They Won't Be Able To Ignore Hive Forever

in LeoFinance •  5 months ago 

"Hive is on fire".

This was the title of a post that I ran across as I scanned my feed this morning. I haven't had a chance to read the article, so I can't refer as to its contents. However, the idea does hold a great deal of merit.

Certainly, a day ago this would have applied to the token price. We saw the price of HIVE jump to about $.32 before drifting back. It is now at $.25, the same range it has spent the last couple months.

Therefore, when we are looking at the state of Hive, we have a lot to focus upon outside of token price. At some point I am certain the market action will follow but, for now, we have other areas of progress.

For the longest time, I suggested to people to focus upon the development taking place. Hive is one of the leading blockchains when it comes to the number of developers working on it. Yes, it is outpaced by a wide margin by the likes of Ethereum, Bitcoin, and EOS. However, on the next tier, Hive holds its own.

This is starting to produce results. What is emerging associated with the Hive ecosystem is truly amazing, We are starting to see the reach extend beyond just the close system we had thus far.

The news over the last week about a couple projects looking to tie into Ethereum, as well as other blockchains, is a big step towards opening Hive up. Once the ecosystem starts to gain some focus, we will be able to show off our offerings.

User growth is obviously crucial. It is also something that, quite frankly, is lacking across the cryptocurrency space. This is something that will be addressed as more become familiar with the idea of crypto and how it all works. For now, we are stuck struggling along, adding users one person at a time.

What does Hive have to offer people? The truth is we can see there are a lot of areas which can garner attention while reaching out to more users. Regardless of what someone is interested in, there is a lot going on.

  • Blogging/Vlogging
  • Gaming
  • Trading
  • Investing
  • Gambling
  • Finance
  • Digital Art/Photography

The biggest item to go on this list is community. It is an idea that Hive is becoming known for yet still does not penetrate even those in cryptocurrency. Most do not realize how a strong community is the foundation for all that is taking place.

Why are many of the other blockchains struggling? In short, we see a lack of community. Perhaps there are a lot of developers that are churning out wonderful DApps. The problem is, nobody is using them. We can see by the amount of traffic on all the different blockchain, most have very little happening on them.

Hive simply needs one breakthrough. Ironically, it is a rather simple solution.

@mistakili put together a very good post about Web 3.0 and its impact post-COVID 19.

Here is part of what he wrote:

How about Wizkid, another Nigerian music artist with over 7M followers on Twitter? How about establishing a Wizkid community with a sustainable economy to incentivize his millions of followers? How about the ability for people to invest in the launch of his album and in turn he buys back the tokens off the market with a percentage of the success of the sale of his album? Thereby spreading his wealth across many hands who invested in him... How about other big hit artists and influencers in different niches scattered around the world? It's interesting to think about isn't it?

To me, this sums it up completely. It only takes one well-known person to start the process. Hive can offer communities, which is vital to those who are famous. Ultimately, it takes the interaction between star and his or her fans to a completely new level.

Obviously, we can see the ability of people to post about the artist, in this case Wizkid. That is, however, just the start. This singer could create an economy around himself through the process of tokenizing. By creating the Wiz token, fans and other followers could be rewarded for certain activities. It would start through the blogging process and online interaction but could extend far beyond that. It could eventually weave its way into ticket sales and other products at concerts and in-person events.

With Hive, we are seeing many social media tools being constructed. Fans of Wizkid could post photos via an application such as Dapplr. Videos could end up appearing on 3Speak. Hopefully we will see the ability for fans to chat directly with each other through a messenger service.

In short, there are not many blockchains offering a package such as this.

And it just takes one. We live in a copycat world. Think of all the different musicians, actors, and athletes who could connect in this manner. Most of then have followings on Twitter, YouTube, and Instagram. Naturally, we know these are Web 2.0 applications.

Hive is starting to offer the next generation of tools for interaction of this nature.

Famous people end up being brands. What better way to strengthen one's brand then by creating an economy surrounding oneself via tokenization? This is the next level of community involvement.

In short, people would be rewarded for being fans.

Hive might be overlooked right now but it cannot be ignored forward. One single breakthrough in any of the areas mentioned and we will see things from a completely different perspective. The foundation is being laid for something much bigger.

If you found this article informative, please give an upvote and rehive.

gif by @doze


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Can I take it you're against The Wolfe's proposal that we turn Hive into a staking platform, and move away from a social platform.

Personally I think doing so would be a disastrous idea at this time, I get the feeling we're ripe for a massive spike in demand for crypt-social media with the normalising of the side-hustle.

Things are hotting up for Hive I can feel it!

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i find that possible only and maybe when HMTs are up and running for a decent amount of time, and second layer is fully developed. doing it in the current situation would kill the social part of it, and in my humble opinion, killing the social part of hive in this moment would kill hive.

I agree, we're a long way off being able to abandon the social aspect!

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I think this a very sound outlook.

Layer 2 needs a lot of building out before we see the shift taking place.

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The debate about the base layer is an interesting one.

My views are this: HIVE should be distributed as rewards. This should not change. The reason is that HP applies to proposal and witness voting and reward distribution is how we spread it out.

As for the type of chain/ecosystem this becomes, I think we can see it will go in whatever direction people feel. There are a lot of projects pulling it every which way, something that is great.

There are social media tools such as those I mentioned in the post along with others. That doesnt go away. Personally, I feel that gaming is a bigger opportunity for the market but to social media aspect is not going to disappear.

No reason both cannot be pursued by different players. It ultimately will come down to what is built on Hive, the layer 2 DApps which will steer it.

And Dan is correct: there is not enough HIVE out there (or will there ever be) to scale to tens of millions of users. Thus more tokens will certainly be needed.

I hope that makes sense, I kinda just threw the ideas together.

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So, his proposal is to remove the one thing that makes HIVE different from a lot of other projects?

That would be pretty stupid.

I certainly think so, I don't think there's much support for it.

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it does sound disastrous to me, and yeah we need to focus on pulling in people from places like youtube who are being banned. Hives use case is all about decentralisation, freedom for all. People are going to library and other places we need to pull them in.

In question, WizKid can do such a thing, create a Wiz coin and Monetize his community of fans thereby creating an economy of wealth around people who are sorrounding him. But then the centralised world only wants to the and take and give nothing back in return. Hive gives people back the opportunity to do all these things and I guess the idea will attain a global adoption once the potential is just about discovered

Hive is Life Saving for so many. It can't be left out Thanks for sharing my friend. Happy weekend to you.


Some great words here, I think Mistikali hit the nail on the head with that! Attracting a famous person like that to have his followers on here, using Hive and getting rewarded with a token in his name is a pretty great way to apply and distribute rewards in a more web 3.0 way. It also puts more power into the hands of the artists and individuals rather than the companies trying to maximize profits off the struggling and burgeoning artists.

I think we can't underestimate the importance of community with these things. With a community like Hive, developers have hundreds if not thousands of people immediately willing to take the jump into their platform with relatively low amounts of advertising needed. The big crypto's like ETH and others require a fair amount of investment in advertising dollars to get the message out there. On here, if we could get a few of the most prominent people aware of an effort it can take off. I think that's definitely a step in the right direction!

Yes yes yes...this post perfectly augments mine...

It would start through the blogging process and online interaction but could extend far beyond that. It could eventually weave its way into ticket sales and other products at concerts and in-person events.

The possibilities are endless! It blows my mind, this is another perfect example of how brands could be tokenized...Ticket sales! Merchandise sales...the internal market will enter a whole new level...

In short, there are not many blockchains offering a package such as this....

Quite non, as far I know...that's a major big deal...

This post has got me super excited!!!Many thanks for the mention Taskmaster...

I am convinced Hive will remain a small niche, this is my opinion. The best approach is not to focus on one project but on many to dilute the risk.

Well, sooner or later... Hive won't be ignore it anymore.

Sooner or later the #Hive voice will echo loud enough to where the entire world will be aware. It’s inevitable.

It will actually help boost the zeal of people for Hive , because many people love music and Hive is a place where almost all life activities goes on

Call me a killjoy but...

Hive will likely always burn like a peat fire (because peat fires just do).. but if the illusive SMT doesn't arrive by next year then the community that remains loyal to this will be so small and so niche, that building on top of it with anything other than what those communities will be (aspiring artists, card game collectors, and mixed "poor" countries) will just result in a flop from the get go.

All these comments left on this post by 'catwithcupcake' agree that COMMUNITY is the Hive strength. So then, think, how could a "dapp" trying to (for example) launch a tokenised sports team fan group ever gain any movement if all that remains here are the very limited userbase I outlined, users that themselves would be concentrated on their (likely dying) hustle.

That's why SMT needed to happen back before when steemit was set to take on that $8 high. SMT ability with that price lure would have made internet history. I don't see such a mass effect with the current environment and price.

The blogging is the blogging because the system IS BLOGGING, but this crypto (as hive and steem) HAS NOT taken users and amassed them from the default platforms of VIDEO, TWEETING, SOCIAL COMMUNICATION. You could argue that photo has attracted some over from IG but really that's a dying system that itself is now trying to compete with the very popular tiktok short video system.

Anyway 'catwithcupcake' blocked me a while ago so I wonder if this can even be seen... but I add it to have it exist as an alternative, maybe sensible/realistic view for those seeking it now and in the future.

My fellow HIVE owners are on fire.

2020 is the year $HIVE

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So many ideas to make #hive the next big thing.
Time and the actions we take as a community
will define the future of #Hive.

mantapp ... ♥️♥️ indonesia

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Bang, I did it again... I just rehived your post!
Week 19 of my contest just can now check the winners of the previous week!

Yeah compared to other platforms for example, Hive has a lot of potential thanks to the great integration that communities within each other have and the amount of great cooperation we all have. It'll take time for the Hive price in my opinion to see some great heights but sooner or later, I think it'll come 👌.