The value is based on valuation by people, which is basically decided by asks and bids on exchanges. So yes, buying and selling is a big part. Of course part of that is perceived value, part of that is amount of actual use and part of that is usually temporary market manipulations. New users can definitely help the value of HIVE grow, although not in the same amounts as e.g. BTC because of the differences in token generation (HIVE is basically constantly produced).
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Thank you @lapingvino! I still have a lot to learn, not just for Hive. Because of Hive blockchain I've started buying ETH, BTC, and XRP, which I still don't know how it works—or why people has "confidence/trust" owning a part of it.
Hey there,
it's dangerous to invest in something you are unfamiliar with.
Don't invest in something just because thousands others had done so.
https://www.preethikasireddy.com/post/what-do-we-mean-by-blockchains-are-trustless
Hopefully that was useful. Glad to see new adopters.
Wish you success.
Thanks for the advice! Will try to ask around and research too, I'm getting interested with this new techs. But yea, I didn't even have experience in stocks which sounds like the same, so I'll be careful 👍🏼👍🏼👍🏼