I had been wondering if I should be buying more Hive at this current low price.
Obviously I had been thinking a lot about it.
The other day I woke up with a fear that all the accrued monetary value in crypto are nullified. Hive included.
Is that possible?
Possible, if governments have their way and if they want to curb decentralised social media.
In the extreme case they can find a way to make it illegal for citizens to hold crypto. Maybe citing some association between crypto with illegal activities. Under the pretext that citizens need to be protected, they can pass such a law. I think in some countries they could already be doing so to certain crypto. Or they can make using banned crypto exchange illegal.
If that happens, then perhaps crypto has no value.
Hold on! This is the fear tactic those in power can employ to prevent people from exchanging value and gaining value from decentralised operations.
Let’s dive deeper into what gives crypto its value.
It’s use case!
Whatever use case it may be, if tokens are used and users value it, there will be buyers. This ensures the accrued monetary value to be present. Even if it’s ‘illegal’ to transact in certain countries, it is still possible to make such transactions in certain parts of the world. So how can this value ever be lost?
Our crypto tokens is not different from our other possessions, such as equity, cars, houses, hand phones, antiques, stamps, etc. If they are viewed to be precious and valuable, there will be buyers.
The difficult part is to find crypto that is of value. Of importance, it is its network of users that matters. Users provide the value. Users create the use cases.
This little thought experiment points me to consider Hive’s value proposition. It’s decentralised quality probably means that no one can shut it down. It’s rich use cases and ecosystem also means that someone will always buy my Hive if I need to sell them.
Thus, my conclusion is that I should accumulate more Hive at lower prices. My fear is unwarranted.
What do you think?
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