When I started out playing with Crypto I (like many others here) began on STEEM. I always saw a lot of potential with STEEM and while it was never perfect, there were enough positives that I wanted to persist in those early years - even after crypto went into a savage Bear Market in 2018. However, after the big fork I made the decision to go with HIVE and leave STEEM behind. There were a number of reasons for this but overall I firmly believed that HIVE had a future and STEEM would probably slowly die off...
Source
However, it hasn't. Take a look at the chart above where it looks like STEEM has actually outperformed HIVE over the last 12 months in relative terms. This is hard for me to understand WHY that actually is. HIVE is more Decentralized, has it's own DAO driving development and has a number of cool ecosystems within it - such as Splinterlands. Yet to my (admittedly limited) knowledge STEEM doesn't really have much development going on at all...if any.
So, what's the story here? On STEEM there seems to be fairly rampant Vote Selling still going on while HIVE has cleaned up it's act a lot in recent years. The SBD (STEEM Backed Dollar) has had a broken peg for years now and is basically non-functional as a Stable Coin. From a Community perspective HIVE again seems like it's streets in front of HIVE. To my eye HIVE is seriously undervalued by comparison, or maybe STEEM is just overvalued? Maybe there is something big that I'm missing or maybe there's manipulation at play?
Anyone care to throw an opinion out there as to why STEEM has outperformed HIVE over the last year with seemingly nothing really to justify it?
My thoughts... they have all the Koreans. Huge market. In addition, they don't chase people off. Hivewatchers and many of the larger accounts on Hive seem to go out of their way to chase many of our new users off. Someone comes on, posts something one of these groups don't like, and they are placed on an downvoting list from which they can't get removed, so they just give up and leave. As long as Hive keeps shooting itself in the foot like that, we will never grow. I haven't really looked at Steemit since the fork, but I'd be surprised if they chase new users away with the passion that many here seem to do. Lastly, our PR is terrible. Hive has 20% APR on one of our main tokens. Yet those who control the pursestrings of Hive are too busy enriching themselves to give a shit about trying to attract anyone with that great APR. From what I understand, Steemit on the other hand uses the high price of SBD to attract people, broken though it is.
But why does chart say hive is .18 cents? Am I missing something ?
My honest opinion is that all of the 'morality policing' and so called 'abuse fighters' on Hive is what holds it back. It's a very difficult thing because on one hand you want to have a platform that draws interest from the outside, but doesn't look like a huge dumpster fire, but on the other hand messy is what the web/internet is.
You have people who write garbage posts and get a little group of friends together that upvote each other. Then a group of whales and their flag trail come in and basically downvote them to zero making the statement that 'you are not a good fit here'.
Ultimately, what you end up with is a justice league of large stakeholders writing "Just OK" posts and getting big upvotes. If your stake is large enough, you can even shit-post and not get targeted for fear of being retaliated against.
Also, people are punished for blogging to multiple platforms. If you post on Steemit as a Hive user, then you are basically a traitor. If you post on another platform and then post it to Hive, it is treated like spam and not original. If you re-post something that you posted 5 years ago, that didn't get any views - yet the new post is a hit you'll get flagged to zero if certain whales find out.
So those are some things I believe are keeping Hive down. Steemit is a total dumpster fire, but has a massive asian user base. They are used to being censored, so it is nothing new. I believe that new people coming in keep the price bolstered while large stakeholders manipulate the market and make it seem as if things are moving and shaking. But with zero development and minimal effort it will continue to go nowhere except filling the pockets of the largest holders and top sock puppet witnesses.
Absolutely. And meanwhile, HW just got more free money from the DHF to continue their crusade to scare away new users.
Content creators hedge by being on multiple platforms. Nobody bet on a single platform to be censor-free or perpetual monetisation. You have HW dictating people to post on Hive first or it’s considered spam/copy/paste that abuses the reward pool.
The DHF fund isn’t being used to fund things of value aside from the infrastructure and HBD fund. It’s mostly paying full time salaries for hobby time work. And imagine paying Hivewatchers $350 a day for “policing” abuse worth way less than what they downvote each day.
Lastly, when it comes to op ed here, it’s more of an obscure enclave of msm line of thoughts. That’s totally unattractive to most consumers out there. Especially when larger stakes come around to downvote things they consider propaganda, which is damn ironic.
I can't argue with that. My posts questioning the jab in 2021 got wrecked! Along with my questioning USA getting involved with Ukraine conflict. I sadly gotta agree
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Not sure I can share anything meaningful without it turning into a dissertation, but let me see if I can cook up an "elevator speech" version!
Part the 1st: Steem/Steemit has major support in the Korean market; specifically centralized exchanges in Korea and Asia, in general. It was a demographic that was largely cut out of Hive as a result of the fork. Tons of content on Steemit is published in Korean. And Chinese. On any given day, the trading volume of Steem is about 2-3x the trading volume of Hive.
Part the 2nd: "Decentralization" is not something that matters to most people, especially general content creators. So we're basically proud of something that's actually very niche, as far as the greater world is concerned.
Part the 3rd: Hive seems to increasingly be heading down the road of becoming a "utility token." That is, it gradually becomes less about Hive and more about stuff ON Hive. Utility tokens aren't that "sexy." Unless Hive can scale up towards being another Ethereum, or BNB, or Tron (Yes, I just said Tron) that have huge numbers of dApps running, I doubt the price will move very much.
Part the 4th: My impression is that Steem/Steemit runs on a fair bit of hopium now. Justin Sun and the Tron Foundation have all but entirely divested themselves of their interest in the Steem blockchain. Steem is back to running independent witnesses, rather than appointed sock puppets. It seems like a new kind of community — mostly Asian and Spanish speaking Central/South American — has risen in place of what once was there.
All that said, Hive is definitely undervalued, while I'd say Steem is probably close to "fair value."
I fear perhaps the Hive "persona" has gotten a little myopic and too proud of things that don't really matter to the crowd that could actually help it take off and grow. Our precious "fund" isn't invested in such things as having full time exchange liaisons and PR people to just pound the streets with press releases and a *"system blog" that gathers and outlines every new development happening on Hive. Instead, we're developing "new stuff" that largely get presented to... OURSELVES.
Splinterlands' success came from its enormous external reach, and from the fact that you could grab your Visa debit card, and BINGO you had entry to the game... OH! And a Hive account, to boot. Ease of access.
I'm going to stop now, because this is the point at which I start slamming my head on the keyboard, and it's not pretty!
Of course, all this is just my opinion!
=^..^=
According to SimilarWeb, Steemit has 4.4 million monthly visits, but on HIVE, there's HiveBlog with 580k, PeakD with 1 million, Ecency with 214k (they have the app, so it's not possible to measure), and LeoFinance with 129k, totaling approximately 1.9 million monthly visits.
The chart needs to be read as the Hive Y axis is on the left and the Steem Y axis is on the right. So in actuality, hive is higher than steem. Hive = 0.31 and Steem = 0.23.
It's not a price chart. IT's performance but wait on second look yea I'm confused!
I'm not sure what you mean. I am looking here at the CMC comparison for Steem price vs Hive price and it's essentially the same graph as above.
I had edited my previous comment before I saw u replied. I corrected my first statement by saying wait on second look yea I'm
Confused!
Yea I checked. It’s just competing performance. It’s correct that Hive underperformed Steem over this period by around 27%
Koreans. We chased them off, for better or for worse, time will tell.
!DHEDGE
It is irritating, worth asking as to why!
I thought it was only sweetsssj and friends collecting any tokens over there.
One thing i did notice when checking old posts yesterday is all my links prior to hive point to steemit. I wonder if updating all of these would help in any way - probably not :)
That's not a bad idea. It couldn't hurt. Thousands of posts on Hive pointing to Steemit... every one of those is a bit of link juice that would contribute to steemit having a higher rank on Google. I hadn't thought about that, but I have started updating my steemit posts to point to Hive. I started doing that about a month ago. It's slow going though, because I moved over all my STEEM after the fork, so I can only edit 1-2 pages per day before my RC runs out.
Pretty sure the chart is off , Steem price has not been higher than hive for a while
It is confusing though, I see what u mean. Edit - actually... I think ur right! Something is off , but it’s correct that Hive underperformed by over 25%
It's correct. Look at it again, it's not the token price, it's 12 month performance chart.
I'm so lost what are the numbers on the other side then ? !BBH
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More people playing games with the market, rather than making investment decisions based on actual productivity and quality content.
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Plus why they double the activity.
Same reason why stupid ass Doge token is ahead of Chainlink and Litecoin…… stupid people putting money into stupid things.
This is the semi-semi-semi-annual numbers go up time.
And so, the numbers went up. STEEM is older, so more number goes up.
There is no fundamentals here, there is not reason, rationality, meaning.
Why does it say .18 cents for Hive? Very confusing. I originally corrected someone else pointing this out and said it’s performance not price but on second look I’m confused
I think it's about performance indeed, I think this value of .18 cents doesn't mean anything. All I know is that HIVE lost 27.50% in value and STEEM gained 2.10%.
It’s a gambling market. For periods of a year or two or so it can make no sense at all. I’m not worried about it.
I myself started my crypto journey with steemit but as we all know the story I also stopped using it and moved to this platform. More is better and things look very good to us here and we will see that within the next bill it will also give people a good profit.
I feel Hive needs to do better and especially in the aspect of welcoming new accounts. So many new accounts are stranded because they can’t find their way on the platform and don’t even know how it works
I’m sure we’d grow with time
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As @dbooster, @enforcer48 and @curatorcat.leo clearly exposed in their comments. The serious problem that has Hive plunged into total stagnation & decline and by which it is always surpassed in the cryptomarket by any shitcoin that arises or will arise in the future.
It's nothing else but the belief of the current Hive whales, a few Orcas and above all the handful of early Steem ninjaminers still here. Who believe themselves to be the exclusive and sovereign owners of this "social network" on the blockchain. That they believe that they all are already members of a Type VII Civilization and everyone else are just hordes of scammers, spammers, plagiarists, reward farmers, poor peasants, parasites and leeches that only come here to devalue the loot that they have already lavished, in a not so dignified way only for themselves, since long time ago.
And to verify and confirm this, all you have to do is solely take a look at the valueplan's wallet, snoop a little what DHF proposals they are supporting with their high HP stake, check which users they are downvoting and trying to chase them off from the platform and simply taking a look at one or another of the many statistics that can be found on the blockchain.
In conclusion. That none of them can afford the luxury that some new opulent investor comes here, surpass and displace them from the temporary control of the chain and their privileged position until they have squeezed the maximum benefits from this.
And therefore they will never invest in professional marketing and advertising or any effective public relations efforts that will truly put Hive at the pinnacle of people's attention to show them all the benefits and advantages of our blockchain technology.
And in consequence, it's already more than clear to me that they do not want any more new users or investors here who can threaten their current control, authority, privileges or supremacy until they can leave the project with the profits they once dreamed they could obtain.
Can't really argue against this...
Exactly, a brief look at the hard facts does not leave room for further discussion. };)