If you are a user of one of those marketcap websites you must notice the sea of red the past 48 hours
Was this a massive sell the news event or the start of something more painful
In my opinion, which of course is a non financial one, I think this is not a big deal in the grand scheme of things… business as usual seems to be the right mindset to take in this scenario
People who have been in crypto know what these days are like… they are eventually balanced out with massive green candle days
Obviously if you were able to get in on these red days and out on the massive green days you have done very well with your magical time travel skills because there is no one out there that can constantly buy the bottom and sell the top.
Even our precious Hive HBD and LEO is not immune to such dips
We must keep in mind our liquidity pairs
I am not sure what the liquidity ratios are for all the different platforms and coins in our ecosystem but those that are paired with BTC, ETH….etc etc if those coins go down then they bring us down.
This is why, timing is very important. If we are able to bridge our coins and pair them with assets at their bottom then we will ride their wave when their prices start to sore.
If anything, it can negate the value lost through the sell pressure of our inflation however when we start to kick off AND the coins we are paired with start going up then it severely amplifies our gains.
Here is one thing I believe that will happen. So far, anytime hive price shoots up, it goes right back down pretty quickly. So any “change” in activity goes away as the price dips back down.
If hive were to go up and up 7 days a week for months, I promise you we will have less sell pressure as greed starts to play its role, we will have a sliver of fomo pushing everyone on the fence over to our side, which then increases the potential amount of people who might share with their friends. Imagine if everyone was open and worked together what a group of friends can do if they pooled their efforts together and were able to create opportunities to create meaningful cash flow it would be best for everyone on the chain.
I want to dive deeper in a thought I had but here is a longer version of a tldr:
Hive(steem’s) price was its highest when there was a bot vote market.
I 100% understand and agree that buying votes is not a cool thing to normalize.
For those that don’t know, there was a time where you can send HBD to someone who will then vote on the post you paid for them to vote on.
Say you send 10 HBD they will give you a 15-20 STU vote. What that means is their vote would be what it is and you are using the temporary exposure to put your content out there and pray the price goes up so when your post pays out in 7 days the payout is worth more than your 10 hbd “investment”
Here you are betting you are paying large enough to get you the exposure to hopefully get to the eyeballs of some people with nice amounts of hive power and get their votes to offset some of the bot costs.
Now, I do not exactly remember how this system was abused or if that narrative alone was enough but there was a huge downvoting and witness voting campaign to make sure bot voting ended.
The price never recovered.
Think about it
It was the most active “business” or”use case” that you ONLY can pay with the native token.
It’s not like they took btc, eth, cash or credit, they only accept the native token
What does this mean? It means people had something they can spend their hive and hbd on.
If you ask me, vote buying is the fuel that hive needs.
But not the old vote buying. A properly integrated on.
One that you cannot profit from, by design.
A certain % needs to be put to other uses.
For example.
Someone has been posting for a while, building up to a nice long post they have been working on. They save their little rewards and finally one day they have saved 10 hbd. They then send this HBD in exchange for a corresponding vote which will give them 4 hbd and 4 hbd worth of hive power in 7 days assuming prices don’t go crazy. The post gets the attention of some big players in this place who click on his profile and decide they have a new person they want to follow and see what they are up to.
The economics above are just random quick notes but if the right system is set up we can extract funds here or there that can be used to create buy pressure, coin burning or so much more.
Imagine we were able to burn more hive than there are hive that is created…
This is and will always be the game changer for hive. A built in system that people leverage that helps the eco system.
Everything else can come after.
We have been focusing YEARRRRS preaching “just get the message out bro it isn’t about the money bro come on lets send $5 to a poor person bro the users will come bro focus on the new users bro” ouff I have heard it all
Pushing the price up, removing coins from circulation with a built in “send to dead address” mechanism, a built in “buy hive off the market” system that will be a giant force to fight inflation and sell pressure.
I really don’t get the idea behind hating this… how is having more buy pressure and less inflation with a goal of deflation a bad thing?
There are ways to make a vote buying market work. When its a wild Wild West all the things I preach about will come true BUT at the cost of turning the chain into a cease-pool which is why if we get the brightest and most influential minds to come up with a way to make this work I am sure we can get most of the witness’ interested
Or who knows, maybe you all hate this idea. Its not like I have a big bag I want you all to pump its just brainstorming
Leo has the right idea, soon they will get 10 of my HBD for 30 days or premium and they will buy and LP with my funds which is awesome usually when you pay for something you don’t know where your money goes.
