Opening The New User Floodgates Or Steady Sign Ups?
The world of crypto is filled with people who want their favorite projects to moon. This is no different than on Hive.
However, for that to happen outside the pump and dump world, the network effect needs to take place. Sure, there are a lot of tokens ranking in the top 100 without much on them. This causes people to look towards them with envy.
The challenge those tokens will have is eventually people will realize they are nothing more than promises. We all can find projects that sound promising. Back in 2017, every other token that came out had a great story with it.
Of course, we know what happened there. If we sift through the wreckage, how many of those projects are still in operation? More importantly, how many actually are on path to achieve anything they claimed?
Truthfully, the crypto world is full of broken promises. It is a sad state yet this is our reality. Some of it comes from fraud and scams while others had great intention just not the ability to pull off what they were seeking.
Nevertheless, here we are today. The great thing about Hive is we are still plugging along. Many feel this is a dead animal. I differ completely on that. We are seeing so much development that a few projects are primed to breakthrough.
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When that happens, we will be confronted with another quandary: will we prefer a steady flow of sign ups or the floodgates opening with large numbers coming on board?
Both scenarios have pros and cons. Obviously, the later could overload the system. Yet it would send things flying in a direction we have not seen around here.
The steady flow will allow for more structured growth and have better retention rates. That said, it will leave Hive mired in the position it is, a problem according to many people.
Personally, I feel that either option will work out. While we do not know what the blockchain can handle, we are certain it is a lot more than when it was forked. The optimization that was done throughout 2020 is going to pay dividends. According to @blocktrades, we can see a 10x in the capacity of what the blockchain can handle. Since we are presently nowhere near capacity, this means room for a lot of growth.
This entire industry is a marathon not a sprint. People often forget that. It is easy to want the quick money that comes from immediate success. We must keep in mind that Bitcoin is now 12 years old. There were a lot of years where it was stuck in neutral, not really going anywhere. Plus, Hive is a completely different animal. Looking at token price is probably the biggest mistake anyone can make since it misleads about what is really taking place.
Over the last few days, there is a lot of activity on Twitter. This is in alignment with some of what is taking place out there. Hive is starting to get some attention. Nevertheless, the big fish still eludes us.
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That is okay. A couple days ago I put out a video detailing how we need to change our outlook. Hive has what they want. All the calls for decentralized social media has an answer: it is Hive. At this moment, we are lacking a few applications but they are on their way.
Once we have a full arsenal to present to people, we will be a major hit. Gaining attention will be simple. With an alternative for both Twitter and YouTube, both decentralized, we can easily see how the masses need what we have.
This is the attitude I carry. What else out there can compete in this regard? We are light years ahead of most others. Look at the numbers which spell out users, they are pretty bad. Hive is at the top of the list with most of the applications.
Hive is filling in its holes. There are a number of projects working on smart contract capability. This will be a major addition. We are also seeing steps towards being able to offer viable alternatives to Ethereum's DeFi. This is all starting to come together.
In the end, even steady sign ups will end up as the floodgates opening. There is no way that Hive will be hidden forever. Many feel that it is eternal yet it is not.
Ultimately, one needs something to offer people. Presently, due to the actions of social media companies (and Wall Street), many are upset. They are starting to ask for alternatives. The problem for them is they do not really exist.
On Hive, we are putting together the solutions, very quickly. Over the next month, there will be applications out that attack a couple of the realms mentioned in this article. They will be viable products that can be promoted to the users of social media in their areas of interest.
This is something that I do not see taking place elsewhere. Most, if they are pursuing some of these avenues, are having to start from scratch.
Hive's timing is working out ideally.
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I agree. I think the blockchain can take more but the fear is DoS. Attackers can create accounts to load the chain.
Central apps has ways to block these attacks.
Decentralised app has the creation fee as a mitigation.
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Yes although communities have a way to protect itself.
That doesnt help the entire blockchain but it does help to protect things from attack to a degree.
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Still I think that if the infra is down then all layers on top suffer.
Maybe enhancing DDOS attacks in the infra can help, but a cavity in open source (I think open source is the best thing for human progress, still need to be aware) is the transperancy for attackers.
Thats why I think the creation fee is the besy option so far. That said, the onboard process should be much friendlier and faster. Also layers that are willing to exchange fb/google identity to hive creation can solve the issue.
Think of a company were you login with fb account and give permissions, they create an account for you and pay the 3hive. Later they use the data to compensate. This is not the ideal onboarding but it could be a middle step for fiat/data-merchants to turn decentralised.
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BEER.Hives timing really is working out perfectly,while it struggles to be seen, others are struggling to start of om scratch with nothing but an idea. Hive already is a working product, available in the best times when the traditional media is going to shambles. Let's get ready for the masses
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I personally am not bothered about the price of Hive. As you mentioned , the price doesn't reflect what's taking place inside the Ecosystem.
There are so many projects inside the hive ecosystem that it feels like it's a separate world within the internet .
Most often we see Hive as only a blogging platform but we shouldn't forget , it's much more than that.
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I prefer a slow but steady increase in users. Even if we can handle the large inflow of traffic, I am more inclined towards gradually fixing any issues as they appear. If we have a sudden influx of users and some sudden issue occurs, some of the more inpatient users might just leave. Although they may come back in the future, first impressions are vital if we wish to retain users.
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I still think that we are in the perfect time and place. Networks are changing and evolving and we are being part of the future.
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I'm just gonna be over here plugging away, plunking my power ups in as I can, building my account so by the time the speed picks up I'll be happily swimming with the dolphins. :) I saw the potential in '17 when I was just a wee redfish and we had that oh-so-temporary blip; I believed then and I believe now that as we continue to build on our more stable foundation, that I want to be in a position to utilize this opportunity the best I can as it grows!
I know a bunch of people who were new with me then gave up as soon as the market turned bearish, and many more have come and gone in the interim. They'll be back with the same complaints if we ever moon again, about how they missed out. I'm hoping I'll be doing the happy dance about how I stuck it out. ;)
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BEER.As you have stated in the past patience is essential, and this is a long term game. Trying to create a flood of new users is likely — and I say this based on past experience — to NOT end well.
One of the current developments that seems quite promising is the notion of more communities following in the footsteps of LeoFinance. In terms of selling an idea, it's much easier to pitch to a niche than to the general population. The cool thing about niches is that their followers tend to come with built-in niche loyalty. And so, both attraction and retention is easier.... and we have the beginnings of a number of highly relevant niche communities that could very easily expand on their owe unique identities, as they stand separately from Hive, as a general idea: StemGeeks, Natural Medicine, Sports Talk, Creative Coin, Foodies, etc.
We may all collectively "hate" Facebook, but we must also learn from them. How do people use Facebook? Not that many people are just "on Facebook" as a standalone idea. Most likely, they are part of interest and hobby and "movement" groups they are interested in.
For example, I see how a lot of people a very active in "Pet/Cat" groups (happens to be my area) but don't necessarily post much (if anything) to their general walls. That's just how we humans structure our activities... we have stuff we're interested in."
Think of this, as an analogy: Not many people say they are "on the Internet." That term hasn't really been used much in probably 15-20 years. What we DO, is participate in pretty specific things when we're online... and hence the power of developing Communities as an ongoing and viable pathway to growing the entire Hive infrastructure.
=^..^=
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If it's flood gates be prepared for a hard sell out after. Always seems to happen no matter the project or crypto. Something brand new everyone flocks to it over buys it and as the initial hype wears off the coin goes into a heavy fall. However at the end it steadies out at a new high. I welcome a big burst honestly. One is needed in order to kick start things. In the era of the internet slow and steady no longer wins the race.
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I don't really want Hive to get pumped on markets, I would rather see it get vested like LEO, currently they have over 70% vesting and 2% liquid whereas right now there are still a lot of draining the rewards pool and selling Hive on exchanges. If those who are vested are serious we should all power up more Hive and Hodl more HBD. If positive price movement correlates with new accounts powering up and increased activity then that is good.
I feel this is something that we should not try to restrict, let all come here and experience.
If we have already 10X capacity let try to fill it as soon as possible.
Secondly, we can put effort for 10x but we have no idea how much will be conversion, so let's aim high only.
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I sense a more positive and hopeful attitude on the Hive blockchain for the first time since the last bull rush. Maybe better things are closer than we think.
I really look forward to this moment, and this will really be interesting. I've been asked on ocassions that is it possible to advertise your business on hive blog or leofinance. I only gave them hope that the platform is capable of accepting that with time, though work is ongoing to incorporate that into the system. I hope for this transition quite soon.
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We will have a good stress test for Hive when Leo's microblogging app is out. While the app will have the same 'caching' mechanism as the updated LeoFinance interface, the app will be based on short messages, which take little time to write. To have a conversation, previous 'comments' should be written to the blockchain, before the conversation can continue. At least that's how I see it.
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I have a feeling ________ & Splinterlands will have a large role in brining in new users. A floodgate scenario can bring lot of media attention. So there's extra perks to that. I'm sure Hive could handle onboarding million users in a week. Issue would be RC. But even that will be great for Hive price.