The Hot Take Of All Crypto Hot Takes
Quick question....
What determines a solid crypto project to invest into?
I have my 'must haves'...And I'm sure you'll recognize them when I spit them out.
Use case.
Community.
Development.
I am big on all these and rarely, if ever, do I look at the price of a token. Sure, we all wanna see things moon and all, but if a project doesn't scream with use case, community and development...I stay away!
No charts, no T&A, none of it. I don't care. Crypto to me is about a revolution in everything. From finance to social media, entrepreneurship to government. But I'm in the minority....
Here's why and buckle your seat belts because I'm sure this 'hot take' will piss someone off lol
People in crypto SAY they want more use case...But all they really care about is the price of a token.
Development and community be damned, they just wanna see some green candles!
Let's take a look at some of the evidence...
Bitcoin.
The king of crypto. The grand daddy.
What's it's use case?
Store of value, I'll give it that. When it's running on lightning, there's the possibility for day to day transactions. But overall, the use case for the king of crypto is...Limited?
Maybe I'm missing it, because I don't spend my time in the 'charts'. But where is Bitcoin when it comes to the markets?
Top of the food chain...Numero Uno!
A powerful brand and the grandfather of all this stuff for sure! And I know some around the world will tell you how much it's going to change everything but has the tech changed in the past decade?
Anyways, I'm not anti-Bitcoin, I love it in fact so....
Let's bring it closer to home...
People scream on Hive for each Hive Engine token to have 'more use case' but does that really matter?
We see loads of use case for some of these amazing projects on Hive Engine (not all, but some!) but what do people really care about?
What it's trading at!
We've become so hooked on the price of a project, no matter what the track record is of development, use case and community.
Is this what crypto is to become?
I'm beating a dead horse here, and I'm sure you've heard both @taskmaster4450 and I rant about this on the CryptoManiacs podcast, but we need to get away from judging a project by how it trades on a market.
This is why Hive and the projects built on Hive Engine are so important to me. There is all 3 of my 'must haves' here...
Use case. Development. And community!
I'm just not sure I buy the constant claim that....
'A project needs more use case' anymore!
We have all the use case in the world on Hive...Why aren't we a top 10 token on the markets?
Because people SAY they want more use case, but what they really want is...
Green candles.
24-7-365....
https://twitter.com/Jon_G_Olson/status/1574606181141983232
https://twitter.com/RuelChavez5/status/1574981380261310464
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Bingo, exactly! Those three criteria are what draws me to partícular tokens as well. Thank you for clarifying them by putting them to words. All three are equally important, and interconncted! 🙏 💚
That's a really good point. Each really feeds off each other and creates something truly unique.
!CTP
Yes! And in that special synergy, certain tokens seem to have a particular magic surrounding them. Use cases, community, and development - when they come together, a token can go far indeed. 🙏 💚
Thanks for such a quality post it is really helpful
Glad you found it helpful!
!CTP
Thanks for the ctp
Exactly! The technology has been overshadowed by unrealistic expectations of ROI and getting rich. Crypto isn't about rapid growth of assets-- it's about doing things differently. In a better sorta way.
Yup yup!
I'm just tired of hearing the 'whats the use case' when Hive is staring everyone in the face lol
!CTP
Exactly-- Most people want more use cases to lower supply after filling their bags, but that's the wrong question of any good business. The question is what is your purpose, who is your customer, and how can you fulfill that purpose and serve your customer better.
One of the things that horrifies me the most about hive is that I could be "successful" when nobody reads what I write at all. There are plenty of titles that I could write that would elicit more upvotes, but the metric I go by is the peakd number of reads. I don't much care how much of each token I hoard-- I want to write something that makes someone's day.
It's funny-- the stories I get the most feedback that people enjoyed are typically the ones that repel upvotes and curators, and I'm perfectly fine with that! Not that I avoid all low-hanging fruit like set reviews, but they at least get read and provide value to the community.
That's why one need to be careful dealing with any crypto projects,so one won't get victimised
If they have each of those 3 traits, I dont think we need to worry too much
!CTP
Yeah, you are right that's just the point
Well, you've said it all.... I was telling a person that Hive is doing astonishing well and this doesn't feel like a bear market because there's just so much to do around here. Green candles tickles people and as for Bitcoin I think because it's the alpha project, that's the cow it always milks. But Inevitably use case leads to good prices it only takes a lot of time.
In other words, they want the option of selling on highs! 😅 !LOLZ
!CTP
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It sounds exactly like what you are saying in Crypto Mondays (watching it right now) but I do agree. Hive is amazing and it has all three elements.
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Yup, that was the inspiration for the post lol
!CTP
How to refute what you said if it is 100% true. But we all have to eat every day and many people see the crypto market as a vital outlet. Others see it as a source of power, changing the world with money is much easier (if you can change the world).
The reality is that money is the blood of our life, the oxygen we breathe and the sun that warms our hearts.
There was a time when that was not the case and life was not better than it is now or if that is debatable, but what is clear is that that time is over.
Oh for sure, I get that it's so closely tied to 'money' and how we live. I just think the bigger picture is not just to pay the bills every week, but life changing tech and potential!
!CTP
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Yes for Hive, that would be splinterlands and the other apps. I am not sure if there are any other games going strong than splinterlands. I just hope any other NFT or the metaverse project too gets the attention. Once that starts to happen, Hive would get price hike and also it would get more mainstream.
Thats what sucks...We have the biggest blockchain game online, tons of use case and a passionate community. But because we dont have the price, we fall under the radar.
!CTP
Those 3 things are so important. You cant go wrong if it has all 3.
A sign of the times, @jongolson! Every crypto speculator knows the price of various coins. But the value of none.
I am hoping (I now "hope" is a terrible strategy) that a prolonged bear market may actually change this by keeping only those people interested who value what crypto in general, and Hive in particular, can offer in terms of value proposition, i.e. use cases, community and development.
That's when things will really kick off. Until then all we're doing is preparing for the BIG day.
Great approach to evaluating crypto. Thank you for sharing.
What people don't realize is that when BTC started, even it was worth nothing. It took about 10 years for it to become something of value. And if people hadn't held on t it and waited for it to grow to where it has been & where it is now, It still would be nothing.
Patience is the key hear, I've listened to you & others in the CTP tribe & learned a ton about crypto and it's possibilities. Very few will make it as BTC has but as you say what can you use it for and who stands behind it? Is the community behind good or are they even there just to make a quick buck on others?
There's a lot of questions that I think goes into this plus it's all about how one looks at crypto.
!CTP
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Amen brother. 🙏
You made me comment.
It can be frustrating but... long haul, long term, ect.
Us few will be looking back at the "jumpers" and laughing in a few years.
!BBH
!CTP
@jongolson! Your Content Is Awesome so I just sent 1 $BBH (Bitcoin Backed Hive) to your account on behalf of @bradleyarrow. (14/50)
We're so worried about the day to day...And I understand that believe me. But big picture thinking, this is something that'll be HUGE for us down the road.
!CTP
Absolutely
Hey Jon, off topic, but I won a “divine sorceress” card with dcity. I don’t play splinterlands, and am not familiar with all the ins and outs. I know you are a serious player. Interested at all?
oh for sure...I dont think I even have a copy of it.
!CTP
Hit me up in discord if you want to trade me some hive for it.
Decentralization isn't important to you?
Depends.
Decentralization for the sake of decentralization, no. We're still very early to it, but ease of use still should lead the charge when it comes to any kind of decentralized platform. Hive is winning that race.
!CTP
What are you comparing Hive to in the reference to ease of use?
Any traditional social media or membership site. Anything centralized is stupid simple for the user to sign up and get started.
But you think hive is winning that race? Every person I have sent here gets lost and requires coaching. Then gives up the second the concept of a witness is introduced to them.
I wouldn't say that's winning.
LBRY/Odysee would be significantly easier to registered for, and both are completely decentralized, odysees CDN aside. I doubt anyone is going to browse hive through a command prompt, and there is no stand alone software running hive for end users, they have to trust the witnesses that they don't even care to understand the purpose of or why they should vote for a witness.