Hive price got to $0.0404 but I hope that's not coming from HTTP 404 Page Not Found
As I woke up this morning I went on HivePulse app to check my activity and stats on the Hive blockchain. And the first thing that I am looking when opening the app is the Hive price. And it seems that the decline continues and as of today we got to a new All Time Low in the form of $0.0404. And by looking at it and while being an IT guy, I could not think to the fact that the Hive price value is also a value for a HTTP CODE when browsing the Internet: 404. The HTTP status code 404 means "Page Not Found", translating to the fact that the request you sent was received by the server, but it could not find the page you were looking for. And I feel like that about the level that the Hive price got to 😁😆😁😆
Couldn't but joke about it as without some humor, I believe that many of us from the Hive ecosystem might lose motivation. I still hope that Hive will find its footing one way or another, but for now it seems to continue its slide down. What's draining it so much, I don't know, but I wonder if the guilty party is the reduced activity or maybe there is something more to it. One article that I read dew days ago brought the idea of freezing the HBD issuance and switch completely and solely to HIVE. Maybe that's a good idea, but I am not sure what that would mean and how that can be achieved. But at least that's an idea.
But for today, I just wanted to look at everything that happens around with more humor and simply make fun out of the trouble we are in. I see project still being developed here, so the hope is not dead but I feel that only some dark humor can get us past these times.
So NO, HIVE doesn't get 404 HTTP PAGE NOT FOUND, but it's price looks like doing so. Let's see what other HTTP Response Codes we might experience through the Hive price and I hope we don't get down to 200 HTTP CODE ($0.0200) which represents a successful response status code and indicates that a request has succeeded. Joke, but no joke, it is were we are finding ourselves today.
Honestly, it really hurts to see Hive at this price. 😔
There should be someone who can stop this dumping and take some positive action. But honestly, this is beyond my understanding.
Good thing the 404 error was just a joke 😂 Otherwise, I would have really panicked...Hahaha.
As for the idea, I also think it’s a good one. But before implementing it, I think Hive needs some kind of burning mechanism so that its supply can be limited. Otherwise, if Hive keeps being printed without any limit, demand will continue to decline over time..
The effort of keeping HBD stable maybe it's too much for Hive in bear markets. This question was also addressed in Splinterlands about their DEC stable. Maybe there is more to it and keeping both assets is not worth economically for the health of an ecosystem. Or at least not in bearish times where there is low activity.
In any case, this still is not a permanent solution.
Temporarily, once the HBD supply is exhausted, it may provide some relief to the price of #Hive but in the long term, Hive could struggle again.
The best solution would be for Hive to have some kind of burning mechanism that helps increase demand for Hive and reduces its supply. And since Hive is already quite popular in the gaming sector, there should definitely be more focus on expanding and strengthening that sector as well...
404 HIVE not found. 😂🫣