It’s obvious it’s going to go below .05 soon, next 100 days likely. Will you be buying under a nickel? I might myself.
It’s not price concerning me, it’s most the accounts on Hive buying 80% of votes. You even have many of these accounts post on your posts and you reward them (they purposely do because they want your upvote) One day go look at how Leo & SSG-Community are two biggest votes on accounts and they are both paid for. One via delegation and Leo a subscription. I don’t understand how this is just accepted as ok. This is far more a signal our platform is failing than a price signal.
What makes you say it’s obvious?
On the vote buying thing, it kind of seems like it just snuck up on people. I did create a community and created my own curation account and if you look at the description of @tradfi-curator, I did go out of my way to avoid what you are referring to.
I think it’s ok if I reward people who engage with me even if some people do things I might not agree with.
I’m not sure what the solution is to address the vote buying stuff, it seems pretty entrenched at this point….
There were once a lot of votebots on this platform, and that was cured by a broad consensus to flag them and their users until most of them stopped. Hive doesn't have many other tools for discouraging abuse.
That makes sense it was stopped because there was broad consensus. I am not sure the soft vote buying today has a broad consensus.
It is also not clearly vote buying in all cases which is why I try to add "soft" as part of the description.
Because the trend is obvious. in my delay seeing this closer we came, it’s a certain trend and will be here soon.
!BBH
!ALIVE
!LADY
!PIZZA
Don’t forget who told u this 13 months ago at .68 cent Hive! Pretty sure my memory serves you thought a dime would hold no? I was the one saying to u 90 days ago after my .10 cent call hit that a nickel was certain in first half of 2026! In fact I believe .03 is coming personally, when HBD pegs fails next year or two I believe a lot of things get weird.
I’ll never understand those buying big amounts of Hive after the clear signs we are heading to sub penny next few years. Bleeding user numbers and devs who are pushing debunked fairytales like HBD being the Bitcoin Networks stable coin being likely and general ignoring the overall market choose value backed stable coins and ditched “artificial peg algorithm non value backed” stable coins. We only didn’t fail with rest because we are tiny. I posted pretty much daily for 6 years and promoted Hive as much as anyone, but we are in a terrible place and yes token price will over next months & years collapse to lower lows, unless we have a major rebrand and devs & witnesses admit the dark place we are in. Instead all I see are posts about how everything is seasons generally. It’s reached nonsense. 70% of accounts only post to get votes they paid for via what you pointed out in other comment, delegations & for Leo strait up paying a monthly fee of $9.99 to get $40 or so worth of votes. Many of these accounts indeed mail in effort and are just looking at it like it’s just to get a daily owed group of votes, this is true 100%. As someone who’s held 150HP and bought them in 2020 at .10 cents, & sold 125K above $2.00 year later, that’s making a good speculation, buying a falling knife I do not understand, I like HurtLocker a lot, and he obviously has his reasons, but besides artificial mini short term pumps there is no growth in sight for Hive without a total admission to where we are, and a total rebranding and reintroduction to crypto community.
I cannot predict what people will do, but I can point to incentives they have. When Hive drops to the point that running witness nodes is more expensive than the 10% of inflation witnesses are paid, current management will have to spend money on maintaining their governance, rather than profiting from it. They aren't likely to maintain their stake when it costs them money to do so. Some or all of them will dump and run, further plunging Hive price. Same with witnesses that have continually been paid, and won't want to pay to run servers to maintain the code. The consensus witnesses will likely change a lot.
People buying on the way down will replace those that dump and run as whales on Hive, and will have the opportunity to change the code to how they'd like to see Hive managed. This is all predictable, and folks thinking ahead might even have code ready to go for the opportunity. That could be why someone would be buying as the price is dropping and headed for the sub-$.01 range. Folks that want to change things and have the ability to acquire significant stake as the price drops might well be preparing for the management changes coming.
That will end the savings accounts for HBD, and force the dreaded haircut. I suspect that may be the price point at which current whales start bailing for the exists, and the dumping when they do will be ebin, crushing Hive token price. This dynamic will create a huge incentive to be the first to bail, because they will get the best price (or any price) for their tokens.
That will be an interesting time.
It’s going way below that! Don’t you think? The censorship is ridiculous, they’ve pushed away any unpopular speech which for the only “Decentralized blog blockchain” made no sense. For a majority of accounts it’s about tribe tokens and those aren’t cryptos, it’s just become a platform that has shot itself in foot. We should have been the place to come to for critical takes on MRNA jab in 2021, instead I saw DV’s on good standing accounts posts just for talking about it. Same in early 2023 about talking different and non mainstream media views of how the Ukraine war started and those mentioning NATO doing everything to cause and keep it going, I myself was called a Putin puppet and DV’d by whales. When we forked in 2020 the truth is the big money here was immediately anti unpopular speech, in 2020 with government lockdowns and such we needed to be the place for it. It just was a waste of being a decentralized chain that’s for posting content. It exists here, but has been pushed by whales to be in a tiny corner or two. It just made no sense.
From there the token action & bleeding of a active users became the signal the price would keep going lower, but I believe 2021 was the signal growth would be pushed away by the vary people holding most Hive. Just weird to me , until I realized that might have been on purpose.
I strongly agree, and suspect there's more to how the censorship was managed than just maintaining governance. KYC internet access is being implemented globally, and social credit scoring implemented by AI will need to have been tested before they roll it out. Hive is a handy platform for that testing via DV's to gain compliance, as you well know. I am not the first to suggest that the platform has been means of testing social credit score management.