Hive Engine - BBD May Become Number 1 Token
I've noticed that most people in crypto focus on cryptocurrency prices going up. The problem is why would you want the price of something to go up exponentially higher for the purpose of it being only to be sold.
In the rational sense that would mean your only reason for use of this currency is to sell it for something else. That's the only purpose it really serves.
Can you understand why that's not a good idea. However let's say you found a reason for it to be a good idea.
Example A:
Your Hive goes up to $250k per coin this week. As many of you feel it's better than bitcoin why wouldn't it go up higher. So you sell it immediately for some exotic sports car.. The following week it jumps to $500k per hive. In this example you have now lost over $250k? Why because you sold your golden goose. You see the only purpose of your token much like a casino chip was to go up. It would suck for any other use @chekholer
Example B:
Hive drops dramatically in price. It's now 5 cents. Much of your yield and earning potential writing blogs and gaming depended on a price of hive being around $1. It's now 5 cents. If Hive prices were more stable then you'd probably find that more satisfactory than a 5 cent hive.
So would any of these examples be idea? No because if the price doesn't go up for most users much of their reward to risk ratio is determinable by the price appreciation @edicted.
At this point i'm not really incentivized to participate as neither example is idea. Even if the prices remained stable i'm not gaining enough value to take the tremendous risk to earn what 10-20% for the year. When my maximum risk is zero losing everything i have 100% loss... to maybe gain 20%.. Or is the risk more palatable if i gain 8-12% with almost an impossible risk of losing even 25% of my investment?
So you see the problem. Let's talk about why BBD coin and it's sister coin btcmyk is different and lies in the goldielocks zone.
So BBD Coin functions more like a true currency. The sell pressure on BBD coin will reach a place where stability is likely to ensue. That is because the resource inheritance portion of bbd coin continually gives out a dividend to the community who likely will sell it. This is important to price stability.. There is lack of stability the less people sell
These are concepts that are quite foreign to most of crypto as many don't really use cryptos for anything. Many things can be achieved with a stable currency.
Lastly to illustrate this on a more simplified example. As a shareholder in twitter or facebook many would accept it's valuable due to somehow selling data although they don't fully understand the mechanics of that. Are they really violating your privacy, stealing your data and selling your name and personal details to company x.. Well i don't recall every receiving notifications or offers from their partners with my name on it but okay let's say it works like that.
My question is if twitter or facebook decided right now never to sell anything related to your data again. Would it have any value with 2.5 billion users? I'm pretty sure if any network has billions of users they can think of something beyond selling data that makes that network valuable.
BBD coin is on a similar path. What is the reward to being in bbd coin. Imagine a project so stable and valuable it could reward you $1000 per month just for being part of it. Beyond stable prices. You'd have to accept that's going to be much more valuable to most people in crypto than the alternative. Without getting into how the money is created is as ridiculous a question as asking why bitcoin itself can have any value. So we're not going to get into that today. However with a very simplifed exercise the question is who useful would it be for members of the community to receive $1000 per month. Not have one member make a million bucks and you make nothing. That's not the purpose of a useful currency @enforcer48 and we don't need speculative businesses on the chain that can't be enforced by any judicial system in the world...that only proves we can create lousy businesses which is a futile exercise. What we need is a currency not owned by China or the Cia.. or mastercard like bitcoin but something owned by the people @melbournewest and that's not hive.
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What you’ve just said is possibly dumber than anything @lasseehlers has done, and almost as dumb as the look on his face. It reminds me of the Biden administration claims this week that higher inflation is actually good for us.
Don’t be a Brandon.
I still have a bunch of BBD, needs bridged over...
Do you have staking or liquidity pools yet, Myke??
As far as blogging with the myk coin, I barely have time to blog here 🤓