A slight comparison of the behavior of the value of HIVE and STEEM

in LeoFinance •  2 months ago 

Since the last #Hive hardfork, I have come across the recurring failure of dapps that I used to use, both the query ones like @hivestats and other automation ones like @beemengine, in this last week the problems seemed to have been solved and I could use the ones again dapps, but since yesterday I already find again that beemengine is not working on the hive blockchain again.

I'm not sure what the witnesses were after with this latest hardfork, but it really gave me some problems, in fact I'm not sure it was completely beneficial to hive's cryptocurrency market, when I try to compare it with what has happened to a similar currency, such as #Steem, which after all, is the blockchain from which it was derived.

Hive behavior in the last 30 days, taken from @coingecko

ScreenShot_20201119073508.png

Hive-dollar behavior in the last 30 days, taken from @coingecko

ScreenShot_20201119073943.png

Steem behavior in the last 30 days, taken from @coingecko

ScreenShot_20201119074117.png

Steem-dollar behavior in the last 30 days, taken from @coingecko

ScreenShot_20201119074211.png

At first, I thought that the behavior of hive and steem kept a certain similarity, it is something that seems obvious in the graph, but it is immediately noticeable that the starting value of the cryptocurrency is different in each case, and even the thing is worse when I find that despite that, the percentage drop for hive is worse than the one recorded for steem. So not only did steem start the period I'm using to compare with a higher value, but it also turned out that it lost less of its value at the end of the period I'm using to compare.

If we take this to the case of the dollar-backed currencies that both blockchains have, it turns out that the comparison is even worse, in the case of hive, variations can be observed that are not worrying to a great extent for me, but the case of steem shows a candle that is incredible to me, very striking and definitely causes me a bit of surprise, its value increased in a very short time in a very striking way, it is already in a period of downward adjustment, but still it is far above its hive blockchain counterpart.

In closing, this post is just a way of expressing my annoyance with the results of the latest changes, but also a wake-up call on the effects such changes can have on the market value and a request that this be considered as something to be evaluated for future updates, because if changes that damage value continue to be implemented, it will be a damage to the investment.

At least that's my opinion. All the content of the post is informative and does not intend to give economic or investment recommendations, whenever you proceed to invest you must evaluate the case and act according to your own criteria.



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I agree that the last HF had done no good to the Hive Ecosystem, as one can see also here:
image.png
graph from @penguinpablo

Basically we even now have not reached in many metrics the levels compared to the state prior the HF!
Anyway, it is pointless to compare with Steem. There are much more low quality shitposts over there, so you would compare apples to oranges. The Steem price can much better be manipulated due to the very high level of centralization over there.

I don't understand why does Hive need so many hardforks...

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The hardforks make sense for the introduction of modifications in the behavior of the chain, in the change of characteristics and even in control mechanisms for the contents or users, I still remember that hardfork in the other chain with which a A group of users of the ability to vote or use their voting power to affect the choice of witnesses, even the blows of that war in steem show scars.

In itself, I do not doubt that hardforks are necessary to update and provide new features, as well as correct some things that are considered problematic, but what I complain about the last update is that so far, it does not stop causing me problems with dapps that I used to wear.

Thanks for the comment, I did not know about these metrics.

Certainly, since the separation the two projects, both steem and hive, have separate paths, but as both have a similar governance and consensus system (at least in theory) and both were based on Graphene at the beginning, it may still have Some useful comparison, but certainly the problem of actual concentration of power in one hand is what bothered me and took me away from steem a bit a few months ago.

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Besides marketing that is absent for Hive, I really don't know what it would make it work better.

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Maybe Korean market doing something with the sbd we hope get the next bull coming son to get advantage.

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Thanks for the comment, I had not thought of that scenario.

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Your current Rank (19) in the battle Arena of Holybread has granted you an Upvote of 8%

Eh, I look at the development that's going on, the price is what it is and I've been slowly growing my HIVE stake with these low prices. HIVE is now in unchartered territory and I'd say comparing to STEEM is pointless now as it's become its own project with a new set of problems to overcome. I don't follow what's going over on Steem any more as there's plenty going on HIVE to keep me busy, not least with LEO and all the incredible developments going on here.

The dollar price is closely following BTC movements too so not reading too much in to charts other than good buying positions for me. If I'm having fun and getting something for it then not going to worry too much!

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Certainly, since the chains were separated, both hive and steem are independent projects, but since they are both based on Graphene, if memory serves me, it still makes some sense to compare them in some basic aspects.

In part, the comparison I was doing was because it reminds me of what has happened with Bitcoin and BitcoinCash, where the new project was very promising, but until the sun today I have not been able to see its market value take off to the level that he had hoped at first. I wouldn't want that to happen to Hive.

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Ah ok, perhaps yeah, if they are using the same technology although not sure what developments have been made on STEEM since the fork - I pretty much checked out of there in April so have no idea what's going on!

Interesting comparison with BTC/BCH, I guess we will see what happens although the difference is that STEEM has a billionaire backing with Justin, not so sure how much is backing HIVE at the moment

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