Hive isn't a social media site.
Think of Hive as an operating system.
The biggest app (so far) on the operating system is social media (blogging).
So my question to you would be: when's the last time you saw marketing for Linux OS? It's interesting how much emphasis people put on advertisement when it's not that necessary. The dapps built on Hive need to advertise themselves. Hive itself doesn't need advertising as an open source operating system.
Also, when blog posts are paying out 4 figures at the end of the year that will be all the advertising we need. Every four years we get to stress test the network and capitalize on the mega-bubble. We likely don't even have the capacity for that many users. The entire network currently operates off of 22KB/sec max blocksize. Everyone on the platform has to share the bandwidth of a 56k modem.
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Thanks for the clarification, @edicted ! Understood, Hive is more like an OS.
I'll answer your question with one of my own: What is the goal of Hive?
Because according to Wikipedia, operating system marketshare looks like this:
If Hive is aiming to be Linux, it's already close to succeeding. 2% market adoption is a laughably low bar. If Hive is more ambitious and is aiming to be the 'Windows of blockchain', marketing and advertising will be essential. Windows didn't get to where it is by staying in the shadows and relying on it's apps to advertise for it.
As for your other point-- I'm not clear how blog posts will be paying out such large amounts with such a tiny amount of humanity using the platform, but I'm new, so perhaps there's something I'm missing.
Either way, I appreciate your contribution and thanks for getting me thinking deeper about this stuff.
Wishing you a great day!
The amount that posts are payed, depend upon the price of $HIVE, the cryptocurrency that the platform is based upon. 4 years ago the community was on STEEM, one year ago we "hard-forked"(basically it's a copy) to a new blockchain: HIVE. Why we forked? let's say an individual tried to centralize the blockchain, and the sole purpose of this community is to build a decentrilized blockchain for web 3.0. 4 years ago, 1 STEEM achieved to be valued 8 dollars. Now 1 Hive is worth 0.70 dollars. The price of HIVE is highly dependent of the overall cryptocurrency market. 4 years ago there was a bubble that drove prices high. Recently we've started to see prices go higher, that is thanks of bitcoin starting to go mainstream, usually all cryptocurrencies follow what bitcoin price does. For example one HIVE was worth $0.15 4-3 months ago.
A lot of people speculate that bitcoin price will go higher, because of being more adopted, and hence all cryptos will go higher too. That is the narrative behind the at the end of the year we will see posts paying 4 figures. 4 years ago there were people that were payed > 1000$.
Now you will be asking... where the heck comes all this money?
HIVE is an inflationary cryptocurrency, it currently has around 6-7% of inflation per year, the inflation is lowered each second.
From this 6-7% inflation, around 32.5% goes to a reward pool (from this pool is how people are payed to post or comment), another 32.5% goes to curators (the people that vote the posts, the higher HIVEPOWER you have you have more control of how much each post/comment can earn rewards from the reward pool, also you can earn higher curator rewards (the theory is if you vote a post and later that post becomes more popular and its voted by more people then you earn even more curation rewards), also you can choose which witness should secure the blockchain or what projects we should fund), another 15% goes to those that stake HIVE (HIVE POWER), another 10% goes to pay witnesses (the ones that secure the blockchain) and another 10% goes to the development fund/DHF/DAO. From this DAO is how the community is paying the marketing effort organized by lordbutterfly, and many other projects.
Well, that was a hell of information. If in doubt of anything, reply😀
There are even more things to know, but more on that later.😁
This is a very helpful comment, @marc5 ! Thank you for taking the time to share it. I'll do my best to incorporate this valuable info into the guide.
Stuff about share price, STEEM, fluctuations, etc.
And I'll definitely include a section about inflation, because a big question for beginners is "where is the money coming from."
Same for rewards pool & distribution.
I've written a lot of the guide already, and I'll be making an update on my progress tomorrow, as well as asking the community to help answer some of my 'tougher' questions. Thanks so much for everything you've contributed already, I really appreciate it.