Yeah, okay, I guess that is true, it's just hard to believe it is possible right now. Especially given the fact that so many people were promising RC Delegations were going to be big money makers. So far that just hasn't been the case. In your scenario where Hive is a top tier token again, I can definitely see it.
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Right but what if Hive isn't top tier at all?
What if the market cap of crypto is $10 quadrillion dollars and Hive has a cap of $1T?
That's why we have to frame things in terms of absolute scope of USD and relative scope of crypto.
It was also hard to believe that Bitcoin could be $60k at $7, which is where Hive is now in terms of market cap.
Can Hive handle an x10000 gain? lol
Okay, I probably should have worded that differently. I was just going on the assumption that the token price was up around $2000 per token and we had masses of people trying to get on the chain. I understand what you are saying. HIVE may indeed never get that traction and be top tier. In relation to the USD, even a bottom tier token could be pretty decent if the whole space blows up.
Yeah that's perfectly fair because it was the exact example I gave in the OP.
So Hive costs $2000 per token.
How much does it cost to use Hive in this scenario?
The answer is that we have no idea what the demand to use the chain is.
We only know the demand to hold the token sits at $2000 vs the supply.
We can assume the demand to use the chain is quite high but we really have no idea.
We also have no idea how much bandwidth we can supply at that level or what the bottlenecks are. These are all things that nobody talks about or even anticipates, and I find that alarming.
Yes, your assumption that the price is $2000. That $2000 number was based on BTC and HIVE maintaining the same ratio(?) to each other. If that were the case, wouldn't the bandwidth and demand be virtually the same?
Hm the assumption is that one day in the future Hive has the same demand and market cap as Bitcoin has today.
So no there is no ratio involved between the two.
Bitcoin could be any value at that time, or not even exist.
Okay, but realistically if Hive were to reach that point Bitcoin would probably be even higher. Then again, it could go to zero, but logically it would continue to be higher than Hive. At least in my mind.