HIVE keeps drifting lower while LEO continues to climb...
LEO is currently trading at $.11 while HIVE is barely clinging to $.17.
At this rate, the hive-engine darling may soon be trading higher than HIVE.
Check it out:
(Source: https://hive-engine.com/?p=market&t=LEO)
As you can see LEO just keeps moving in the right direction, mostly being driven by news out earlier in the week about work being done on a wrapped version of LEO that would open LEO up to the ethereum blockchain.
More on that can be seen here:
This is likely the beginning of LEO eventually getting listed on more exchanges and the market is started to price it as such. Though keep in mind that the dollar volume being traded on it each day pales in comparison to what HIVE does, which means LEO is still a long ways from anything close to HIVE.
Unfortunately for HIVE investors, it's been pretty much the opposite for HIVE these last several months, with today being some of the lowest it has been.
Currently barely clinging to $.17...
(Source: https://coinmarketcap.com/currencies/hive-blockchain/)
In HIVE's defense it is listed on many more exchanges that mostly control the price action of HIVE, and considering there has been a crypto-wide route these last few days, HIVE has been caught up in the selling.
Though, admittedly HIVE is still down more than most.
Which is a shame considering it went up less than most.
Not a good combination...
That being said, HIVE is trying to eventually be something similar to ethereum where lots of things are built upon it and if successful will likely be wildly more valuable than it is currently.
I also think the DAO has been part of the problem for HIVE. A lot of HBD has been doled out to projects over the last several months, most of which was dumped on the market, which eventually increases the supply of HIVE.
And that problem could potentially get worse with the next HF coming that will add millions more HBD over the coming months/years.
We need to make sure the all the proposals getting funded are held accountable during the entire length of the funding process going forward to make sure value is being added to the HIVE ecosystem.
Stay informed my friends.
-Doc
Posted Using LeoFinance
Very bullish on LEO!
I'm glad to be apart of this group, with the right mindset on future growth. I've been liking a great deal the way the team is going forward and not sitting on the sidelines! Being able to change and adapt is very important... nothing is more important in the crypto markets and ecosystem. The news keeps rolling out with the right type of updates, and fast development changes. Not really circle jerking but more of my observations of what i've been seeing is real action from the community members.
Go Leo!
Posted Using LeoFinance
Their development has been impressive and the idea of using ad revenue to support the price of the coin is a great idea. I've been advocating for HIVE to be doing that since it forked...
I always figured Leo would be a good investment and am so glad that I invested in some mega miners. Now the question is should I sell some to buy more Hive? Rhetorical, I should do my own research.
Wish I knew... LEO is doing a lot of things right while HIVE is having trouble getting off the ground...
Yes, the proposal system needs to be fixed!
If enough people start talking about it perhaps we can make a change...
I don't think that's totally accurate. I think the ninjamine is going to push the price of HBD up via buying them directly from the internal market (don't quote me on that). In fact, HBD has done nothing but get destroyed (coverted for Hive) since the 2017 bull run. We have less than 5M HBD right now and I'm pretty sure it was around 6M at the beginning of the year and 13M at the peak.
I guess what I'm trying to say is that no more HBD is going to be created. The Hive will flow into the ecosystem immediately via the internal market. This is the equivalent of Steemit's programmatic selling imo. Luckily it will be very obvious there's a problem if the price of HBD goes significantly higher than $1.
What are you arguing here exactly? I said the increased HBD will create more liquid HIVE supply... which is exactly what you are saying.
I'm saying there is no increased HBD.
@steem.dao has 83M Hive locked away; about to be unlocked.
That Hive isn't going to become HBD; it will always be Hive.
It's an important distinction because we'll know we're injecting way too much Ninjamine into the economy if the price of HBD goes up.
Ok, so even if not technically HBD, it will be $1.00 worth of HIVE paid out and entering the liquid circulating supply. Thus causing downward pressure on the price of HIVE.
I honestly don't even know how the dev fund works exactly. My limited understanding is that HBD enters a reward pool and the proposals leech funds from the pool.
So I assume the ninjamine will just be used to make the pool bigger, so it's possible the HBD pool in the fund gets bigger... but unless we approve proposals to extract those funds, we won't actually be putting downward pressure on the price.
I guess I should look into it fully and write a post on it one day.
The interesting thing is that if this HBD enters a pool as you say, and basically sits there until proposals get funded, which could be at some point much further down the road, it's possible that the amount of ninja-mined HIVE paid out to people is significantly more or less than what we initially started with depending on the price of HIVE at said later date...?
Wow, that is super weird to think about. And if USD starts doing something crazy like hyper-inflating all the money in the dev pool would be worthless... lol.
Yes that is correct, as long as no proposals get funded, there is no impact on the price. The idea is that we are likely to see more proposals getting funded as opposed to less and there is already some evidence that the amount we have paid out to people already has hurt the price of HIVE...
This is grossly accurate especially when we start comparing Hive to Steem. Why is SBD constantly trading above $1 while HBD is constantly trading below $1. These devs are dumping every damn dollar they get, and it's super annoying. I really need to shift into high gear and create something useful here and continue to prove that I'm in a constant state of accumulation in comparison to all these other leeches. Reputation is the greatest long-term asset.
I literally decided I wanted to be a LEO whale yesterday, then saw the price. Good luck to me right?
Posted Using LeoFinance Beta
Yep, better be prepared to pony up so dough.
Keep active posting and commenting. The rush to join wLEO is amazing to see. Yet the fact that 6000-7000 LEO are distributed each day cannot be understated.
People still will be able to earn LEO like they always did except now (soon), the voting values will change a great deal with larger accounts powering down.
Posted Using LeoFinance Beta
Dolphins going to be orcas very soon!
Yes those who remain staked will see their LEO VP going up a bit. The reward pool will also be severely affected with autovoters getting zapped.
Posted Using LeoFinance Beta
What do you mean autovoters getting zapped?
The people who get nice upvote from the autovoters will likely see their rewards diminished since it was many large accounts that had their votes automated.
They wont have the stake behind the votes like they did before.
Posted Using LeoFinance Beta
You should try out the leo dex as well. Much better :)
Much better than...?
Than hive engine interface from your screenshot :)
https://leodex.io/market/LEO
Ah I see. Will take a look!
It has dark mode.... and limit and market orders!
And who doesn't love to trade in the dark! :)
Exactly :)
I’ve been staking leo since the beginning and regret nothing but it’s getting harder and harder to stake as I see prices rise like this, taking a little profits never hurt
Nicely done! Unfortunately I didn't follow your lead. Hopefully LEO keeps growing and building so it brings value to HIVE as well.
That is true. Although there is always the 50/50 route: stake half and take the other half and speculate with it.
Posted Using LeoFinance Beta
It looks like the lion is ready to roar. It’s a win win for the entire ecosystem.
Posted Using LeoFinance
Especially if LEO gets listed on external exchanges and starts bringing in outside investment. Currently much of the investment in LEO comes from HIVE. With LEO being listed on external exchanges, that could change, which would be great news for the entire ecosystem.
Really thin trading.
$1,400 24 hr vol. 🥴
What's current supply? And max?
Lots to take into account, but it's good to see their success.
BTW, what ETH is to scam, HIVE is to legit development. And HIVE just blows away ETH on a technical level:
https://blocktivity.info/ But, like I've said, the hype level is another matter.
Yes it wasn't an apples to apples comparison, but more of a pointing out that the price of LEO may soon surpass that of HIVE. LEO doesn't do anywhere close to the volume that HIVE does, as I pointed out, and also it's not getting beaten up with the overall crypto market due to its lack of exchange listings.
The wrapped Leo hype.
HIVE will continue dumping If we don't cut the HBD-DAO leak , that's for sure
That is a possibility... people tend to chase and invest in what is performing well. HIVE has not been performing well.
Cool!
What's Leofinance all about? I've seen you guys in many posts in the website
Finance related posts that can earn LEO for posting, similar to how users can earn hive for posting.
Very true. The abuse of the DAO is looking ugly. Any serious investor will take a close look at it and it's not looking good.
Yep exactly. There are reward pool police all over downvoting posts that make $30 etc (which the author only makes $15 on btw) while there have been proposals getting $150-$500 per day with basically no oversight on them to make sure they are doing what they stated they would...
Talk about worrying about the wrong things!
Trouble is it takes whale power to influence the support the proposals are getting to any significant degree unless a couple of thousand small stakeholders manage to act in a concerted manner.
The current sorry state of the DAO perfectly demonstrates the perils of a centralized stake distribution.
Witness votes can be proxied. Can votes on proposals be? The problem is most people have no clue as to how to evaluate anyone's work.
There is no way to evaluate it! It's mostly opaque! This is also brings up another point. There isn't any reason to actually worry about your proposal creating real value for HIVE that is reflected by the price going up etc. The incentive is to get funded... there is no benchmark for whether you get to keep that funding.
As crude example...
A development team could ask for $150k worth of funding to develop something every year, while it doesn't matter if what they built actually added value. They got paid $150k regardless. The investors in the project are the ones that footed the bill.
In case of software development, you can check if any work is getting done. No work getting done for a considerable length of time seems to have been the case with Netuoso's proposals.
That's where smart stakeholders should step in. They should only vote on proposals that include the benchmarks and that provide verifiable reporting.
This is always the case in investing. If you have to get a product finished before it can make you money, you will just have to spend the money to get it done regardless of the fact that there are no guarantees. It's the stakeholders' job to decide whether they think a project is worth funding in the first place.
True. What happened to the days of building a stake and then working to create value for said stake? If it takes off you make money, if it doesn't, you don't.
Also, why not have downvotes on proposals? We have them on posts why not let users who disagree on the amount something is getting paid vote against it?
That's a good idea. The only way to prevent anything from getting funded is the return proposal.
The return proposal is kind of a downvote, you vote for it and anything that has less stake backing it up will not receive funding.
The tricky part is that stakeholders need to coordinate to make sure that non-deserving proposals get pushed below that threshold.
well this is getting pretty interesting for LEO, and I think that the community is some kind of healthier than Hive's
I'm saying that because of the Hodling made by a great percentage of LEO stakers, compared to what Hive does, so it is pretty noticeable how the boat is being driven by it's users.
And there is still way more to do to grow so this is just starting
I mean, common, token price means nothing...
The supply of LEO is a 100 times lower than that of Hive. Market cap doesn't even compare.
It's simply an observation that it's token price may soon be higher than HIVE's, nothing more and nothing less. Thanks for the vote btw!
It was very clickbaity, and I am sure some people don't understand the difference between token price and marektcap.
But anw, you got your rewards back with the comment.
One of the most fascinating articles about the state of Hive I have ever read.
One thing to point out: remember how much backing Steem has compared with Hive for ANYTHING IT IS DOING. China's interest in cryptocurrency is booming, and Justin Sun is well-connected there. By virtue of that, Steem will be propped up for much longer than most of us around here want to see it stand. My point here: the comparison is unwise. Hive is its own thing now. It will stand or fall as its own thing.
it's crazy I'm glad to be part of the leo community!