IS BLOGGING ON HIVE STILL RELEVANT?

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About a year ago hive was trading around $0.20. Today the price of the Today is around $0.90, what changed? Not much really if we are being frank. Yes, there are an influx of new users during the last quarter of 2021 and maybe a shift in the sentiment of speculators, mainly the Korean investors, from steem to hive. This is my very simplistic explanation of the price change in the last year (I could be wrong and I am open to learning more about the dynamics of the market).

Based on my assessment, on-chain (blogging) activities have not necessarily impacted price action. This is why i am not particularly thrilled by sudden price actions (either upward or downward) because it has nothing or little to do with what we do on the chain. After the splinterland boom, we have seen a reduction in the number of new entrants and even a downturn in social/blogging activities. So yes, we are not doing well in this area and that is a source of concern for many esp when we consider that crypto winter is right about the corner and that would drastically change things.

Although the social aside of the blockchain isn’t generating a lot in terms of financial value, it is a core part of the blockchain and the reason we still have a strong community which every longstanding member of the hive community will agree is the backbone of the chain. When the chips down speculators and investors' inputs are minimal.

I can’t begin to count the number of whales we have given the middle finger to in the past. Hive is a product of one of such many battles and we survived. I want to attribute this to the strong social bond we've created over the years, that makes hive more than just a project but a true community (despite our differences).

“Hive may never become a high market cap coin because of its social media component.”

It takes going out into cyberspace to understand the sentiment of the market/people towards cryptocurrencies a technology/concept which is still very much in its infancy although it has been in existent for over a decade now. What drives this space still is profit and not innovation which is crucial for its growth. It is going to take a couple more market circles before we get to that point. There is still a lot of dumb money out there in the crypto space and it needs to be redirected to the right places.

So yes, very few people care about what we are building here on hive. Maybe that is due to poor marketing, I cannot say for sure. In my opinion, hive is one of the best (if not the best) blockchains in terms of utility and development, and we have a functioning social ecosystem to back it up. However, we are unable to gain the traction we need, but when we do hit the mark, the impact would certainly be astronomically and would payoff for the years of drought, grinding and possibly justify the reward pool and its use.

Hive may never become a high market cap coin because of its social media component, however, it is going to play a huge part when we do. Now we see the blockchain expanding and moving in different directions. We have recorded some success with splinterland and Leofinace, and it is my belief that other projects will follow suit.

I am writing this post in response to some of the thoughts and conversations i have had over the week about the relevance of the blogsphere on hive. I do agree it is not bringing enough value (money)--it is doing quite the positive. However, I still believe there is a need for decentralized social media platforms. I will be talking about this more this week. Cheers!


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15 comments
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It is not only about social media, that is why Hive may very well become a top market cap blockchain, there is the DeFi side (mainly with HBD savings) and the authentication

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Hive is more than social media but it is at the core of the blockchain. Is there need for change? Should the resources of the chain be channeled to other things? Is a censorship free social platform worth it? And at what cost? These are some of the questions I had in my head while writing this piece.

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It really comes down to there needs to be more options. Not everyone wants to write crazy long blog posts in hopes for making a few crypto bucks. That's primarily how people look at hive instead as a piggy bank that some how keeps paying out compared to use cases and reasons to spend that money on hive.

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It really comes down to there needs to be more options

I want say these options exist to a certain degree. Currently we have d.buzz and leofinance are working on project blank. However not too many people are exploring dbuzz and maybe that's because it's as profitable as macro blogging. So it is really a game of incentive

That's primarily how people look at hive instead as a piggy bank that some how keeps paying out compared to use cases and reasons to spend that money on hive.

I don't hive is about one thing--certainly not at this stage of its development. So I would focus on 'what it could be' rather than 'what it should be'. In my opinion, blogging hasn't really gain traction mostly because projects built around blogging aren't trying to build beyond the hive ecosystem, which is shrinking unfortunately.

It is quite easy to point fingers like I am doing. There is a certain difficulty that comes with building anything, which is why I appreciate the effort and the fact that we are exploring different ideas and avenues to help grow the hive ecosystem makes me optimistic about the future of hive.

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Great to see that Hive is not just a social media platform for blogging and blogging alone, it’s utility is something that will eventually bring the traction we have been hoping for

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True that. However, I was trying to explain the usefulness of having a social feature on hive. If it is scrapped for any reason then we would just be like other blockchains/crypto projects.

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I think it's more relevant than ever. And that has nothing to do with the price because, in my opinion, it's still very undervalued.

I just appreciate the power of the communities that are being built on Hive and I look forward to see where they will takes us in a year or two.

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I just appreciate the power of the communities that are being built on Hive and I look forward to see where they will takes us in a year or two

Here this point. Blogging might not be financially relevant in terms of bringing in capital into the chain but it sustains the chain and the interest of those building on it. So it is worth it

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I think it's still relevant and it's one potential source of income/use-case for the block chain. However I think most users are thinking of applications over anything else. They aren't really going to wonder about what is Hive or what is Eth but rather something simple to use. So I think we need more applications like Splinterlands to onboard users who can do things even without knowing anything about Hive.

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I think we are moving towards that direction--building more applications. In the next 6-12 months I am expecting project blank, apt network, Ragnarok, and psyber-x. Those are nice additions to the hive ecosystem and I believe more of such applications will be added to hive

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If you ask me, I'd say Hive's time has not yet come. We've seen a couple of booms here and there due to Koreans and Splinterlands etc, but these are minor to what will happen when the time really comes.

We are in the era of NFTs at the moment. NFTs are booming, regardless of what's happening in the world. FUD, Geo-Politics don't seem to affect it. Once NFTs mature and the "metaverse" loses it's novelty, people will realise the one common underlying factor associated with all these fads, which you already alluded to in your post, community!

At that point, social tokens will boom and truly come to their own. There are a few social tokens out there; $BAT, $CHZ (Chilliz) but nothing is like Hive. They are all either too centralised, or at the risk of government regulation. Also, their communities are not tried and tested like ours, so will mostly abandon ship at the sign of any issues (like with EOS/Voice).

I see a day when Hive is in the hundred of dollars per token. It's just going to take time, but it will happen if we're still here at the time. All these movers and shakers keep inventing Hive on Twitter, without knowing we are already here. One day one of them will notice we've been here all along.

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If you ask me, I'd say Hive's time has not yet come. We've seen a couple of booms here and there due to Koreans and Splinterlands etc, but these are minor to what will happen when the time really comes.

I agree as well. We have not peaked for what this platform is known for--a decentralised social platform.

I see a day when Hive is in the hundred of dollars per token. It's just going to take time, but it will happen if we're still here at the time. All these movers and shakers keep inventing Hive on Twitter, without knowing we are already here. One day one of them will notice we've been here all along

It's all a game of time at this point. I still believe things will work out fine in the future if we keep building and improving the user experience.

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(Edited)

AS jeff Berwick said, he cant post here and dug casey either because one whale downvotes him every time, stopping him from bringing in thousands of followers and there will be many others like him. One whale retard with some political or moral compass and the place can not grow. Thats all it takes and that is what is happening. The downvote button sucks and humans too. People will never get along and its just the way it is, so this place will always have issues as long as money has an influence.

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Strong or not, I'll be here.
Could be trading for a cent, I love this community. I love the friends I've met, and I love what I'm building and what I'm seeing being built around me.
We'll make this great with our own sweat, not with speculation. HIVE is not just for the savvy investor, the common folk, like me, is also welcome here, and I love it.

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I believe Hive is still expanding. Hive would likely go even beyond gaming and blogging to include most parts of our everyday interaction. It's basically how social space works especially when it's expanding.
We'll ultimately have more bloggers, more gamers and more people in other spheres of interaction that will come into Hive in the near future.

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