I actually made that graphic, almost proud of myself.
I'd be even more proud if it didn't have shitcoins on it.
Yes, Shitcoins.
Did I just call HIVE a shitcoin?
Yes.
Seriously, where do we rank on any list for anything right now?
RIGHT NOW.
I know what was done in the past and the things that were accomplished, but where are we right now? Right now, we are ranked lower than the legacy chain that we splintered off of and ran away from with our tail between our legs. Was that a smart move? In hindsight, probably, though a little more thought could have been put into the name and several other aspects, but it is what it is. Community involvement was not a key component to the fork away from STEEM.
Has anything really changed since then?
The price sure has, and so has the active user base.
The graphic above, I put in here to show over the past month, just how much of a peg there has actually been to a dollar. I think the 'stabilizer' is just putting sell pressure on HIVE. But I don't really know a lot when it comes right down to it.
I've thrown my hat in the ring a few times with the hopes I would be heard, but do they really want to listen? No. They (old ninjas and top stakeholders) have their own agenda and it's almost as if they don't want Hive to be a top cryptocurrency, because, it fucking should be.
All the talk I hear about potential and this and that, but where is it? Where is the massive marketing campaign and serious play to be a top blockchain so that actual investors and builders are going to notice and want to set up shop here? Other chains are passing us and getting the paparazzi's attention. If Hive is going to survive, that has to change.
Yes you're seeing that right. STEEM is worth more than HIVE now. It's an abomination of the highest order. But who cares? Let's just keep milking this cow until her tits are so dry that the milk tastes worse than ass butter from a sweaty hippo.
Why do you even care Witty?
I may have bought some HIVE in the past.
Guess that makes me an investor, one of those ones with hopes that I'd see less heads in asses and ball stroking and that the potential everyone keeps mentioning, comes to fruition.
HIVE has dropped almost 80% over the past year. Why? Who is selling so much? Somebody know something we don't? Don't give me that it follows Bitcoin crap anymore, because it doesn't. There is no rhyme and reason that I can see. One thing I can do is rhyme. You already know and one thing I do know, right now, HIVE's lyrics need a lot of work. Oh, and if you happen to be up reading this bullshit, REMEMBER TO BE YOU! I always am, because I give two shits.
I believe we are here where we are because of the "small difference" which is written on those 2 screenshots you shared... HIVE's total supply is double that of STEEM... We have managed to inflate our token at lightspeed...
If I were a potential investor, why would I buy a token that has 20% inflation, and I can earn 11-12% in the best case by staking (and curating) it? Just to speculate on the future price? It's not 2016 anymore, and we have millions of tokens for speculating...
On the other hand, I wouldn't neglect the value of the chain itself... It is useful, and there have been many improvements since our hard fork time... and it's much superior to the legacy chain, for sure...
What we fucked up is tokenomics, but it looks like that, for some reason, doesn't bother those with the big(gest) stake...
Interesting discussion... Thanks for creating this post... Will share it with others... ;)
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Been calling this place home for awhile. Yes, the tokenomics and suggestions to alter thereof, fall on deaf ears lately. Appreciate you coming bay man !PIMP !UNI !PIXY
I've often wondered what the "ass butter from a sweaty hippo." would taste like..... I'm glad it's not just me!
Starting to get that bad taste in you mouth too? !PIMP !UNI
I don't see the HIVE market price as relevant measure of value of the HIVE blockchain or anything much at all.
HIVE was never intended to be an investment instrument. Store of value was never an important part of the rationale for HIVE.
The HIVE blockchain provides the basis for a community; a decentralised, censorship resistant & essentially free place to blog; a decentralised, permissionless database for developers; the ONLY surviving algorithmic stablecoin; a medium of exhange and much more.
The only thing the HIVE price needs to do is be high enough to make being a top 20 witness profitable. We are an order of magnitude off that threshold. Costs of running a witness are dropping all the time. Faster than HIVE price has been dropping.
The HIVE price is irrelevant to most of those things & only to HBD indirectly and in extremis.
The only thing the HIVE price needs to do is be high enough to make being a top 20 witness profitable. We are an order of magnitude off that threshold. Costs of running a witness are dropping all the time. Faster than HIVE price has been dropping.
So focussing on the HIVE price vs the legacy chain or any other misses what HIVE is really about.
Then why have any publicly traded token issued at all? The price makes all the difference, especially to those that use it as a paycheck and 'cover costs'. I'm going to cordially agree to disagree with several other points you made about decentralization and community. As for the survival, I believe that only exists internally and you would be missing USDS (formerly DAI), that is listed on virtually every major exchange out there.
Great comment man, appreciate you stopping by and dropping some knowledge !PIMP
I've written a full post expanding my points above and answering your question.
https://peakd.com/hive/@apshamilton/hive-price-is-irrelevant-but-hive-is-primed-for-ai-era
Thanks for inspiring my post.
Not by my reckoning but as you say, what's done is done.
I started writing a reply but it became kinda long so posted it instead:
https://peakd.com/thoughts/@acidyo/is-hive-oversold
I really never thought we would be at this point. Sad...
Me neither my guy, it is sad and frustrating. !PIMP !DUO !UNI
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I had never been on Steem but after joining Hive, I kept on hearing about the bad things happening on Steem and then how pretty Hive has been in comparison to it. I am still seeing people being hopeful about Hive, I have no idea what makes them so. Nonetheless, I want to believe them because I invested in Hive when it was at a much much snd much higher price. (It's another thing that I don't feel like believing)
It's so evident now that Hive is not following Bitcoin or else.
I have no knowledge or hope to offer in this regard, just a wish for Hive to thrive
Best hope you can have !PIMP !UNI !PIXY
That's the only thing I can do about Hive right now
Hive has no potential investment wise. If you don't change anything how can the price magically go up. Let's face it, it will trend to fluff all of a cent squared.
It is a fun system where you can play games from 20 years ago and keep in touch with your friends around the world.
But as for investing, yeah shitcoin is where it is at.
This is the uncomfortable conversation Hive needs. 😅 Potential means very little if adoption, users, builders and visibility aren't growing with it. I still believe in Hive, but belief alone won't make it win. We need execution.
A person once said hold out your hands and let the shit pile in one and hope pile in another - see which one fills up first.
PS Nice graphic by the way! You should be chuffed with that..
I think bots trading large volumes are helping this...
If I am right, the two tokens will be pegged for a while... until the people who are doing give up on one side.
Where there is money to be made, I see no towels being thrown in.
Yep, at least is visible :P so that's working as designed.
What is the possible solution we have now? The big bulls should stop selling or anything else?
Get rid of the haircut rules and drop the peg, give the free market its due and it would alter prices quickly.
It’s really strange to see Hive being undervalued compared to Steem. There was a time when Hive would consistently trade at around twice the price of Steem but now Steem has overtaken Hive in terms of valuation.
I don’t know who is behind all this selling. Even recently, whenever Hive starts pumping it cannot hold the peak price even for half a day. The sudden selling pressure quickly brings Hive back down to the ground. This is certainly not a good sign.
I don't find it strange, but rather insulting. They don't have a peg that insists on selling STEEM to keep SBD at a certain level, so it was only a matter of time in my opinion !UNI !PIXY
Yes I agree with you. Despite having such a good mechanism in place we are still seeing Hive’s price lagging behind.