Hive to become tomorrows Amazon

How good would that be? today you're blogging away for a few cents and in a few years time the chain is worth billions and now you can live the ultimate dream, make a living off blogging.

Sounds too good to be true? well don't discount it yet as sector experts are already saying that Crypto crash survivors could become tomorrow's Amazons, eBays and Googles. Yeah, you might be thinking what does Hive have on all the other crypto projects and it doesn't compare to Amazon and eBay.

To that my friends I would say that you're wrong.

Image Source

The recovery

We've experienced on of if not the largest crypto crashes recorded to date now, I've effectively lost money each and every cycle (yeah I am one of the unlucky ones) This latest crash completely wiped me, or did it?

Hive peaked to $US3 and it made my account value look pretty sweet at $US45,000 and then we crashed... but we didn't. Hive just dipped with the market as it follows Bitcoin. If you look at the internal market it is sitting at $US0.40c which is still higher than the 9c Hive from two years ago, way more!

Whereas if I look at all my other holdings they have disintegrated to $0.

Bullish on Hive

That in itself leaves me bullish on Hive and the fact that Hive is it's stand alone blockchain gives it some added security. I know that I have previously called for opening it up but after assessing much of the data Hive being closed it probably a good thing as it acts as a protection. You can still bridge some assets here which is a good thing and provides a loose connection.

But the take-away from all this crash is the fact that Hive, once again survived and continues to. I ran my numbers recently and learned had I invested just in Hive over these years I would be in a far better position with a net loss of $0 in the worst market crash thus far.

Will Bitcoin regain and lift Hive?

That's the big question everyone is waiting on and when Bitcoin will rise again. I have my thoughts on this and I believe it to be very soon because there are some contributing factors outside the economy that may see Bitcoin come back but a lot stronger.

At current energy consumption for Bitcoin Mining has halved this is due to inflation impacted the cost of electricity and many miners now not making the same amount of money to cover the costs of mining.

This needed to happen because it slows the mining of Bitcoin and reduces the amount being dumped to cover costs of mining and it will also take quite a few mining companies with it due to high levels of debt associated with purchasing mining rigs.

But this is good news for Hive which doesn't require a high output energy device. Simply put I am mining Hive right now by writing this blog post. Although it is only worth a few cents in future as the network grows and more people are onboarded the payout amounts to people reduce as inflation is only so much.

What does that mean? your rewards won't be as big and to gain size will be harder to do meaning you will need to buy Hive to do so.

Hive has survived and continues to survive through all the wintery months but it's summer will most likely be bright.

Image Sources provided supplemented by Canva Pro Subscription. this is not financial advice and readers are advised to undertake their own research or seek professional financial services.

Posted Using LeoFinance ^Beta