The Increasing Utility of Hive.....
It's been encouraging to see the price of Hive trend steadily upwards over the last several months - the latest 'leg up' seems to have Hive settled comfortably above $0.80 which is just fantastic, and a boon to all of us who bought when it was MUCH cheaper.
I like to think that this is because Hive has developed MORE utility over the past year or so - both in the sense of it having a greater range of uses and in the sense that more users need more of it for various reasons.
In short, more people need it for a wider variety of purposes.....
Splinterlands (of course!)
The most obvious 'cause' of Hive's increased utility is the phenomenal growth of Splinterlands....
I tested out (with an alt account) how much Hive Power one needs to be able to rent out a few dozen cards a season, make a few transfers and post a few comments every day, and I struggled to get by with < 50 HP, and given that there are hundreds of thousands of accounts playing, that equates into millions of HP having to be powered up.
Not every account is that active, but many will need more than 20 HP certainly to have enough Resource Credits to be able rent and buy cards.
And as to people with hundreds of thousands of dollars of assets invested in the game, surely it makes sense from a security perspective to have at least several thousands of Hive powered up....?
Cub Defi....
Cub Defi provides a relatively easy link from Hive to Binance Smart Chain and shortly to Polygon, which offers an easy, low-fee way of transferring assets to and from Hive.
Other games
There isn't anything that comes close to Splinterlands - but any NFT game which has assets stored on Hive such as @risingstar @exode and so on requires people who play to have Hive Power up so they have sufficient RCs.
Hive and the Tribes
Anyone who establishes a new tribe/ token creates yet another use case for Hive - if the standard means of curating is to power up an alt, that's another 10-20 Hive we all need right there, and any new users brought in because of the special interest community - more Hive required for posting!
Pooling on Hive-Engine
There's also increasing utility in keeping Hive liquid and pooling it with various Hive-Engine tokens for a return.....
Again, the most obvious candidate here is to pool Hive with DEC for an SPS return, giving you a 160% yield, but there are also tempting offers elsewhere:
@flauwy's oneup:hive pool is currently offering a nearly 300% return for another 60 days or so and there are several other options which give you over 100% return.
There are also some tasty returns for staking !PIZZA with swap Hive too and a few other tokens.
You can check out the diesel pools here.
Trading on Hive-engine
Of course it's possible to sell DEC, SPS and LEO on BSC, but the only place you can set limit orders for these tokens is on Hive-engine, which again requires you to hold on to your Hive!
HBD: the 10% stable-ish coin - and maybe more?
OK HBD IS NOT STABLE, but it's stable-ish and it's spent the last 6 weeks hovering around $0.96, and that 10% yield is tempting people in - me included, there is now $1.6 Million locked in HBD (source).
And when you earn in HBD, it doesn't feel like it matters that much that it's not $1 - If I can earn 10 HBD in November and that's worth $9.70, I'm happy enough if I can then cash it out for $9.70 in February, even $9.60 wouldn't be too bad....
IF HBD could be REALLY stable, that would encourage me to actually buy some rather than just hold it in savings!
PeerPlays DEX
There was also a recent announcement about a collaboration with PeerPlays giving Hive users access to a DEX, but I think this is forthcoming, still, more utility!
3SPEAK - DID SOMEBODY SAY AIRDROP?
There is also an airdrop coming from @threespeak in the not too distant future.... I don't know how big this is going to be, but it could encourage more people to lock up Hive for longer periods...I think it goes on for a year, starting in January 2022.
NB I'm sure I heard this January date announced somewhere in the last month, but I couldn't find reference to it on either @theycallmedan's account or the @threespeak account? Maybe I just heard it on a show or through the grapevine?!?
Anyways, I'm sure it's coming at some point!
Final Thoughts: Hive's Increasing Utility....
It's a nice feeling to have - I've NEVER before felt that it's so useful to hang on to my Hive - ironically (?) ATM it feels more useful to have liquid Hive, because of the pooling options, but once the Speak Network drop starts, I guess I'll Power some back up again.
Whatever I end up doing, it's nice to have several options.
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It's much better for Hive to be a place where you can do things than the same old "come here to blog" 90s website. The old mantra was severely limiting and blogging isn't even the best aspect of Hive.
My 2 cents anyways.
'90s? You mean when Hive was Steem?
I still enjoy the blogging aspect!
The issue (it’s relative of course) with those use cases is that they are fairly centralized. Hive Engine contracts are not smart and if you want custom code you need to bake into the code with approval of their witnesses, instead of writing a contract like Ethereum does with Solidity.
Hive is used by those apps as a messaging railway where people post the JSON string code of what they want to do and their servers validate and update the data on their servers itself.
So for example if you want to check someone’s NFTs or game tokens you can’t check Hive because the data is not reliable, it is not reliable because it only stores the data and does not process it (so someone can spam the same JSON command in a game but on the game server nothing happens because the server deems it invalid), so you need to query the centralized servers to validate the information as anyone can broadcast and store any JSON on Hive.
So games on Hive are not yet really decentralized. There are people working hard on it but looks like this is a big task IMO.
Fair points!
Very exciting. I feel a little jealous I only started to be on Hive (and related projects) in September. You guys have done very well investing in this sooner. Well done!
As for the 3SPEAK airdrop, the snapshot will happen Jan 06 2022 at midnight PST. You can find more info here: https://peakd.com/hive-112019/@spknetwork/spk-network-or-larynx-miner-claim-drop-90-days-until-snapshot
Cannot wait to get the airdrop. Although, I have very little Hive staked. We'll see 😊
Ah thanks for the link, it's the new account name I'd lost somehow, cheers!
!PIZZA
It's sure an exciting time on the Hive blockchain! I was wondering what @flauwy has been up to! I miss seeing his posts on this n that. It's tough for my brain to keep up with it all!! I've heard Jan 6th is airdrop for 3spk, tho i didn't know they're doing a year long rainfall type delivery. That's cool! I still need to figure out what happened with my BEOS tokens they did a similar drop thing with!! Lol Never a dull moment!! I appreciate your posts & hearing your take on things!! Thanks :)
Crikey BEOS, I sold all of mine a while back!
Lol it's a miracle i got my hands on some. Now wha?!! ..... i am not quite sure!!! Lol
Well I'm 100% out of EOS, I can't see it going anywhere, honestly!
We need those incentives to be powered up. Splinterlands players ought to look into curation. They could get passive income from that even if they are not into blogging. I know not everyone is into the social side. I don't even understand all the financial options, but I'll take advantage of various schemes to get extra income. It mostly gets ploughed back in anyway.
!BEER
You'd hope that SL players would look a little deeper, some of them do, some of them are making whole video series about the game!
I've said that if even 10% get into the social side it will make a difference. I just think the game site does not make that an obvious option. If I have a battle with someone I want to see a link to their blog so I can check it out. They could show if there were some game-related posts.
It is great to add functionalities other than blogging. Blogs will be key to communicate but these other projects make Hive relevant in the broader ecosystem of the crypto space. More power to the devs and users.
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Yes it's nice to have the blogging capacity for sure in the background!
It is a privilege to be able to participate, create content, express thoughts, criticisms and suggestions and therefore receive a bonus, I think you talked about an ATM at the end and it occurred to me that it would be the pinnacle of blockchain to be able to have a link with ATMs. success.
Blockchains and ATMs would be very nice!
It's nice to see indeed. It has been on an uptrend not only against dollar, but Bitcoin too! HIVE bottomed at 300 satoshis in January and is now 1250 satoshis! Let's hope the trend continues!
Very true, although not so much the later as I write this, BTC looking STRONG!
I keep thinking that I need to pick up some more Hive, but then I look at the price knowing it used to be down around $20 and I keep thinking that I really missed a great opportunity back then to stock up on it. I feel quite foolish because as you said, the importance of Hive is only going to continue to grow.
Although other assets have probably grown a lot more in value? And there are much better staking returns on many other tokens too - well, at least in DEFI - I haven't actually BOUGHT any Hive for months now, just haven't sold any either.
Yeah, my stake is pretty small when I look at some other accounts. I just want to set myself up for the long term. I have been moving a lot of my HBD into savings lately.
Totally agree with everything you wrote. The usefulness of Hive will continue to increase in the future because the projects built on it continue to increase in number.
Your post reminded me that I need to start using some pools on TribalDex, thanks
!BEER
!PIZZA
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Those pools are great, I'd like to see more outside of Hive too!
I still remember some were worried about Hive's inflation a few years ago. Having that much locked HIVE just "for the sake of playing Splinterlands" and that fear is no longer a deal.
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And the inflation rate is dropping too of course!
I should consider powering up already
I can recommend it!
I recently came to the realization that I am underinvested in Hive. I'll be powering up what I can afford more reliably in the coming months.
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It's nice to have a stack, but Powered Up Hive is not that profitable, LIQUID HIVE however, pooled with DEC, now that's powerful!
I tend to lease my Hive Power. That's what produces income. If that dries up, we'll go the liquidity route.
Few years ago I was trying to stay away from inflationary projects but this year I realized that the main thing is usability.
I'm inclined to agree, I don't like inflation, but it does help with scaling I guess in a way.
hola si es bien cierto lo que escribiste ya que Hive es cada día mas conocido como criptoactivo al igual que Hive blog, cada día crece mas y mas, existen mas personas interesadas en tener sus fondos en la moneda.
im a player of SPL more power to HIVE!
!PIZZA
Aye! Once upon a time I used to be abreast of everything on Hive, now a lot of things fly over my head. It’s all good.
Hope you’re doing great
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All good here, it's good to check in with the progress once in a while, it can catch you off guard!
Exciting times ahead, with more years to come we will see much more increasing utility of Hive and thus it will become number one community.
Although I can't imagine this space 10 years down the line, I certainly can't imagine things just carrying on as usual!
How did you make the powered by hive image?
I'm not sure where I found it, it was in some old promotional goodies post about Hive many months ago now!
Aaah okay, love it!
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Good that hive year by year have lover inflation.
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