pay themselves without addressing the fundamental problems on the platform. So one big issue is business people venture capitalist left dpos years ago and left developers who unfortunately believe pure technical development wins out over practicality. The other issue is because it's mainly developers making the decisions now. There is a lack of economic model understanding.. philosophy.. market psychology many elements that cryptocurrency space introduces due to its complexity we don't understand. So without further insight and this concentration of decisions to developers alot of important factors go undone.

Bitcoin MYK is the answer because it's a multichain project. We factor it can gain about $2 billion of value. A UBI project that stabilizes into a global currency through deflation. Even if a very small portion of what we believe to be our trickle down economics impacts hive.. We could see it adding another $100 million to the hive marketcap. The cryptospace has pushed hive out of the top 100 to the 130-150 spots. Meanwhile many altcoins although whilst losing their value have not lost their coin positions. Hive has tremendously. I would suggest hive look deep into the structure of bitcoin myk before its too late. I fear it will get worse before it gets better and i certainly suspect a sub 10 cents hive. Project like leofinance which i think have done a very good job with introducing metamask wallet users to connect to hive, now bare the problem of the hack which i believe had a negative impact on the product and it may spawn many not to want to trade their ethereum out for hive with the possiblities of ethereum being so valuable in the upcoming months. this spells bad for hive. Bitcoin MYK uses bitcoin cash onboarding system and you're able through our gateway to move bitcoin myk to several chains like hive , waves and soon polkadot and ethereum as well as many other applications of social media.