This is a video response to @elsiekjay.
In this video I talk about my vision for Hive, and how I think $Hive should be used. I make an argument that smaller creators with low HP should actually be encouraged to cash out and spend their tokens, rather than power them up, unless they really want to power up that is.
I think the buzz we can generate from people spending their 10 $Hive and bragging about it on Twitter, say, is more valuable than them powering it up.
I'm tagging @josediccus, if someone else hadn't already tagged you.
Edit: I see @josediccus has already done one. Sorry.
Peace & Love,
Adé
▶️ DTube
Absolutely in agreement with you here. As it stands at the moment, the cost of living in western countries makes it not really viable to cash out for regular living expenses, so there's not going to be the risk of huge dumping on the market from those who find it viable to cash out. Also, cashing out what is liquid isn't the same as powering down. You can still build an account from the earnings which goes into HP. I think the real key, however, is the ability to spend it directly rather than exchanging for fiat and this is why it was set with HBD as the more stable component so that companies could take it on for purchases without worrying about the volatility of the markets. Let's face it, the 50/50 payout with half going to hodling and half liquid, shows it was intended for spending as well as investing, unless you wanted to choose full investment and select the 100% powerup option.
That's correct. The two instruments HP and HBD were to give a choice between spending and investing.
We are one stop closer to a company accepting HBD the way it is. It happened faster than it ever did on Steem. I believe it will happen by this time next year.. but we have to demonstrate there's enough volume of people using it for it to be interesting to the companies.
This is a beautiful analogy and you cover so many things people are indifferent about. I will blame the culture around cryptocurrency for the way people treat hive. It's all about speculation. Even the social aspect of the blockchain is under development. The long term vision isn't even clear. Hive got to a dollar, a lot of people still held waiting for another moon. The cycle never ends. This is why I started this initiative, so people can think about what they actually want to achieve here. Thanks for sharing your thoughts
Thank you. It's a great initiative to get people thinking and talking about it.
Interesting insight. I agree , a token like HIVE was meant to be spent and the businesses will create the balance by staking. Once there is an easy way to swap hive for fiat, then the masses will come fast and HIVE will circulate. Yes this "sell out" culture needs to stop, let people do as they please with the tokens they earned.
There are already Dollar - Hive listings on some exchanges, or are you thinking of something even easier, maybe the golden ticket like a listing on Coinbase.
If I heard rumour of that I might even buy in hive at current prices!
Yeah I was thinking something easier as to many people , exchanges are complicated and they have never used one. A PayPal swap would work for some. A coinbase listing would also work for some as it’s not available everywhere.
It would take different initiatives in each region. Some third world countries would do well with a physical exchange to cash and back to hive, individuals could do this as a business charging a fee of course. But the can get complicated.
A cashapp initiative would grab a lot of individuals in the US ( not available in japan were I am ) as the app is fairly popular there from what I see. If a hiver could send their hive tokens to @cashapp account and get dollars to spend and then send fiat to a hivecash account on the cashapp to buy hive, it would make things easier for many people, they wouldn’t needy to use an exchange with candles MACD and all that good stuff, it scares the shut out if some people using exchanges lol. But again this could be complicated, but if an individual had a large some of cash and was charging 5% fee for the transaction while quickly moving some of their reserves to stable coins, they could make a killing.
If we get listed on Coinbase, we're off to the races. Coinbase Pro is where the party is :)
Indeed. Like @revisesociology said, the pair is there now. We are just one step away now from it being accepted directly once a major company decides to take it on. They'd pretty much do what Blocktrades does, but for just one currency like the Dollar or Pound Sterling.
You're definitely right, I feel we need a plan that might just naturally create a buzz about hive and this isn't really a bad idea you know. Ah yes I already participated in one
LOL. yeah, it was too late to edit that out of the video :)
Great video - it's so important in any analysis to differentiate between different types of user.
I think you're right that it's unrealistic to expect certain users to not spend their Hive.
I also think there's more scope to push Hive as a long term savings investment vehicle - if you power up a few thousand, you really can make a decent passive return on curation (risky of course!)
And differentiating between DEVS/ WITNESSEs and regular users, that helps with overcoming the resistance some people have to the enormous sums starting to be paid out from the DAO, which I have no problem with!
Well thought out, keep thinking!
@tipu curate
Upvoted 👌 (Mana: 8/12)
Thank you!
Yes I think some people are unaware that we have people that are effectively employed by us to do some things for the platform. We kind of have to pay market rate for these tasks, or they'll simply go elsewhere.
There's also the mis-categorisation of everybody as an "investor". It's supposed to be a Proof of Brain platform as well as a Proof of Wealth haha.
Thanks for your insight.
This is a very interesting perspective for #hive.
I have always been pro spending your earnings if one prefers. That was my greatest motivation when I started, and coming from a 3rd world country, I can see how this platform can be a utility platform for ppl in that kind of set up. After all, that is how steem/hive was marketed/presented to us, and that is how we continue to present it. Great Vision.
It's the little guys who do the marketing for sure.
Thank you. If I were a business operating in a "third world" country like Kenya, I would buy up something like 10 million Hive. I would then accept HBD in my business and take over the country's currency haha.
You are a man of great visions lol :D
I may just steal that idea when #HEX moons!
All this endless speculation holds crypto back. Why not spend it now to enjoy the benefits? You can still keep most it in case of 'moon'. I have spent a fair chunk of my Steem previously (guitar, Steemfest) and those brought me a lot of enjoyment. Just holding funds does not excite me. I am cashing out some of my Steem as I power down to spend, but I am buying some Hive too so I can have more influence here. I would love to see a thriving economy in goods and services.
Agreed 100%. I also paid for SteemFest using steem. The only fiat I spent was booking my £20 flight to Poland :)
You're probably not the main target of the "cash out and spend" since you are gainfully employed and live in the UK with a very high cost of living, but even now and again we can indulge a bit and enjoy the fruits of our labour - and brag about it.
If we really want crypto to replace the corrupt establishment financial system, then we have to actually use it.
Hi Ade. Your point is valid as it is important to allow uses spend their earnings as so Crypto usage is seen more rather than held and not used.
Been trying to reach you. Are you on discord? Message me on ejemai#6674.
Stay Awesome!