I was hoping it would keep increasing into a virtuous cycle. Seems like that's going to take a bull market unfortunately.
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I was hoping it would keep increasing into a virtuous cycle. Seems like that's going to take a bull market unfortunately.
That kind of virtuous cycle is very possible but requires more powerful network effects. What we are seeing in Sucre, Venezuela could be the beginnings of that, but if so, it would still be very early days. Even in our best location, out highest penetration rate is on the order of 0.1% of people in the city of Cumana, which is tiny. 1 in 1000 people you meet there is an active Hiver, so if you talked to 100 people you'd probably not even meet one (but I'd suggest you probably have a better chance of meeting someone who has at least heard of Hive...).
These kinds of networks only have meaningful value to most people at around 15% penetration rate, because only then is there a good chance you have friends on the network. Until then, not everyone wants to be a blogger, and the network only has so much money to pay out to creators to keep them interested.