Hive managed to get mentioned in the NY Post in an article about Bluesky and alternatives to Twitter. Well kind of.
We are mostly likely dealing with a situation where they are referring to something else but we will take it. Since it didn't specify, Hive can claim ownership.
Here is the headline that we are dealing with.
Anyone who followed the industry with any focus knows what Dorsey is all about. Nevertheless, it does emphasize there are alternatives to Twitter out there. The reality is that, when it comes to information, we are seeing alternatives popping up all over the place. Fortunately, Hive is putting itself at the center of this.
As for the quote, here is what was written in that article:
Those tired of the billionaire’s antics, including mass layoffs and blue checkmark removals, turned to other options like Mastodon and Hive — and now Bluesky.
It doesn't exactly operate as a referral for the Hive ecosystem but nevertheless, we can spin it that way. After all, the confusion associated with the name can now work to our advantage.
The Value of Building
The idea of replacing Twitter is just a smidgeon of what is taking place with Hive. Actually, we are more aware of what Elon Musk is trying to do with Twitter than most who are writing articles about it. Understanding the eventual merging between social media and finance is a huge step in grasping where things are going.
Is Hive turning into an ecosystem that is offering a wide range of social media applications? Certainly that is true. Yet there is so much more.
Web 3.0 has enormous potential. Hive is already blending social media and finance in ways Dorsey is still dreaming about (Musk too for that matter). Elon wants to make Twitter a payment service, similar to PayPal. Hive already does that.
Here is a screen shot of the YouTube feed on the latest Cryptomaniac broadcast.
For a show that gets maybe 100 views, this is a tremendous jump. It appears the events taking place in Sucre, Venezuela surrounding Hive is of great interest to many people..
This would make sense since it is becoming the model for real world HBD adoption. Those people are starting to benefit from the blending of social media and finance.
While other entities are developing social media platforms, Hive is building an economy. The latter takes a great deal more time.
Long Term Focus
The Internet was not built in a day.
This is a concept that most fail to keep in mind. Development takes time. Look back at early projects and the number of years it took. We know the early days of the Internet, say the 1990s, were a mess. There was a time when Compuserve and AOL were the dominant players.
In other words, there is going to be a lot of transitioning over the next 5 years. We are getting to a point with technology where people are starting to offer services. No longer are we simply dealing with the idea of getting an asset that might skyrocket in price. While that is still a part of the system, there is a lot more to it.
Any developer will tell you that when things go live, that is when the extermination begins. All the testing in the world cannot replicate what happens under loads when something is released into the wild. That is why patches are created and updates rolled out.
I look at Hive as the turtle versus the hare. We all know how that story ended.
Each day, we notice progress on Hive. Certainly other ecosystems are experiencing the same. However, Hive is changing lives and reaching people at a grassroots level. This is not being driven by Wall Street or Silicon Valley venture capital money. Instead, we are looking at a decentralized platform that is moving in many different directions.
The benefit of this is that, over time, they begin to start merging together. It is at that point where applications are able to leverage the existing user base for greater gain.
Apple was able to pull in nearly $1 billion into its new savings programs in just 4 days. This is paying 4.15% APR. This shows how large the market is for yield.
Of course, we know that Hive offers 20% APR when people put HBD into savings. While it might not attract a billion dollars or more, it will keep pulling in millions over time. Do not be surprised to see that reach $100 million in the next year if the bull market returns.
In Conclusion
While the NY Post might not know what the Hive blockchain or ecosystem is, they will at some point down the road. The tortoise appears to be moving along slowing, very measured with each step. Advancement is a grind as the faculties are not there for rapid progress. Nevertheless, each move is forward.
There is a lot of talk about central bank digital currencies (CBDC) these days. What is overlooked is the main market they are targeting, the unbanked, is already seeing Hive have an impact.
We will see how quickly word spreads. Yet, if Sucre, Venezuela is any indication, it will be quick. The numbers there keep growing.
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