but if it was that easy everyone would simply wait...
You say that... AND that is what SHOULD happen, but then human psychology comes into play and everything gets extremely irrational (especially when dealing with vast sums of currency).
True, yet unless we give people reasons to hold HP I don't think it's gonna happen any time soon.
I think it's weird that everyone seems to exclusively focus on this. What reasons to users have to power up their Bitcoin? Oh wait, there is no such thing as powered up Bitcoin. Every price point is "simply" a matter of buying vs selling pressure. There are thousands of variables that go into each side of that equation.
It's one thing to provide liquidity or place a sell order and another one to "kill" every single Hive token one earns.
I had an interesting discussion the other day in discord with a guy, I won't name names. You know what label did you use for Hive? The blockchain of the poor...I was like "wtf are you even talking about bud"?
The conclusion, his conclusion, was that there are far more poor people who simply blog and kill their rewards trying to make a living off of Hive that the price might never recover...
Sure for every seller there's a buyer but whales already possess tons of Hive and they will only buy again probably when price goes 50% down from where we are now. And they'll strengthen their position...And that's how a "decentralized" blockchain becomes "centralized"... That's what everyone should do imo. Strengthen their position. Not just whales...
So ya, there's not such thing as powered up BTC but Hive is be default a place where holding HP matters.
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