The Explosiveness On Hive: Needing The "Lottery Ticket" Approach

in LeoFinance2 months ago

Things are really starting to get lively around here. For those who are new, we are in the midst of huge developments. I mean that literally. The developers who are working on different projects tied to Hive are really putting out some wonderful things.

A few of us were talking last week about how it is getting hard to keep up with things. There is so much going on, new things being introduced, that it will make one's head spin. For the longest time, one could follow different projects and have a decent grasp as to what is taking place.

Not anymore. It seems like many things are being announced, some of them out of the proverbial left field.


Source

For example, @leofinance is one of the more active projects in terms of the development. One of the long awaited applications is "twitter on the blockchain". This is going to introduce microblogging, or short-form content, to the Leo ecosystem. Since that project use Hive as the back end, all activity (posting) will be done on Hive.

Last week, much to everyone's surprise, we did not get an announcement about the new application; not that one at least. Instead, we were introduced to a project called CubFinance which is being set up on the Binance Side Chain. This is bringing DeFi to the Leo platform, and from how it sounds, in a big way.

Earlier, we got another announcement that it went live and the airdrop is in process.

This is just one project that is on Hive. There are dozens of others, all bringing out different updates and helping to expand the offerings.

Another example if Hive-Engine. Since January, they have been bringing out regular announcements, updating what is taking place. That exchange decentralized by allowing others to run nodes. Then they started to add to their DeFi offerings by establishing diesel pools.

Of course, this is in addition to more tribes/communities being added to the ecosystem. Each week, we see more options for people, many of which have tokens associated with them.

If one is not careful, all of this can get overwhelming. Heck, it is hard for those of us who are around a while to keep up, imagine what it means for newer people.

Questions such as what do I do, where do I go, what do I invest in, which tokens are worth holding are bound to come up. Again, the Hive veterans have many of the same inquiries.

All of this reminds me of an approach I was told years ago. It supposedly came from Warren Buffett but who knows (it might have been Yogi Berra).


Source

It uses a lottery ticket as a metaphor.

Picture a ticket with 20 boxes. Each box represents a stock. When a stock is purchased, one box is punched (shows how old this idea is). This continues until all 20 boxes are used.

The key to all of this is we each get only one card. Thus, our lifetime purchases are limited to 20 stocks. Ergo, it is up to us to ensure what we are investing in has extreme value and is able to generate outstanding returns long-term.

Obviously, this is from the mindset of an investor, not a trader. The point is to look at things very closely while not jumping on the "latest shiny new thing".

We can see how this applies to the crypto world. Expanding our view beyond Hive, we can see hundreds of options, tied to many different chains. Again, if we are getting overwhelmed on Hive, what happens if we try to understand what is taking place elsewhere? After all, we have Uniswap v.3 on tap as well as Ethereum 2.0. Cardano just released a major update. And Justin Sun is trying to buy Jack Dorsey's first tweet.

Simply put, it is impossible to be everywhere, in every project, and benefiting from all that is taking place. We simply do not have the time nor, likely, the financial resources.

For this reason, we have to kill the idea of FOMO and anything else that has us looking outside our "lottery ticket". Naturally, we want to be aware of what is going on around us since we will have spots still available, and the next venture might be a fabulous one. However, if it is not, we should not be tempted to jump onto it simply because it appears to be good.

It is easy to be like a kid in a candy store. On Hive, there is so much interesting that we want everything. This is a bad approach.

The explosiveness on Hive should be used to our advantage. We should look at the interconnectedness of different things and how they impact other projects. That will help to simplify what is taking place. Understanding there are going to be many 10x and 50x on Hive that we miss is the start of getting ourselves under control.

At the same time, we need to decide where our primary focus is. With so much happening, it is a lot easier to be dedicated to on-chain projects. Does that mean one should not look elsewhere at other tokens? Of course not. We have some room on our lottery ticket and if there are things that are outstanding, we want part of them. However, embracing limitation is vital.

If we choose to make what is happening on Hive a central part of our lottery ticket, then we can judiciously go about filling it. We need to keep in mind that if something does not "check all the boxes" for what we deem outstanding, perhaps it is best to pass on it.


Source

It is easy to spread ourselves too thin. This can be fatal when trying to build and develop from a business and financial base. It can also cause us to miss those outstanding opportunities when they come along because we were trying to keep up with our so-so projects that really do not have a great deal of hope.

For me, I chose to make Hive central to the construction of what I am trying to create. There is enough being developed here that will allow me to benefit greatly as some of the projects start to shift things from Web 2.0 to Web 3.0. Certainly, I have some Bitcoin, one of the boxes on my lottery ticket, but I am now being careful about having too much stuff spread all over the place.

The explosiveness of Hive is presently many opportunities. Some of those are starting to branch out further in an effort to grow their value. This is providing an added benefit of being exposed to other opportunities while keeping my focus close to center, i.e. Hive.

It is easy to see the upside after things are revealed. The key is to try to have some insight and projection so as to see them before they become obvious. Bitcoin, after it reaches $500K, might still be a good buy but, by that time, the cat will already be out. Everyone will know about it.

Hive is still pretty much an undiscovered gem. There are a lot of projects that are going to draw in users, kicking off the Network Effect. It is up to us to be on the ready for this, always looking for ways to promote and spread the word about what is happening.

This is an exciting year already, with so much happening in only 2 months. We still have another 10 months before we close out the year. Just imagine where things will be by then.

And lest we forget, Hive is still 11 days away from being a year old.

What a first year it was.


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

gif by @doze

screen_vision2025_1.png

logo by @st8z

Posted Using LeoFinance Beta

Sort:  

It definitely is overwhelming trying to keep track of everything. I can only say that you can just focus on what you can. I wonder how much wealth is being made by all these airdrops and projects.

You are completely right about projects being lottery tickets. We are just investing into projects hoping they will moon. If one or two moon, we will have hit it big.

Posted Using LeoFinance Beta

The opportunities will be more and more increasing and since nobody can cover everything, it will be necessary to choose carefully and dedicate oneself to the projects that - in the opinion of each person - are more likely to bring good results.

Posted Using LeoFinance Beta

Yes each person is going to have to do what is best for them. We will see a lot of opportunities that arise and it is vital to leverage them.

Posted Using LeoFinance Beta

You've been very close with your predictions over the past couple of years. Hope you can keep up the same track record for hive and Leo.

There are some very fun times ahead and it's great to be here day one looking at it. I can barely keep up with everything here now so like you said. Hold some bitcoin, eth, and a few more staked but focus here and stack hard.

I have some ETH and LTC. That was another I got into.

Oh and BTS, that hasnt worked out so well.

But LEO and HIVE can make up for it.

And CUB the way things are going.

Posted Using LeoFinance Beta

Currently learning about Binance Chain and getting wallet set up etc!

Posted Using LeoFinance Beta

You arent the only one. Been working on my metamask wallet and uniswap. Still have to get some BNB.

Posted Using LeoFinance Beta

I hit a roadblock and am stumped, hopefully someone does a video walkthrough soon. Would love to participate

Posted Using LeoFinance Beta

Yes, I hope that we do not stop at this point. We have to do more projects and with advertising and marketing we can reach the largest number of the audience.

Posted Using LeoFinance Beta

pixresteemer_incognito_angel_mini.png
Bang, I did it again... I just rehived your post!
Week 47 of my contest just started...you can now check the winners of the previous week!
!BEER
5


Hey @taskmaster4450, here is a little bit of BEER from @pixresteemer for you. Enjoy it!

Learn how to earn FREE BEER each day by staking your BEER.

yes there are alot going on the hive blockchain. I am also happy with teh Cub annoucement. needs to dive deeper on the DEfi on BSC, not gonna miss to farm. Wait fro those who wants to sell the claimdrop, so i can get better price. :)

does anyone setting up a party for hive anniversary, the CUB is our birthday gift?

Posted Using LeoFinance Beta

!LUV .1 for the line, "Hive is still pretty much an undiscovered gem.

Command accepted!

Command accepted!

Hey @taskmaster4450, you were just shared some LUV! See it in your wallet at https://hive-engine.com

Hey @taskmaster4450, you were just shared some LUV! See it in your wallet at https://hive-engine.com

This is overwhelming. I need a drink.

Are we going to have a hive birthday party in 11 days ? :) I think it would be cool if we celebrate in some form

Posted Using LeoFinance Beta

Impressive.jpg

I haven't heard the "lucky ticket" metaphor before. But it's certainly true, as many of us discover sooner or later that jumping from project to project hoping to catch the best APY of the moment is on the long term worse than focusing on a few projects you understand and see their value rising in time.

Posted Using LeoFinance Beta

Hive is still pretty much an undiscovered gem.

It won't be after Project Blank. When is that coming out? I'm patient but damn the anticipation is getting to me...

Hive is my lottery ticket... well Hive and Splinterlands cards.

Posted Using LeoFinance Beta

Yeah, your last article convinced me on Hive. I had no idea what they have planned for the upcoming months. It truly is a giant leap forward and a largescale bursting onto the scene. Using Hive as the underlying Honey is just a massive win in my book. The future is so bright its incredible. I just wish I could fall asleep and wake up a year from now when the pieces are in place. Seriously, the leap made in the last year has been pretty amazing but it really won't hold a candle to year 2 I'm thinking. Thanks for painting the picture as always....

Posted Using LeoFinance Beta

HIVE!D

HIVE IS central to DAPP Space Bruv.

High Regards!