Last week I had a conversation with some friends who lean towards the communist side of things. I was trying to explain them cryptocurrency from the anti-establishment mindset and we were talking about the economic upside of a crypto based society.
Communism is a pro big-government movement so you can imagine how complicated of a conversation that was, mainly because both thesis - crypto and communism - counter each other: a big side of the crypto world advocates for a self ruling society with little to no government whereas communism (or socialism or any other version) argues that a society where the governing entity holds as much power as possible is beneficial towards everyone as long as said entity stay away from corruption.
But then, when we moved from how society would work, to where the money comes from and how one the pillars of Bitcoin is to redistribute wealth and to flip the status quo by taking economic power and influence from the elites to give it back to the people, one of my friends asked a simple question (understandable question coming from a left leaning person):
So Crypto is like capitalism in the sense that in order to make money you have to have money to invest in any coin and you only get richer when someone gets poorer. It's not like the money is just created from thin air, for you to profit someone else has to lose.
I wasn't going to discuss the fundamentals of capitalism and how this mindset is not correct, but instead decided to take his statement as somewhat true and leave it there. We were having beers and I wasn't trying to sell them into crypto or to redpill them, so I left it there.
But this week I've been doing some thinking - I know, so brave and unique, thinking in a crypto world of degens and FOMOers - about crypto gains and how that statement.
I tried to shake that idea from my mind and then started doing my nightly token and coin research and ran into some Rubic news about getting listed on Kraken.
We all know that any big listing news pumps a coin and if the coin is legit and it is marketed correctly, the volume added will hold the pump into a new support price that will be hard for the coin to drop lower - this is an extremely over-simplification and it is definitely not a rule - so, I went deeper into Rubic.
I honestly thought there weren't legit non DeFi coins (not meme ones like Shib) that could 100x in a matter of one and a half years in these modern times but Rubic proved me wrong. Finding out about coins like Rubic puts a smile on my face even if I wasn't involved in the gains and I didn't make a penny out of it. It puts a smile on my face because it confirms my statement that we are still in the early adoption phase and there is still a lot of profit to be made provided we make the right decisions and do as much research as we can.
100x within the Hive Ecosystem
Back in 2018 I used to be bullish as fuck on Hive thinking that it would hit 100x by 2023. I stacked as much as I could but personal issues decimated my stack and now I own a fifth of my almost 100k Hive stack. It's still a considerable amount but it is not nearly as much as I would want to have.
But I am no longer thinking that Hive will go 100x. Don't worry, this is not FUD, in fact I do believe that Hive is highly underrated (and it still was when we hit the $2.50 mark a few months ago) and it will reach a fair and deserving price in the near future, but the 100x legend is out of reach. One could argue that Hive was at one point 10c and if it pumps to $10 that's a 100xing, but I don't think we'll see that, not because Hive doesn't have the potential, but because there is so much being built around Hive that I believe that the second layer tokens built on top of Hive are the ones that will see the 100x gains and Hive will remain some sort of safe, steadily (but very slowly) rising token.
We now have native tokens on a lot of communities and I know for a fact that many Hivers are bullish as hell on 3speak, Splinterlands, Leo Finance and their native tokens, so much that they are buying tons of these tokens as you read this, investing according to their beliefs that these tokens are the ones that have more potential of 100Xing in the near future.
But all these dapps and communities are only enabled by the Hive Blockchain and the Hive token, and nothing of this ecosystem would thrive if the fundamentals and base layer weren't correct, which is also why I believe Hive will keep rising steadily in price and hopefully, one day, the cryptoverse will realize how undervalued Hive is and then, we will all moon together.
Posted Using LeoFinance Beta
Hive is quite likely going to be between $5-$10 in 4 months ;)
https://peakd.com/hive-167922/@tobetada/crypto-analysis-or-hive-big-breakout-possible-now
@tipu curate
Upvoted 👌 (Mana: 13/43) Liquid rewards.
I am always looking forward to eating my own words, and hopefully that happens. Hive is so underrated and neglected by the cryptospace that it's just hilarious it is still struggling with surpassing the $1 mark for so long. Thanks for the tipu vote!
Hive has a thriving ecosystem of over 126 apps, communities & projects and is home to some of the most-used Web3 apps in the world, such as Splinterlands, PeakD and HiveBlog . These features and more upgrades that will be experienced by this ecosystem gives me much hope as regards hive’s Increase in price and value as well sincethe hive platform is currently undervalued in the cryptoverse .
Also good to remember that a x100 is usually followed by a 80% or more retrace, few actually take profits at the top, holding on while prices return to normal.
Good to stay realistic, blockheads are creating more cryptos, nfts and tokens than all the fiat the US printed last year.
Crypto anti inflationary? hmmmm? lets see.
I'm bullish on Hive, but it will be in the next bull run, along with everything else, my guess.
The only reason hive has trouble going up in price is because there are dozens and dozens of people selling down the price by selling their daily/weekly/monthly rewards as a form of income. This constant negative externality stifles growth in price. BUT hive is a very low liquid coin, so when people do buy large amounts the price spikes up, usually followed by a sharp decline.
Theres a lot of appeal in cutting L1 rewards and to keep hive inflation only for witnesses and the HDF and let authors monetize their content through L2 frontends and mine those tokens such as Leo and 3speak, that would drastically reduce hive selling pressure. Personally I don't like that idea because that should've been implemented since hives inception, but its not a TERRIBLE idea, just not something I'd support.
I get your point, hive is like a short term, grocery money cow for many (even myself at one point in my early, early hive days) instead of a long term, diamond hands, no sell pressure kind of mindset. Im not saying either is the correct one, but if the latter was the common mindset maybe things wouldn't be as you describe them. If the main selling point in third world countries for joining hive wouldn't be "come and make money by posting your puppy pics" then we'd be at 1,000 per hive, but such is life.
Yeah because if you consider Hive’s all time high the same as steem’s then you are looking at july 2016 or sometime end 2017/beginning 2018 then we are rekt when it comes to price. we occasionally have massive pumps that barely last a few days as people try to cash out profits. But I am loooooong over thinking hive will be a moon coin for me. For now its just a place to share my gold and silver hobby with fellow stackers and just slowly grow my account. Maybe if we get to like $5-$10 one day I might sell like 500 coins but meh. It’s like built into me to come back here everyday to make my post, read a couple of posts, throw my upvotes out there… crazy to think this experiment is almost 6 years old
What is your price target now for 2023 Hive?
Me personally I am not sure which or if a token will be a hundred bagger in the future but as you I am sure the underlying Hive Coin will profit then anyways. The Top 100 if not the Top50 regarding market cap is the minimum where Hive belongs. 💪🏻
I don't have any price prediction man, I used to be a hopeless romantic and based the $100 Hive price based solely on what I saw in the ecosystem and the potential, not market analysis. I'd say that for 2023 and if the crypto space keeps neglecting Hive, $2 - $2.50 by the end of 2023, but I definitely hope I'm wrong as fuck and it is 10x that price.
🙌🏻 Yes I would also say 2-3$ until 2023 is „realistic“ target but wouldn’t mind if it is 5$ or even 10$. A 100$ Hive is in my opinion a nice utopia but not even near realistic if we we are talking 2030. A LOT has to happen for that, meaning worldwide mass adoption of our ecosystem and Hive beeing for Web3 what Facebook or Tencent are for Web2 at the moment.
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