At one point or another, you might have stumbled upon a graph like this one, which represents how cutting edge technological developments get adopted by users:
This one is from Geoffrey Moore's book, ''Crossing The Chasm". On the left, in INLEO colors are members of the early market, innovators and early adopters, the people that are excited about the fundamental ideas and features that new technology such as blockchain, is able to offer. They (us?) are excited about being ahead of the heard for competitive advantage, whereas the next group of people (early majority) are motivated by something different. They want to see more traction in the product before jumping on board. So you have "the chasm". A gap right after you get some adoption, but before you reach adoption by a larger group.
This is a place where in the traditional business world, startups might have received some initial funding in the form of seed capital and have now spent it getting the idea off the ground, building the team, iterating and developing the product and are now low (or out) of cash to reach the larger, more pragmatic majority who thinks very differently than the early adopters.
What to do?
How to cross the chasm?
Let's find a target market that is Big enough to matter, but small enough to win for us.
Us Hiveans all want a market cap of $34.71 billion. This is known and well calculated number. How did I reach it? well easy...
500,000,000 tokens x $69.420 per token = $34.71 billion
Everybody knows the true value for $HIVE is $69.420 per token.
On Hive, we have approximately 30,000 MAUs, whereas Facebook has 3.049 Billion.
Now, expecting Hive to grow to 3 Billions individual users is ludicrous in my opinion. But we could certainly think about reaching a more reasonable number. Maybe 100K MAUs or 200K MAUs? 1 million?
This number looks absolutely sexy to us, but would look insignificant to Mark Zuckerberg or Elon Musk.
If we solve a problem for this group of people, they will be loyal to the protocol.
You might have heard Khal or Task say "one thousand true fans", well, how about 1 million true fans?
We can't go after EVERYBODY, let's not lie to ourselves.
But we can go after a niche.
FOCUS (like a magnifying glass)
Geoffrey Moore, recommends that when a technology startup is in the middle of this chasm, it should focus on a single use case for its technological solution. Your software (or SaaS) will have many use cases, just like HIVE has many use cases, but you should pick the one that is really compelling, and for the time being get adopters... one by one... by one on THAT particular use case.
This is what build the word of mouth and the reputation of
These guys are really good at this use case
We need to start the fire somewhere
Campers... how do you build a fire?
Do you grab a match and put it to a fat log and expect to start a fire? or do you put together some dry leaves and add some twigs and maybe grab your magnifying class and keep it in one spot for a while?
If you keep your magnifying glass on the same spot for a few seconds, you might be able to start a very small flame that you can slowly but surely add some more leaves, kindling wood and eventually some larger twigs and logs.
What use case to focus on?
In my opinion, the strongest, most compelling use case for HIVE is at the moment is Bitcoin Lightning payments.
We can carry a wallet around on our phone with $HBD we've earned from adding value to the network and pay instantly and shops that accept Bitcoin over Lightning.
That's why I'm focused like a magnifying glass in promoting this use case.
Every chance I get, I make a video of myself going through the steps:
- Open Hive Keychain, click on the browser
- Go to V4v.app
- Open the camera to scan the QR
- Sign the transaction using Keychain
- Smile for the camera
These are just a few examples of how I'm promoting this amazing use case for Hive Keychain + V4V in real life:
https://peakd.com/hive-151961/@alex-rourke/xhnhspef
https://peakd.com/hive-151961/@alex-rourke/nsxqczdc
https://peakd.com/hive-151961/@alex-rourke/wbqphjpp
Will I contribute to lighting the fire of adoption for HIVE blockchain?
We'll see.
If I can inspire one person to do what I do, we can inspire two. If we can inspire two, we can get four. And.... you get the idea.
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!giphy you are welcome
!PIZZA
Via Tenor
I think that's the beauty, and difficulty of Hive. We have a lot of options available to us. Compared to BTC and ETH which are mostly financial related, or to Polygon/BNB which are usually attributed to games/apps/NFTs, Hive has these and more. We have the social aspect in blogging/videos/images, games/apps/NFTs, financial with V4V and Hive Engine, and the potential of text based database [for Wiki, or medical database]. There are more, but I don't think we are promoting them enough. So I definitely think that what you're doing is helping.
Hive has many things, yes. But after reading Geoffrey Moore, I think we need to focus on promoting the most compelling use case. When more people start using Keychain + v4v to earn $HBD, they will talk about it and more people will start using it. More importantly, they'll start telling their peers. Soon enough we will have a pond, a niche group of people who love using Hive Keychain to pay for food. Once that's established, we can create another pond of folks using freedom tools to pay for food or we can also focus on another use case.
I guess that's true. I noticed that one of the biggest hurdle new users encounter is the earning part. They get a good amount on their introduction post, but notice that their succeeding posts don't get much views and votes. I guess if they post on the spendhbd website, they might get more consistent returns.
👏 Keep Up the good work on Hive ♦️ 👏
I am curious. Can I use v4v.app in any business which accepts crypto/bitcoin and just use my hive to pay or how does it work? :D
Any business that accepts Bitcoin Lightning payments will be able to generate a Lightning invoice QR. You can scan this QR with your @v4vapp and pay it directly.
It's all the same to the business.
Can a business use/accept bitcoin but not use the Bitcoin Lightning?
I know of a business accepting Bitcoin in Denmark, so I wanted to see if I could use v4v and pay with HBD ^^ :D
Wow
How is the true value of $Hive $69.420?
That will be very fantastic if it comes true?
It is known.
#hive #posh
Great post Alex. Sometimes it's the small steps and showing what can be done that leads to these bigger jumps. I hope this chasm can be crossed!