Is HIVE crypto real money?
Direct from the desk of Dane Williams.
Yes, the money you're making blogging on Hive is real.
Let’s start off by asking another question - What even is money?
“Money is a commodity accepted by general consent as a medium of economic exchange.”
While we all think in terms of dollars, euros and pound sterling, by definition, basically anything that can be exchanged for value can be interpreted as a form of money.
So with that in mind, can HIVE crypto be priced by general consent and then exchanged for goods or services?
According to our friends at CoinGecko, the Hive price today is:
The answer to whether HIVE crypto is real money is an unequivocal yes.
With the ability to trade HIVE on multiple centralised and decentralised markets, you can transfer it to an exchange, cash it into your fiat currency of choice and withdraw it to your bank account.
All with the single click of a button.
The bottom line is that the money you make blogging on HIVE is about as real as it gets.
Why do people think crypto like HIVE isn’t real money?
It’s a funny one, isn’t it?
Surely I’m not the only one that has been asked whether the crypto that we’re earning from our blog is REAL money?
Like they genuinely expect me to say that it’s just colourful, digital monopoly money that looks pretty.
Err…
To a lot of you reading this here on our very own Web3 blogging platform that pays for content and engagement in crypto, it’s become totally normal.
But the concept of being paid in crypto like HIVE is an extremely tough concept for regular people to wrap their head around.
Think back to any piece of new tech released in your lifetime that has literally changed the world.
If you’re anything like me, you’ll have experienced extreme pushback from certain elements of your circle who simply don’t want to understand it.
However, just like PCs, the internet and GPS in my lifetime, the mass adoption of crypto is inevitable.
Time stands still for no man!
Crypto like HIVE will be accepted as real money just like any other foreign fiat currency soon enough.
HIVE crypto is permissionless, censorship-resistant money
HIVE has some key properties that not only make it money, but make it far superior to the so called real money that you use day to day.
Have you ever considered what would happen if your bank suddenly decided that you were no longer able to send or receive fiat currency to your account?
Most likely you consider yourself a fine, upstanding citizen and member of society that a bank or government would have no reason to shut you out of the legacy financial system.
But every day, we see examples of people that you wouldn’t consider classic criminals, being shut out of the system for reasons that can be described as arbitrary at best.
HIVE has an edge in that it is actually fully digital, permissionless money that operates with the backing of a fully decentralised network.
By controlling the funds in your Hive wallet with your private keys to your account, HIVE is censorship-resistant money.
As long as you have the keys to your account and the person you’re sending it to has the keys to theirs, you can always transact.
No questions asked.
Ever.
You’re always entitled to fast and free transactions using the Hive blockchain network.
Hive even has its own stablecoin called Hive Backed Dollars (HBD)
Finally, it’s worth noting that in today’s world, you obviously still want money priced in terms of fiat currencies.
While the price of HIVE crypto fluctuates on the back of supply and demand in the market, the Hive blockchain actually has its own stablecoin that you can swap in and out of.
Hive Backed Dollars, otherwise known simply as HBD, are the Hive Blockchain’s USD pegged stablecoin.
Supported by the Hive network’s ability to convert HBD into $1 USD worth of HIVE crypto at any time, they provide a unique solution when compared to the classic, collatorialised stablecoins such as Tether.
Rather than being backed by USD, the Hive network’s conversion mechanism has instead pegged 1 HBD at or over $1 USD.
When it comes to using Hive’s stablecoin, an example would be that $10 worth of HIVE to always be converted to 10 HBD.
Obviously with the same being also the case in reverse.
As long as HIVE crypto has value, Hive Backed Dollars will always be able to be converted by the blockchain, at their USD pegged value in HIVE.
Best of probabilities to you.
PS. If you or someone you know are ready to sign up for a Hive crypto account, then LeoFinance makes the process super simple.
Simply click sign up at the top right hand corner and you can be earning real money blogging on a Web3 account you own.
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I was skeptical about the entire blogging to earn when I started but it was weird to think about crypto as money. Of course, it ended up being so after I did spend crypto to buy something in a game (the most expensive purchase looking back). Hive is quite amazing after you learn more about it.
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Okay, I'm intrigued.
What did you end up buying with your HIVE crypto?
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It was BTC and not Hive crypto that I bought. Maybe it's just that experience transfers over and I think I may of written it incorrectly.
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I think that the first time you use your crypto to buy something you wanted for a while is the best moment in a long line of moments both good and bad in someones crypto journey.
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Magic internet money. But still its money.
!LOLZ
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lolztoken.com
should burn in hello.
Credit: marshmellowman
@forexbrokr, I sent you an $LOLZ on behalf of @imno
Use the !LOL or !LOLZ command to share a joke and an $LOLZ.
Delegate Hive Tokens to Farm $LOLZ and earn 110% Rewards. Learn more.
(8/10)
Magical internet money is the best saying.
I use it all the time haha.
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internet funny money
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!LOLZ
That's good too. My heart still belongs to magic internet money though :)
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I've only recently seen the "Magic Internet Money" meme, and I think it perfectly expresses what folks outside of Web3 think.
People outside of Web3 are unwilling to accept that there are other values in the world beyond FIAT. Eventually they'll join us, but in the meantime we are just speaking Klingon to them.
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I can't believe you just saw that. I think I've been using it since 2017. It's a good one.
People will catch up. No idea what the landscape will look like when they do though.
!PGM
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Magic Internet Money has a special ring to it, and I like it also. This is exactly why we engage on Leofinance.. to learn stuff we don't know. I learn new things everyday around here!
Knowlege it's what's being served at the Leofinance Cafe.
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Exactly! Its 100% real money!
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If it wasn't as such I couldn't live off of it for almost two years ;)
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Social proof that HIVE crypto is real money ☝️.
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LOL!
The proof is in the pudding, or for you, the proof is in the living!
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True
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I will answer briefly ... absolutely!
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Pretty much sums it up!
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My answer is only the answer of a person who has tried to take a bite of the cake and realizes that it is filled with delicious cherries, but for people who are not familiar with the beehive, who see only the dough, your question is very relevant. Have a great day!
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Brief and to the point is okay.
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In this case, extra words could only reduce the degree of my confidence in this)
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I consider it more money, than the banknotes that I have in my wallet. Basically, because I built it up from scratch, and am very proud of what I made of it. Some may find it "funny money", but I don't care! It's as real as the sun and the moon are!
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HIVE crypto is funny money!
But even funny money is still money ;)
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I agree that riches you build with your own two hands, have much greater value then those given to you.
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Thankfully, I was never asked if Hive is real money hehe.
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You must have much more open minded friends and family than I ;)
I receive so much pushback and skepticism when I talk about making money blogging on Hive.
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Because I kept mum about it until they got so curious what keeps me busy. I just showed them my page haha. But then instead of joining us here, they said "that's your field so go for it, we don't know what to write about..."
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I think I may want to live where you live.
It sounds like a progressive place!
:)
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Haha, it's surviving :) And at least it doesn't have any ban on crypto :)
This takes me back because one of the reasons I wasn't very active on Steem when I first find out about it 4 years ago was because I didn't think I was earning real money.
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I bet your opinion soon changed when you were made that first withdrawal! :)
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Oh yea
I was like damn I need more of this!
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Hello. Have you created guide post on Thorchain/RUNE? Thanks.
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Yep, here's our THORChain (RUNE) guide.
It needs a bit of an update and cleanup, but that's a start for you :)
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Thanks very BIG.
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Thank you. Really helpful.
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I wrote a post a while ago, where I mentioned that I took out half of my SPS airdrop and bought stocks on the stock exchange with it. I think this is tangible proof that crypto is real money!!
I actually did a comparison between the two and they were both worth the same amount - I should actually do the comparison again, as both market fell!! Would be interesting to see!!
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Oh yep, I remember that blog you did and I see you've now done the follow up.
So your stocks have marginally outperformed SPS since.
But there are plenty of excuses as to why this is possibly the worst conditions ever for SPS.
The end of the VC dumping, crypto panic etc etc.
Looking forward to the next follow up in a month or so :)
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Yes, it will be great to see, specially after the end of the airdrop!!
Agree 100% that Hive is real money.
If I had enough of it, I would love to create a Hive Beach experiment like Bitcoin Beach, if we had such an economy with a closed circle I think the utility of HIve would be very evident.
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Haha, I hope I earn an invite when you create it ;)
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:)
Indeed you will.
LOL. I can relate.
I tried introducing Hive, its blog-to-earn model, and as the "social media of the future" but received a negative response.
The first person says that he doesn't count Hive as real money. He preferred to invest in a traditional investment system that obviously pays an APR that is lower than the our fiat inflation rate.
The second person says that he doesn't like the idea of true ownership.
I tried to explain my point of view but to no avail. They wouldn't even listen.
Maybe to them, I sounded like a mad man. lol.
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I certainly feel like a mad man... heck, even a fool on some days.
But I truly believe in Hive as the premier network for not only real decentralised money, but also free speech.
We will be proven right in the end.
Probably ;)
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Yep. What really hooked me in Hive is being a decentralized social platform. Plus, of course, being paid to learn.
I can't for the that time to come when we are proven right in their own perspective.
Anyways, it's their loss not ours. :)
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I wouldn't consider it money but more like a rewards points system. An effective money would hold it's value a bit better and in the idea of "consensus" a few million people and i'm being generous it's more like maybe 10,000 active users i'd consider it more like a website points system
Now i'd consider bitcoin myk more of a money due to it's tokenomics which hive does'nt have that makes it act more like a money. i also think bitcoin myk can have billions of users in this consensus as opposed to less than 10,000 people earning money writing.
Also you must consider this is more like a writers guild clubhouse. The problem is most of the world isn't skilled writers to take advantage of this situation. Which means they'll never reach consensus on this unless you assume you all will get some useful application they need which would be conjecture at this point.
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Do you genuinely believe what you say about Bitcoin MYK?
Or are you just having a laugh with us all?
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haha, i'm going to have a laugh at that comment. You should really spend an afternoon focusing on the negatives of hive it's a good exercice and it's a healthy one.. it's not the things going right that are the problem
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I've been asked more times than I can count if the money is real. I just tell them it's magic internet money.
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Haha magical internet money is such a good saying.
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It's so fun to see people's reaction to it.
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https://twitter.com/forexbrokr/status/1521764435320516609
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