A few days ago @taskmaster4450 (I wonder what this pseudonym refers to) published an enticing article called "5 reasons why Hive will hit $100". That is of course clickbait - cheap dopamine for us readers.
His 5 reasons started with number one "Technology". The second was DeFi - which is indeed a nice functionality of Hive and could develop even better on the 2nd layer ... thanks to Hive's outstanding technology and crypto-economics. The third reason, "scaling a decentralized database" is, yet again, technology repeated. The fourth he mentions is the HBD, which is indeed a brilliant functionality that I'd class into "Hive crypto-economics". The fifth reason taskmaster advances is called "everything app", which doesn't exist yet, certainly not in the blockchain space - the closest thing I've heard of is the Chinese WeChat.
So if we strip down the click-baity stuff of the article, we can agree that Hive has two big things going for it:
- Technology (excellent)
- Crypto-economics (zero tx fees, built-in DeFi functionalities, an incipient reputation system, etc.)
However, if we look around and are honest with ourselves, we cannot but admit that Hive, like Steem before it, still lacks the essential ingredient: "Ryoshi".
Bitcoin has Satoshi Nakamoto
Ethereum has Vitalik Buterin
Steem used to have Dan and Ned but has been left faceless.
There is no strong leader for the Hive community. Yes, we are "decentralized". But the currency of leaderless, decentralized communities is going to have a hard time reaching a market capitalization to rival that of much inferior cryptocurrencies who can boast a leader and a narrative (however ridiculous).
No better example than "Shiba Inu", a joke of a joke cryptocurrency, modeled after Doge (itself a joke crypto).
With a market capitalization of several billions, Shiba Inu towers above many serious, well designed cryptos
Yet Shiba Inu has no technology to speak of, having started as a mere ERC-20 token on Ethereum. And it has no serious crypto-economics either, despite the joke tokens BONE and LEASH.
Shiba Inu instead has "Ryoshi", a fictional leader with a narrative. The rocket-like trajectory of Shiba Inu, like that of Doge, who had no other than Elon Musk himself as champion, show that:
1. Technology doesn't matter
2. Crypto-economics do not matter
All that Hive needs to reach $100 is a "hero", a "father-like figure" to tell a good story and lead "the Hive army".
This is how human communities form and prosper, ever since Abraham and Moyse and Jesus, through Alexander the Great and Caesar and Washington and Napoleon and Lincoln and Churchill and up to Lee Kuan Yew
All that Hive needs to reach $100 is our own Ryoshi
I nominate @generikat's dog Crazy Cora as the official unofficial HIVE mascot and mastermind!
Aww, Cora, The Emotional Support Corgi is always hanging in there, just like Hive, it's perfect lol!
!PIZZA
It won't be a bad idea if we develop that hero like figure here on Hive ourselves if we can't get one from outside Hive. I believe Hive has the potential to hit $100 but not soon.
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I deem it unlikely that we discover THE "Ryoshi" among the current Hivers... Hence if we ever manage (and we might fail), then our Ryoshi would be a "knight in shining armor", someone charismatic and articulate not shy to develop a public profile. I imagine a highly extrovert "theycallmedan"
Thats very much possible with Dan for sure. Let's hope it's him as he's well versed on the pros and cons of web 3.
Have a nice day
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I don't think that Hive 'needs' to reach $100, or even that it should.
No one said that Hive 'needs' to reach $100. I was responding to a statement that it will by replying that an essential ingredient is missing before that could happen. As things stand right now it probably shouldn't but that is not impossible either, and I wouldn't mind if it happened
Yay! 🤗
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Then we need to have a collective entity like "Anonymous."
Isn't that how we show our decentralized power?
"decentralization" is only "power" in a certain sense. In other senses it is weakness
Greetings @sorin.cristescu
Very interesting article, sincerely I am a neophyte in this Cryptoeconomics, but I will dare to give you my opinion.
Couldn't that face of Hive be chosen as we do with the "Witness Votes"?
That is to say, that several representatives are nominated to be external "Spokespersons" of Hive?
Their power of voice would be provided by the people of Hive themselves.
Hi @guitarmcy and thanks for giving your opinion.
The point I'm making is that the success of a crypto (measured by its adoption rate which ultimately determines its price in fiat) is almost proportional with the charisma and mystique of the central figure, of the "Ryoshi".
So while having a democratic process for designating a Ryoshi would probably be a progress from the current "decentralized" situation, true success would require a really gifted person, a "Steve Jobs" or "Satoshi Nakamoto" kind of figure ...
Such a figure can appear (can join the ecosystem from the outside) but having a "democratic" process to entrust him/her with that role would rather be a negative in that case - see the "save Barabas, crucify Jesus" paradox of human groups.