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RE: What is going to drive demand for HIVE?

in LeoFinance • 4 years ago

I believe that the original idea was to use the Resource Credits as a mean to provide value to HIVE.
According the the FAQ:

Every user has a limited amount of Resource Credits to use each week. The more transactions a user does, the less Resource Credits they will have left (until they recharge). Users with more Hive Power will have more Resource Credits.
When the blockchain becomes busy (due to heavy use), the Resource Credit cost of transactions may become higher than during times when the blockchain is less busy.
If users do not have enough Resource Credits, they will be unable to transact with the blockchain until their Resource Credits recharge or they acquire additional Hive Power to increase their Resource Credit balance.

The use of the Hive blockchain is currently very far from being overused so RC doesn't matter...and I doubt it would ever be since the Nr of transactions seems to be in downtrend continuously so...

4 years ago in LeoFinance by
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     4 years ago  

    Yes for RCs to add real value to HIVE in terms of its market cap the number of users we would need are many multiples of where we are today, many many multiples. When you factor in the ability to be able to rent RCs instead of buying them, the number of users needed goes even higher.

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     4 years ago  

    I don't know if it is possible but...What about changing the algo that rules the RC related with the amount of liquid HIVE at the exchanges?

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     4 years ago  

    You mean simply coding the RCs to be more valuable than they are currently?

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     4 years ago  

    yes

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     4 years ago  

    Good question. I've long wondered how the value relation to HP was derived for the RCs currently. That also raises another interesting question, if there was a major bull market in terms of HIVE adoption, what would stop the developers from simply re-valuing the RCs to a cheaper rate so things don't get bogged down from all the activity?

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     4 years ago  

    I was thinking about linking somehow the RC costs with the amount of Liquid HIVE in the exchanges.
    So, if the amount of Liquid Hive is high then the RC cost should also be high and the contrary.
    That would increase the demand for HP, so the price would rise and the RC cost would reduce.