The Future Of Hive: Monaco
Many discuss how they see the future of Hive. This article will use the analogy of countries.
In the world today, China and the United States are the two most powerful countries. After that you have a second tier, which could include Germany, Russia, and Japan. The EU, as an entity, sought to be a superpower although they most likely fall into the later category.
The two leading countries have the most wealth. China is the second largest economy, registering somewhere around $14 trillion. This is about $5 trillion less than the United States which comes in around the 19 mark.
When it comes to the individual wealth of some of its citizens, these two countries, once again, top the raw numbers. The most billionaires reside in these nations.
When it comes to millionaires, we see the same thing.
In raw numbers, there is little doubt these two countries dominate.
The Blockchain of Opportunity
Hive can be thought of as the "Blockchain of Opportunity". It presents users with a unique proposition compared to some other blockchains.
Will Hive be the largest blockchain? No it will not. It will never be the United States or China. This will be relegated to chains like Ethereum or EOS.
Please not I am focusing upon technology based blockchains, omitting the ones like Bitcoin that are asset based, deriving value in a different manner.
Hive is a specialized blockchain, it is not general purpose like the others just mentioned. It will not provide all the tools that fits all developers. We can see this in the fact that DeFi exploded on Ethereum, something that could not happen on Hive, at this point, due to the lack of smart contract capability.
Proof-of-Brain was the original concept that set Hive apart. Due to this, Hive became a great location for content creators to participate. The reward system offered a means of token distribution that was not present elsewhere. Suddenly, people were able to get rewarded for their actions as opposed to simply buying tokens.
Recently, Hive has done well in the area of gaming. This expanded the scope a great deal, coupling itself with the introduction of layer 2 tokens that are also distributed based upon the aforementioned PoB. All this combined results in an opportunity for those on Hive to get rewarded in many different ways.
Thus far, there is only one wealth center on Hive, the HIVE token itself. However, with the continued advancement of some of the projects, whether it is a tribe or game, it is likely we will start to see a lot of value being generated elsewhere. This is going to increase the status of many people on Hive. In fact, there is the prospect of "life-changing" money available to thousands who are active.
Monaco: The Wealthiest Of Them All
While China and the United States are the biggest in terms of their economies and, overall wealth, neither country holds a candle to the wealthiest nation on the planet.
Located between France and the Mediterranean, Monaco has become a well-known residence for the super wealthy. It is one of the smallest countries in the world, with about 40,000 residents – but has a wealth per capita of $2.1 million.
Many of those residents (about 2,700) are multimillionaires. The fact that it one of the only countries in the world with no income tax helps to attract wealthy individuals. It also serves as an offshore center for Europe, drawing many high-earning financiers.
Source
It also has, according to Business Insider, an individual GDP of $165,420, second highest in the world, trailing only Liechtenstein.
These are some incredible numbers when you consider the size of the country and the population. It is home to less than 40,000 people while covering an area smaller than Central Park in New York City. Yet, when it comes to wealth, it is one of the epicenters for the world.
At some point, we will see more than 7 billion people online. This means that it is possible for a blockchain such as Ethereum to have over a billion users. This is not what we will see on Hive. It is highly unlikely that many people will pass through the blockchain.
That said, those that do make their way to Hive, over time, can really put themselves in fantastic position. With layer 2 development along with possibly the reproduction of PoB tokens at the base level, we can see incredible opportunity being generated on Hive. With each new project, many are given the change to become "early adopters" again. So while that status might be passed as it pertains to the HIVE token, it could be available for hundreds of other projects.
It is likely that a chain like Ethereum will always have more millionaires, even moving into the billionaire status. However, Hive can be more like Monaco in that the users tend to amass more, on average, than the larger chains. Being smaller is not necessarily a liability, especially when you consider how a tight-knit community can spread the network effect over many different projects at the same time.
Think of this as an epicenter where a million or so people "reside" whereby they support most of the projects that are built here. Over time, the wealth of the entire system grows, at a rate exceeding all others due to the size. This results in a "Monaco-effect" where the average individual is much better off, in terms of his or her holdings, than those on other blockchains. At the same time, some other resources, from these individuals, could find their way in.
Simply put, we cannot be everywhere. As humans, we are creatures of habit. In the online world, we tend to visit the same websites on a regular basis. With tokenization, this habit means we are frequenting the same economic community. Here is where we see how Hive-based applications fit into this.
If we are repeatedly showing up and participating, the platform is distributing tokens on a daily basis. Those are who involved will be accumulating them from different areas, expanding on a daily basis. A couple breakthroughs which capture the attention of larger numbers, could then push this to a much greater level.
So, whereas Ethereum could have hundreds of millions of users, Hive would likely have 1/100th of that (or less). That said, it does not mean that it can be overlooked.
Monaco is not a global superpower but, when it comes to the wealth of its citizens, it is at the top of most lists.
If you found this article informative, please give an upvote and rehive.
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Your current Rank (31) in the battle Arena of Holybread has granted you an Upvote of 19%
:-) ni ce
Lol, numbers don't add up. Based on what numbers?
Stock market value? Banking value? Illegal wars, killing babies and shit. What numbers specifically, do those numbers include exactly?
Pure fake evaluation, only a few need to cash out or one even just one of them, the price gone. It's not there, it's in the air, it's not on the elementary charts.
Fake ECONOMY, Suck up the worlds wealth, this is also why China has been giving the US a break. They could pull the plug.
The community should idealized your concept
for #hive. You may never be the example of ether coin
but we can be the finest blockchain with a core
hivers and a community dedicated to it.
I think a good million strong should run that vision.
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Same as the design as this platform, so I was wondering if that this was "their" pet project. Nobody can cash out, and you need to drip the money to keep the imagination going. Looking the numbers all day and hardly anybody truly understands wtf is going.
Welcome to the Ferris wheel baby
Certainly right, hive might not have the ethereum population at the moment, but then like Monaco it can of course contain multi-millionares, creating wealth and empowering the one's inside of it. But then hive can become powerful we have the right tools
Fuck it, I'm on Wall Street now, give me 50.000 shares you cocksucker! Right fucking now, did you hear me? Get outta here shitbag. And fuck you too! 50.000 shares, you got it?
Always wanted to say that @ Wall Street. 🤣 hahahaha
And bring us 3 latte's please.
Thought provoking piece to be sure.
But I can't say I agree with everything. For example:
How terribly pessimistic of you! Why doesn't HIVE have that possibility? For starters, it's got THOUSANDS more times the scalability of ETH! Are you the same person who showed me this years ago: https://blocktivity.info/
I could go on and on about the differences starting with the devs, moving on to the community, and finishing with honesty and integrity.
ETH will be dead in 5 years time.
P.S. EOS, on the other hand is a different story and, along with HIVE, will be around forever.
Edit: see my most recent post (ironic how it ties in - seeing a lot of defeatism around here lately): https://hive.blog/adoption/@cryptographic/the-first-mover-advantage
Thanks for the input.
I do not believe Ethereum will be dead in 5 years. Yes they are having problems right now, no doubt about it. Of course, EOS is having issues too and there is a sector of the industry that wants to write them off too.
While I hold our developers in the highest esteem, let us not pretend that Ethereum doesnt have some very smart cookies themselves. To start, the last report I saw was they had, by a wide margin, the most developers of any chain (according to research of Github activity). The conversion to POS is not easy but I feel they will eventually get there. It might be a couple more years but that will help to alleviate their scaling issues.
Certainly Hive as enormous scaling potential compared to a lot of what is out there. It is interesting that this could be improved with the hard fork coming up as the devs stack the data in a more efficient manner. That said, let us not pretend that Hive devs have secrets that Ethereum is oblivious to.
I am not sure what is so pessimistic about saying there will be other blockchains that will be bigger than hive in terms of number of users especially considering, like your post mentioned, first mover advantage. Ethereum, for one, has that in the "virtual computer" world. EOS was suppose to be the Ethereum killer and, thus far, it has not come into being. Maybe it will come to pass which means that ETH will drop down. Even a Cardano or something else could fit into that realm. However, none of the degrades what is going on with Hive.
Hive was never designed to take on all that those blockchains will. There will continue to be development bringing out more opportunities for users to enjoy. Of course, most will simply come in for a game or two and that is the extent of their interaction. Of course, we want those.
However, when you look at the core, which is now perhaps a few thousand (out of the 10K who visit regularly), that will grow in time. Having a million or two as a core is, in my opinion, pretty powerful stuff. Those are the one who I would foresee leveraging Hive to max advantage.
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So much of what we see in all of crypto is colored with a perception easy money - a way to get rich quick - and that extends to HIVE as well: people think they will miraculously get rich by blogging (of course, there is nothing new about that either as people have begun traditional blogging with visions of gaining thousands of followers for ages now). PREDICTION: someday the vast majority will just comment and upvote knowing they will never be 'star' bloggers, and they will do so because they have HIVE, not the other way around. They won’t be buying HIVE to blog, rather they will blog because that is a nice “extra” that comes with the core attraction which will always be the underlying cryptocurrency. Remember, bottom line, blogging/commenting/curating (the pay is the same now) is nothing more than staking. People don’t buy crypto so they can stake. They stake because they have bought, and they buy the underlying currency for the reasons they buy any cryptocurrency: trustless and secure / widely distributed, and decentralized.
In my opinion, the core you refer to will be the creators, the hundreds of millions of other users will be those hodlers just mentioned above who read, comment, upvote, participate and receive their, albeit small, but nonetheless proportionate, share of the rewards too.
In-so-far as ETH goes, I'll be brief: birds of a feather fly together. Where in crypto have we seen more scams? Where have we seen more hacks? More incompetence? There're doomed. The ultimate ETH killer is ETH.
And, remember, HIVE will end up doing a lot more than it was designed to do. :-)
!ENGAGE 50
ENGAGEtokens.Bottom line (IMO) without SMT this Hive thing is a smouldering peat bog.
Burning yes, but did man achieve progress with embers or with ACTUAL FIRE!?
On "BLOCKTIVITY" ..the whale club here is tiny. Most left long ago. The ones that are still here don't really post. They just make their rewards plugged in to curation trails. Then sip tea or coffee in discord rooms, not sure what they talk about but likely it's mandatory to praise themselves on how well they impress themselves on twitter.
Back at camp, the poor people here try build a little camp fire here and there to stay warn and cook the few fish they caught in the river (some undersized barely reaching $10). It's a very peculiar system that this became. This was predicted by a smart person named @teknow a while back.. here is that prophetic post:
https://peakd.com/steemit/@teknow/steemit-the-digital-rio-de-janerio-poor-or-rich-or-poor
oh wait I'm teknow..
Anyway see that's the thing.. what is here now IS MOST DEFINITELY SUPERIOR to other chains. THE COMMUNITIES are the TRUE VALUE here. Regardless of token price. Without that SMT though, they aren't really treated accordingly. There isn't really a way to do that. There is no system that grants equal share of contribution for engagement. It's very selective rewards as the current system. SMT needed to happen so long ago. It still can happen because luckily the committed folks singing around campfires are the beating heart here.
So again, the point is SMTs need to happen.
Some time before we here, in The Milky Way, merge with Andromeda though.
Because aliens are believed to be far more intelligent than humans.
They might have blockchain working a lot better than us.
I don’t see HIVE so bad off without SMT, but I agree, it needs to happen, like you said, yesterday.
I’m not worried about the whale flight either, rather I’m quite pleased about that. The more decentralized, the better. But there will always be more readers than content creators, just like everywhere.
But with this I completely agree:
Without a doubt. Without the community there is absolutely nothing – hence that incredible symbiotic relationship between the protocol and the owners that we see on HIVE. There is none other!
!ENGAGE 25
Yeah the decentralised money is a plus but the problem is the middle class (dolphins + orcas) are also small. Plus that middle class is looking up (trying to impress whales) rather than looking down and helping small communities grow.
What your said to taskmaster:
That's precisely why SMT must be implemented. I can't see Hive achieving that distribution without it. Because a truly fair system would need to have implemented much more that just an upvote button. CHAT for example doesn't even exist here. Something which I believe should be the base for any social platform.
I believe if a person decides to bring their friends over but has absolutely no ability to write good posts and comments (let's call them: silent users), they are still VITAL to holding up the system by all their chat activity (open and private). Rewarding that (incrementally) assures retention of every user and gains more as their network is onboarded.
That's why I see all blockchains as still basic. I wouldn't be celebrating them as "web 3.0 ready for you to leave 2.0" the way many are broadcasting on their splash page. When they can't even do basic CHAT it's blatantly clear why people leave. Because it's completely backwards to join here then realize discord or telegram is where you'll communicate with your network. All other mainstream platforms have chat embedded because the content feeds that need to be entertained, but the communications makes sure that person (and their friends) stays seated in your system.
IDK for sure, and I try to just give my input, so keep that in mind with everything I say. It seems to me though that everything has its place. Discord's original use case was for workgroups, correct? I think that's the case, and it works really well for that. A traditional blog forum has another type of use, and even though private messages are possible, they are not an important part of users' interaction. Personally, I'm an open source radical, to the point that I would ban all private messaging! 🤯 Especially with a community dedicated to managing our collectively pooled money. There should be absolutely nothing secret here IMHO - everything should be out in the open.
I do agree with what you say about everyone (meaning the majority) looking up instead of down, but isn't that a reflection of human nature, of life in general? I'm not saying I agree with it though, just that it's more of a general social issue that needs to be dealt with on a wider scale and with lots of patience and understanding.
As far as rewards go, I too think it's imperative to find a way to make the smaller vote counts worth the same (at least the same) as the larger. A voting power of, let's say 50¢, should be worth the same 50¢ on a comment with only 50¢ of upvote as it's worth on a post with $50 of upvotes. Individual comments are penalized under the current reward system, and that goes contrary to what needs to happen, again, IMHO. Individual comments, like these, are the lifeblood of any social media. People need to have the same right to vote a friend's picture with the same weight as their vote would have on Super Poster's rant about centralized exchanges, that is if we really want HIVE to go mainstream.
I also think more equal vote weighting for the smaller vote counts would also go a long ways in getting people to start looking down, or at least across anyway ... at the person in front of them. 😉
I agree almost completely with you man so it's actually good that your viewpoint is expressed here because, (imo) that's partly the problem here, all these coder (and speculative) heads don't listen to anyone but themselves as to what makes a good system/platform. They think like nerds but mainstream isn't nerds.
Where I do disagree with you is in response to your open source radical ethics, but still holding this belief:
It just makes no sense to want to onboard masses that by default expect chat and private messaging. It's literally the fundamental of why social media has the prefix social. I get your viewpoint and yes I agree that some discussions must be open.
However masses don't all share intimate truths about themselves openly. That's why chat and the private messaging appeals. Specially when this place claims it's Web 3.0. That would be like FB launching as just a place where you share your phone number but the actual conversations are had over the phone. To join this and then need to download another app for chat is completely ridiculous.
People in large networks form personal bonds in communities (check ✓) but they then share their personal lives and open up to each other in private discussions. Now obviously that's an illusion because FB for instance has complete access but that's a trade-off for convenience. People here have no choice, they must discord, but masses see that and say no thank you.
Truth is even masses are seeking a better system and that's why encrypted messaging has gained popularity. For this to not be the standard of these "web 3.0" systems is why I see them at basic. Just building a backbone and thinking this is superior is why crypto projects have remained stagnant for years since that ICO boom where every group was claiming that they were revolutionising the world.
So really IMO, to your point on your own blog. That's likely going to be the outcome. Another perform will launch with a complete package and then just like a bath draining. Everyone will migrate there. The fact none has launched yet is again why I always say, this crypto game is basic. Everyone thinks "tokens here, why aren't they coming" but that's because rewards aren't what people seek. People seek connections with other humans. COMMUNITIES again, the proof.
You make a very effective and convincing case, and I must say that you have got me rethinking my position. I always come back to the realization that compromise is the essence of agreement, and that completely radicalized ideas never meet with reality. In this case, as you say, there is good reason to incorporate the naturally occurring private nature of some aspects of our social relationships into the media setting itself, precisely to better reflect and serve participants’ communication needs, or, in other words, life itself. Nicely done!
!ENGAGE 50
Yeah man there's always patterns that make sense as to why things fail or succeed. Humans are social creatures so if human is central, then that system must sustain the human activity as a fundamental.
Without that infrastructure of connectivity then there's just no robust platform. That's why I see crypto not yet a real product and why it lingers between failure and success.
Speculation is the main game. This Hive thing has positives, but that growth can't happen until crypto and blockchain evolves more. Some years yet in my view.
By then HIVE will cost $200 ... minimum. 😉
ENGAGEtokens.ENGAGEtokens.Wouldn't that be nice? I think we have a lot to offer in the tight-knit blockchain community here that others might not have access to. I think once more developers realize the almost instant feedback they could get for their projects by building it on a platform with such a strong social aspect, the more we grow.
It doesn't even need to be crypto developers, it could be developers who are great with other software but haven't really done much in the crypto sphere. I think that's where our strong suit could lie.
The next step in the evolution, if I had to guess, would be to attract the entrepreneurs and business development people.
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Well I'll tell you that anyone from those two fields that does research will not put money into this. Not the way it is. There's nowhere near the toolset to build anything robust. That's not guessing that's truth.
Splinterlands and Leofinance have a solid product to attract community growth. They in fact would likely be doing better without depending on Hive.
Nearly every other project depends heavily on emotional sentiment. On how much the 'ALREADY HERE USER' wants it to succeed. On how much that 'already here community' is committed to supporting it. If that exists, like for the NFTshowroom, there's likely ability to proceed, grow and succeed.
Other projects like Quello though, die almost instantly because their product is really just mirroring an external product BUT NOT attracting external users. Just giving that which is out there, to the very few which is in here.
No business mind would think "ok I want to succeed by creating an already niche product, to an even smaller niche network".
You succeed by opening up a niche to the broader public, to then eventually not be a niche. Which is actually the 'startup story' of so many now mainstream successful businesses.
I do believe in your analogy, Hive is not an ordinary blockchain. Hive is going to be a great blockchain social media.
Interesting. I always thought Hive is not the kind of place for mass adoption. I see it rather like a niche for a more sophisticated type of a user. Quality over quantity. It's not always about the numbers as much as their influence on the market place.
Interesting analogy bringing in comparisons with countries. I believe that any cryptocurrency with a solid project and a strong community can last for a long time, because we know that of so many existing alts with their projects many are shitcoins ...
It would be a beautiful dream to be able to imagine that HIVE can have a day when it can finally have a massive membership in its network. Over the years, more people will get to know the alts and who, you know, can become a Monaco. Layer 2 tokens and games are already doing their part.
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Very nice post.
In my opinion, you are right about the general idea but being big and being popular is to different things.
You need fame and to build a legacy and a name.
Monaco is located in French Riviera one of the best and famous places in Mediterannean. The city hosts take the worldwide famous Monaco Grand Prix.
The city of Nice, France, lies 9 miles (15 km) to the west, the Italian border 5 miles (8 km) to the east. As I read somewhere there are many features have made Monaco among the most luxurious tourist resorts in the world and have given it fame far exceeding its size.
I really enjoyed your comparison to Monaco. Sometimes, dumb people like me need an even more simplified presentation to fully grasp some of these concepts. I really hope that HIVE can amass the amount of users that we hope for in the future- the blockchain has a lot of potential and I would love to see it flourish rather than flounder like some of the others in the past I thought were great projects. Thus far, HIVE seems to be what those failed projects aimed to achieve, however, so that alone gives me a lot of hope personally. Thank you for your article! You're always a big help for me taskmaster
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