The Benefits Of Hive Flying Under The Radar

about 2 years ago

It can be agreed that Hive is overlooked completely by the cryptocurrency community. This can be a fact that frustrates many within the ecosystem. Of course, much of this is tied to the idea of "price go up". The majority are mainly concerned with where the price of the coin is. For some reason, people feel the markets, which are emotional and insane, knows how to reflect value.

History shows this is not the case. If they were apt at this, bubbles and major crashes would not occur. The fact they do shows how misaligned markets can get.

That said, many on Hive understand there is a process. This is all tied to technology and that requires builders. Over time, as infrastructure is created, we can see how what is available to developers, as an example, will be greater. This will likely result in more development, churning out more games and applications.

All the while, we are out of the limelight. From a price go up perspective, this is a bad thing. However, from an overall resilience standpoint, this carries major benefits.

Keep Building

The advantage to having the time to build is the fact that we can correct our mistakes. Over the years, we saw what happened to the quick hit projects. Either they were overhyped and, ultimately, under delivered as in the case of EOS or they were open to a major attack such as Terra UST. We would be remiss if we didn't mention all the rug pulls and scams that also accompanied the progression of the industry.

Hive is away from much of this. We all complain that nobody takes us seriously when we see we are legitimate. Many of the problems people are trying to solve are answered by "Hive solves this". On this one, we are preaching to the choir.

A discussed point is marketing. Many feel that Hive would be better served if we marketed. This was a conversation piece for years. We even went so far as to use funds from the DHF for this purpose. Yet, we are still in the same place. Perhaps the idea of marketing in the traditional sense is not the way to go.

We see the slow progress projects are making. Those who are here daily understand how it is like watching paint dry. In the short-term, very little changes.

This is not, however, the perspective of the person who just signed up. To that individual, the stage things are at is the starting point. What it was like a year ago is completely unfamiliar. Perhaps we need to consistently step back to adopt this viewpoint.

Progress is being made. Development takes time as evidenced by Ethereum's multi-year run up to Merge. Naturally, they still have not addressed the transaction fee situation. We will see how long until the next few updates roll out.

Hive is out of the spotlight, quietly building infrastructure. This is what much of the industry is lacking. We are using this time to put together what is needed for others to build.

Version 15.2

We have to understand that much of what we deal with on a daily basis is an advanced version of what things were like years ago. Facebook is not on version 2.0. Neither is Twitter. We see how the banking and financial system took decades to evolve. None of this stuff is anywhere close to its original format.

Here is where Hive is expanding yet with few eyeballs. When something new is introduced, especially with technology, it is buggy. There are vulnerabilities that were not discovered during testing. We saw this with the hard fork where an update (another hard fork) was required. Imagine the attention if Hive had 10 million daily users. From an industry perspective, it was not even noticed.

Each time we update something without the attention, we are progressing. Anyone who writes software knows that while version 2.0 is a step forward, the real difference comes in when you get to 15.2. In other words, it takes a great deal of work to make the application anywhere near functional. Going from a MVP to something that is feature-rich in an effort to appeal to large numbers is a grinding process.

Those building on Hive has this opportunity. Over the next 6-12 months, it is likely the same environment will exist. Builders forge ahead during the bear. Some are getting attention, Hive is not.

Watching The Industry Struggle

Hive is advancing while a lot is falling apart. The original tenets of cryptocurrency and blockchain are being lost. We can see that on a regular basis. Ethereum is nearing the time where it will basically be a chain that is open to KYC. That is a stark change from a year ago.

Political and regulatory bodies have cryptocurrency on their radar. People like Chairman Gensler of the SEC are taking aim at projects. Fortunately, Hive isn't even something he is thinking about.

This is the advantage.

When we realize that the defense against all this is distribution, decentralization, and redundancy, it is easy to see where the focus needs to be. Of course, we have to mention that all of this requires time. The goal has to be more wallets in more countries holding greater stake.

It is a step-by-step process.

Hive is not ready for primetime. As much as people want that, we simply are not there. Foundations are being put in place that will make Hive's offering powerful in the future. Nevertheless, the horse is still behind the cart.

We saw how quickly attacks can take place. Very little about what we have designed could stand up to that. At this moment, we are still in need of many lines of defense.

Liquidity pools are required. Listing on different DEX is imperative, even if we have to build them. Derivatives are necessary to insulate our base coins from manipulation and attack. Optimization of infrastructure and applications has to take place. Wealth tied to value generation must be realized to further the depth of the ecosystem.

All of this leads to expanded financials offerings moving Hive into the DeFi realm.

We are building this from the ground up. Much of what we are doing is baseline stuff at the moment. Other projects have the ability to simply fork code such as with the EVM. Hive cannot do this.

Nevertheless, at the end of the day, we are constructing something powerful. Just the few projects that I am aware of are moving towards a time when they will really offer a difference on Hive. Pieces are falling into place already.

Patience is a difficult thing, especially in cryptocurrency. It is a builders world. Without that, there is only hype which equates to a pump and dump.

Hive is taking a different approach. There is no hype, hence the P&D other than the Upbit short-term manipulation, is non-existent.

That means when the price of $HIVE does explode, there will be a valid reason for it.

In the end, Hive is going to surprise a lot of people. The fact it is off the radar to most is of great benefit at this point.

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