180 Days To Change Hive

in LeoFinance2 months ago

Time is a funny thing. If we consider it, we can embark upon a lot of mental masturbation. This is something that the greatest minds in the world have pondered, only to go in circles.

It is a being that goes by quickly yet, simultaneously, can go very slowly. We can lose track of it or see it ticking away second-by-second.

We can see this take on different meaning when we compare it to some other process. For example, in relation to time, for the most part, technology is forging ahead at an unforeseen pace. Yet on a daily pace, little changes.


The world of blockchain and cryptocurrency is no different. We see how far things have come since the release of Satoshi's White Paper 12 years ago. It is also evident how the pace is accelerating when we look at what was accomplished across the industry in the last 3 years. Things are really starting to fall into place.

One of the big things, when it comes to Hive, is to stress how we are still under a year old. Certainly, we have the legacy on chain that goes back to the start of Steem, yet March 20th marked the start of something completely new. It was from that point that this genesis of what we see today took place.

Many feel we have not come that far. After all, a lot is still the same, at least on the surface. The user base is still down along with activity. We have not seen much growth in this area. Of course, the recent run aside, the token price is still in the toilet. If this was a viable chain, according to many, it will be much higher.

A lot of this misses what actually was taking place. While there is still a lot of work to go, we are noticing a large difference. This will only be accentuated over the next 6 months.

To start, the blockchain is optimized compared to where it was. This makes a big difference in performance while also making it more efficient. We can not handle a lot more activity without upgrades than we could have before. This will come into play as we move further along.

We also see the focus shifting now to the second layer. @leofinance showed everyone what is possible. That became, if you will, the proof-of-concept tribe. Now, we are seeing others such as @ctp start to follow and step out on their own.

This is creating a situation where wealth is being generated outside of Hive. It is tied to the Hive ecosystem yet it is not in the base token. That is vital. We all know ETH is very valuable, ranking as the second blockchain in market cap. However, what is built upon it is going to be more valuable at some point.

Speaking of Ethereum, let us consider how quickly things changed for that blockchain. Back in the ICO craze, that was the go to place. Ethereum, while known for being the first smart contract chain, was, like the rest of the industry, just creeping along. However, when the ICO craze took hold, things skyrocketed. The price of ETH mooned and it seemed everyone was gravitating towards that chain. In short, it was the place to be.

It also had the advantage that CryptoKitties also took off, becoming wildly popular. These two events placed Ethereum at the center of the crypto industry along with Bitcoin. It still holds that position today.

In fact, 2020 saw it enhanced by the DeFi boom. Taking this chart from DefiPulse, we see what six month intervals can lead to.


Notice how it went from slightly under $1 billion in March to $8.5 billion by September. That is more than an 8x in a half year. Of course, since that time, things only further, providing another 5x.

This shows how quickly things can change.

So, is 6 months a long period of time or not? It seems we can say it is and it is not. Certainly it is enough time to see a noticeable difference in things.

With all that is taking place, there is a good chance that we see Hive in a much different place come August of this year. The next 180 days will truly change the outlook of this entire ecosystem. It is likely we see a massive influx of users with a few of the DApps that are being developed as well as a lot more activity. This is going to set the foundation to pull the blockchain to even greater heights.

All of us want massive growth and expansion. That is ideal yet not always possible. Sometimes the path to enormous success, especially overnight, is years in the making. Bitcoin's path to a $900 billion blockchain took more than a decade.

Hive is a grind. There is no way to sugarcoat it. We are at a point in time, at a place, where it is inching along. As much as we crave the massive leaps, the process has to unfold. We still have some holes in our infrastructure that require filling. Until that happens, we are trying to operate on car on 3 tires.

The biggest hole is the ability to offer decentralized, inexpensive smart contract solutions. This is a hindrance when trying to onboard communities. Many are not aware of what this all entails, hence are not "sold" on it. However, when we look at the potential market, we can see how enormous it truly is.


For example, WallStreetBets made some noise a few weeks back. That Reddit group had over 6 million members. While we can debate how many are still active, there is little doubt there are hundreds of thousands who are in there on a regular basis. Imagine if we simply pulled that one group over to Hive.

Of course, that isn't even the largest group. Imagine the fan base for some professional or collegiate sports teams. They truly are into the millions of people.

So what will it take for the floodgates to open? That is hard to say. We deal with different categories of people. There are users, investors, and developers. Each has different needs and must be catered to in an individual manner.

Nevertheless, it all really feeds into itself. We have a lot of development taking place which will, eventually, bring in more users. That, of course, will capture the attention of other developers as they see a target market already in place. At the same time, as this is taking place, investors begin to monitor the situation. Not all are wildcatters seeking the earliest entry points. Instead, the focus upon being early, yet waiting until some things are established.

For now, we just keep grinding knowing there are a few applications that will be released over the next few months that can start the process towards more users. A lot is being pushed out that will entice people who were never exposed to what Hive has to offer. While many of them will be single app users, some will filter through and learn more about what is here.

Ultimately, there is a positive feedback system that can be created on Hive. Up to this point, that system has been negative. We can see how this operates since Hive offers some unique opportunities as compared to other blockchains. Thus, activity tends to be tied to token price.

Over the next 6 months, as the Layer 2 solutions become even stronger, we will not see this as the norm. Activity will be divorced from token price as we attract users with different requirements. The next leg to Hive is not going to be based upon rewards but, rather, some other void that Hive fills.

As we near the end of the Summer, I believe we will see Hive in a much different place, on all levels. We are getting very close to the elbow of the exponential chart.

It is going to be a wild ride.

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

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everyone that is saying that noting is happening on hive was not here 2-3 years ago or he just forgot how it looked like :)

at the moment it is almost impossible to follow everything that is going on, and if you try to understand it all you would have to do that as a day job.

exactly! This can't be stressed enough; it has become such a better place and at this pace this will get amazing :D

Yeah remember the Steemit Inc days? They were pacing that would rival a dead turtle.

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i will never forget that i waited for 3 weeks for an account :D

totally agree with you

Hive-engine is actually making impressive progress. It is now decentralized. Imagine a hive bull run taking us in the single digit dollar (likely), if they manage their money + incentive structure correctly they definitely won't need to charge anything anymore.

Also, witnesses will not need to submit DHF proposals anymore, it will just be for devs outside the top 20.

It's easy to forget how much a price increase can benefit hive.

It is making progress. We will see what unfolds with all the development that is taking place.

A big move in the price of Hive is helpful, without a doubt. It makes the entire ecosystem more resilient.

Of course, it is the chicken or the egg. What comes first, the users, developers, or investors.

Right now, it is a trickle of each.

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I did't get the chance to make big on the finance but will try hard to make something out of #ctp I will that's for sure and I already am staking all ctp and leo I earn

There are other opportunities that can really send things flying. CTP is one of them. We will see more in throughout the rest of the year. The key is to find them before they explode. Not an easy task to accomplish.

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yes it's not an easy task because there are a lot of tokens on hive but I did buy lots of different tokens and I look out of token and community development to see if they will boom soon or not

There are developments also from the interface point of view. For the forums users, to have a forum interface would be a nice perk to have as this will be a familiar environment for them.

The idea with the sports fans is a tremendous one and small clubs can issue their tokens on a 2nd layer also providing some incentive for supporters and liquidity in this times. Win-win for both.

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I think sports holds enormous potential. They have loyal followings who are very passionate and active. Getting them tokenized would be enormous. I think that is the target.

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Development seems to be ramping up which is a good thing. Now we need more marketing to back it up which should be every person within the community of Hive.

Hive should be your central posting place and then promoted across all other networks. That's an easy thing people can start doing and should gain a habit of doing asap.

It benefits you by creating a following and people engaging with your quality articles, it drives new sign ups be it newbies or pros and it just overall brings awareness to the platform and what it's about.

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Now we need more marketing to back it up which should be every person within the community of Hive.

It is amazing how this concept eludes people. This is all of ours, not any single persons. It is a cooperative that we all benefit from. Whether the focus is at a tribe level or in general, it pulls the same conclusion: we all are to go out and promote it.

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6 months in crypto land is not like real life as the pace is that much quicker. Things are constantly changing and nothing stands still. I do think the next 6 months is very important for Hive as it has to have evolved even more adding not only more layers and options but new users as well.

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It is very quick, you are correct. The digital world going very quickly as compared to the physical.

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after 3 years of slumber I think most of us are excited to have a wild ride this year

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True but that is the point, Hive is only about 11 months old and much of the first couple months was spent converting over to the new blockchain and optimizing what is taking place.

We really are only just starting to hit our stride.

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I hear you, we see moon shots and it is easy to forget that sometimes slow and steady wins the race. I get a little antsy myself from time to time! I always was one of the types to enjoy the grind in role playing games. I need to look at this through a similar lens.

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The grind is the daily activity here that keeps things afloat. It is also all the code developers are laying down on a daily basis. It all adds up and can result in many strides over 6 months but, day-to-day, it looks like things are stalled.

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I hear you!

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100 percent upvote reblogged tweeted and tipped.

I love a good grind 🙂

!BBH 10

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The next leg to Hive is not going to be based upon rewards but, rather, some other void that Hive fills.

I think so also. The new applications and changes in the various communities will push HIVE to more users. I think the SPORTS community wants to do sports betting, trivia giveaways and other proposals to onboard more users. Leofinance has the microblogging and Leofi. We also have all the smart contracts and universal NFTs in the work so I think we will appeal to more users.

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"mental masturbation" is a A+
made me laugh every time it came to mind

On more of a serious note, with all that you touched upon makes me think: right place right time.

The growth of second layer front ends is something really stands out for me. Everyone now has an identity and there's healthy competition between the front ends to attract users/investors/customers.

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