RE: Venezuelans, Cryptos and Hive - An Explainer
(Edited)
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I think I may need to write a response to this. Of course I want you here! You have been one of the best surprises in my Hive experience and I know a bunch of others who add a lot to the community but I want to start a conversation about how to keep the token price up despite the difficult situations that some people are in and the attractiveness of cashing out.
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That's certainly a conversation that we could do with having. A currency needs to be able to have a use case, but how do you keep the value up without an asset to peg it to? I'm also curious as to what happens in 2035 when the production stops. Presumably that means no more reward pool, so how do you earn Hive through blogging then?
It's going to stop? And there I was with the impression that it was just going to slow to a tiny trickle, as I tend to have an aversion to cryptos with a hard cap ^_^;
You're correct.
Oh yay, thanks for letting me know :)
It's not fully going to stop, it will halt at 0.5% yearly inflation compared to the currently ~7%. Meaning if there are 1b hive coins out there only 5 million new Hive will be created yearly along with HBD.
Now that makes more sense. Thank you for clarifying.
Aren't we all living on Mars by then, anyway?
Just kidding. 20 years sounds like ages to me but interesting to learn this. I had no idea.
I'm too old to want to be moving that far. 😆 Halfway across the world was enough.
Haha, I get it! And you're not that old :>)
Please do, bro. Out of all the people I've met in this platform, you and @vincentnijman are the ones whose perspectives I appreciate the most, I'm glad we met and I'd love to see what you think about this topic.
I think the issue with the value is about rate of expansion vs. rate of production. Essentially, the more people hold HIVE, the more territory HIVE occupies, but the thinner the shallower the penetration is. This will improve as time goes by, but right now, I think it's generally a good thing even if it's a bit frustrating that the price remains frozen, it means the HIVE tree has a lot of branches that are only now bearing fruits and seeds.
There is a much bigger conversation I want to have about this but the summery is:
It’s really about the quality of users and the ability to attract new users of similar quality OR investors who use their stake for deflation and curation. We need both and the problem is that too many of one may scare away the other, but this is solved when enough people are dedicated to the platform. So I think those who cash out are as welcome as they are dedicated to contributing to the platform, whether it be by the quality of relationships they build or the effort they put into content creation or outreach. There are many ways to contribute!
The price will always go up or down based on how much people are willing to buy or sell it for, so if people want to sell I recommend they don’t accept low prices unless they have no choice.
Also the best way to handle the amount of people trying to live on their hive earnings are to increase the ways which people can use hive. It would be much better balanced if more people offered their goods and services for hive. It’s not easy when there is limited usership but hopefully once people start meeting up again it’ll get easier.
This platform is only starting! And there will be other projects to pursue as well.