It's been a while since my last post...
And I assure you all, dear readers, that I am thoroughly annoyed by my seemingly lack of time management! To be fair this seems to happen every time the holidays roll around. It always feels like I should have plenty of time to sit down and write something, and yet the days tick by and a huge gap of forged within my timeline.
The biggest issue seems to be the complete absence of a normal setup and routine. It's very easy to get work done when I'm home alone with my cat and it's quiet and I can do whatever. Outside of that environment is a world of constant distraction. It certainly doesn't help that I hate writing these things on a laptop. Not a fan. My shoulder injury agrees.
But sometimes you just gotta work with whatcha got.
Obviously crypto itself is in very much of a holding pattern until this ETF nonsense gets sorted out. I'm still pretty unconvinced that it matters in the mid term. Crypto's gonna do what crypto's gonna do. Real fundamental gains take at least a year to materialize, so the only real changes are the short-term knee-jerk reactions vs the actual long term infrastructure that gets built out.
It's funny to see so much pushback.
There seems to be two camps of ideology in this regard. The first camp is filled with the greed monsters that only care about number go up. This is the bigger camp for sure. The vast majority of people (even rich ones) live within a scarcity mindset in which they never have enough resources no matter how many they currently have. It could always be more.
The other camp is full of idealists who see institutions and things like ETFs and impending derivatives as a threat. They speak as if we have some kind of choice in the matter. The foundation of crypto is to create open, inclusive, and connected networks. Those who have decided that the establishment is the enemy seem to have it in their heads that these types of entities shouldn't be allowed to use crypto. Well, how would that work, exactly? It's an absurd and thoughtless notion.
At the end of the day disruption doesn't mean destruction.
When a new technology comes out that's superior to the old technology, everybody has their choice to make. Nobody is stopping the guy selling horses from pivoting to being a car salesman. At the same time, the chance of that actually happening seems to be quite low. A change like that is too big and awkward for many to accept.
The legal battle brewing between crypto and the banks is just getting started. Spoiler alert: crypto wins. We obviously don't win all the battles but the war is already decided. We've already entered the "if you can't beat them, join them" phase of the game. The snowball will escalate from there.
Time is the great equalizer
We are gliding through a point of history in which most people very much believe that crypto is a scam, and if not a scam then at least they have many questions and don't understand the value proposition. Then we have to factor in propaganda into the mix like, "it wastes energy" to get an even clearer picture of the situation.
There are millions of developers out there that still don't get why crypto is important or even relevant at this point. That's how early we are in the game. Show me the Linux distribution that gets funded by crypto. It doesn't exist. Not only does it not exist those old school devs seem to think the way to go is still to sell data or operate via donation. This will seem completely archaic in a decade or two. The tech simply hasn't caught up to the potential applications.
Sidewalks were made for walking
They were not required until we had paved roads and cars driving on them. Skateboards were the random result of this infrastructure existing. We could have never planned for the skateboard to exist; it was just one of those things that happened as a result of a rapidly evolving environment.
Crypto is a lot like that...
But we haven't built the sidewalks yet. Hell, the cars themselves are extremely janky and the roads are either virtually non-existent or controlled by the competition. We truly haven't the slightest clue what's going to happen in such a rapidly changing environment. Don't forget your popcorn.
What's up with Hive?
Our own network is no stranger to this concept of focusing on price vs what we can actually get done. As we continue our crabwalk and slide on the market cap ranks to #300 it can get pretty discouraging. Many have decided we must be doing something wrong and need to make drastic make or break changes to the platform. Shame that many seem to ignore the potential "break" part of that equation.
Personally I think it's shocking that Hive doesn't even use all its bandwidth even though operation fees are free™. It's quite the paradox. On one hand it's a signal that everything is working and everyone on the network has as much blockspace as they could possibly desire, and on that other hand it heavily implies that the demand to use our chain isn't high enough.
How can we increase demand to use our chain?
Here are two really bad ideas floating around lately:
- Lower HBD yield rates
- Remove the reward pool
Take a look at those ideas and ask yourself how either of those things could possibly increase the demand to use the chain. It should be obvious that the exact opposite would happen. These are small ideas that assume we will always be small and we have to continue cutting costs to avoid a death-spiral of unsustainability. The problem here are not the ideas themselves, but the logic that they were born from. They are inconsistent. "Let's grow the chain by cutting costs and gutting it." That's not how it works, but I digress.
What can Hive do that other chains can't?
Quite a bit honestly. The problem is that the current environment doesn't seem to value it. Take censorship resistance for example. If you say "censorship resistance" to a random person on the street do they even know what you're talking about? It's not that they disagree that censorship resistance is important or not, it's that they aren't even educated enough to engage in the discussion in the first place.
How many people even get banned from social media?
1%? Less? So the total pool of users we have to work with that understand the problem is less than 1% of WEB2? And of those less than 1% of users that got banned how many of those do we actually want on our network. Meaning: how many of them were banned for a damn good reason and we should want nothing to do with them? This is a debatable and politically charged conversation, but the answer is certainly a non-zero number. So not only is it a small subset, but rather a subset of the subset: the ones who got 'wrongfully' banned. Which again is up for debate and determined through consensus and downvotes and whathaveyou.
The missing template issue
My ultimate conclusion regarding this issue is that at some point there simply will not be enough bandwidth to go around because cross-platform solutions will be created that gobble up extra resources. Consider something like an on-chain game that has millions of players. Might not matter where the data is stored, only that it is stored somewhere. So again it might all just come down to being a waiting game of collaboration and organization of infrastructure.
Conclusion
Ah well this was a weird one. Perhaps I'm already out of practice. Crypto may be in a holding pattern at the moment, but we always trend toward a slowly then all at once type of environment. Volatility is our friend whether we like it or not.
At some point censorship resistance is going to matter a lot more than it does today. We can see this happening in real time. What good is a network that gets captured by the very institutions we were working to disrupt? Regulators are going to corrupt a lot of platforms going forward and force a lot of users to seek out other options. At least that's the theory.
This suggestion comes up sporadically but I’ve yet to see an even halfway cogent argument for why it would be a good idea.
Crickets.
Every technology has its time.
Claiming that Hive is ready for mass adoption is not only hubris, but pure lunacy at this moment. I think it's important to watch who is ready to compromise the main premise of this tech for the promise of number going up.
I'm a big fan of both those ideas. Here is how I'd do it:
Lol you've been going hard lately 😅
yep. let them fork away.
New is always better. May the best win.
agreed
I believe it's crucial to be transparent about things that are openly observable and verifiable.
Encouraging forks and allowing the free market to determine the best path is always a wise strategy for a platform. Some ideas are simply too diverse to be nurtured under the same digital culture, much like branches of a tree growing in different directions, each seeking its own patch of sunlight.
In the past, the closed codebases of platforms like PeakD, Splinterlands, and Leo, coupled with the Binance listing of $Hive and no DEX listings, appeared to signal stagnation. Internally, the situation was compounded by a static witness structure of 30 votes for 20+1 slots and large delegation pools, which hindered internal fluctuation. Security was certainly more important than progression.
However, the winds of change are blowing. The introduction of sidechains, DEX listings, 2-Layer swap features, and bridges is bringing much-needed flexibility to the coin side of things. Ecency's growing strength, the ongoing Open Peak project with 700HBD a day, and the development of Communities 2.0 are all catalysts for innovation. They are like fertile ground, allowing entrepreneurs to branch out and fork as it suits their vision for the future.
My only concern remains with timing, a crucial factor. Honestly, innovation and technology base is just the toolkit. It's the first 15%, even if it's the hardest and most unlikely to occur. I don't see everything getting in shape before the different market peaks in 2024/2025.
If $Hive goes through a weak bull and the bears wake up, to rupture in a bunch of different forks would be a logical follow up for the emerging incentive situation. You don't build into a bear, knowing it will cost you years before seeing any green and voluntarily carry the luggage somebody else has left behind.
Lots of good thoughts you put forth there. It does feel like we are in a holding pattern for now. I want to be one of the ones that believes the hype, but I am also one of the people who was left holding the bag waiting for 100K last time.
Same here... I got my plan written on the wall this bull market and will stick to it meticulously. I've had enough failed bull markets to continue the same way in this space filled with so much potential.
There hasn't been a big volume spike in well over a year (which used to be very frequent). Hive is also being cut off from the crypto/fiat space; it seems that the whales from back then have lost interest (for the time being) and it's simply hard to buy Hive atm. The BTC bridge should help with that and perhaps with more dapps/news the whales will come back as well. But even if they don't, we seem to have a very slow (organic) growth now which is probably better anyway. But if things don't pick up by the end of next year, there is a good chance we won't retest ATHs in this cycle
difficulty purchasing Hive is the #1 issue.
If this was solved the price would have some traction and all these talking heads with idea how to solve things would go away.
There is no other issue.
how you think that could happen? the btc bridge, more dex integration or pursuing cex lisitngs?
you will never see Hive on any New CEX as the more they need to KYC people the more Hive is off the radar.
Bridges and Dex's will be a couple of big things and then other projects that I can't really talk about yet.
sounds interesting :))
I found MEXC is actually not too bad, but not sure if it works in the US
Nope. Not that I can figure out.
I also asked Chainge for integration, but we need EVM for that
Yeah. EVM is kind of a dead end in my opinion.
I would not waste time with them.
However VSC will solve the EVM Liquidity bridge.
I get it, about time! It's much easier to do things when it's just us and the cats, not a houseful of family.
onwards...
Another thing Hive "can do" and potentially could capitalize on is "crypto made simple." Consider that if I were to need to send you a payment for something, I would just send it to @edicted, where on most other chains I'd need to know that you were "Xc95w80we9$3hsd0bfbht75m3mu8s7bo08936jjgcosg7834" or something like that. I'm surprised nobody has ever 'exploited" that particular angle... easy names were what separated AOL from other ISPs in the early days of the Internet. It's what separated PayPal from other transfer services that required you to remember routing and/or bank account numbers. Simplicity/Usability.
That's how real people use stuff, including the Internet.
I agree that killing the rewards pool and and reducing the rate on HBD is the worst possible idea on the planet. Especially since the statement "leave the rewarding to Layer two" is a total clown show, aside from INLEO. But if your objective is to lose the few thousand actually active and loyal users, be my guest.
=^..^=
also, price is really just a hype train thing. There are almost 0 dapps on Koinos, yet it's all the talk on X lately (which is a big hint at what we should be doing on Hive) which is the main reason imo that it's performing so well.
Word! And number went up too for…nothing
I just hope that the reward pool is not removed
This is the thing bringing people on here on a daily basis so doing that may reduce traffic
That’s actually how I feel
I still don't know why this idea came up. I first heard it during one of the spaces on X we had and many of us were of the opinion that if the "remove the reward pool" actually works out, none would be on Hive. Isn't that what makes a lof of us here? For the reward! Though it was along the line, we fell in love with the blockchain but it would be a bad idea to do this actually.
@tipu curate
Upvoted 👌 (Mana: 65/75) Liquid rewards.
I face similar situations especially during holidays with my posts but luckily, this year, I started with one month before to set up my posts and store them on drafts to avoid one extra stress during this time, lol. Not sure if it was time management or a good idea that saved me, but it worked!
!WOC
For me, the use case is HBD. If we can credibly offer a stakable stablecoin with 20% return, we win. Anything which messes with that, is a step backwards.
Thanks for taking out your time to post this beautiful content. Time is a major factor in every thing we do even in crypto market.
Yeah, you right Crypto is in a holding pattern now.
I remember back in the day, simpler times when we just focus on the basics like online interaction , social media without all the deep layers like tech and politics. But I guess every generation has its own challenges and changes . Your post is really insightful like its about how thing could change in the future. Makes me wonder what the next big thing will be. Diving into the crypto world seems a roller coaster.
I remember debates on HIVE whether Donald Trump should be welcome on the chain after he got banned from Twitter. And whether this would be good or bad for the blockchain and community in general.
Whenever people start to get banned, cancelled, arrested, deported and executed, it usually starts with the least desirable and most problematic individuals. In other words, those nobody likes or who "had it coming".
Free speech as main selling point of HIVE is not as effective as many of I would hope. The very same convenience that keeps people on Facebook, Instagram and the like is the aim HIVE development should strive for.
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