Hive Hispanic Index
I like to check in now and then on a metric I call the "Hive Hispanic Index". This is the percentage of all posts on Hive that are tagged 'spanish'. This has been rising over the long term on Hive, and just recently it has hit an all time high.
Above is the monthly chart, we can also see it on the daily chart.
The long term trend has been that the network has been becoming more and more Hispanic. I have explored in the past how this has been driven - it is not so much that we have had surges of interest from the Hispanic world, but moreso that Hispanic users on Hive particularly from Venezuela and Cuba have substantially better retention rates than much of the rest of the world.
Over the long run this higher retention of users means that the Hispanic community continues to become a larger part of the network userbase. This is mostly when the price of Hive is low, in fact when Hive is doing well in price overall users increase, meaning the Hive Hispanic Index typically drops during those times.
Right now, Hive is experiencing an all time low in posting activity. By comparison, Hispanic posts are holding fairly steady, despite a collapsing price.
Since the split from Steem, Spanish posting activity has had a 0.573 correlation with the Hive price. That is a moderate correlation, where posts overall are correlated 0.755, a strong correlation.
Analysis
Hive has experienced a chronic inability to grow in user activity over the years, particularly when it comes to posting activity. The social media aspect of Hive however has always been, even back in the days of Steem, primarily to bootstrap an economic network. Although I am personally disappointed with Hive's lack of global traction, in truth no crypto, not even Bitcoin, has really gotten anywhere as a medium of exchange outside of illicit goods and scams. The use of 'spanish' tag is ultimately a reflection of usage primarily in Venezuela and Cuba, and Hive having a narrower geographic focus may actually be useful in developing an economic network, as the vast majority of economic transactions are local.
This is why I continue to follow projects like @hive-sucre and @spendhbd. Despite the low price and activity on Hive, the metrics on spending HBD have never been better.
I have no issue with Hive being multilingual. We have tools in peakd to translate posts, so language is not a barrier. It's clear that people in some of these countries have something to gain from using it even when the price is low. More users is a good thing, but some people worry about the value of posts. Hive is still tiny, so I welcome any growth. We need content and dapps that keep people engaged regardless of the price, but that's obviously an issue. We still have a lot of work to do.
What I understand from the graph is that the percentages would be similar to bitcoin's dominance. Of all the posts on Hive, the #spanish tag occupies 18%.
The ATH of the #spanish tag was 750 posts per day in 2021 and we are now over a year in, stable at 500 posts per day.
That means we have a total of approximately 2700 posts per day on Hive?
All correct, yes. Current Spanish posts about 470 per day, posts overall about 2500 per day.
thanks
Yes, Latin American users over the last few years have been growing in #Hive mainly because our economies have become a disaster and through Cryptocurrencies (especially #Hive #HBD) we find a way to find extra money that comes from wonder and at the same time we tell personal stories from our daily lives
Interesting analysis. Obviously Hive fills an important need in Venezuela and Cuba and the rewards are more valuable.
I believe it's both retention and consistency. Venezuelans and Cubans (LATAM, in general) are more consistent in creating content on Hive during a period with lower HIVE prices than the English speaking world. That means, in my interpretation, that Hive is a more important part of their lives, in many cases, than in many other parts of the world.
Well I am glad someone else calls this out, haha. That was a big turn off when trying to get people to use the BlockTunes music front end is because, being in the US and having connects in Europe, they thought it was a Spanish only network. I am finding that after the plannedemic, many people have chilled out on social media, they just got too much of it being locked in their houses. I have had to shift back to an offline business model to make any money.
Congratulations @demotruk! You received a personal badge!
You can view your badges on your board and compare yourself to others in the Ranking
Check out our last posts:
I an definitely happy to see this. People are more likely to use and be a part of things their peers are a part of. I have seen that BLURT is having success in Pakistan and neighboring region. Focused marketing campaigns are the most suited for HIVE since we are mostly about social media + games.