How does that balance out with your view of HIVE? Or LEO?
Do you only believe in Bitcoin and have that as your sole focus/basis or do you carry the same outlook for the others.
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Basically, the difference to me is I KNOW bitcoin is going to work. I am 100% convinced of what is to come and what kind of financial rewards are in store down the road. And a lot of the world either sees it already or is starting to as well. There's a reason it costs $50k to buy one BTC. I may be wrong but...I'm convinced I'm not.
With Hive and Leo, I see the potential but I still don't know. I believe very strongly in the platform and the concept, enough that I have invested a considerable amount of time (and money) learning how to navigate in uncomfortable waters with wLEO and liquidity pools and connecting wallets and transferring assets, etc. This place still has a fairly steep learning curve and not a lot of places to get answers until you actually connect with a "veteran" who will take the time to answer some direct questions. Most of which you feel stupid asking, by the way. So not only do you need some intelligence to figure things out, but you also need some courage to seek out people who can give you answers. amr008 was nice enough to help me. Bitcoin is easy. You can buy it in a hundred different places and you never have to think about it again.
I love what Leo is doing and it feels even better to be able to contribute but, as with Bitcoin, there's a reason it's priced where its priced. While I might see the future and it's potential, there's very few others in the world that do yet. As you've said repeatedly, we need an easy way to onboard new users. The tokens have to be diversified out into many more hands. Once that begins to happen, the whole picture becomes possible. But until that happens, it's still a closed ecosystem.
I keep going back to what someone said about "Mr Wonderful" buying bitcoin at $50k when he wouldn't touch it at $3k. People end up buying Bitcoin at the price they deserve to buy Bitcoin at. With Hive and Leo, I'm in with a chunk now and I'm adding to it. As the price goes higher and more things come online, I have no problem paying more for it as it's potential starts to bear fruit. And depending on how things develop, I may very well end up doing the same thing I am with Bitcoin; buying a little every week until it reaches a certain target and then just hodling. You also have to remember, I've been "back" on Hive for a grand total of three weeks. Still learning.... :-)
That's a very long-winded way of saying, yes, at this point, I only believe in Bitcoin. Ethereum I still have doubts about. And of the next generation, the only one I'm really starting to believe in as a very long-term hold is LINK. I have some small speculative stuff but other than that, Hive/Leo is my second biggest position behind BTC. I've been using the small stuff to add to my BTC but I've actually been siphoning a little off for here as well. I believe in the vision. Now we just have to implement it.
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I see the difference between Bitcoin and Hive/Leo in the risk. Bitcoin is certainly more of a guarantee at this point. It already went through its period of uncertainty and withstood the test. Hive and Leo might have more potential in terms of x multiple but they are no where near as certain.
That said, with each passing day, we see that lessening even if by a miniscule amount. Each day, more is added that helps the ecosystem.
People do not realize there are people who will not buy things when very cheap because they are not total risk takers or speculators. They are not willing to invest until an asset (class) proves itself. They are willing to wait on the sidelines while things run up, awaiting the "proof" that it is legitimate for the purposes proposed.
What are your concerns about Ethereum?
What are your thoughts on Cardano?
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Most definitely. The potential multipliers are way higher which is why you don't risk as much. 100-500x is not out of the question for Leo down the road. If the development teams hits a homerun with these first launches then, seriously, the sky is the limit.
Ethereum is standing still while all of this innovation is going on around them. There are faster, cheaper, better alternatives already. Their ecosystems aren't as robust obviously, but they're already there. And more continue to come at a rapid pace. The new ones can all do Ethereum better than Ethereum can. I just think they might end up getting out-tech'd. They were the innovator and have first-mover advantage, but like some of the early internet companies, I think they're in seriously danger of becoming, while not obsolete, a slow, clunky organism that serves its purpose but eventually kind of tops out on its potential. In a way, I see it as a Hive. Hive is an outstanding, fundamental cog in the ecosystem being created on top of it. But all of the "value" seems to be being built on top of it, without really sharing any of that value with Hive as a whole. Yes, there are a lot of synergies and the "sizzle" (like Leo) will bring eyeballs to the entire platform but what real value do they bring to the Hive token? It will be utilized in the trading engine and it obviously has the voting power but it's also inflationary without having much of the sizzle on its own. Just my opinion. Again, remember I've only been back three weeks so I'm still wrapping my brain around all the different dynamics at play here.
As far as Cardano, the tokenomics turned me off of that one right from the beginning. 45 billion coins with only 32 billion in circulation. That's a LOT of potential new coins coming on the market. Plus, there are bags and bags of the stuff out there waiting to sell at old highs. I'm sure it will do fine if they've got the tech figured out but...meh...just doesn't do anything for me. If and when it does manage to break out from 2017 highs, I might jump in for a trade but...I'd rather put my money in Leo or BTC. I mean, seriously, $1T mkt cap on ADA is $22. That's less than a 20x from here. The same 20x is BTC at $1M. Much rather risk my money there...
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Interesting that you bring up out ethereuming Ethereum.
There is a post that went up a while ago that adds another potential side chain doing what Ethereum does...Hive.
https://peakd.com/hive-dev/@klye/the-hiveloans-idea-implementing-a-true-solidity-smart-contract-capable-evm-side-chain-to-hive-and-the-future-decentralization-o
As for the utility of Hive, we cannot underestimate the need for Resource Credits. I think you get 50K active people on the chain and you will have a scramble for HP. Applications are going to have to get a hold of it so as to have it for their users. This is something that is unavoidable.
Thanks for your views on Cardano. It is always interesting when there is a big stake out there (like the founder's stake) that can be dumped.
It will be fascinating to watch Hoskinson to see what he does. Brilliant guy so he can create some great stuff. The tokenomics might be bad as you said.
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See, so that's something I didn't realize, just having returned to this place. Nice! Believe me, I'm happy about that. I want Hive to get all the love it can get since it is really the start of it all. I didn't realize that was a use case. That makes me feel better. I've been basically funneling some Hive into Leo but now I can go back and replenish it again. :-)
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