The Hive early adopter fallacy

An interesting statement was made the other day about the advantage that early adopters have in Hive and I disagree. The problem with this view is that it makes the assumption that all one has to do is be early in and the gains are guaranteed, and this simply isn't the case. What was more interesting I think about the statement was that it was coming from someone who joined in mid-2017 - which by most people's measure, is an early adopter of Hive - but don't seem to have taken advantage of being an early adopter themselves. So, what's the deal?

Being an early adopter of a new technology has an advantage of opportunity, but it doesn't mean that an early adopter is going to act upon it, invest themselves into it, or behave in a way that enhances their experience. Often, it is quite the opposite, where early adopters take the opportunity for granted instead of as an opportunity at all. I have watched hundreds, if not thousands of accounts that could have both added value and increased their worth on Hive over the years, only to squander the potential for various reasons. It isn't just that they didn't invest, it isn't just that they used their earnings rather than build their stake, it isn't just that they failed to do anything that others in the community found valuable, it is often a combination of all of these things - and probably more.

I am not criticizing them for what I would consider the loss of opportunity, but it isn't a failure of the system, or at least as they seem to think it is. For example, I know plenty of accounts that joined around the same mid-2017 and they are very large dolphins and orcas in the same time frame, and the reason they have consistently been able to build their account is because they have consistently taken the opportunity to be part of the community when they can in ways that the community have deemed valuable.

While many of those who see the failure of Hive as it doesn't give opportunity to small accounts, it is an uncomfortable fact that many of the larger accounts on the platform have built themselves up from nothing. The assumption is that those who have been "successful" must have done it dishonestly is also one of the beliefs held by many who have failed to take advantage of opportunity - but again, it is an uncomfortable fact that this is not the case. Anyone who wants to check, the track-record of accounts is available to see.

If anyone bothered to actually check, a lot of the larger "from nothing" accounts are those who have put in the effort required in ways that are seen as meaningful for an early adopter to take advantage of the potential energy, the opportunity of being in early. It is a "buy low, sell high" approach where the early effort was made for potentially very little reward, but later it takes less effort for the same return. It is like the development of any skill, the cost in energy to ramp up is high, but maintenance of a skill is quite easy.

The thing is, Hive is not a place for everyone, even though anyone can join, because it is too complex for some, too basic for others and too "toxic" for a few. But, this is the case for anywhere there is the opportunity in a young industry and probably anywhere there is value. The life of an early adopter isn't for everyone either, nor is the position of an investor. risk taker or loss maker. Yeah, there is a high propensity for loss on Hive - loss of money for those who put in some fiat, loss of time and effort for those who invest their energy and for me who is willing to lose all of that, loss of patience with those who continually complain about the place.

I think loss of patience is common on Hive, though most are probably impatiently waiting for it to make them rich - an easy thing to want in this life of course as so many who come onto Hive are struggling financially. That is pretty obvious, because people worry about small amounts (even if from wealthy regions) and so many are unable to put some of their personal value into their stake. You can say that they are unwilling because of the community itself - but those same people are here talking and posting and complaining about values and opportunity to grow their account.

@themarkymark has been running some "buy small amounts of Hive" posts lately, 5, 10, 20 dollars worth - and while that is a lot in some countries, it isn't in pretty much any western country for pretty much anyone unless they are homeless. Then, if a person is unwilling to buy in out of some ethical or moral stance on the platform, why are they here and why are they transacting and willing to take any HIVE from the pool at all? Wouldn't that make them unethical and immoral?

The thing is, that pretty much anyone who came into Hive in 2016 or 2017 could have got some traction and built a relatively well-sized account as long as they put some consistent effort into something that the community actually cared about. Even 2018 and 2019 accounts can be of decent sizes - I know quite a few. It doesn't mean every post will have got voted highly, in fact, most might not have been at all, but if they had consistently built anyway, even a slow growth would be significant now.

The thing is that being an early adopter doesn't change skills, it doesn't change personality, it doesn't change behavior unless that early adopter chooses to change, chooses to look at what they are doing, the environment they have available, and then shifting (if they need to) to use the potential of the tolls at hand. There isn't one tool, there are many, there isn't one way, there are many. The thing is, that just because one person wasn't able to take advantage of early adopter status, it doesn't mean others did something wrong to be where they are today.

My failure isn't your failure - your failure isn't mine. Own your life.

Every industry that has ever matured is littered with the bodies of early adopters who had the opportunity to take advantage of the potential, but failed to do so for one reason or another. It could be that they weren't willing to invest, couldn't bear to wear the loss, didn't have the mindset to look long enough or had to pull out early because of immediate needs. Because these industries survive and thrive today means that they were successful, despite the failure of many early adopters to benefit from being in early.

I don't blame people for complaining about the system if the system they are not personally suited for the system, but at some point, people have to recognize that just because they might not be built for the current conditions, it doesn't mean no one is.

For me, I came onto Hive financially wiped out and desperate, but have chosen to roll the dice on the future, work hard IRL and keep expanding my footprint in crypto, in ways that I am comfortable with. Most people won't be comfortable doing what I do - not because it is wrong - but it is too much work, takes too much time and comes saddled with too much risk of loss. We all make our own decisions the best we can.

The funny thing about the early adopter fallacy of benefits is, many people don't recognize that this is 2020 - we are all early adopters in this industry. If you don't see that, perhaps you are one of the people who will take the opportunity for granted, instead of to your advantage.

Taraz [ Gen1: Hive ]