What Will Make The HIVE Token Move Upward?

in Threespeak5 months ago

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This is a video relating to a discussion on discord that I had with @nealmcspadden.

Many are wondering what will make HIVE take off. When we look at where the value of a technology based cryptocurrency comes from, we are related to looking at the development taking place.

With HIVE, which is a utility token, we find that the user base is vital. Because of the Resource Credits, demand for HIVE increases along with users. Of course, this is going to require a lot of users since one can do a lot with a few RCs.

Governance is something that the industry has not done a lot of experimenting with. However, when we look at PoS, stake is what determines governance.

In this video I discuss my views on how demand will come from other wealth centers being created on Hive which will offer incentive to individuals regarding governance.

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Hive is, as you suggest, a utility coin. As such, it's probably not going to experience wild swings any more than ETH will experience wild swings. Right now, we're seeing all this action on ETH related to DeFi, but that doesn't mean ETH is mooning... but some of the secondary level ERC-20 tokens ARE mooning. More will.

Maybe what we should look at is not so much what will drive up the price of Hive as where the next LeoFinance is coming from.

But back to the main show: What could raise the price of Hive?

A peer-to-peer Hive based marketplace, like an eBay/Craigslist clone except running purely in Hive. A way for people to trade globally, independently of fiat. It would create demand for Hive, and strengthen the USE cases for Hive... which might attract more investors. If you're running a $100M/year marketplace, that's going to tie up a lot of tokens and likely drive the price up. It will also help in terms of lifting Hive's anemic trading volume.

I like the marketplace idea. It would be great particularly for digital goods.

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    (chat to replace discord and connect the crypto world and entice the regular internet normies)
    (an on ramp for easy entry into crypto and easy no-brainer usability of rewards in real world through fiat exit and merchant connectivity)
    (dominate the crypto space with mobile so that other chains use it as their frontend to get eyes on their projects)


To do that you got to reward TIME. The system currently is designed to reward WORK. That is why people come and then they go. Even those that commit to work realise that even then it's little rewards so the system by design makes sure the audience continues to shrink.

The masses won't be the ones that sustain price. The developers, businesses, entrepreneurs, speculators are who WILL BUY BIG once they see that there's both the tools here and the audience to cater to the audience/consumers.

"What Will Make The HIVE Token Move Upward?"

To get out of the Social Reward Experiment with a ton of inflation and focus on being a platform instead. RC's, downvotes, a list of things. This is too complex to be a social network. You need to look at the big picture

Be a platform for DApps exclusively.

-- I have spoken

What does inflation matter?

It seems that LEO took off and has twice the inflation of HIVE. Also, nobody knows what the inflation rate of ETH is because even Vitalik said he isnt sure how much ETH is on the market. If one doesnt know what is out there, how can an inflation rate be calculated.

Of course, whatever it is, it doesnt matter since the growth rate on Ethereum is enormous right now.

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A marketing strategy for HIVE is needed in order to help the price considering the value that it provides. A simple action like implementing ADS at its core and BURN them (there is also a proposal for that) would help the price. And putting together many mechanisms like this, the price not only will be steady but will increase.

In my opinion there is so few marketing activity done for HIVE, the only big thing I remember this year was the listing on Huobi. But it is not just to get to high places, you need to provide at that level and keep it there.

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Maybe that Justin sun stop to sell in the market
I guess

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To raise the price of any currency we all know that investment is needed, and to get investment we need good leadership, a viable roadmap, more marketing, when I talk about leadership I mean people who can really convince investors to put money into the platform. We have many and varied applications that we must take advantage of and make the most

It needs to be the go to place for people to come and chat and talk about crypto for everyone. That means everyone on youtube, trading view, crypto news sources, crypto journalists everyone. This is why Leo finance is going to smoke Hive if they can pull it off. It can be a real hub of activity potentially but first of all the downvote needs to go and to level the playing field. bring them here not turn them away. Ad revenue and token burning will stop the bleed potentially too. Before steem was relentlessly dumping steem we could turn that around and be relentlessly buying and burning.

4.6 years in... it needs a story about why something is going to go differently.

FOMO, Marketing, a sense of excitement.

There are lot's of ways to do that.

With HIVE, which is a utility token ...

I beg to differ with you on that - I consider HIVE to be a cryptocurrency, and just as good as, if not even better than, Bitcoin. IMHO 'token' describes the entities that live on somebody else's blockchain, in our case, everything that lives on HIVE. (Something like I outlined here.)

Well, we can't agree on everything! 😜 But everything's good.

Okay perhaps I should have written utility coin instead of token.

Although many use the term utility token even with ETH, EOS, etc..

Either way, there is a lot taking place on here.

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I know and understand exactly what you mean. It's a common view. In some cases I think it's even for legal reasons, but since I'm a free bird with nothing holding me back, I like to continue using the word cryptocurrency whenever possible and when appropriate, of course, and to tease a bit too. Just a little crusade I'm on, nothing else. 😁

Great point about the importance of governance and need for wealth protection on the 2nd layer propping up its value.

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I definitely hold the hope that Hive is able to return and have more value because to me it is definitely extremely valuable..

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Do not miss the last post from @hivebuzz:

Feedback from the October 1st Hive Power Up Day

The reasons for hive to move upwards is the same as for any business. It needs a reason to be bought. As it is we have a token economy that has a high sell pressure and a low buy pressure.

What we need to do is get that turned around and have a solid long term business plan to keep expanding that vision. That is why i put in a proposal to start earning ad revenue on hive.blog and create more marketing initiatives.


If we can expand the userbase, increase ad revenue and increase the token price. More eyes will look at the token. More people will develop on hive and more people will invest in it's future. At the moment we are in a negative cycle and the only way to break that is to create more buying pressure on hive.

In the long run this will be from apps and businesses needing resource credits and utilizing hive as currency. In the short term we need to buy the token ourselves to put it into a positive cycle.

Blog and Earn motto will not help Hive, it will just pull it down.

Stop collecting people from short-form culture and expecting them to write quality contents. HP/HBD from curation will not increase HIVE value. Small power ups will not affect HIVE. It's been like this for months, so HIVE will stay at cents level if the culture isn't changed.

Instead, invest in better Hive APIs to entice more developers to build on HIVE. Investors will invest in DApps first, so 3rd party devs will pursue Hive. Better DApps (not only blogging) will get paying users to avail DApps services.

We have blogging and games, but as stated in other comments, a marketplace is great. An eCommerce API (with a periodic/transaction fee) would be great for that. Fees are burned.

International Money (fiat) transfer is great too, but using Hive as the middleman that gets a percent transaction fee. A seamless C/DEX/Bank Card integration/support is great for that. Fees are burned.

More NFT/Art/Collectibles could entice users to spend to get rare items.

Hive Finance could work, over-collateralization (paid HIVE) to borrow HIVE. Semi-liquid HP, Hive Power can be leveraged by automating it to trade and farm crypto hands-free, then rewarding holders with ±n% APY. Enrollment and agreement required.

Hive-wrapped Bitcoin/ETH, hBTC and hETH can move faster in Hive blockchain which can attract investors to put their BTC/ETH into Hive. Don't know how that will be implemented.