Hive: It Can Happen To You

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4 min read

For some reason, most people think it can only happen to other people.

Whatever it is within the majority, few believe that massive success is in the cards. While there are examples everywhere, the large percentage simply do not believe that is possible for them. Instead, they look at the others as lucky or gifted.

When we look at cryptocurrency, there are clear examples of average people who made enormous sums of money.

Let us take some of the early bitcoin adopters. Known for their HODLing, the ones who were "lucky" enough to get involved in 2013, 2014, or 2015 are sitting on a pile of money. If they held since that time, even a few dozen BTC is worth a fortune.

The same is true for those who got involved with ethereum in the early days. This followed a similar pattern. A couple thousand dollars in ETH at that time is now a pile of money.

Of course, so goes the thinking, this could never happen with anything on Hive. After all, look at the list of problems people post about. Do we not have selfish whales and downvote wars that destroy it for everyone?

So the thinking goes.

Naysayers Never Win

It is easy to be a critic. Anyone can look at something and notice what is wrong. That is obvious with technology.

Remembers Apple's problem with the IPhone and the antenna? How about the switching of the mapping software and the issues that caused? A lot of articles appeared why that was going to ruin the product and how Apple was making a mistake.

What about Elon Musk destroying Twitter. We were told the platform would stop working after he fired 75% of the staff. Did that happen? No.

Hive has its share of critics. Much is warranted because, like anything, this is far from perfect.

That said, it does have a lot of powerful things going for it. One of the challenges is that people want things right now. We live in a world of instant gratification. Here is the problem. Buying BTC or ETH in the early days might not have netted a huge return for a year or two. There were periods where things didn't move.

Of course, the critics were out in full force. What happened? In spite of the naysayers, both of these coins exploded.

With Ethereum, we not only see tremendous wealth generated through the base layer coin but also much of what was built on top saw similar results. There are many projects that people made bank from.

Naturally, they were just lucky.

Multiple Layers

Hive is operating on multiple layers. This is something that many often overlook.

While there is HIVE, we also have a number of projects on the second layer that can enhance the wallets of people. So far, not much has gained traction with the exception of Splinterlands. That is, however, the example that shows the potential. If it can be done once, we can repeat it.

The bear market certainly put a damper on the holdings of many. There was a time when we had a number of Splinterland-millionaires. These people had decks that were worth over $1M. That is a tidy sum regardless of where someone is.

Here is the lesson: It can happen on Hive.

Building is taking place on a consistent basis. There are project teams rolling out new features. All of this enhances not only that project, but Hive in general. Earlier there was a thread mentioning how PeakD added prompts to their front end. This is just another example of the forward progress of an application.


Hive is still building infrastructure.

We are seeing the development of a number of smart contract platforms. This is crucial to the future of Hive. Without this, Hive is an island of limited potential.

As these roll out, we will see development shift. Project teams will suddenly have more options as compared to before. Much of what is available on the EVMs will suddenly be offered to Hive developers. The important factor is this will incorporate HIVE and HBD.

This fact can drive a lot of value. Many articles were written describing how HBD can really drive value to HIVE. Having HBD staked as collateral on each node that is conducting financial transactions is enormous. This means activity with tokens, NFTs, and other digital assets, whether tied to commerce, finance, or social media, is going to require a staking of HBD at least equal to what is being transferred.

Here we see how the layers start to pile on top of each other.

Of course, the major breakthrough might be a layer 2 token. There could be an application or game that gains a few hundred thousand users. Like Splinterlands, this created a number of millionaires.

When comparing economies, most want to be the United States or China. However, when we look at a Monaco, it is one of the wealthiest nations on a per capita basis. The number of millionaires per 1,000 people is up there.

In my view, it is likely much bigger than just a niche ecosystem. The foundation that is being put in place is done so with the intention of scaling. We are not looking at some minor points. A lot of this technology is designed to offer what is missing in the marketplace, including with the EVMs.

To me, this only expands the potential of what is being built on top. As developers have more options, their innovation also grows. It only takes a decent holding into one of these projects and, if it takes off, suddenly there is life changing money.

This is the potential of Hive. We are not there yet.

However, keep in mind, it can happen to you.

Posted Using LeoFinance Alpha