Can Hive Become Like Monaco?

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The United States and China are the two largest economies in the world. They eclipse every other single nation by a wide margin. This puts them both in "superpower" category, at least economically.

We know there are many advantages to being the largest. It gets a lot of attention while also allowing the wielding of a lot of might. Obviously, the United States and China are in this position.

In the blockchain world, we can see what ecosystems mirror these two countries. For now, the top dogs are Bitcoin and Ethereum. Both have the largest market cap while garnering the lion's share of attention. All eyes are focused upon them. When there is a move in the market, there is a good chance one of them is leading the way.

All others follow suit. Many were touted as the "killer" over the years yet nothing succeeded. Thus far, their dominance is unquestionable.

Of course, is bigger always better? In many ways, it is. There are however, times when being the biggest is not ideal. Put another way, sometimes there are advantages to be smaller.

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Monaco As A Comparison

Monaco is a tiny nation in Western Europe. It has roughly 38,000 residents which makes it the equivalent of a small town. Size is not its strength since it is smaller than Central Park in New York City.

What makes Monaco stand out is the wealth it has. The location of 3 James Bond films is known for its opulence. It is a haven for the wealthy.

This tiny city-state has more millionaires than any other country as a percentage. According to Business Insider,

Business Insider compared the number of millionaires to the number of residents and calculated that more than 32% of the population are millionaires.

That means 1 in every 3 people are millionaires. Naturally, that designation might not mean much since the cost of living is so high. Being a mere millionaire could be considered middle class.

We also see this showing up in the per capita GDP numbers. The productivity for this little slice of heaven is off the charts.

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Wikipedia

According to the latest estimates, the per capita GDP is near $200K. That is a lot of money on an individual basis equating to a high standard of living.

In comparison, the behemoths are as follows according to the World Bank:

  • United States (10th) $63,000
  • China (76th) $10,500

The per capital of Monaco is about 3 times the United States while being 19 times that of China.

Certainly, on a total basis, it is much smaller. Yet, looking at things individually, we get a much different story.

Hive Like Monaco

If we are drawing comparisons, can Hive become like Monaco?

Many of us feel that Hive has a bright future and is going to be on the bigger stage down the road. However, even if that does not happen, can there be a place for Hive?

We know that Monaco will never rival the United States or China is size and might. It does, however, top them in wealth per individual.

Even if Hive does not become the biggest, are there opportunities for each individual to accumulate massive holdings?

Looking at the success of @splinterlands, we can see how this can be possible. While that is one of the most popular blockchain chains, it is far from a major player in the gaming world.

That said, over the last couple months, we saw the value of the holdings of people absolutely explode. Many saw the cards do a 10x or a 20x in a rather quick period of time. With a few hundred thousand players, it is easy to see how this game could really enhance the wealth of many of those participating.

For example, if we get to the point of 1 million active players each day, could the game's holdings be worth a billion dollars? Seems pretty reasonable considering where the market is already pricing things.

Should that occur, we are looking at an average holding of $1,000 per individual. Certainly this is not going to get one a property in Monaco, yet how many games can cite that? How many applications on Ethereum can make that claim?

Of course, this is only one application on Hive. There are many other tokens that people are holding, both fungible and non-fungible, that might have a much brighter future. When we total up the entire holdings of all individuals, what could that look like in a couple years?

Size Doesn't Matter

Leaving this pun aside, we can see how Monaco lacks the size to be a major player on the global scene. It does, however, compensate for its shortcomings in another way.

The fact that it can generate so much wealth, on a per capita basis, is a valuable lesson. In this instance, its lack of overall size is a benefit.

We can see this analogy with an oil tanker versus a schooner. Obviously, the former is much harder to maneuver and adjust. It is big, slow, and bulky. Also, each addition to it has, overall, very little impact.

A schooner is much smaller. Each person on it can have a much larger effect as compared to an oil tanker. It is a great deal more flexible while being able to enter areas that tankers cannot. This allows it to take advantage of more opportunities.

Could we see Hive being that way? Presently, there are under 2 million account ever signed up for. Compare this with Ethereum which has over 200 million wallets. Using this metric, we can how Ethereum is 100 times the size of Hive.

We can also see the value of the token along with some of the other projects on there. Ethereum is awash with money. That also dwarfs Hive.

Nevertheless, if we look at things on an individual basis, over time, where is the average person likely to find success? Right now, most are excluded from doing much on Ethereum since the transaction fees are outside the scope of what most people can realistically spend. Simply put, they are not playing with large enough numbers to justify it.

On Hive, this is not a consideration. We also have a variety of opportunities popping up that are enabling people to consistently grow their accounts. While it can often be akin to watching paint dry, the slow process of accumulating can often have a major impact. The situation with Splinterlands shows that. When the explosion happens, those who were consistent benefit greatly.

A few thousand new people joining an application or community can really change the value of what is being offered there. Suddenly, a token, with that addition, could 10x or 20x. This not only helps the earlier holders but means that each new payout period is issuing a lot more money.

We have the potential to witness this hundreds of times over the next half decade on Hive. Even if something doubles over a 5 year period, that is a fantastic return. Those opportunities seem to be everywhere on Hive.

While this is a loose analogy, Hive might become like Monaco. You never know, there could be a point where an individual on Hive is the blockchain equivalent to the average citizen in Monaco.

In the meantime, just keep filling those bags.


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

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55 comments
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This was very well written. I'm no cryptocurrency expert, and I'm relatively new here, but with the opportunities I've already seen, I personally believe we'll do better than Monaco

Germany levels at the very least

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Glad you are here and thank you for the comment.

Get active, engage, and look at add to the platform is my suggestion. And yes, there are plenty of opportunities. Be consistent and keep growing your holdings.

It will work out in the long run I believe.

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pixresteemer_incognito_angel_mini.png
Bang, I did it again... I just rehived your post!
Week 75 of my contest just started...you can now check the winners of the previous week!
!BEER
11

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We need to buy an island when the price goes over $10 and set up a blockchain nation :)

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We will make you the Secretary of Memes.

It will be a life long appointment to be carried out until your last breath.

Nobody can ever replace you.

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(Edited)

If France=Bitcoin, Monaco=Hive or as regards Italy, Hive is Vatican.

Good depict! However there is a long way and a need of many members for HIVE

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We need to keep growing, that is true. There also needs to be more activity from those who already have Hive accounts. Many have left.

In the long run, people will see the value that is being created here.

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I can't say yet if hive can become like
Monaco

all i know for now is that i'm holding on tight to my stakes and wait for the big days to pump some 🍾


Posted via proofofbrain.io

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It is a very good reasoning. In the end you always have to look for value. The size is important but it is not the same to invest 1,000 dollars than a billion dollars. The second will always be more difficult since there are not so many opportunities. As in everything in life, you have to adapt and know how to take advantage of the resources you have. Sometimes it is better to be a mouse head than a lion's tail.

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There is the opportunity for most who join to enjoy life changing money over time.

We see the opportunities arising. It is now up to us to ensure that we keep the expansion and value creation growing.

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Great compare! Hive is special and specific values

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What makes Monaco stand out is the wealth it has. The location of 3 James Bond films is known for its opulence. It is a haven for the wealthy.
I totally had no idea James Bond movies were shot in Monaco, that’s interesting.

That aside, Hive actually has the potential to be like Monaco. I believe Hive is I’ll get there, baby steps first.

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I've never cared about staying in the top 10 or top 20, I think #50 would fit us just fine. I basically just care about steady growth and adoption because I think enough people will see reason to invest, we just need people who see beyond the surface. Monaco is a good analogy.

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I agree. The rankings based upon market cap can be misleading.

Plus it lumps all in together, blockchains, applications, games.

Not all are obviously the same. A successful DeFi application that knocks a blockchain token lower is not a reflection on the later.

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(Edited)

Size doesn’t matter

We know that Monaco will never rival the United States or China in size. It does, however, top them in wealth per individual.

You got me to think of Hive’s future in a new way with this post. Somehow I hadn’t imagined this possibility of a giant per capita wealth. Most of us only picture Hive gaining worldwide popularity and spreading wealth to everyone. However if it doesn’t explode to a massive user base, then there are still many ways that wealth can flow to the larger numbers of people who did indeed get involved.

Thanks for yet another perspective. Always killing it with your expansive thought processes.

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That is true. Even if Hive is not the most populated blockchain in the world, that does not mean tremendous value is not here for all involved.

It is like @splinterlands. Will it become the biggest game in the world? Most likely not. However, for those who are consistently active and immersing themselves in it, the value of their holdings could be incredible over time.

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Size doesn’t matter

Of course it does!

You do not want to be Monaco. You want to be Switzerland. Monaco is small because it is exclusive (the opposite of inclusive) on purpose. Most of the residents built up their wealth elsewhere and only used Monaco for tax optimisation.

That is not going to happen for Hive so we better start building businesses (rather than seaside mansions). And we better size them up.

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We might say size doesn't matter, of course it doesn't. Hive is growing and individually granting people the opportunity to build something viable for themselves in terms of wealth, whatsoever. With the right application we can get to those audacious numbers, but hive is quite intention, that platform and opportuinities makes it inevitability attractive I guess.

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We can do both, the individual and the collective. Each time we hit the upvote button, we are generating more holdings for not only ourselves, but others too.

Over a long period of time, with so much coming online, we could see that really making a difference.

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Currently the platform is a vertical market, of interest to a niche within a niche. (crypto users, with some skills in communication and tech)

As you stated, it doesn't take much to change it from here.

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If we do not have a steady influx of users, it gets fairly stagnant though.

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If we do not have a steady influx of users, it gets fairly stagnant though.

That is very true although we can see from @splinterlands, how quickly that can turn around. A lot of excitement over the success of that one game. It is great to see.

We just need to 5x that.

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Great write up! As a new Hive user (Hiver? Hiveian?) I completely agree with the notion of "small (when compared to international superpowers) but mighty" when it comes to Hive.

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A lot of opportunities are forming on hive for those paying attention. The ones that leverage those opportunities will be very happy.

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(Edited)

Would love to hear your thoughts on various opportunities as a Hive veteran!

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A third of accounts becoming millionaires exceedingly unlikely, but a third of current active Hivelandians might be a different matter.

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Certainly 1/3 achieving millionaire status over time is not likely but achieving life changing money is not. Many parts of the world, even ten thousand is a monumental amount of money.

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In HIVE, you also have access to HE tokens so I definitely think it's possible. After all communities and games can also be a factor for the asset numbers people can have. I don't see why people can't have $1,000 each.

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Very interesting thoughts. Yes, Hive can be like Monaco in the sense that population doesn't really matter. It's the quality of the current and new population. It's the strength of the community and those here that really believe in it.


Posted via proofofbrain.io

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I never realized just how impressive Monaco is. This is a great comparison that you laid out here. I think it isn't that unreasonable to expect that there will soon be a number of wealthy people here on Hive, because of Hive.

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I'm really amazed that Hive isn't more popular. I think it's just a matter of time before the dam bursts and we get an influx of social media fugitives.

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Hmm... not at the moment or anytime in the near future, but on a long term basis, who knows? It's a bit too drastic though to compare the national GDP of a country like Monaco to a blockchain in my humble opinion, but I get what you were trying to express and the intention behind the entire post. If HIVE would grow economically like a digital Monaco for all of us, that would be something cool, no doubt about it! :)

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We just need a few more David Coultards - spent your life earning from driving fast and then invest yer earnings in some Hive real estate!

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Monaco I have heard fantastic stories of that place, where we can never go to live because of its high standard of life dedicated only to the wealthy, but hey
his analogy is fantastic here those who played splinterland day by day got rich overnight and some of us who just arrived we forgot about it and today we regret it for that
We are in time to accumulate and enter each new new hive project that allows us to stack, for those who know tomorrow to be better prepared for as it says when a bomb comes, knowing that it is our great moment and we can change our life forever, Unfortunately we have made some mistakes to play the world of defi and trading, but well, only by paying you learn, and sometimes it is expensive.

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Right now, most are excluded from doing much on Ethereum since the transaction fees are outside the scope of what most people can realistically spend.

That's me here. Paid $100 for less than $1000 transfers. Absolutely insane.

Suddenly, a token, with that addition, could 10x or 20x

I want that on LEO once the mobile app is out and running.

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Hive can certainly be like Monaco if the vision still holds.

Use case is not a problem

We just need more awareness and as time goes by we will get the due attention

We don't need to be kn top 20 to do a lot.

We are already doing a lot now. Let's just keep the pace

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I think if you give yourself 5 years to build and create a base you will be in a strong position whatever happens. We don't need millions of users but 1 million would do nicely which is easily doable over the next few years. No one knows what the world economy is going to do but crypto is in everyone's minds and people will join out of need for another stream of income.

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Excellent article that made me think.

While my concern isn't hive itself per se, it's the liquidity of some of the second layer tokens. I am wondering at what point is it beneficial to begin simply selling off some second layer tokens and liquify them into hive. Otherwise, if I continue to grow and stake certain tokens, will I ever be able to get my worth out of them should I want to sell them off?

I do agree that there's definitely a place for a blockchain like Hive, and I kinda like the fact that when my friends at work talk crypto, they are discussing litecoin and ethereum, and when I mention Hive, they all stop and listen because it's a crypto they don't know. :D Won't be that way forever I don't think.

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Interesting perspective. I have long thought that the future of Hive may be more niche than mainstream. IOW grandma might not be into, or able to keep track of her keys, so it may not be for everyone... Yet that is not a bad thing. I think if we can be censorship resistant, our value will surely go up over time. Size aint everythang LOL

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Monaco was a great comparison, so much wealth in .78 of a square mile. Putting into perspective, it is smaller than Central Park in New York City. Small. Yet, exceedingly rich, like Splinterlands. Small, yet, making people rich, of late.

I have to wonder why Hive isn't more popular? I don't understand how people can post all over for free or worthless points when they could be earning real money. Is it because it has crypto stink on it? (of course, that would only make me run faster) but, some people are afraid of it because they don't understand it. The learning curve? Maybe. But, it is earning and hopefully, we are all growing with it.

So why?

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Hurry up!!! Somebody!!! make a Monaco token on Hive-engine 🤣🤣🤣

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This parallel fits the profile each hiver
should manage to hold.
We may never grow big but we will grow
strong internally where the community
sticks together to make Hive the best niche ever.

!BEER

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Forget about community and the variety of brewing opportunities from within. Like the rest of cryptocurrencies, the future of Hive is pegged to the price of Bitcoin. If BTC crumbles to the ground, so does Hive follow suit automatically. Everything else were just fancy distractions

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I think that's a good analogy that it feels more like Monaco. I'm okay with that idea if that's the purpose of the chain. It wouldn't be a purpose i'd be interested in but i think it would make sense for the people on Hive. Now the reason i wouldn't be interested in the idea is because i don't feel that would solve any significant issue.

For example, Monaco what it really boils down to is being a playground for the rich. The head of state and the monarchy that they work on is really just a corporation with the vast wealth of it's economy based around the halls of monte carlo and ridiculous real estate prices due to the very little square footage. However Monaco almost shouldn't be considered a country but is a very successful affluent area of the map.

I can liken Hive to this greatly because these type projects most of them that occur on Hive at this stage. Is exactly that, a place for people with disposable income but an unrealistic place for any real economic solutions. It's not a problem that this is a perfect model for HIve as much as i think more inaccurate narratives harm it more than it helps it.

For example if the ecosystem were fixed around that point and theme we're a crypto gambling playground for people with disposable income. That makes perfect sense to me. that's really what it is. The problem is early on and even now these dpos systems can be presented like economic models that can change the world which i don't believe they are that. I more agree with the Monaco idea. I don't think it's significant because rich people with disposable income are already the benefactors or the standard economy and crypto economy. So you don't solve any significant issues in that. You make a new playground for them. Although the idea is suggested of some type of economic prosperity or advancement for others. it happens but i believe at a very insignificant level. Monaco absolutely more fitting. My goal for chains is to help them improve and advance the world not fine tune an existing system that already doesn't work for most of the population lol.

To me it's similar to saying gaming will save the world. Well gaming won't save the world. Certainly not skillset games because most of the world is not gamers lol. The average worker was a 38 year old cashier.

So the perspective of crypto i get from you all is build things that reinforce an already disastrous economy that doesn't work for the most people. We do the same thing here. So i know a point occurs and that's why i love blockchain. In that once the herd understands they have choices and they don't have to follow contrived ideas of everything should work like teh standard economy has the only thing they ever known. They can through blockchain tech change the landscape and they will. If i a person with very little programming skills and just a normal person. if i can go create an autocuration system like i did with bitcoin myk that rewards everyone in an egalitarian method in the code. I don't have to worry about the money because it's not about speculation and price manipulation but the service of the system to the people and that creates value. In that sense we already know it's going to be many many systems finetuned like ours lol. So this will self correct but i think this is a very good and accurate description of the maximum potential hive can achieve under it's design created by Dan Larimer which he recognizes as highly flawed. I"m very certain systems like btcmyk and the egalitarian algo that allows it to function. This would be more in line with his idea. I would say most cryptos compare to Monaco even Ethereum in my view. I think Ethereum has a much better chance than other chains with the exception of bitcoin cash which i think could be better than ethereum and i'll have a video later on about why. Yes Monaco is fitting.

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I can imagine Hive having the financial wealth of Monaco. Mostly my “wealth” here on the blockchain is tied up in Splinterlands cards. My initial purchase, plus buying a few booster packs, and plus the cards I got in the chests; and when I checked a few weeks ago the deck’s value is around $2k. Not bad for spending less than $50.

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