Want Hive to the Moon? We Should Learn to HODL

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Yeah it does seem to be sort of disappointing seeing the price of Hive on coinmarketcap.com as it is pricing around $0.49 the moment I am writing this post.

But I would back up @theycallmedan and his suggestions regarding imposing fee on powering down and giving it to those who in here for a longer term or in other words Hive Power Hodlers.

Read his post here

I appreciate the way he wants us to HODL and also told us how to motivate people for HODLing their Hive Power.

According to @penguinpablo May 12 post, total amount of HIVE stored on all exchanges is 129,867,897 HIVE' which is not a small amount. It is round about 34% of the total supply of Hive.

Read the post here

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Credits

I myself don't support the decision of powering down. Because if we want the prices of Hive to flourish and attract more investors then we should be HODLing instead of powering down and moving it to exchanges. Why not hold your Hive Power here rather than having it on exchanges. I know it takes time to power down but the same time I would also suggest that we should have an option of instant power down with some percent of fee to be deducted.

Instant power downs are also sort of risky in case of account being compromised but we may also look into that matter too and how to avoid that risk.

So if you guys want Hive to the moon then you must learn to HODL.

Thanks



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16 comments
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Yeah it does seem to be sort of disappointing seeing the price of Hive on coinmarketcap.com as it is pricing around $0.49 the moment I am writing this post.

It is actually quite surprising, considering the low social activity and the high amount of power downs on the Hive blockchain. To be honest, this place looks abandoned from outside. Nowadays most of the comments are bot comments.

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Yes, that's right. Just stake and HODL. It all falls back on supply and demand. If we can't do much about the demand side for now, at least control the supply of tokens hitting the market a little.


Posted via proofofbrain.io

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Hive needs users for it to be worth more.

The reason the price is what it is and why there is 129 million Hive on exchanges is that people are speculating the price.

If you want the price to go higher you need to have people looking at the fundamentals of Hive.

What are Hive's fundamentals?

A decentralized social media based on free speech. The price of the token is 100% irrelevant as that is not the purpose of the chain. The purpose of the Hive chain is to have enough Staked Resources(HP) to be able to post and comment.

How much HP does someone actually need to use the network decently? About 250 to 500 HP at current prices/RC.

What does that get you? It gets you 2 or 3 posts per day + 30 to 40 comments or so.

50/50 rewards changed Hive to be more about speculation and got away from fundamentals, that is why the price is going to go lower and lower.

50/50 rewards means that people buy Hive because they just want to make profit from upvoting people, it encourages them to power up, upvote anything, and they don't have to contribute by making posts or comments or do anything actually productive. Just be rich and make money because they are rich. That's not fundamentals that's speculation.

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But I think high prices can also attract investors.

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High prices of BTC 60k aren't attracting more investors, it was at 43k as of this writing.

As prices get higher on something less and less investors are attracted to it due to being overvalued, at a certain point investors dump and take profits.

The price of Hive being high is speculation, right now the network only has 14k accounts transacting daily on it, Hive's price shouldn't really go too much higher than it currently is because the fundamental usage of the network is extremely low.

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Hmm

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(Edited)

The price could go higher or lower, it depends on how much people want to speculate right now.

So for two examples.

1 Speculation

If there was a few hundred people buying more Hive because they think the price will go up soon or long term, they buy 25 million HP over the next few weeks and power it up. We still don't have many accounts using the platform, thus the fundamentals of the platform didn't change very much. If a few of these people powerdown and sell at some point(which they will because they are speculators and want to take profits) then we will see the price go down again and NOT stay up. Speculators are interested in profit and they have to take profit at some point, which means selling, which means prices going down.

2 Fundamentals

Say that we have 100,000 people who each buy 250 Hive and power it up, this is because they want to use the network to make posts/comments and interact with people(what we are doing right now). 25 million Hive was bought and powered up in this circumstance, and it will keep the price high for years due to most of these people won't powerdown and sell because they are using the platform.

So in general if we want a high price of Hive for the long term we scenario number 2 to happen. If we want a high price in the short term we want scenario 1.

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Hive is a far way from To The Moon! and as others have said, it has to do with perceived value. Why $DOGE would be at the same price with 3,000 times more coins in circulation than Hive is beyond reason. But, $DOGE is out there and is noticed.

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