RE: Hive: Mini-Ethereum?
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I have never liked ethereum because of its the high transaction fee. Maybe hive spoilt me with feeless transactions, but having to pay so much to transact is a big turn off and I might say that ethereum is missing out on micro players who are as important as whales because cumulatively they bring a lot of volumes, hive is an example of how this plays out. So I wonder how we are not a top 10 coin. My guess: people aren't getting into crypto for the right reasons yet.
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Yep; but they don't care about the micro players and the big end of town does not care about the fees (they are used to fees)
The 99% can move their money and engagement elsewhere. Nothing is static. At some point, people would want to use blockchain technology for something other than making quick gains. When that happens the tide will change. I believe.
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Agree; but its a question of uptake and users for any decentralized system to get critical mass. But hive is getting closer to what I consider a critical usability level where the apps are easy to use and add value to peoples lives. Uses will only come on mass when its easier and more functional than what they are used to (to most decencasliation is a bonus not a necessity).
Following the same path as the Internet. Mass adoption came long after it left the "geeky" stage.
Ease of use was something missing in crypto. It is starting to move in the direction where the average person can join.
Hive is making strides, something that will help it stand out in my opinion.
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Keep in mind, as the price of ETH keeps rising, so does the cost of transactions in USD terms.
If the price does hit $4K or $5K like many expect, that could really send them skyrocketing.
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Yep; I guess they have their hopes in ETH 2.0
They do but from what I understand, it will be two years before the fees are addressed.
That seems like they are overlooking the elephant in the room to me.
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The fees will be a problem when the masses start to come on board. Think about the different applications and what crypto is used for. How can that operate with high fees? Gaming for example, will get devastated on there.
Smart contracts that are decentralized is vital to the future success of Hive. That will really open another door that we do not have right now.
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If we fork hive into telos we can have ethereum metamask experience for Hive with 0 fees using ethereum virtual machine
