Hive Unit-of-Account Evaporates Once Again

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@edicted2 years ago
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Okay how crazy is that when I find a 4 year old $0 Steemit post when looking for unit-of-account images in Google?


Money is officially meaningless.


Nothing makes sense anymore.

My upvote has gone more than x2 to $20 a pop.
My posts are paying out three digits; even the shitposts.

If Hive can hold these levels I can probably pay for an entire month's worth of expenses from 3 days worth of blog posts and curation. This is great news for me because I was pretty worried that I was going to need to sell the vast majority of my rewards just to quit my job at Amazon. When it rains it pours, and money is raining from the sky right now with no end in sight.

The price of Hive should have dipped from $2 to $1.50 in order to complete the normal blow-off top pattern that we often see. I'm quite convinced the current floor for Hive is around $1.50, and that will not change even if we spike to $15. However, instead of completing the volcano pattern, we've seen another spike to $2.85 and are currently hovering around $2.50. That's crazy, although not super surprising.

The reason Hive can't crash right now is that we have a double airdrop in the pipe. I'm very excited about the NFT PVP game Ragnarok. Theycallmedan is a master theory-crafter, and it's going to be a pretty complex game, which means I can get the edge over all the noobs who aren't doing their research. It's also deflationary (set limit of cards) so I'll be rewarded for jumping in head first on day one without having to worry about being devalued.

On top of that excitement, Theycallmedan is the only developer on Hive who is working for free, and I've been saying for years that this is the future of Hive and crypto in general. Only crypto can monetize a business model that captures no value from the products they create. The legacy economy can not follow this path to freedom.

That means that I am essentially honor bound to heavily support these projects because there is literally no other competition. Gotta put my money where my mouth is. Ragnarok is going to be an HBD sink. All HBD will be sent to @null instead of sent to Dan's pocket, which is another inevitable future that needs to be supported. We must exponentially increase HBD's liquidity (probably with AMM yield farming) on top of constantly destroying HBD to eliminate network debt and boost the value of Hive.

I am a man of modest means, and when I see half a million dollars in my bank account, that's basically 100% fuck-you money. I'm been such a bottom-feeding stingy scrapper for so long that I can't even imagine spending one tenth of that money. That is not a reality I can even envision. Lambos need not apply.

At this point it's all about leveraging the money I have into building more value for everyone. Unlike Dan, who is a hyper-aggressive poker player, I come from the opposite side of the spectrum. I am weak-tight aggressive. This is the ultimate strategy for lowering volatility while still making money. When I try to loosen up I make too many mistakes and inevitably go on tilt. I'm quite certain crypto will be the same.

So I'll be looking for small low-risk investments with potentially high returns. If you saw my witness team, you'd know that I'm already in a damn good position. There are so many people on Hive that are willing to work for peanuts because of how messed up the corporate ladder of the "real world" is. Lots of people out there are willing to take a pay cut to try something different, and those numbers are going to massively inflate as the legacy economy implodes into its own corruption.

Training Grounds

More and more I've been thinking of what needs to happen to make Hive number one. Yeah, you heard me right. Hive will be number one on the market cap. Why? Because I said so, that's why. Like me, Hive has been clawing and scraping for survival, but it won't be long until we are a thriving ecosystem that can scale much much higher than anything ETH has to offer. As for Bitcoin: Bitcoin is irrelevant. Bitcoin is an afterthought. It's not even a store of value; it's a store of security. Bitcoin is only useful in an extremely hostile environment as a hedge against attacks coming from the legacy system.

Gamification of Education

If Hive wants to be #1 (and it will) then the type of infrastructure we require is going to be insane. We need to be training thousands of users all at once to learn how to code. But not only that, we also need graphic designers (probably even more than coders). We need people learning Blender, and inevitably we will probably have to fork Blender (perhaps more than once) to create specialized graphical software that makes more sense in the context of the Hive ecosystem.

But more importantly, people need to get paid. They have to be paid to learn, and they have to be paid even more to deliver product. This entire streamlined process needs to be a thousand times more satisfying than what the soul-sucking legacy corporate ladder has to offer (not a difficult feat). At first, it will not pay much, and new users will only be there because they want something new. But eventually, it will pay more than the legacy economy and there will be many tales of success (much like an MLM/cult; which I also want to create). Once that happens, the tipping point will have been reached, and Hive will ascend past Bitcoin with a flick of the wrist; effortlessly.

All this is not to say that we should dump our Bitcoin.

Any Big Player on Hive that doesn't hold Bitcoin is a fool. What do you think will happen when Hive starts hosting unregulated gambling and undercuts the income of every state lottery in the world? What happens when Hive threatens the very nature of republic governance and replaces it with DPOS (Republic 2.0)? If Bitcoin is a store of security, it would be very very stupid to abandon it right before starting an all out digital war with the legacy economy.

It's all about Bitcoin and Hive.

It's becoming painfully obvious that even Ethereum might not be able to flip Bitcoin at this point. Bitcoin on-chain fees are magnitudes lower than Ethereum at the moment, which means Bitcoin can still scale up and Ethereum can't. ETH is extremely bloated and dozens of EVM chains are popping up to capitalize on the overflow.

trickle down cup glassoverflow.jpg

Trickle-down, how about trickle-up?

Everything the legacy economy does is exactly the opposite of what it should be doing at this point. Healthcare should obviously be not only free, but extremely high quality. Citizens should be getting paid to diet and exercise so we can keep them out of the hospitals in the first place. Holistic medicines and plant research should be coming out with groundbreaking studies every day, but they don't because "it's not profitable". Wages should be increasing. Passive income should be on the rise. Robots and automation should be taking over. Everyone should be happy with the direction we are headed in. War should be something reserved for the history books.

It's so obvious we are an empire in decline.

The Titanic is sinking, and the MSM is out there saying that the boat being at a 20 degree angle is totally normal.

It's been such a privilege acting like nothing is wrong and playing these stupid fucking instruments when we could have been finding shit that floats and making a life-raft. Seriously, stupid monkeys are stupid. Don't be a stupid monkey. Make a life raft. Hodl on for dear life. Don't jump into ETH, that one is obviously full.


Rant over, and I have shit to do today. This one started pointing out the shock of number going up and ended with the death of the legacy economy. I guess that's a fair enough representation of what I see happening here.

If we want to scale up the Hive lifeboat to a bigger size, we've got a lot of work to do. We don't need more bloggers, that's for damn sure. We need devs and we need artists and graphic designers. We need brainstormers, but more importantly we need a better way to actually pay all these jobs in more fair and objective ways instead of just upvotes/downvotes.

Perhaps even more importantly, learning needs to be not only fun, but also profitable. Let these Ivy-League schools burn. They only offer reputation within the old system and provide a near worthless education. What we need now is people actually trained to do things.

This is the attention economy, and the easiest way to get people's attention? Money. How many people that jumped ship at 10 cents are back at $3? Pretty hilarious honestly. People are ridiculous, but we have to accept that fact and lean into it rather than chastise the inherent irrational programming of the mob. They are like that for very good reasons, and being annoyed by reality isn't going to change it.

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