(Note: Not an expert in blockchain, cryptocurrency, Hive)
Does HIVE increase value when new users join the blockchain, if the users buy HIVE tokens, or is there other reasons?
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I have tried multiple times to answer this question, but something weird is happening with the quello.io interface. Hopefully it will work this time.
Hive is a currency and a commodity. It has value as a utility and it also has value as a currency. As a utility, when staked (powered up) it gives the user influence in 2 ways;
As a currency, it holds a value because of the trust that people put in it, and for that, the blockchain is essential. The blockchain database is an unchangable record of all transactions. It is run by the Hive network which is decentralized. It is also attractive as a currency because it allows fast feeless transfers using common names as the wallet address. This makes it extremely easy for anybody to buy and sell on hive.
Thanks for this @moeknows, Hive really has similarities to real money, the more you have it the more "power" you have.
Hi @moeknows,
What was the issue you were seeing related to creating an answer on Quello?
Done some testing a couldn't replicate anything obvious.
Thanks 👍
It's hard to explain, but it does something weird with the keyboard. I couldn't select text that I had written. It also wouldn't let me access the clipboard. Like if I clicked out and went to the url box, everything worked fine. It also wouldn't do simple things like capitalizing the 1st letter of a sentence. Weird.
Thank you, I will do some testing surrounding this 👍
Thank you, and thanks for developing on the hive blockchain.
HIVE increases in value if:
And that has nothing to do with blockchain as it. The same can be done with other blockchain or "system".
Thank you so much @scorer, I see that it isn't only a "one answer" question. From what I understand is it's the also same with any business startup, it needs a demand to use the product and also active customers to buy it, to make it all work.
Governments with FIAT money and banks have failed miserably. I'm starting to see that we are going to have a multi-currency world and those are going to be crypto currencies or people money.
So, this blockchain is just a playground for a better future. It is not about THE blockchain, but about which blockchains are going to survive and succeed. HIVE is not the best one, but it has a viable product and has some community to support it. Survives not the best ones, but the ones that are actually used by people. HIVE is just a fork of STEEM. 😉
This got me thinking so deep 🕵🏼♂️ So does this mean diversify?
Yes.
I believe in Bitcoin as a stablecoin in blockchain world like USD that we have in FIAT world. And then comes many utility tokens based on POS or DPOS. HIVE could be one of them.
I checked coingecko and that's a lot of *coins.
Thanks for sharing @scorer, you really help me think deeply about this. I'm from the other part of the world where these technology has not yet reached the common people like me (well now I have an idea already), we don't even think about forex because we only deal with local currency.
Might be the best time, to study (and be active), because someday in the future, those who have crypto/tokens will hold the bigger buying power while those who have nothing will be work harder to have some.
What I'm thinking is that these will overpower Fiat someday and getting a piece of the cake will be harder as time goes on. Like now, you'll need to shell out a large sum to get a good piece of Bitcoin, how much more when crypto/tokens will become the only mode of payment in future. (Though I'm not an expert in Economics/Accounting, or how the government/countries will adjust to this, so what I'm saying might me wrong.)
The value is based on valuation by people, which is basically decided by asks and bids on exchanges. So yes, buying and selling is a big part. Of course part of that is perceived value, part of that is amount of actual use and part of that is usually temporary market manipulations. New users can definitely help the value of HIVE grow, although not in the same amounts as e.g. BTC because of the differences in token generation (HIVE is basically constantly produced).
Thank you @lapingvino! I still have a lot to learn, not just for Hive. Because of Hive blockchain I've started buying ETH, BTC, and XRP, which I still don't know how it works—or why people has "confidence/trust" owning a part of it.
Hey there,
it's dangerous to invest in something you are unfamiliar with.
Don't invest in something just because thousands others had done so.
https://www.preethikasireddy.com/post/what-do-we-mean-by-blockchains-are-trustless
Hopefully that was useful. Glad to see new adopters.
Wish you success.
Thanks for the advice! Will try to ask around and research too, I'm getting interested with this new techs. But yea, I didn't even have experience in stocks which sounds like the same, so I'll be careful 👍🏼👍🏼👍🏼
Hey there,
Hive is the coin powering the Hive Ecosystem which is what all these dapps are built on.
In the future, as the project develops, more people will join and purchasing Hive as investments and for Power Ups are quite an incentive considering the increase in influence you will enjoy with more Hive Power.
And obviously, more people buying Hive creates demand and therefore, the price rises.
:)
Thank you for that clear answer, I understand it better now. 👍🏼👍🏼👍🏼