Climbing up the ladder on Hive

I dropped a tweet yesterday and @natepowers responded to the tweet. We had a short conversation about the market and how people respond to it.

Nate echoed a sentiment of mine about how this is an opportunity for new blood to join the upper ranks. I am totally in that camp and I've been rising up the ranks on Leofinance by capitalizing on the discount sale of Leo.

My mission in Leo, a relatively smaller unit on Hive, has been to rise up the ranks in terms of curation power. That has been achieved, at least with respect to accounts around me but actually breaking into the top tier will not be easy.

The main problem, as I highlighted in the tweet is the fact that whales generally have more money than non whales. This means a bigger profit to keep in reserves and a bigger wallet to buy any dips.

Also, there's no way to actually break into the to without making the occupants super-rich, thereby earning them bigger profit, increasing their wallets, and then offering bigger reserves for any dip.

Healthy competition

It's a cyclic situation but not necessarily a bad thing. I think it is healthy competition for stake and governance power. Every time I read about how stakeholders of s company jostle between each other to increase their stake and governance power, I think "wow, that company must be awesome".

It's pretty much the same with hive and hive front ends. Your staked asset is basically your share in the company and working to increase shows a certain level of confidence you have in the company or project, as we call them around here.

There is no perfect strategy

Everybody works with a scheme that favours them. Some people accumulate and just keep their heads down. There are others who are better at trading, so they take advantage of the logarithmic variations in the price chart.

The point is there's no laid down strategy, particularly when it comes to something as dynamic as hive and hive front ends. To climb up the ladder, each individual has to consider their unique position in the general scheme of things and then figure out how that can be improved upon.

This means you have to devise how to leverage the two fundamental parts of the Hive blockchain to grow your account. So in addition to market buys, you still have to consider how to leverage the PoS and the PoB to ensure mission success.

The PoS or Proof of stake is pretty straightforward, as this focuses on your curation activities. Just remember to upvote posts and you'll be fine. Although hive adds an extra layer of tediousness because of the time-based curation curve, regardless of that, profit is still earned.

The PoB or proof of brain part is where things get a bit more tedious because that's the social part of it. Without going too technical, PoB basically requires you to discover people/content or make yourself more discoverable. Of course, doing both will maximize your profit and improve your experience in the community.

High Confidence

The fact that people are so interested in buying a coin in the midst of a dip shows some level of confidence in the project. Hive's unique social case ensures that there's healthy competition between community members, as we jostle to climb up the ranks.

This is reflected in the general feeling about Hive in the market, as 84% of users of Coinmarketcap were feeling very good about Hive today.

This feeling will of course trickle down the ranks to sub tokens but the general level of confidence shows that accumulation is most likely going on in the background. It is safe to say that the whales are accumulating in the background because they have more money, but many others are also working hard to grow their stake.

Will there be a change in the hierarchy? I highly doubt it but I suspect that the middle class citizens of Hive blockchain will become even bigger, thus ensuring that there's still some sort of balance in the system.

Posted Using LeoFinance ^Beta