The environment is changing.
And when the environment changes, two things happen:
- Evolution
- Extinction
The more environmental volatility that occurs, the greater levels of evolution and extinction we see. I look out onto the Earth and see quite a bit of environmental volatility. And this environment extends into the digital realm as well. The economy itself is becoming digital. You can't get a bigger change than that. The growing pains will be a thing of legend for all parties concerned.
If you run out of air to breath or water to drink, you aren't worried about what the price of Bitcoin is going to be tomorrow.
- You need those things today.
- You have immediate needs.
- You are made of meat.
Look ma: 3D printed it myself!
And so for me crypto isn't about generating wealth and living within the current system. It's about building a lifeboat and hoping that we won't get obliterated by this global volatility rocking the planet with no signs of slowing down.
Luckily our technology moves exponentially in the directions we choose. We have very limited direction with legacy capitalism: money must be made. Crypto opens up gateways that have been sealed since 1976 when the Byzantine Generals problem was first proposed. Flat-architecture is now building out into every direction. Money is now technology, breaking boundaries in every direction with the defining characteristic of 'borderless'.
Cooperative Capitalism is emerging before our very eyes, and it is a massive upgrade compared to competitive VC capitalism that relies on Intellectual Property and centralized regulation. We're scaling up to a much larger free-market, bigger than anything the banks could possibly hope to offer. And let's be honest: the current market isn't even free. The legacy system can't compete in the long term, not even close. Adapt or die: just like we saw with the Internet itself and 'free' data/bandwidth (Web 2.0).
Open source matters.
And the open sourced nature of crypto creates the incentives to scale up and synergize while working together like never before. Networks are being built and connections are being made every day. These connections take time to materialize, and a shiny new product isn't going to change the fact that time-in-the-field matters.
I still use and hold Litecoin.
Networking connections matter: social and digital.
On a network like Hive where your address is also your screen name, that's a big deal. Hive is on the forefront of reputation and governance.
An address can not have a reputation.
No one cares about 0xA614Afec999F93928F656cCc0eD3CEA0b8410c59.
That address can't have a reputation: ever.
We are diehards: Lord Kazzak Must Die!
These are addresses that can and do have reputation, a lot of it in fact. Every account on Hive has reputation and various relationships with others on the platform. You don't get that on other systems that are already far more expensive. I wouldn't trade my reputation for any amount of money; it is priceless and can't be bought.
Speaking of being bought, millions of Hive are being taken off the exchanges. Mark the timing, this is highly significant. We just had a Golden-Cross across the board, Bitcoin has confirmed supply shock three time already (most recently at $44k) and the two month consolidation phase is in the rearview mirror.
MEGA-BUBBLE AWAITS
Vitalik Blogs more about Hive.
The rising popularity of formalized decentralized governance of some form is undeniable, and there are important reasons why people are interested in it. But it is also important to keep in mind the risks of such schemes, as the recent hostile takeover of Steem and subsequent mass exodus to
Hivemakes clear. I would further argue that these trends are unavoidable.
...
The situation was only resolved through an outright mass exodus, where a large portion of the community moved to a different chain called
Hive.
...
Fork-friendliness is arguably a skin-in-the-game strategy, if forks are done in the way that
Hiveforked from Steem. In the case that a ruinous governance decision succeeds and can no longer be opposed inside the protocol, users can take it upon themselves to make a fork. Furthermore, in that fork, the coins that voted for the bad decision can be destroyed.
Honestly it's kind of amazing that Vitalik doesn't publicly own millions of Hive given how much he talks about it. But I guess when you're the founder of Ethereum: tribalism stronk.
The title of this Vitalik post?
Moving beyond coin voting governance
What he doesn't seem to yet understand is that Hive will be the first network to significantly explore this issue. I've already brainstormed multiple ways to create alternate reputations on Hive, it's just a matter of implementation at this point. A Mega-bubble will fund my projects something fierce. Get funds during the bull market: build during the bear. This is the way.
Again, it all comes down to scaling and communication.
Hive has both.
Conclusion
The most important thing to note here is that Hive has a lot of mechanics in play that cause supply shock: a thing that this community has not experienced since 2017. Many many people are underestimating Hive, even the users here today due to the fact of how much value was lost after the last mega-bubble. A 100x is definitely on the table as a possibility. Don't be surprised if we peak at $50 Hive or something insane like that. Steem could do the same (Tron has a ton of money). This bubble is way stronger than 2017 and Hive is grossly undervalued near rank 250.
Vitalik can see the writing on the wall:
"I would further argue that these trends are unavoidable."
Yes, they certainly are unavoidable, and when they start happening, what happens? Everyone will be looking to Hive once again as the most relevant scenario.
It's also important to note that 100% of Hive's bandwidth (RCs) is distributed from powered up stake. Right now Splinterlands is carrying us pretty good, but what happens when there are dozens of applications like that running on Hive? On blockchain, bandwidth isn't free. This isn't Web 2.0, these things now have a cost. That cost is HivePower rather than fees. It's a good system: a superior one in fact.
All in all the market is looking wildly bullish across the board. It's almost gross how bullish this market is. Bears are getting shredded on the daily now. Yada yada yada price price price.
Evolve or Die.
The Gods command it.