How will you have SO much buy pressure to not only negate all the full time sell pressure from the salaries(rewards) of the people who post here daily, but also push the price up to $50?
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How will you have SO much buy pressure to not only negate all the full time sell pressure from the salaries(rewards) of the people who post here daily, but also push the price up to $50?
Posted Using LeoFinance Beta
I think that as more and more people get into crypto in general, and hive specifically for the utility it has, there will be a few more people coming in who have a longer view of things. This will just be by nature of things.
Just using myself as an example, I'm late-middle aged. I don't need to cash out hive earnings immediately. So, I can hodl. And that's my plan. Hodl until value built buys me out of having to work, then keep building value with my brain.
Right now lots of people can't hodl, but as more enter who can, that sell pressure may change, over time. So, as hive grows, it's relationship to the global market will change.
Look at total inflation. Hives are under 8% and dropping every block until it reaches sub 1%. A lot of high market cap coins have higher inflation than 10% and still sustain it. The reason being is its mostly just all hype atm, and centralized token distribution makes it much easier to have large VCs name drop. Look at Avax as an example, they sold OTC at a discount to VCs, the VCs were seen publicly buying it and talking about it, then the price rose. That had nothing to do with inflation or even tokenomics. Hype cycles fade and useful technology will remain, and then you have a whole new hype cycle all over again. It's always a series of boom and busts, with the market learning what is valuable each round.
When we get down to 1% inflation things will be better for price, but I’m telling you, every other coin is up significantly in price VS hive, this isn’t fud or shit talking, it’s just a fact that is very easily and casually verifiable. Hive has not made a new all time high in price since launch.
Look, I even powered up all my liquid hive and liquid Leo, I’m not giving up on this chain.
I feel, there is a small chance that everyone will just keep building and keep building and keep building and eventually, people will start to care enough to get involved, then, maybe like a coiled spring, we can explode upwards with long term perpetual demand significantly outpacing the sell pressure.
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As was mentioned in another comments, the new users on Splinterlands need about 20 HP just to play the game. If there are near 10K people signing up, that is 200K Hive required per day. It will start to add up over time.
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Getting 10k new people a day is the same sounding pitch as “if only we can capture 1% of the market”. But requiring 20hp to participate is for almost all hive based apps it not? I guess we can just keep building and building to onboard more and more users.
But ultimately you know what will help? Hive actually getting to $50. Look at your earnings today and do the math applying $50 per hive. I am certain many people will be selling less units (less hive) since they won’t be needing as much fiat everyday vs now at today’s prices.
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