Are You Excited About Hive Yet?

in LeoFinance2 years ago

There will always be naysayers. At the same time, we know that many (if not most) are going to be late to the party. However, for those who are here now, we are confronted with a tremendous opportunity.

The latest podcast of CryptoManiacs had @theycallmedan and @starkerz on. Anyone who listens to that broadcast should have their Hive juices flowing.

In short, are you excited about Hive?


Leading The Path Into Web 3.0

Of late, we see a lot of discussion about the foray into Web 3.0. Along the same lines, many are starting to talk about the Metaverse, of which Web3 is a part of that evolution.

What we have is a lot of talk though. The reality is we are not seeing a ton of action in that area. While many projects promote the concept, do they really achieve it? This is where we see a great deal of lack.

Hive is in a unique position. As outlined in Hive: One Of The Few Choices To Build Decentralized Social Media, we see some a number of characteristics that make Hive likely to carry the flag going forward.

Many blockchains suffer from scalability issues along with having transaction fees. This is an ongoing challenge. Of course, the results from the inability to scale are fairly obvious. However, transaction fees make a host of features that will be commonplace for Web 3.0 impossible.

The most logical is the fact that individuals are not going to pay money to give an upvote. Nor are they willing to incur a fees to leave a comment. Therefore, anything that operates under that mechanism is bound to go unutilized. In short, people simply are not going to partake in something they are accustomed to receiving for free.

We also have the issue with the future is micropayments. The very nature of these transactions means that any fees must, a most, be miniscule. Unfortunately, with most systems, the fees make micropayments impossible.

Once again, this excludes a great deal of what we see out there.

Hive is not excluded. In fact, it is one of the few chains that can encompass all of this due to the fee-less nature of the transactions. It is one of those fundamental mechanisms that completely separates it from most everything else out there.

Regulation Resistant?

This is something that is going to grow in importance as we move forward. Few are arguing against the idea that regulation is coming. There is no way the industry is going to avoid it. We know governments are looking closely at how they can wrap their arms around everything and bring it under their control.

We are seeing a situation where a lack of attention to this area is going to haunt many projects. They are going to be facing a future where compliance is required. For all the bravado the industry has, few are able to operate outside that realm.

Commissioner Peirce of the SEC keeps harping upon the solution yet it seems few truly listen. The key is decentralization, in practice. This is where things can get tangled. Most projects are operating with a large founder's stake (point of vulnerability #1). Then they have some type of lab, foundation, or company that is responsible for its development (point of vulnerability #2). Finally, the token distribution is mostly in the hands of a few users (point of vulnerability #3).

A rule of thumb: if there is an address or someone to send a lawsuit to, then regulatory compliance will be necessary.

Hive does not have that. Certainly there might be individuals to target but what do they truly control? There is no single token holder with the overwhelming majority of HIVE. At the same time, there is no Hive Foundation or laboratory that does the coding. Instead, it is a bunch of individuals who take that upon themselves. It is open so anyone with the skills can get involved. As we see, the reverse also happens, as some drop out.

Perhaps the most pressing area for the industry is with stablecoins. It is evident that the SEC along with other regulatory entities are targeting these. While they will not eliminate them, banking regulations will be applied. This means that all issuers of stablecoins are to comply with the banking laws.

The challenge with all this is that compliance is expensive. It requires a lot of time and activity to ensure that laws are abided. With recent proposals that any transaction over $600 be reported to the IRS, we can see how this can get onerous. Imagine an issuer of a stablecoin such as Tether or Circle having to report in this manner. That can get to be a very expensive process along with being a total nightmare.

Hive has a solution for this. The Hive Backed Dollar (HBD) is garnering attention of late. There is an effort being made to ensure this is a decentralized stablecoin that is truly beyond regulatory control. It is a token that is backed by an algorithm, not USD or any basket of currencies. There is no question how many are in existence, people are free to print (or eliminate) as many HBD as desired, and the price if free floating.

Also, since it is tied directly to the blockchain, there is no single individual or entity controlling it.

Hive Is Young

The fact that Hive was created via a fork means that it extends back to the genesis block. This is something that makes sense since few desired to have their years of work not included.

This is provide a bit of distortion. It is vital to remember that Hive is still very young. In a week, it will be 19 months since Hive went live. That is infantile as compared to the industry today.

Why this is important is summed up in the saying: time takes time.

We cannot escape the fact that it takes time to develop. Being so new means that a lot of the applications (as well as core development) is still lagging. The developers are churning out code as quickly as possible yet, they cannot avoid the fact it takes time.

This is something that is short in Hive's history. Of course, there is no way to speed this up or shortcut it. We simply have to show up each day and continue from the day before.

Nevertheless, there are a lot of things in place for people to start latching onto.

Here is a short list of developments that could have an impact:

  • Splinterlands
  • Hive Application Framework (HAF)
  • SpkNetwork
  • Leofinance
  • DCrops
  • Exode
  • Proof of Brain (PoB)
  • APE Mining
  • Hive Backed Dollar (HBD)
  • Communities
  • NFT Marketplace
  • CineTV
  • Collaboration with PeerPlays and Telos

Certainly there are others that people can add to the list. The point is we have a great deal taking place and only need a few things to breakthrough before the view of Hive changes completely. Spliterlands is already starting to make some headway in this area.

However, at this point, Hive is still flying under the radar. For the moment, this is acceptable to many of us. Sometimes, when there is a storm brewing, it is best to keep one's head down. We see a lot of uncertainty within the industry, something Hive is addressing through development. While people are looking at other projects, Hive is assembling the arsenal that is going to take the industry by surprise.

Whether it is DeFi, NFTs, DAOs, or #Play2Earn, Hive is putting together the foundation to provide it all. If this is in question, simply look at the proposal writeup by the SpkNetwork and the different features it will eventually provide to Hive.

And this is only one project.

So again, are you excited about Hive yet?

Anyone can see where things are now. That is not genius. The difference-maker comes from those who are able to see where things are going.

Hopefully this outlines a partial vision of what we can expect in Hive's future.

It is very exciting.

If you found this article informative, please give an upvote and rehive.

gif by @doze


logo by @st8z

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I think it's good to have HIVE under the radar. It give us more time to build and I am definitely excited about HIVE. I am a little worried about HBD but I still have faith in it working out. At some point, it will go back to the peg but I think it might be off-peg most of the time.

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I agree completely. The longer we are hidden, the more we can get things in order.

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Based on what's said in this post especially regarding paying to vote or comment, I believe twitter lightning tips is going to end just a feature to have there and have occasional small transactions. It's not going to be used as a tipping feature on a wide scale.

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I am not a big fan of the tipping idea. Sure it is a nice feature but I think the upvote economy has much greater potential.

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It's all about development right now.

The crypto industry itself is still quite young and will he young for a couple more years, and I've noticed that the smart money still flows in the direction of rose scented bullshit.

People are still swayed in the direction of money and nothing else. The only way hive can bridge the gap and get out from under the radar is by staying the course and constantly developing.

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It's all about development right now.

This is very true. I cannot agree more. Watch what is being developed to really understand where things are going.

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In 5 years hive will be at 500 USD or more. Only ten will survice and hive is one of them. The best team !!! (just a dream I had)

Nice dream!

You certainly are aggressive.

Not sure I would sign up for that price target but hey, let's dream.

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May your dream and the Hive family's dream come true 🙏

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Heck yes. Bring it!!

I am always excited whether it is web 2 or 3. Its my part of the daily life and spending continuous time from its beginning. Thanks for the nice post.

I'm nearly in a panic!
I feel like Michael Saylor once he figured out btc.
It has finally clicked.
My thoughts are dominated by an endless stream of, "I have to have more before everyone else figures this out"
Everything else now comes with an opportunity cost and is in between me and my hive!

Funny thing is, the clicks will become more frequent and louder as you go along.

LOL. Okay. Settle down. We still have some time to go before the major explosion. Just relax or else you will end up in therapy.

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In short, are you excited about Hive?

Rather about the few kind and generous people. They are building community. I am glad that I met them. Only they make me (and others) stay. Otherwise I would have already been left, like hundreds of thousands of people over the years. Nowadays most people focus on their own posts, but I am trying to not focus on this fact. I am trying to focus on the good side, and I am trying to stay/stick with the right people.

Those who left will regret it.

Seem a lot come back complaining how they regret earning while they were gone.

But to each their own. There is always Facebook, Noicecash, or Twitter.

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I saw the video of Jon and Dan with Stakerz too, it was an exciting one hour watch and seeing the way Dan speaks about the SPKNETWORK brings a lot of expectationm
One thing is, Hive is your friendliest blockchain and when you talk of the issue of scalability, it's so awesome to see how how is scalable and for free as well as reachable.
It was obviously a no brainer that splinterlands tops that list.

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There is a second hour also.

Check out @jongoloson's feed. He posted it I believe.

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Things are looking good we have a nice bump in development across the board. Could always use more but we are getting there and what will bring in those new devs to build on top of hive is a better easier to use platform to build upon and also of course money value!

The thing about development is that builds upon itself especially when dealing with open source code.

We are seeing many things rolling out, most small right now. However, it is all progressing forward collectively.

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I've been excited about Hive since the day it was hatched. I think it is a really great idea and an awesome community. It has been pretty rare the number of days that I am not interacting with the blockchain on some level. I think true DeFi on Hive would be amazing and I can't wait for that day.

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It was a great day, March 20, 2020.

Lots of 20s in there...may a sign of $20 Hive.

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I'd be okay with that!

"Whether it is DeFi, NFTs, DAOs, or #Play2Earn, Hive is putting together the foundation to provide it all."

This could be also considered Hive´s weakness. There is no single focus. You can´t be competitive in so many different areas. Many (very talented!) people work on their project within the Hive universe, but isolated from each other. This dilutes the energy and impact, together with the near zero marketing.
Just compare to Thorchain. They offer only ONE feature (cross-chain Defi platform), but with this single USP plus a terrific marketing campaign they are magnitudes more successful.

I disagree. The fact that Hive doesnt have the singleness of focus means that the breakthroughs are going to be in more than just one area.

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I hope, that this will happen!

By the way, what is Ethereum's focus.

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Being the platform for thousands of ERC-20 tokens. Almost like the role of the $ in the fiat currencies. Some fiat are mainly valued against the USD.

I am excited about Hive is an understatement from my point of view, Hive is young but acting like old.

It has always been a long term 5-10 years target for Hive taking off and really making a difference in people's life.

But if we look around, some of us are already ripping the reward of just showing up every day.

Give HIVE another year or two!

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are you excited about Hive?

maybe when it reaches $10 a piece, until then I just focus on the grind :P

So price is the only think you focus upon?

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in the bull run yes :P

"...separates it from most out there"

What else is like Hive?

I don't know of anything that even compares.

Awesome was a great podcast @taskmaster4450 this is a great post my friend, you are clearly a man in the know have the best day mate.

you are right,time takes time. i mean its too early to predict anything yet because good things needs time to grow .

Too Much i like Hive

Hive likes you too.

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With the evaluation done, @hives got the right momentum and is partition to be 100% decentralized... And has the full potential of achiving the Web 3.0 vision... which I completely agree

It is a process. There will be some time before it all gets to the point where it comes together.

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What do you mean yet lol? Always have been and always will be
as there is too much going on that will transform what we have now. Give it a year or two and everyone will know about Hive.

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You are ahead of the curve.

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I am super excited.


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Hell yea I'm excited!!

I would like to take up the cudgels for naysayers.

In every system there are naysayers and if one is able to look past the personal insults and instead look at the criticism, the naysayers are doing a favour to anyone who looks at the criticism expressed from the point of view of improving a structure. I

f it were not for the complainers and fault-finders in a system, the creators or technicians would often not know what to work on, because as the one who brings something into being, one might take too narrow a view.

The naysayers - voluntarily or involuntarily - give suggestions for improvement. Just take a product of a company. It wouldn't develop very much if it weren't for consumers or those who try out an article who say that, for example, the emergency drainage hose of a washing machine shouldn't be attached at the back but at the front (I've just chosen a dumb example, but this will do).

The wording, however, may be completely different, such as "This fucking washing machine! Did the idiots put the hose in the back where I can't reach it, and then it broke off when I moved the heavy-as-shit machine!" and so on. It is not difficult to separate the curses from the informational content if you switch off your ego and really listen to what the "user" has to say. Companies that don't imagine they know everything better themselves are happy to listen to their users and they not only get free advice (how clever to use the consumer as an advisor who is not even paid for it) but also satisfied customers when they see that their criticism has been accepted.

Personally I don't use insulting language so much and try to formulate criticism in a rather light or creative way, but really no one is interested, it seems, have never had the question answered by anyone who knows why you can't set up guest comments on Hive.

Since many people read and comment here, I'll ask this again: is this technically possible? Everyone always talks so much about it, advertising for this platform would be important, but a very important feature like "guest comments" without having your own account is not possible? My question may be naïve from a technical point of view, but I think it is often the naïve questions that are worth answering.

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Lots of criticisms gets processed. Most of what is added in each hard fork is from feed back that the community provides. The change in the EIP and, eventually (the last hard fork), the 50/50 author/curation split was due to the feedback (and experimentation from the tribes).

I cant say every tribe but I know Leofinance takes the feedback and incorporates many of the suggestions.

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have never had the question answered by anyone who knows why you can't set up guest comments on Hive.

Since many people read and comment here, I'll ask this again: is this technically possible?

Can you provide me with an answer? In case, you have some information about the matter. Also, I would like to know about the feature "how many eyes have looked at a post" - when I joined Steemit in the first months, it was there, but one day it was gone. Has anyone suggested to implement it? Do you know?

Great articulation of fundamental aspects and construction that really do give Hive a leading edge. This is one of the most basic laws to discovering an altcoin gem... There are multiple factors and scenarios that give the project value that ultimately cannot be denied. In such cases, it is merely a matter of time.

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Surfing the wave with Hive, ¿Leo soon than people expect ? I think so

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I think LEO might take a bit longer than Hive but who knows.

It all comes down to development in my opinion.

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I totally agree, in fact I'm starting to hear good news from @khaleelkazi about the upcoming improvements and implementations in Leo

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always interesting to watch new things

Hive is a development powerhouse! This is the best time to get on board and start working with your favorite apps and communities. 🚀 We are so early into this and there's a lot to come.

Great article, a lot of questions answered and resources mentioned, from my experience it has really worked out to be in the space where people keep saying "we are still early". I personally see tremendous potential in everything that has been developed on HIVE and I wish to have a little more time to grow myself until the general public will start flocking in here. :)

Hey @taskmaster4450, here is a little bit of BEER from @pixresteemer for you. Enjoy it!

Did you know that you can use BEER at dCity game to **buy dCity NFT cards** to rule the world.

Bang, I did it again... I just rehived your post!

Could add ProjectBlank and Hive Engine (with all its tokenized community features) to the list. :)

The later could since it is out. The former is like the Loch Ness Monster, rumored to be out there but no proof it exists.

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Because this is such an awesome post, here is a BBH Tip for you. . Keep up the fantastic work

Being excited is an understatement i am ecstatic

nice write-up @taskmaster4450le I remember those old Splinterlands GFL graphs you did a few years back.

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