Time to web 3

in LeoFinancelast year

It's just a matter of time, isn't it?

This is how I feel in regards to Hive and the various applications and communities it enables - at some point, it will get the attention it deserves and "overnight" it will be flooded with interest, attracting all kinds of users and developers in looking to take part and learn what all this "Web 3" nonsense is about.


What is interesting is that I am hearing people at work talking about it now who aren't into crypto, but they are still tech nerds in way way or another. Pretty soon, it is going to be mainstream narrative, however what is going to take longer, is people actually understanding what is and isn't web 3, as for instance the other day, someone explained it as web sites that allow people to earn.

Patreon and YouTube do this already - they are not web 3.

Decentralization is core to this, but many don't yet understand what this means, nor why it is important. However, as people excitedly bound into the hustle side economy in the hope to earn, they don't really care about what allows them to do it, they just want that mula. It is amazing what people are willing to do for money and often, it doesn't take much for them to change their behavior. A tweak here and there and people are suddenly moving in a different direction.

I see this often in regards to salary bonuses tied to KPIs, which for me have never been a driving force, unless the KPI makes sense to accomplish. However, I have known many people who will drop what they are doing and pick up something different, even if it doesn't make sense, all in order to get an extra few percentage points on their salary a year - but achieve nothing significant. This doesn't make sense to me, but it demonstrates how incentive-driven people are, as they are willing to do almost anything, as long as they get paid for it.

Don't get me wrong, I like bonus money as much as anyone, but if it isn't tied to useful activity, it isn't worth, what it is worth. It is very much like the value of a token being connected to usecase, where if the usecase isn't valuable, the token shouldn't be valuable either. Often though, the people who design bonus systems don't know what should be incentivized, so they tie the activity to a lot of useless. People chase it, but the company doesn't get the ROI on the bonus, as the wrong thing gets done.

Incentive is powerful, but it doesn't mean that what gets achieved through them leads anywhere good - it just leads where it where the changed behavior takes it. However, if the "right things" are incentivized and rewarded correctly, it not only works as an incentive to do, but concurrently works as a disincentive to do alternately.

It is this that finds the equilibrium between supply and demand in the attention economy, where the "material" that gets attention will see the curve of reward increase until the supply increases to chase the incentive, lowering the reward, but distributing it more widely.

This is also why the decentralization aspect of Web 3 is so vital, because it means that it is far harder to influence the demand and supply across many nodes, meaning that there will be a tighter correlation between what is supplied, and the demand it receives. Currently on for example YouTube, the platform that benefits the most, is also the one that decides who should see what, when. This means that although it might feel like the user decides, it is actually the platform working on a tenet of maximizing profit, whatever the cost.

However, while many seem to think that in order to be successful Hive has to compete with Facebook and Google, this is not actually the case. If anything, Hive might be more successful financially catering for a subset of well staked users, instead of trying to attract the masses. Ultimately though, the masses will come because of the laws of supply and demand, because as interest and reward increase, more people will come in to fill the supply gap by catering to the needs of the audience.

While my opinion is that it is just a matter of time, this doesn't mean that it is a waiting game until we get there. At the point the masses do turn this way, there has to be enough reason to attract their interest and retain their attention for the longer term, all the while encouraging them to take ownership of their account, experience and ultimately - lives.

This is one of the things that I find interesting here for me, as while I spend a lot of time online, it has also fundamentally changed the way I experience and my own activities in the world at large. The reason is that while there is the financial reward incentive, there are also other reasons and perspectives that make me want to take what I know to participate here, and take what I learn from here and close the loop IRL also.

Hive isn't a side-hustle platform - as it becomes engrained into life and affects conversations, perspectives and opportunity daily. Facebook does this to many people too - but what does it offer in return? Nothing - users own none of it. It is just a matter of time that people wake up to this also and start demanding what the centralized platforms can't offer - ownership and the ability to use what is owned, as one pleases.

The world of information transfer is changing.
Each bit of data carries a cost and a reward.

Come get some.

[ Gen1: Hive ]


I think it is almost to late to be called an early adopter of Hive. I feel time is closing in for a growth spurt, it may not be a big spurt, but I think there will still be one toward end of spring start of summer.

I have nothing to back this, other than seeing a lot of new posters already, the leading edge of the wave? maybe.

I wonder how many new players on SL start interacting on Hive.

I actually know nothing about Hive, but SL led me to this amazing platform. And so accidentally, I stumbled with a nugget more precious than the leisure I derived from playing an online game.

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That is great to hear. It is a pretty amazing platform and once it starts to grow in user base, more applications build upon it too :)

There are too many apps, and they are all adding value to Hive. Currently, I am using 10 of them, and d.buzz is my most recent discovery.

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Just imagine if there were a couple more million people using them daily - it would be pretty busy!

In my short stay on Hive, I am not sure if my observation is correct that the community sentiment is divided as to mass adoption. There are those who want to make Hive popular, while others want to keep it a secret.

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As you illustrated, I personally feel Youtube is more derived from their personal financial projection in respect to the growth. In between these, the present world is intertwined in the rewards.
Web 3 completely changes the game of financial projection to reach that in between the users driving the engagement and value. Every authenticity of users is considered precious adding value of ownership. Users creating their own community defined under their own community standards and currency definitely sounds like a clear future.

The second layer communities are going to be a huge driver of value in the future - here and elsewhere. The ability to have the decentralized layer of the blockchain, support centralized or partially centralized platforms and businesses is huge.

I certainly do hope that you're right, but I also remember people saying the same thing about Steem. I feel like almost every other post back then was a post saying that if you had 5000 - 10000 Steem you would be set for life in the future.

THe amount depends on so many factors, but I still think someone with 10,000 HIVE will do okay - in time :) Most people see "the future" a year or two down the track - if you think that most people work 45 years until retirement, that should give a better resolution on what "early retirement" is. For example, if I can retire (I like working but let's say) at 55, I am doing okay - that is another 13 years away :)

Hive isn't a side-hustle platform

Exactly what I talked about some days back. Hive brings to us a better space to engage, community and connect. Hive brings to us a better social media platform. More so, it also brings to users various opportunities to earn. This is the part you don't get to see in many other platforms.

I stand with you that with time and development, Hive will welcome more interest from people.

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It is going to be pretty fantastic once all of these applications link up on the blockchain to provide a very wide range of potential experience. I think that it has so much potential to empower people's lives at all kinds of levels - especially socially and locally.

The empowerment has already started, I'd say.

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Wonder how much time given that for a lot of people with a lot of the old socnets there's a metric boatload of sunk cost fallacy going on.

Will they come out of the woodwork?

I think the big difference between Youtube and HIVE is that they work for Youtube to be better in fact; however, we work for HIVE as well as us to be better. Some day, Youtube could decide distributing less revenue from ads to its users and what can users do? Leave or accept.

The company itself comes first in whatever decision they take. On the other hand, whatever decision is taken on HIVE, the blockchain and us come first. I can call this being corporate.

Right, HIVE needs time or a threshold to attract much more attention in the world.

THey work for YouTube, not for it to be better though, other than to increase profits. The only reason YouTube evolves is for profit - not the user experience. It just happens that it is a side effect.

I mean indirectly, they increase Youtube's profit, too.

Hive is becoming a way of life of some many people here, you can’t see joy when they comment post. Hive is a perfect web 3.0 with a strong community backing it

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Just needs a bit more engagement :)

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We'll see, but sounds interesting at first! 👀

Web 3.0 , a ticking time bomb about to explode , this time for mankind’s financial liberation.

I appreciate your posting reblog your posting dear sir