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RE: What Would You Do If You Didn't Need To Work?

in LeoFinance6 months ago

This is an issue of distribution. Automation can't really take off because it completely obliterates proper distribution of resources. We need crypto to allow citizens to own small fractions of the product in order to move forward. There's going to be a lot of people out there looking for communities that can provide this kind of distribution and security. Hive is in a great spot.

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At this point in time, Hive derives its value from speculators using the HIVE token as a way to accumulate more BTC. I wonder how long that game can continue.

But sure, if we had 100 million active users who were rendered obsolete by the economy, each of them might not be able to create a lot of value. But the network would still be quite valuable.

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At this point in time, Hive derives its value from speculators using the HIVE token as a way to accumulate more BTC.

Do you have any stats to back this up?

If that were the case, the value of Hive might pump, but it would dump as soon as they selling occurred.

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Do you have any stats to back this up?

It is the general altcoin dynamic. There exists little in the way of external cash flow other than money from new investors to be derived from holding Hive Power. Altcoins are much more volatile than Bitcoin, which makes them perfect tools for swing traders to grow their stacks. Bitcoin has a strong macro narrative driving interest in it among investors. Fiat currencies are being printed left, right and center which is keeping the bond market from collapsing, which in turn causes investors to maintain interest in risk-on assets such as Bitcoin, which is the ultimate speculative vehicle at the moment. The altcoin space derives a direct benefit from this.

If 14,000 users can make up a network worth $256 million, it means that there is over $18,000 of value per user in this network. Web 2.0 social networks hold orders of magnitude less value per user.

If that were the case, the value of Hive might pump, but it would dump as soon as they selling occurred.

That's exactly what I predict will happen when the bull market comes to and end. That's what happened at the end of the last bull market.

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Not really true as the value is in the stake and what you can earn from staking. Some do sell but the majority of the community that has been working for the last 3 years in a bear market is thinking long term.

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Automation can't really take off because it completely obliterates proper distribution of resources.

This is not necessarily true. It depends upon who owns the automation.

For example, a basic automated trading app in the hands of an individual could rival what Goldman or JPM do. The numbers will be different but if that app was used by a couple million people, it would offset the raw number difference.

You are right crypto changes a lot of this. That is why something like SingularityNet is so important. It seeks to decentralize AI instead of putting more of that in the hands of mega corporations.

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