No friends. This is not an article about price.
While markets keep doing market things, Hive keep plugging along. By this I mean that we keep building and expanding. There are a lot of moving pieces at this moment, many of which are still behind the scenes.
That said, we are seeing projects starting to progress to the point where it is all starting to come together. This is going to bode well for everyone involved.
Naturally, nothing stated here should be construed as financial advice but we are likely to see a massive explosion in value throughout the rest of the year. This should be reflected in the markets yet we know they have their own minds.
Nevertheless, when we look at what is taking place, it does appear we are setting ourselves up to reach a broader audience.
Social Media Epicenter
This might sound premature yet it really is starting to ring true.
We start with the premise of what is being offered on Hive. We have, of course, long-form blogging. There is no the emergence of microblogging with a couple different options available. Both of these, by the way, are scheduled to have major upgrades in the next few months.
Then we have the Instagram-like application, Liketu. 3Speak and Cast Garden are doing many things with video. Podping is turning more content into podcasts, something that is beginning to take on new meaning.
Finally, we recently discussed the idea of evergreen or legacy content potentially being rewarded through the efforts of a couple different project teams. This is going to be assisted by the application, Veews, which is helping to change content discovery.
Many of these are still in the early stages. The key is that each is operating independently, bringing upgrades out on a regular basis. Collectively, this really changes things over time.
In short, we have a nice menu of options on Hive. These are only going to improve and expand.
Bitcoin's Transfer Layer
This is something that gets overlooked. It is a target of the SpkNetwork team. What is the transfer of Bitcoin was taking place on a layer tied to Hive? How would this change things?
It is evident that the Bitcoin network, as a medium of exchange, is not going to work. This is the reason for building out the Lightning Network. One challenge there is the fact the nodes are not incentivized. This creates a problem as the network expands. If it become wildly popular, and nodes have millions of transactions going through them a day, who is going to provide that infrastructure. To start, one needs to have a lot of liquidity available. Secondly, there has to be the willingness to pay for servers to handle that.
Who is going to do that? Those with incentive from other areas. This is where the belief is of a centralized network resulting. The most popular nodes will have to be run by major entities with financial might behind them.
What is the team behind 3Speak started to offer a node system whereby Bitcoin's value could be transferred outside of Lightning? What if this is tied to a base layer that is truly decentralized and requires no batching?
It is something that is on the road map.
Stablecoin
We have not even begun to see the impact that Hive's stablecoin can make.
It is hard to believe that 18 months ago, the Hive Backed Dollar (HBD) was not even discussed. This was a coin that was off the radar. There were still people on Hive who believed that should simply be removed from the code.
Today, it is one of the more powerful features in terms of its potential. We already see usage taking place in areas like Sucre, Venezuela..
Fortunately, there are a few people floating around on Hive who understand how to build a currency. The idea of backing and reserves is not what does it. This is foolish thinking and the reason why most of the stablecoins out there will have limited success.
HBD is going to operate from another premise. By concentrating efforts on building HBD from the ground up, we can replicate what makes the USD so successful. This, of course, is also misunderstood as people mistakenly believe it is the fact oil is traded in dollars that provides the value.
It is not.
Nevertheless, we see concepts like this espoused throughout the world of cryptocurrency which is putting most projects in a position to cap their success. As stated, if we are to beat the bank system, we best truly understand it.
HBD has the potential to truly innovate our base layer system. Couple this with layer 2 additions and we could see a coin that increases radically in usage over the next few years.
How Far Away Is Hive?
This is something that is impossible to forecast. Much of this is dependent upon development. As we all know, this can be a variable proposition. It seems nothing ever seems to go as planned in that world.
That said, it is exciting to think of where things will be in 6 months. We are going through a period where the development seems steady. There is a consistency to the progress being made and what is showing up with the applications. Here is where the key resides.
We all want massive number of users. However, we saw this repeatedly throughout the industry. When you get the recognition without the ability to sustain, problems arise. Hive is building while under the radar. We learn from the mistakes of others and adopt that into our plans. This allows us to create resiliency.
If I had to guess, I will say that Hive will be in a much different position by the fall. As the leaves start to turn (in the Northern Hemisphere), the applications on Hive will be offering a lot more. By that time, much of what is contained in this article should be live, including a smart contract platform.
The bottom line is we have a number of people on Hive showing up each day and adding to the different projects. Over time, this has a remarkable difference.
Will this be reflected in the price of the coin come September or October? That is dependent upon a variety of factors, many of which are outside of our control. Nevertheless, keep in mind that $HIVE is really an access token tied to the ability to engage with the blockchain.
Do not overlook the power of people needing resource credits.
What are your thoughts? Do you think Hive will massively break out by the Fall?
We are truly bringing social media and finance together.
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It really feels like everything is starting to come together. It's almost scary how many different projects are starting to get to the point where they can start making an impact. Plus, because of some of the work reaching that point, more developments can be placed on top of them further expanding our reach. With these crucial pieces of infrastructure, the sky becomes the limit on the number of avenues that can be pursued by future developers.
Hive is slowly but surely maturing. As it becomes more and more robust, the ease of use and the different ways it can be used will infiltrate our lives in ways we can't even imagine right now. The benefits of simply hodling Hive could be life-changing down the road. Not because of the price (although that is part of it), but because of everything you'll have access to. As you say, social media of every genre, banking, games, news, you name it. It will all be here.
The future is bright.
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What is interesting is how the different project teams are now starting to utilize what was created by others. I see this with 3Speak, V4V and podping, and other video related content platforms.
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Exactly. We're getting to the point where the wheel doesn't have to be reinvented each time. It's going to massively shorten development time and allow devs to start putting tentacles into a lot of different things all at once. Slow, slow, slow, fast.
Hopefully we can have some fun in this next bull market and then really get some work done during the next bear, so by the time another bull comes around in 3-4 years, this place can go off like the biggest firework you've ever seen.
I don't know if it will explode massively but I certainly hope that Hive will have great developments in the autumn.
Today I did some transactions for a friend and the speed with which the Hives can be moved is truly spectacular, it really impressed me even though it was something I already knew.
Obviously there are all the other aspects that you have listed well which bode well for constant growth, whether it is fast or not, in my opinion the important thing is that it is continuous!
Fast and feeless. Something that cannot be stressed enough.
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This is the reason why I fell in love with HIVE and I'm still stacking and introducing HIVE to my relatives. Hope they can see the benefits of HIVE and start to engage with it.
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how is the smart contract platform going to differ from e.g. Hive engine?
Nobody can develop on Hive-Engine.
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right, that makes sense. Who will provide the infrastructure for the system? Do you think everybody who wants to develop there has to create their own servers, or could there be something more official? If it's the first, I feel that this would deter devs from using it
The team behind SPKNetwork are up to some great, I am optimistic we will be presented with great applicants when the infrastructure being built is complete.
There are a lot of development on Hive to be optimistic for, these should naturally give Hive the breakout it deserves.
I trust Hive will be in a much better state development-wise,
come fall if we don't experience the Hive breakout we are expecting.
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It should be exciting to see what they roll out. They might have a few wild cards up their sleeve.
This is all going to be exciting.
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Doing away with HBD would've removed one of Hive's best unique selling points. I'm particularly excited about the smart contract platform that will bring us a step closer to the Hive financial network. With social media becoming more diverse and easy to use, the access token is bound to become more valuable.
Agreed.
Now it is time to see how we can advance things.
The pieces are starting to falling into place.
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I think we are slowly moving closer to breaking out... what we need is a couple more wide awareness, cross platform properties like Splinterlands. The coolest — and most useful, from a Hive building perspective — thing about Splinterlands is that it transcended the closed loop we might call "blockchainiacs" and brought in people who were gamers, first.
Heck, our son (mid-30s) created a Hive account for the sake of Splinterlands... he doesn't give a hoot and a holler about tokens or crypto, he just liked the game.
That's what we need more of, to truly break out, in my opinion.
In many ways, it's still a lot "like the Internet." Right now were at that tipping point where people's perspective is moving from being "IN crypto" (parallel: being ON the Internet) to what you "DO with crypto" (Parallel: What you DO on the Internet).
We're getting closer, and I think Hive has a very bright future! I have no idea where we'll end up in 2023, but I DO believe that in 2028 we'll be thanking our lucky stars that we got involved early, in this gig!
=^..^=
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Hive is growing in multiple dimensions like microblogging, video streaming and sharing, gaming, and many community-driven projects. With such development, it will become unstoppable.
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We can add Splinterlands Card Game, Splinterlands Tower Defence, Splinterland Land Game, Genesis League Sports, Psyberx, Ragnarok, Rising Star and many other Hive games to the list.
I think that we get and will get new members as the price and the popularity of HIVE increases. However, there is a drawback to me. They might consider here as the other social medias, but delivering money. Thus, there could be something more done for the adaption of newbies.
I think it's possible but I think it will probably take more time than the Fall for things to play out. In the last crypto maniacs, Jon and Blaine mentioned how retention is an issue right now.
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