Thanks for great summary, sad ADA diddent hold.. and yea many are making new lows as ONT, dogecoin hehe. But I think it is soon time to dca som posisions, maybee wait for a bottoming sideways accumulation range first, like after our capitiulation of alts in aug 2019. Last time I had to hold them for 6month before the pump and retest of jun highs came this summer, so no rush as long as BTC is bullish they should keep on bleeding until dominance drops maybee..
Well, this is the thing with crypto you can manipulate prices for SOOOOO long... Remember SBD at 7USD ? It lasted for a while.
As long as you control most of the supply and have money you can pump it, then slowly sell on top, then pump again later etc... and make very good profit
I view that as counterintuitive because if Hive seeks to exist as the base tech for future projects then the bandwidth purchase needs to appeal. A low stable Hive price attracts many projects to build on Hive. Provided the tools exist by then. Which is what SBD was meant to be. So the opposite: a high price means any project needs millions to start up if they bring over a decent community needing lots of recourse credits/network bandwidth.
I know the general consensus is that if many projects build on Hive then that creates buying pressure for the Hive token but as I mentioned you would be hurting your attractiveness if that gets high.
Just like property development, the price of land although not cheap, is still a fraction of the total value of what gets built on top. A developer might buy a well positioned plot for a few million but then a high rise tower with housing, retail and social services ends up priced at hundreds of millions when complete. So who would build that high rise if the land alone was hundreds of millions?
Hive needs to finish its base.
Create that robust second layer.
Exist as a wholesale chain.
Attract anyone and everyone.
Fast forward 6 years..
Hive: a robust chain with hundreds of projects built on top and a trade market of all those tokens utilising Hive. Then the Hive token exists as an "entry fee to the Casino" and you can win big by backing projects. That way the chain still promises riches and can deliver.. but doesn't hurt attraction.
That's my view.
Edit: evidently that's what Ethereum is. By offering a base to build on it has attracted masses. However it's proven good to attract but not be the best to sustain.. because the flaw is the fees are passed on to the end user. Those fees could be seen as RC and they're high because the bandwidth is at a premium.
Supply and demand. Simple math, of course it depends on the givens, in this case that there will be dozens of top tier cryptocurrencies priced at fair value.
Ethereum isn’t exactly cheap to buy - and their fees issue is not applicable to HIVE since our scaling ability is thousands of times better than theirs - but if we limit our analysis to price, ETH would seem to suggest that the building continues in spite of price, or perhaps even because of it.
In any event, in order to bring the “per unit” price down, all you need to do is “split”. Look at AAPL for example: if it had never split, its shares would be selling for $23,949 now instead of $108.86. (Source) On the other hand, with SATs, maybe that’s not needed.
Either way, regardless of how much supply there is, the price will always be a function of supply and demand. Look at the Cardano example for evidence at the other extreme. It all depends on what you think is sexiest I guess.
Regarding the idea of crypto being a ‘casino’, unless you’re referring to ETH and ERC-20, I have to disagree on the whole. Crypto is not zero sum. It’s a growth sector to buy and hold. The only people who get hurt in this kind of underlying super bull are those who mistakenly treat it like a casino, again, when referring to what is legit. (Obviously, with the scams, it’s the gullible who get hurt, like always, and anywhere, but that’s the scams.)
Great response man and thanks for elaborating. I respect your view so this is why I asked for your opinion on how you envision Hive going to $100. Coincidentally, others are talking about the relevance of RC now too and also making the comparison to ETH GAS.
See that was my point that if we flipped blockchains and this was happening on ETH then the gas fees would be RC and it would not be the same experience. So that's why I think and wonder.. if the price of HIVE goes up, and the userbase is also large, then wouldn't that mean that purchasing RC for a new project becomes expensive in the same way lots of transactions on ETH end up costing too much?
The solution, which is a hot topic, is to separate RC from the token and have the token exist as the asset and RC as the bandwidth which could even now be lent out for things such as mass on-boarding. That makes sense so I wonder why it didn't happen already. Obviously I have no clue how that would happen but it needs to happen. Making a community for instance requires RC that a new user doesn't have. That works against growth of the platform and leaves a bad taste since the game is essentially pay2play.
It kills the buzz of "Leave the greedy tech giants and choose blockchain."
It is painful watching every smaller drop of bitcoin erode a chunk of all coins, before bouncing back and leaving them behind. That said I feel like BNB has done reasonably well.
Thanks for great summary, sad ADA diddent hold.. and yea many are making new lows as ONT, dogecoin hehe. But I think it is soon time to dca som posisions, maybee wait for a bottoming sideways accumulation range first, like after our capitiulation of alts in aug 2019. Last time I had to hold them for 6month before the pump and retest of jun highs came this summer, so no rush as long as BTC is bullish they should keep on bleeding until dominance drops maybee..
!ENGAGE 25
!tan
ENGAGEtokens.As I stated many times this alt correction was expected (risk-on assets therefore correlated to Stocks Markets, Health situation...)
On the other side I was not sure if the safe-haven narrative was going to Hold this time (compared to March) and it clearly seems like it did.
I have been vocal about an easy Long BTC/Short Altcoins that I am keeping at the moment.
I love shorting shitcoins/scams suchs as Chainlink and Ripple ! 😃
@tipu curate
Agree...but ripple is still holding, it should be go to the toilet
Well, this is the thing with crypto you can manipulate prices for SOOOOO long... Remember SBD at 7USD ? It lasted for a while.
As long as you control most of the supply and have money you can pump it, then slowly sell on top, then pump again later etc... and make very good profit
!ENGAGE 25
!tan
ENGAGEtokens.!ENGAGE 25
!tan
ENGAGEtokens.Might be getting a little long in the tooth ...
What is your view on the future price of Hive?
The person buying today is buying a clear 1,000x prospect, IMVHO.
Time will tell. ;)
!ENGAGE 25
!tan
Congratulations, @cryptographic You Successfully Trended The Post Shared By @chesatochi.
You Utilized 2/3 Daily Summon Bot Calls.
TAN Current Market Price : 0.201 HIVE
ENGAGEtokens.That's $100. What is your logic?
I view that as counterintuitive because if Hive seeks to exist as the base tech for future projects then the bandwidth purchase needs to appeal. A low stable Hive price attracts many projects to build on Hive. Provided the tools exist by then. Which is what SBD was meant to be. So the opposite: a high price means any project needs millions to start up if they bring over a decent community needing lots of recourse credits/network bandwidth.
I know the general consensus is that if many projects build on Hive then that creates buying pressure for the Hive token but as I mentioned you would be hurting your attractiveness if that gets high.
Just like property development, the price of land although not cheap, is still a fraction of the total value of what gets built on top. A developer might buy a well positioned plot for a few million but then a high rise tower with housing, retail and social services ends up priced at hundreds of millions when complete. So who would build that high rise if the land alone was hundreds of millions?
Hive needs to finish its base.
Create that robust second layer.
Exist as a wholesale chain.
Attract anyone and everyone.
Fast forward 6 years..
Hive: a robust chain with hundreds of projects built on top and a trade market of all those tokens utilising Hive. Then the Hive token exists as an "entry fee to the Casino" and you can win big by backing projects. That way the chain still promises riches and can deliver.. but doesn't hurt attraction.
That's my view.
Edit: evidently that's what Ethereum is. By offering a base to build on it has attracted masses. However it's proven good to attract but not be the best to sustain.. because the flaw is the fees are passed on to the end user. Those fees could be seen as RC and they're high because the bandwidth is at a premium.
https://hive.blog/steemit/@cryptographic/what-s-steem-really-worth
https://hive.blog/cardano/@cryptographic/what-s-cardano-ada-really-worth
Supply and demand. Simple math, of course it depends on the givens, in this case that there will be dozens of top tier cryptocurrencies priced at fair value.
Ethereum isn’t exactly cheap to buy - and their fees issue is not applicable to HIVE since our scaling ability is thousands of times better than theirs - but if we limit our analysis to price, ETH would seem to suggest that the building continues in spite of price, or perhaps even because of it.
In any event, in order to bring the “per unit” price down, all you need to do is “split”. Look at AAPL for example: if it had never split, its shares would be selling for $23,949 now instead of $108.86. (Source) On the other hand, with SATs, maybe that’s not needed.
Either way, regardless of how much supply there is, the price will always be a function of supply and demand. Look at the Cardano example for evidence at the other extreme. It all depends on what you think is sexiest I guess.
Regarding the idea of crypto being a ‘casino’, unless you’re referring to ETH and ERC-20, I have to disagree on the whole. Crypto is not zero sum. It’s a growth sector to buy and hold. The only people who get hurt in this kind of underlying super bull are those who mistakenly treat it like a casino, again, when referring to what is legit. (Obviously, with the scams, it’s the gullible who get hurt, like always, and anywhere, but that’s the scams.)
Hope this is helpful. Good to see you around.
Great response man and thanks for elaborating. I respect your view so this is why I asked for your opinion on how you envision Hive going to $100. Coincidentally, others are talking about the relevance of RC now too and also making the comparison to ETH GAS.
See that was my point that if we flipped blockchains and this was happening on ETH then the gas fees would be RC and it would not be the same experience. So that's why I think and wonder.. if the price of HIVE goes up, and the userbase is also large, then wouldn't that mean that purchasing RC for a new project becomes expensive in the same way lots of transactions on ETH end up costing too much?
The solution, which is a hot topic, is to separate RC from the token and have the token exist as the asset and RC as the bandwidth which could even now be lent out for things such as mass on-boarding. That makes sense so I wonder why it didn't happen already. Obviously I have no clue how that would happen but it needs to happen. Making a community for instance requires RC that a new user doesn't have. That works against growth of the platform and leaves a bad taste since the game is essentially pay2play.
It kills the buzz of "Leave the greedy tech giants and choose blockchain."
I don't see how it does. There's no such thing as a free lunch - everything has its cost, and the better the product, relatively more.
!ENGAGE 25
ENGAGEtokens.It is painful watching every smaller drop of bitcoin erode a chunk of all coins, before bouncing back and leaving them behind. That said I feel like BNB has done reasonably well.
It is frustrating, I agree, but our day in the sun will come.
!ENGAGE 25
!tan
ENGAGEtokens.