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Bitcoin a race to the bottom but Hive and Leo is here to stay

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@melbourneswest
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First of all, Welcome to all the new people who have joined us in 2021. Much Like I did in 2018, Mew year and Crypto was being advertised. I lost a fair bit on bull runs as I had no idea what they were and I was searching for the next Bitcoin. I think that's what has drawn everyone to Crypro. How a single internet coin went from nothingness to making people Millionaires over night. Well, it wasn't overnight but that's the story mainstream media was selling.

They were showing young guys and girls now Millionaires from an investment of a few cents and we all wanted in on the action. Surely what would be natural was for another coin to do the same. So people spent money on new coins promising to be the next bitcoin. But they weren't.

Like all communities and financial success the coins are only of value to the people in it. Bitcoin at the time was a small community fighting for what they believed in a decentralised world. A theme that is sconned at in the 3D world. Don't believe me? Bitcoin is anarchism, Bitcoin is socialism, Bitcoin is anti establishment and anti government coming to life in its own right. All the things that the 3D world barks at.

Protestors, socialists anarchists you know the drill. I'm sure you've heard it before. Someone scolding a protester. Well, until Bitcoin came to be and then the 3D world wanted in on the action.

The Value or Bitcoin

See, the value of something only exists if a community sees value in it. The larger the community the larger the value. As cryptocurrancy communities continue to grow so will the value in what it is they are establishing. Furthermore, the alluring aspect is the decentralised aspect.

As a activist and socialist I think there a few facets to Bitcoin, more so bad than good. In the long run.

Crypto at current

There are alot of great initiatives being born and Defi looks to be emerging as a winner. Earning interest through proof of stake alot less power hungry and cheaper to run. Bitcoins cost aligns with the amount of power it costs to run miners. A wonderful profit maker for mainstream companies and share holders of power companies. Increased power consumption = Increased profits. If I was a power company you'd knew what coin I'd be pumping to increase my profits.

What about transactions

Typically a worker at a bank being paid a wage would undertake a transaction. Workers only tend to work 9-5 in these positions. Limits when transactions can be done and paying someone a wage well there's a slash to your bottom line. With many regulators making local businesses employ locally (so they should) big corporations find it hard to offshore these workers.

But with Cryptocurrancy, the workers can be anywhere and quite often working for FREE or a few minor coins.

Infact, were seeing alot more 3rd world countries entering the race with cheaper utilities it is a profitable business model. You can't help but blame them, many are in countries that experience challenges that you and I can't even begin to fathom.

Will Bitcoin continue to grow?

In truth Yes, it will continue as more and more people enter the race, as long as there is electricity there will be Bitcoin.

Enter Hive

If you're on Hive, you're here to get paid in a coin you see value in and that will someday be the next "bitcoin'. Don't hold your breath as I don't think Hive will ever be 50k+ a coin. But who knows a great community might come of it like Leo is right now that will cause it too moon. It is after all a supply and demand game.

So you've probably joined and not sure what to do, have you missed the bull runs? No, Hive is undervalued atm as are many of its community coins.

At current I am still building my acct but I'm also working on building the community. I'm a relatively small fish and a deep ocean without impact. I've managed to become a dolphin and I could kick back upvote 10 posts a day, drop a few blog posts and just reap all the rewards. But that only helps me and doesn't get the community growing.

Instead, I've started delegating. This reduces my income but it gives someone else one that might not have been able to make anything. This in turn shares the pool of created daily coins with others.

More people with more coins growing their accts means more opportunities and more people will join the blockchain. This in turn increases demand for the coin and creates a bustling platform with a strong user base and a crowing community that sees value in the coin. Bit like Bitcoins early days.

What are your thoughts? Good plan or should I just keep my upvotes to myself?

Posted Using LeoFinance Beta