I saw an interesting Snap today that I wanted to share and discuss...It was from @geneeverett and he brought up some pretty big points. In case you want some context, here in a link to the Snap but I also took a screen shot here:
We're down big...
Like over 76% this year alone and yeah I get it, crypto as a whole is in this never ending bear market but Hive hasn't held the same excitement in the markets that it once had.
What is going on?
So being the 'stirrer of the pot' that I enjoy being at times, I brought up the question...What 3 things would or should we change to right the ship here on chain.
Look, let's talk positives first...
The development is still here! Over the past few months alone, I've been beside myself with the amazing apps that have popped up from @snapie to @sportsblock and the mind blowing update of @threespeak
To me, when I see devs and projects building like this, I can't help but be excited!
So on that aspect, I do think things are pretty good on chain. The devs are building some amazing things.
Now the bad...
In response to my question from the Snap, one thing and one thing alone seemed to pop up as problem number one on chain...
The DHF
Oh wow, what a cluster this thing has become. What started out as a great idea and a way to 'stick it to Steemit Inc', the DHF has now become the hot button topic of controversy on chain.
I have to be honest, there are a lot of politics behind the scenes when it comes to the DHF. And a bunch of projects get paid quite well to 'serve Hive' with the funds they are getting.
If they are truly serving the community or not, isn't my place to say either way. I enjoy and use some of the projects that are funded and there are a bulk of them, that doesn't really hurt or help me.
But what does hurt is the sell off of Hive, no one can deny it.
And thinking that the DHF will just stop funding certain projects because we are grumpy isn't going to happen either. The problem is and always has been, when anyone brings this up we're told to buy more stake or shut up.
O.K., that's fine if you have endless pockets but a huge chunk and I mean a huge chunk of the community that actually uses this stuff every single day, aren't ripe with cash.
One account one vote maybe? Oh boy we don't wanna go down that rabbit hole either lol
I honestly don't know what I would do...I do think, the DHF needs a very hard and long look at. And while it may not be an answer everyone will agree with, maybe we start finding ways to burn more tokens. Who knows...
I started with some positive, threw in some concerns but I want to end with some positives...The price of this token is SUPER cheap right now for us to accumulate more. And it doesn't have to be buying up millions of it, but right now at around 6 cents, I can't help but think this is a great opportunity if we believe in this chain.
Don't have the funds? (Like me lol) DO what I'm doing...Create MORE! At 5 bucks worth of rewards per post, we are generating a LOT of Hive. Get it now, because it's easier to stick out and get noticed.
So to recap...
Positive - Devs are creating some amazing things here!!
Negative - The price is down big, and the DHF seems to be the culprit.
Positive - It's a great time to be very active to snag some more Hive!
The fact that new apps are emerging shows there's still potential here.
that’s one thing we can all agree on. hive has always had huge potential
The DHF (Deadline for Hire) isn't Hive's main problem; it's simply a case of looting due to poor design. Hive's main problem is that it expels users from the ecosystem, creating what in modern societies we call "legal uncertainty." Nobody is going to invest money in Hive or create a serious project only to have it kicked out overnight by a capricious whale simply because they don't like it. When bots were opening accounts on Splinterland like there was no tomorrow and Hive was shrinking, nobody was worried about the DHF. Hive is the only company/social network that expels its customers/users.
I agree. This is the time to accumulate more Hive, either by buying for those who can afford it or earning through content creation, like I'm doing too. 😂 Just this morning, I received 43 Hive from @hivecreatorsday for participation in one of their contests. That's what I haven't earned from a post for years now.
We can only hope for better days on Hive. I believe that we'll smile sooner than later.
!BBH
Cristo es el Rey ..
I think now is the right time to accumulate more hive either by active on the chain or buy more. Even though I haven't witness this kind of downtrend on hive before but with the looks of things. Devs are still creating amazing things on the chain and that's shows have still get the potential to bounce back again. Great post buddy.
It's two good positive things, but I seriously think the DHF needs to change. We don't have the stake to make a huge difference, but I think they will only understand when Hive drops down even further.
76% feels brutal but yeah
no recovery yet