The Hive community has a ton of unrealized value. Not just in terms of market cap of the token but simply the people themselves. Justin Sun knew this; smart guy. That's why the vulture capitalist was so eager to assimilate us into his own network at such a discounted price.
Why is that?
If you're like me and you've been around a few years, it's easy to forget the overhead cost of onboarding. Simply figuring out what the owner/active/posting keys do can be a pain for those who don't know any better. The same questions are asked over and over and over and over, and they will continue to be asked.
- How do I use my keys?
- How do I safely transfer funds?
- What is the value proposition here?
- What is proof-of-brain?
- Who controls the network?
- What are some good tips to build a network and value?
- What kind of future potential can we expect?
- How do I trade my rewards for other assets?
- What is an NFT?
- When SMT?
- What is a Witness?
- What is consensus (POW/POS/DPOS)?
- ...
Truly, the list just goes on and on.
Surely some of these questions have open-ended answers that are open to extreme interpretation, but if you showed this list to users on the Hive network, most people could answer most of the questions. Knowledge is power and has a lot of value.
Turns out crypto is pretty complicated. Doesn't seem that way for a lot of us because we already did our homework years ago. It's like being flabbergasted that grandma can't figure out email. Why don't they 'get it'?
Truth be told, we would still be on Steem right now doing Sun's bidding if he had played his hand correctly. He was holding four-of-a-kind with the ninjamine but didn't realize the community holds the royal flush to trump all the nonsense he put us through. Had he backed off and been less aggressive while showing he had value to offer we never would have left in the first place. Instead he double-downed his position into the dirt, and now he owns an empire of such.
It should be obvious by now that the reason ol' J-Dawg was willing to spend millions on the network is because, even though the community is small, we pretty much know exactly how Tron works due to our exploits on Steem. For anything we don't already know, we have a platform designed to educate others and even pay to distribute that information in the form of "quality content". It was a seriously no-brainer purchase brokered by incompetent leadership on its last legs. Too bad he didn't realize how community works as a master of corporate culture.
So JSun got caught with his hand in the cookie jar, and ended up getting stung pretty hard. The Hive has moved on without him. He no longer gets access to a community that automatically knows all the things in advance.
- How to use a centralized exchange.
- KYC overhead
- How to use a self-hosted wallet
- or even a hardware wallet.
- How to transact using a DPOS platform.
- How to vote on a DPOS platform.
- How to be diluted by inflation on a DPOS platform :D
It's not a long list, but even a short list of things to figure out is a huge barrier to entry. The Hive community has already climbed that hurdle and is looking for more on the daily. Now that LEO has these LITE accounts onboarding just got way easier, thereby making it more likely that new users will figure out the platform on their own time rather than slamming into a brick wall right at the start of their journey.
We live in a culture of instant gratification. If signups are harder than providing an email address or social media credentials, then signups are too difficult.
Analysis
We have something that a lot of other networks don't have. Where do other networks go to talk? Where are the Link Marines? Where are the XRP zealots? What about those leet Ethereum devs? They're using centralized services like Reddit, Twitter, and Discord.
We also use these services, but the ability to transact directly on chain and be able to click an upvotes button that 'simply' 'creates money out of thin air'? That's legendary. And the market certainly doesn't reflect that value at the moment. That's just Speculation vs Fundamentals. The broken clock is right twice a day. The Golden Cross will collide eventually. Bets on 2021.
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It's not legendary until consumer buying power is locked in. The money does not come out of 'thin air', it becomes far more valuable as more value is locked in. Hive doesn't need speculators right now to dump the token and ditch the project as soon as quick profits are realized. It needs loyal consumers acting as investors, getting a return on money they typically throw into the fire. Rewarding content is not where the potential rests. The potential - unrealized and highly misunderstood - comes from eliminating the middleman, giving consumers thousands of reasons to invest in the form of content rather than one reason in the from of an idea or blockchain, and giving consumers who can outnumber creators one million to one at times the opportunity to put their disposable income to good use, rather than throwing it away. Those consumers reward the content, not the blockchain.
I liked you better when you were constantly on LSD.
JK, all fantastic points as usual. I would add to this that we need more ways to recycle value within the community and plug these bloody leaks. We need more fiscally responsible whales who stop falling into the FOMO traps of the crazy volatility of this place. Buy low, sell high. Lower the volatility to attract more users who are afraid of it (vast majority).
Apart from the financial side, there are tons of other developments we can make around here to create a thriving successful atmosphere rather the constant impending dread of breaching new all time lows.
For the past several years, almost daily, I'm watching consumers fund content online directly. The amounts are growing and growing. Yesterday I watched Tim Pool host Alex Jones again, in the chat I saw $20 bills flying everywhere. Yesterday an artist made headlines doing the NFT thing attracting half a million dollars within minutes. Meanwhile I'm here, sounding crazy for pointing out that money, being told, "Content isn't working so we need to change everything in order to appeal to crypto investors," months ago watching artists get downvoted severely for earning 'too much', pretending to be protecting a reward pool from 'leeches' who now make millions attracting consumer investment elsewhere, and I know full well we'll be playing catchup after having that market of consumer money wrapped around our finger for years and not even noticing.
Want the value to rise as the crypto market falls? Tap into the other market that exists. That money flows in nonstop. It's annoying pretending we need to be attached to the hip with all other crypto projects.
Anyway I should probably just shut up and go back to my corner.
I think it's time for you to make me a sandwich.
What was that about LSD?
Are you dodgy?
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wow dude, you got it
I have my moments.
xD
cuz hive tends to become more and more socialistic.
that's not decentralized
Sounds pretty decentralized to me.
Sounds exactly like what crypto is at the idealist core.
I think people confuse social and community with socialism and communism.
Hayek said that free markets are social and stressed that they do not have to be made social (we do not have a free market economy in germany, but a "social" market economy).
it's completely the opposite, hayek said:
The more free a market is, the more social it is.
it is like we try to put the mouth stuff on the horse from behind the horse..
we try to force freedom and peace - wtf
and if you look closely we do that with everything.
we force equality.
and communists/ socialists are masters in this mindcontrol/ marketing / fucking with philosophy, see marx..
“The argument for liberty is not an argument against organization, which is one of the most powerful tools human reason can employ, but an argument against all exclusive, privileged, monopolistic organization, against the use of coercion to prevent others from doing better.”
― Friedrich August von Hayek
Couldn't even create his own account to dump a heap of stolen tokens into.
That was hilarious.
lol almost forgot about that... and I'm fairly sure he didn't click the button that said "delete keys from our server" which is how we got access to the funds and transferred them to Bittrex... double hilarious.
Gah, hahahaha... idiot.
There is no community on the internet, certainly not globally. This is where individualists meet who want to imagine that a community idea can be created through purely online activities. Whether it is bank money or crypto money, it is merely an idea, not something real. This game that money creates community has been going on for centuries, if not millennia, and the only thing it has achieved is that the idea of money makes people anti-social.
The common man looks for sources of income, at best "passively", so that he does not have to work for it. So that the common man can then turn to the really important things, a social community, for example, or build himself a house of mud or wood, father a child and so on. Cryptocurrency is built on exploitative principles just like other money-making.
It is true, at first glance, that it is made out of air. But that's not so, of course, because we all need a computer and ongoing energy to be able to carry out all the "transactions". At the end of the chain there is always someone or something who pays the price. But we don't see or hear it.
Interesting... not quite sure where you are going with this. Everything is a scam and the Internet is an illusion? I mean when you hit the ground running with "There is no community on the Internet," you know you're in for a wild ride.
You must have a very interesting definition of what a "common man" is. Sounds like a douche who doesn't want to provide any real value to society, leeching as much value as he can. Judging by what you've written here, you're not going to be a fan of the rampant automation that's going to be unleashed on this world. Would you rather that humans work jobs that they hate when robots are better at them? Perhaps it "builds character". "Pick yourself up by the bootstraps."
I met my ex-girlfriend on the Internet. We didn't meet in person for a very long time. Let's say six months just for the sake of argument. By the time we did meet, we had known each other six months, because the time we spent together on this magical illusionary internet was actually real. We were together for a decade after that.
You legit just made the argument that everything in life is a zero-sum game and it's impossible to generate value from thin air. In order to gain something you must take it from someone else. This is false, plain and simple. Rampant abundance and synergy is everywhere, and any idea to the contrary is rooted in toxic vulture capitalism and imperialism.
Hello, thank you for giving me feedback.
I would like to answer, referring to what you commented and asked:
Community according to my definition is being in a real relationship with the people and living beings who live in my reachable, local environment and who, if I mess up or someone from this community messes up (or the opposite), would notice it directly in the respective reactions. Where I don't have a personal relationship with anyone, a sense of community has trouble to grow or is more like lip service or marketing. An internet community where people don't meet in real life, where one person is in Germany, the next in India and another in Africa, what do you think they can do together?
But if you have other examples, I would like to hear them.
I can't define normality, at most craziness. Who wants to say what a normal person is?
For me, "society" is something quite different from "community". I live in a society, unfortunately.
Right, I am absolutely not a fan of automation. Neither am I a fan of "bullshit jobs". Is there something in between - or apart/other - for you?
No, I don't believe such nonsense as that assembly line work builds character or that people go from being dishwashers to millionaires, for example.
I'm happy for your ex-girlfriend and you. In my opinion, dating through the internet does not yet have much to do with community. A community works in its own organisation and direction on something that serves the common good, such as the eco-villages (the only example I can come up with right now). There, it is not about money profit, but about learning various skills by creating different tasks, such as permaculture, creating water retention basins, food production, etc., etc. The less you align yourself with full automation, the better, because otherwise you degrade into a total idiot, if you ask me. Of course, one needs technology but some, which is understood by the user.
Every form of activity for money has its counterpart in the tangible world and consumes resources, such as energy and computing power (software and hardware), in the case of Bitcoin cryptocurrency, for example, a lot. Someone, after all, assembles the individual components needed for these devices. Somewhere the coal is fetched for the electricity or the nuclear waste is disposed of. Somewhere people are working on a dam or seeing the effects of generating grand scale energy in other ways. Something is constantly being taken away from someone.
Many actors in the so-called Internet community don't care about public spirit, they are here to make money, nothing more. Whoever provides content and what exactly they write doesn't matter, the main thing is that they are active.
My assumption is that very few people are really able to do something tangible and beautiful in their lives, so it's understandable that they turn to an internet community, because what can't be done in real life, they try to do in VR. In most cases, however, I consider the hopes to be exaggerated or even meaningless.
Sorry, being such a spoilsport. I don't want to offend you. Just offered my thoughts, as I am here, locked up and bored to death. Using the machine after several hours of real-time work at home (sewing) is the alternative ...
No offense is taken I'm just abrasive.
This is a big step forward that makes onboarding easier. We're going to see the benefits next year.
Once this is done, I don't see why Hive can't hive Devs do the same.
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They can they are just trying to clean up the mess that is Condenser.
Then it's good. I guess they won't have any choice once they will see the benefits and results.
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exactly... that's pretty much how it goes around here. lots of the stuff HiveEngine tokens did was eventually adopted.
Completely agree and this is a great post, and insightful for many new to DPOS. I truly myself believe in DPOS and why I am a strong supporter for the blockchain. It does have it faults, but the benefits are far better in my view.
I noticed that HIVE is now listed as DPOS 2.0, this is a great sign and progress!
Listed as DPOS 2.0 eh?
What are you referencing here?
I noticed it was labeled like this here: https://blocktivity.info/coin/hive_0
I thought it was a pretty cool label, as it doesn't appear others have it.
I wouldn't read much into that. People love to add 2.0 or 3.0 to stuff that clearly doesn't deserve it. This DPOS network is one of the first ones ever, and none of them have evolved enough to actually be called 2.0. In fact, you might called them 0.1 testnets at this point given their age in the ecosystem.
I'm so glad you mentioned discord because while it's useful, I dream of the day we don't have to go off of hive/leo to talk about hive/leo. A discord clone on Hive is a gamechanger.
You're right about how far the knowledge curve has moved but it still needs to be battered into the heads of new members and that's still a barrier.
I'm psyched for twitter onboarding and hopefully, it will be a faster route to get someone to go from user to investor quicker.
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I honestly don't think we need a Discord clone on Hive.
That would likely just be super redundant and unnecessary.
We can connect to Discord with bots pretty well already and transact by proxy that way.
No need to reinvent the wheel.
I tend to agree. Discord does store conversations and messages but I for one wouldn't care if they all disappeared. When I want immutability, I go talk on Hive.
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that would be prettty aweseome. My point is that we should have that capability right here without having to hive. It wouldn't matter to me how that happened.
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agree with you that currently the crypto space doesnt take fundamentals that serious and its one of the reasons why ppl still sleeping on crypto social platforms like Hive
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I keep saying, the community is the most valuable part of
SteemHive.Honestly to be candid, there's too much talk about what hive needs, can the witnesses even startup with the most viable options on ground, we can't really begin to say for sure what is mostly hive's problems until we begin to take the steps, the first steps will matter a lot.
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Steemit?
Shit man I thought you were intelligent.
You're delusional if you think repeating the same basic formula is somehow going to lead to something different.
Same shit different name.
So because all other networks on Blockchain are also dependent on centralised systems makes it ok?
NO.
It's why ALL OF BLOCKCHAIN hasn't disrupted mainstream. It's years away until it gets off the nuts of those other systems.
Steemit isn't even a cryptocurrency.
How about Steem? Golos? Whaleshares? Blurt?
It's not about what the platform does when you're talking about an infinitely forkable open-source network... it's about who is on your network and who will join it in the future because your network's rules/distribution are better than the others. If I fork Bitcoin and give myself all the coins does that make me rich? My god, I'm a genius. BRB.
Lol you know what I meant yet deflect it with technicality. So to get technical...
DO CRYPTOCURRENCIES VOTE OR DISTRIBUTE THEMSELVES? Your BTC analogy is illogical because the ACTUAL MONEY is in BTC so you forking it just means you took a copy of the code. If no one sees you as significant then that money in BTC isn't going to follow.
Point was you're simply saying this thing Hive is legendary when nearly 5 years have shown the basic system here is definitely not. If this is so great as is then the price now would be getting scooped up in large amounts. Yet even the people in here aren't doing that.
The very people in the system clearly believe more needs to be done to make this worth more than a dime.
Thanks for proving my point. Steem is an irrelevant fork of the code which is exactly what I was getting at. You're doing all the work for me at this stage.
If the token price had been trading flat between 10-20 cents for the last five years then you might be right, but once again you allow the current situation to massively cloud your judgement.
When Hive goes x100 over the next year I'm going to circle back and see what you are saying then. Then when it crashes into the mountain again you'll be right back at it. Flip flop flip flop flip flop. Pick a lane and drive.
You're riding the emotional roller coaster of token price just like 90% of the other people on this network. The worst part is the absolute denial of reality. We would not be having this conversation if Hive was trading at $1 right now. There are multiple reasons why we are trading at this level, and none of those reasons have anything to do with fundamental values or developments.
This network might be 5 years old, but the Hive token is less than a year old, and every token was airdropped on to people who held Steem. Perhaps you need a lesson in the tokenomics of airdrops to figure out why the price is struggling right now. Wait and see what happens when Bitcoin goes into mega-bubble mode and money is overflowing everywhere and everyone is researching projects to invest in and on-chain fees skyrocket to $100+. You'll see soon enough. "This network sucks because speculators aren't FOMOing" is not a valid argument at this time. Try again next year.
Flabbergasted! Who's the grandma now granny... jk. The flabbergastion is real.
Community first, because it will always be the most important part of each and every evolutionary process.
Great post, @edicted.
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Justin Sun does not know the meaning and power of a real community independent of someone's will.
Accustomed to commanding his communities, he was surprised by the Hive revolt. A revolt that will be written in the history books of the origin of the blockchain.
Now the community is more alive than ever, has its programmers at work, and 2021 will likely bring 2 new HFs (@blocktrades hinted 6 months between each heavy update) and 2021 will be very promising
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$tangent
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Can we call this as Simplified Decentralization ? everything made available as click away solutions, this is getting more and more interesting, keep pouring the concepts of concept.
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Hive + Smart contracts = available average user to use bitcoin and co. some Wbitcoin you can transfer by easy user names no wallet addresses. Also, a dex to buy and sell and use the true potential of HDB.
There are so many untapped things on hive. At some point, it moons from one day to another.
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Indeed their are Great Minds here.
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