The "Other" Flippening: Hive
I'm sure most of you reading this have heard about the "Flippening". It's basically the theory that Ethereum will eventually surpass Bitcoin in market cap. The argument is that Bitcoin is a one-trick pony, with limited scalability, thus it will never be able to be used for day-to-day transactions. Ethereum, on the other hand, is the engine on which most of the rest of the crypto world runs and will be needed in ever-increasing amounts to do that.
Personally, I've never bought into that theory. Bitcoin is the king of crypto and will remain just that: the King. As a store-of-value, there is nothing else out there that can compare. Who knows, someday down the road there may be a challenger, but I don't think it's even been created yet. Again, in my opinion, Ethereum will have enough to worry about fending off challenges from ever evolving competitors to ever attain the levels Bitcoin will reach. There can be many "Ethereums" in the marketplace. There's only ONE Bitcoin.
But that's not what I'm here to talk about. As some of you may have noticed, there's another "Flippening" beginning to take place. One most of us here will be very excited about. #Hive is in the process of tracking down Steem. Not only in price, but in market cap. Over the last couple months, the gap has been narrowing and recently it has become even closer.
With the attention the tribes have been bringing to the Hive ecosystem (namely #LeoFinance and #CubFinance) the excitement is starting to spill over into some of the other tokens, with Hive being one of the biggest beneficiaries. It only makes sense since Hive is where it's all built. With more new projects coming that are destined to bring even greater awareness to what Hive can offer, I expect there to continue to be an influx of new users with an appreciation of the fact that Hive is still trading under 50 cents with a market cap under $160M. In other words, compared to the rest of the market, still very early in the game.
Couple that with some of the projects the Hive devs are working on right now to improve the infrastructure of the Hive network as a whole, and I think its only a matter of time until we put Steem in our rearview mirror, probably forever. Personally, I think it will happen sooner rather than later but that's just me.
It's a great time to be getting in right now. The price is still cheap but the difference between Hive at 40 cents today versus Hive at 30 cents last year is night and day. I've said it before, the Hive ecosystem will be A (and possibly THE) one stop shop for everything you want to do in the crypto world.
It's still very early. Keep loading up the bags. It's coming.
Thanks for reading. As always I'm not a financial advisor. Cryptocurrencies can and do go up and down and you could lose all your money. Do your own research.
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It isnt even going to be close. Hive will outpace Steem by a wide margin.
Token price means little in this contest right now. It is the development and Steem has none of that. What Hive is going to offer will be light years ahead of Steem.
The Leofinance projects are terrific but there is a lot more on the way. This is not a one trick (app) blockchain either. We are in for some exciting times.
I wont be surprised to see Hive worth 10x Steem in a year's time.
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@taskmaster4450le yeah definitely,i also believe the same too,the HIVE ecosystem is more organized,better planned,have better ongoing projects around it and so many wonderful platforms surrounds it...HIVE will keep growing...
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Perhaps x10 is too much, but I expect x2 to the STEEM price.
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I was going to vote you 100% but cut it to 20%. Just kidding. lol
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If I knew, I wrote that HIVE will overtake STEEM by х100 times :)
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lol I'm tricky like that. :-)
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I agree. The train is just getting started as far as development goes. Lots of stuff coming in the near term with Leo/Cub and even more down the road for lots of different projects on Hive. I'd love to see 10x above Steem. Hard to quantify that though. I'd be satisfied with a 10x on Hive from here and then wherever Steem ends up, so be it.
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Why?
Anyway, I do agree with you on the hive ca steem situation. There isn't much happening on steem. It is evident for all to see. Give is on the verge of mooning and mooning it shall (I believe).
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Because that's what people believe. It's a "known" entity. It has spent the last 12 years being attacked from many different directions and has not only survived, but prospered. When it comes to crypto, it has earned the "trust" of some of the world's biggest (and richest) people, companies, and entities. Whether there's better tech out there yet or not, the simple fact is it has by far the biggest and most far-reaching network of pretty much anything in existence, barring the US dollar. Most of the world doesn't understand crypto. They're starting to understand Bitcoin. It's a very simple proposition to explain "store-of-value" against "loss of purchasing power". Much more difficult sell on Ethereum. Like I said, it's just my opinion. I'm not a complete maximalist. I do see the value of other cryptos. I just don't see anything knocking Bitcoin off its perch for a long, long time.
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Well fair enough. However, I don't think bitcoin will maintain the number position forever (next even in the next decade). I see it more as a window into the crypto space. Something better will topple bitcoin. Well, I might be wrong as well but these are just my thoughts.
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@dagger212 you are absolutely right,the success of platforms like the leofinance will really also assist in the growth of the HIVE,infact i believe that the HIVE token will soon reach $2 in price before the mid of this year....
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I agree. The attention (and money) the tribes bring in and create in the ecosystem means that some of that will naturally flow into other tokens on Hive as well as Hive itself. It's a great time to be filling bags.
$2 seems very doable with all the projects coming down the pike. I'm hoping just the latest releases from Leo can help it achieve that along with projectblank. Time will tell.
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I've been watching Hive and WAX jump around back and forth over each other for quite a while now. It seems that WAX has finally put some distance between itself and the others in terms of market cap, but there was a while they were neck and neck. At least on my feed. I am sure some of the "in-between" tokens are not included in that list.
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I've not ever looked into WAX. I just see the possible network effect being put into place on Hive and I can't imagine that it won't do very, very well over the months and years ahead. It's got its issues, for sure, but the more successes it has, the more devs will come in and want to improve it. It's just better for everyone. It's going to be interesting to look back in 3 or 4 years and see what it looks like then compared to now.
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It has already changed so much from when I joined three years ago. WAX is awesome. Another DPoS blockchain. You should check it out. Their Cloud Wallet has some of the easiest onboarding I have ever seen.
Yes, yes, yes ... That is why I decided to concentrate all my efforts on HIVE (LEO)
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I think that is a good plan. To me, Hive seems like one of the few places in crypto where good news can come from many different avenues. There's Hive itself, of course, but there are also over a hundred other tokens created on Hive that can impact the price. And we're basically here at the very beginning. Exciting times.
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Exactly!
Also, in my opinion, the most financially literate crypto community has gathered in HIVE, which is a great merit of #LEO, which helps with knowledge and steem, where only those who think only about earnings remain.
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I think ETH won't pass BTC. There is a constant inflation for ETH and the entire gas fees/miners issue is going to boggle it down.
As for HIVE overpacing STEEM, I think it will happen given all the nice projects and development in going on. I wonder if HIVE overtakes STEEM, will it finally put HIVE over STEEM in the search engine results.
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That's a good question. I know there's at least one guy here (can't think of his name off the top of my head) who is doing what he can to address that very thing. He's already got a couple phrases popping up first on google and he's trying to expand that to a few others. I'm sure it will take some time but as Hive gets more attention, I would think the search engines would start gravitating towards displaying those results higher on the page. That's a guess though. I'm not an expert by any means on how they work.
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Yea I was just talking about this a little bit in the leo market talk thread (previous day). I think it was mentioned that time is an important factor so since we forked off STEEM, it will take quite a bit to cover the difference. However I think the price will probably move people who are chasing money either way so it should help the algorithm
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