Some take exception with what outlooks similar to this presented on Hive. Instead, these people would rather focus upon things that, in the long run, will not matter. Of course, anyone who says something to the contrary is ridiculed by these naysayers.
The problem is that being a critic is very easy. Simply mix in a bunch of negativity, likely some deep seeded self hatred, and a failure to understand how technology progresses and there is a recipe for a Negative Nellie. Naturally, to this person, it is all going to fail.
Here is the biggest challenge for these people. They are usually wrong.
Look at Elon Musk and Tesla. Do you remember all those people who proclaimed "they knew math", that is why Tesla was going to fail. It appears they were wrong. Tesla not only avoided bankruptcy but is now generating more money (profit), with less sales, than the other automakers.
But wait, what about the credits they receive from other manufacturers? In 2019, that was their only reason for profit. Perhaps that was the case but no longer.
Finally, there is the "competition is coming" argument. Unfortunately, it is heading towards the 4th quarter of 2022 and, other than a few of the Chinese manufacturers, there is none in sight.
The point is the naysayers were wrong all along. Yet, somehow they are convinced they will be proven correct this time.
Sure Musk doesn't always deliver on schedule. That is the nature of business. Manufacturing, development, and construction are difficult. There are a lot of things that can go wrong.
The same is true with coding. For this reason, there are a lot of delays with projects. It happens to Microsoft, Google, and even on Hive. Those who are expecting otherwise are not living in reality.
Blockchain and cryptocurrency are blossoming industries. This is not mature where we can see the huge revenue streams and massive penetration of the population. The same was true of the Internet. There was a time when not many people used it and the revenues were non-existent. Amazon was not always the major force it is today.
That is why looking for the signs of where things are progressing is vital. From this, we can get an idea of where things are heading.
Billions of Users
There are going to be billions of users for both blockchain and cryptocurrency. This is going to cause the price of many cryptocurrencies to appreciate greatly, especially those with utility. Hive is putting itself in such a position.
We are going to see many coins and tokens that have greater alpha than Bitcoin and, most likely, Ethereum. They will probably do very well, just others will outpace them. Will Hive be one of them? We shall see.
Of course, this idea is heresy to many. Yet, with the except of Hive, this is exactly what Dan Morehead of Pantera Capital said.
In a CNBC interview, he had these tidbits:
“The important thing to keep in mind is crypto is such a disruptive thing that’s going to change so many aspects of our lives in the next decade,” he said.
Where does this come from? Morehead obviously keeps any eye on the technology.
“I can see a world a few years from now where risk assets might still be struggling, but blockchain will be back to all-time highs based on its own fundamentals.
Hundreds of millions of people use blockchain today, but I think in four-five years, it’s going to be literally billions of people, and if you have a billion people, they want to buy a fixed number of coins, so prices will probably go up.”
So what are they going to be using? The Bitcoin Maxis will tell you that everyone is going to be on the Bitcoin network. In 2022, this is really a laughable statement. We know that is not going to be the case. Morehead actually believes the opportunity is elsewhere although not negative on the leading coins.
“We all are used to using bitcoin as a proxy for blockchain, there are hundreds of really interesting projects.”
This sounds like he is looking at what is being built as opposed to the hype.
“Bitcoin is no longer everything. There was a time bitcoin was 100% of the market, and for a while, Bitcoin and Ethereum were essentially everything. Now there are many, many really important projects, and you’ve seen bitcoin rally a bit, but the real story is projects other than Bitcoin and Ethereum that rally more.”
There it is in black and white. "Rally more" means alpha, one asset outpacing another in terms of price gains.
Could Morehead be wrong? Sure. Nothing is written in stone. However, here is a big time Wall Street, managing over a billion dollars in capital. He has run Pantera since 2003 and been one of the earliest movers into the cryptocurrency sphere.
Certainly we cannot conclude that this guy has any idea about Hive. Odds are he does not. However, what he is referring to is exactly what is taking place on here.
With the present coin price, there is every reason to believe that Hive can outpace, on a percentage basis, both Bitcoin and Ethereum. We have utility with the coin and more is being built. Projects are all over Hive, few of which would resemble rug pulls. Development teams are focused upon expanding and growing the offering of their platforms, upgrading the user experience,
Of course, when it comes to the blockchain itself, a lot of work went into security, scaling, and the ability to handle larger volumes of traffic. We also see an ongoing desire to keep reducing the cost of running the chain.
All of this bodes well for the future.
Media and Entertainment Disruption
Tell me if you heard this before:
The ledger technology may aid the production of new content by allowing content creators to have more authority over their production. Blockchain will allow music artists, actors, and journalists to easily follow and monetize their content.
Does this sound remotely familiar?
How about this?
Elimination of centralized third parties like YouTube is imminent.
Of course, when people on Hive make this proclamation, some laugh at it. The executives at Kodak thought the same way.
This move also means that the artists will earn much more than they currently do under the centralized media and entertainment production system. Artists will also benefit greatly from long-chain revenue in the Blockchain network.
Since we are dealing with something global in nature, this can impact activities taking place anywhere in the world.
The distributed ledger technology will enable content creators and entertainers to handle projects involving different locations, countries, and continents using the hash mechanism representation. For instance, blockchain technology could easily conduct payment transactions faster and cheaper. A media company may work hand in hand with another media company with transactions concerning the projects happening inside the blockchain network.
We could keep going on. This is from an article on crypto.com explaining how blockchain is going to disrupt the media industry. Click here if you want to read it in its entirety.
What is the author talking about? Hive.
Naturally, we are going to presume this individual has no clue what Hive is and, thus, is not using it specifically for the conclusions drawn. Nevertheless, the concepts introduced describe Hive.
What is interesting is the author uses the future tense. On Hive, we are dealing with present tense. In other words, we are already doing some of this, albeit in the embryotic stages.
Talk Is Cheap
We all know talk is cheap. Some of the naysayers will claim this is the problem with Hive, a lot of talk. However, when one steps back, there is a lot taking place that is more than talk. Things are being built which separates it from the rest of the pack.
It is one thing to go through seed rounds with the VCs. The challenge comes from getting something on market and people actually using it. Where have we see this in the cryptocurrency industry?
Sure we can point to Coinbase which was a success from that perspective. Some of the wallets such as Metamask are seeing tremendous numbers. Yet when it comes to the non-financial, average user, what is out there?
Hive excels in this area. For all its faults, which do exist, we are seeing areas of focus that are vital to the future expansion. It looks gloomy now because the bear market is on the mind of most and people want to compare blockchain based applications and games to Web 2.0, platforms that existed for more than a decade. That is not how it works.
To compare Twitter, and its 15 years of development to 2 months of LeoThreads does not make much sense. Of course, they are not comparable. Neither is Defi, which has almost 3 years under its belt, when looking at the existing financial system. Wall Street had more than a hundred years to build what it has. We need to give DeFi a bit of time.
A big part of what is going on is focused upon infrastructure. This is the not-so-exciting stuff to most of us. It is, nevertheless, vital. Take the Hive Application Framework (HAF) as an example. For many of us, this bored us to death. That said, from a developer standpoint, this could be a major breakthrough, making the creation and maintenance of applications much easier.
Anyone judging cryptocurrency, blockchain, and even Hive is looking at marathon and deciding the winner at the end of the first mile. There is still a long way to go. As long as Hive keeps developing and expanding, we will see how the technology offers massive potential. This applies equally to users as well as development teams.
Image of Dan Morehead from article linked.
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