I spoke last week about the new meme coin Osaka which turns out is very similar to a one Shiba Inu which was the brain child of a dev called Ryoshi. Shiba Inu was an experiment in decentralization to see what would happen if no person or group controlled the supply of a token. Ryoshi himself famously owned no Shiba Inu whatsoever. Now carrying on from Shiba is another mysterious character called Mephisto (maybe a close relative to Ryoshi or maybe not but they use the same font) who came up with the The Osaka Protocol and carried things on from Shiba Ino. Anyone who holds this token are known as "Devs". The reason for this is that the mission of the token is to have its stakeholders take control of their own destiny. If you own 1% of the supply then you have 1% responsibility for the project. This work together attitude is causing crypto to take notice of this token and there is a good chance that we are looking at the next big success story. Osaka wants people to invest between $50 - $500 because having many bag holders is far better than a few holding onto the supply as is seen in many of the early adapter tokens. The same can be said around Hive. A few control the majority of the supply.
I was on Twitter or X yesterday and there is an ongoing argument in the Splinterlands community around getting SPS listed with a Centralised Exchange and whether or not the DAO should pay the substantial fee to list SPS on their exchange. Personally its a no brainer and I would question the motives of anyone that is against the idea. There is a certain criteria to list on Binance and Coinbase and significant funding to do this so there is a big debate on Discord whether to take the risk or not. If we don't take the risk then the reasoning is that we will not take advantage of this bull market and market volume at the moment is everything in crypto. There are tokens with millions in volume that are not even a project yet and then there is this token SPS which has an end use, the game is fully playable but yet we are in limbo land with user sign up and exposure.
Due to Hive being decentralised things move at a slower pace as there is no real pressure on anyone to finish things quicker. If anything the DHF fund has made developers go a bit slower as they can always renew their funding if they need more time. If you look at the construction industry. A builders wet dream is to be constructing the same building for 10 years without any deadlines and not having to worry when the next job will be. So a go slow suits everyone involved as long as they are still being paid every week. We see small improvements here and there in the UI/UX of site but it is safe to say it is the private third party Dapps that are making the improvements on the front end like Leo and Splinterlands that are more privately owned companies that there is pressure on to get things over the line. I always find we are waiting for something, some big inflow of users to take Hive to the next level. However this has not arrived. If it was going to arrive it would have happened during the pandemic but it has not happened. We reached $3 once in 2021 but this is 2023 where the likes of the SOL blockchain has reached $100 per token. This coin was dead in the water a year ago. Ronin just hit $4 today and its been around a 6 months. I mentioned in a post last week that we are using web3 as a hook to attract people but I feel Hive is only quasi web3 and the infrastructure is not built yet to properly call ourselves a web3 token. Crypto has moved on since the Steem years but Hive doesn't look like it has and I fear for it. As with many crypto token , fraud and greed has take over. We are going nowhere really. We post , get some meagre rewards for the effort and soon we will be slowly left behind with worthless tokens. Some time ago I thought Hive was carrying Splinterlands but I feel nowadays its actually the opposite. Hive is actually holding Splinterlands back. A post from a guy in Discord really hit home to me and pointed out a few home truths which did not go down well with some in the Hive Community. I get it , some people really really love Hive and will defend it no matter what but I could not help reading this and thinking this guy is right. I hope Nick Plays Crypto doesn't mind me posting this. I am taking it from Goldmatters Twitter feed so it is not a revelation as many people have seen this by now.
Some of the things mentioned were new to me. Such as the EVM (Ethereum Virtual Machine) and the smart contracts promise. Then when he mentions that Hive is not listed on Defi Llama was news to me. Anybody who is anybody is listed there.
He mentions at the end of his article that Hive is on Binance and has been up 50% in 30 days with 4.5 million 24 hour volume with no marketing. Yep I agree with him there . No Marketing but yet there has been millions of HBD spent on marketing (mainly in Venezuela for some reason) which has not proven to bring anybody to the platform.
When Splinterlands start developing their validator nodes it will mean that they can go onto their own blockchain and this is getting closer and closer by the month and it will be sometime in the future that this happens which will cause Hive to lose alot of traffic. Alorra lorra traffic. Are we going down the road of becoming just another Whaleshares, Blurt or one of these platforms where the tokens are worthless.
Splinterlands recently appointed Clayboyn to manage the DAO which some thought was a questionable move for a decentralized system but it is really working well and he has his fingers on the pulse. He works hard to put through valid proposals to the community and then the community have its say on the matter which I find great. A bit like a politican in an election. The people have spoken kind of thing. Just because we are decentralized does not mean that we cannot employ somebody to organise things. So how come this was never discussed in the parent blockchain. Someone who can keep an eye on the DHF and ensure that people are fulfilling deadlines to get projects over the line to improve the blockchain whether it is a marketing or operational point of view. Giving a quarter of a million HBD to the street workout community who have less than 1000 signups in their respective community is a shocking misuse of marketing funds. Buying a rally car is a bold step even for an established brand but for an unknown brand its just throwing money down the drain. Take crypto.com for example sponsoring a formula 1 car. The difference is that Crypto.com is an established exchange and also they don't buy the car for the team unlike what Hive did.
I imagine many on Hive are thinking right now is it time to power down and buy something nice out of my hard earned rewards before we head south. If you are clever and Hive hits $3 this cycle then you would be mad not to transfer it to HBD or take some element of rewards. What's the end game here for you? If Hive is ever going to go to $3 again then now is the time in this bull run so best liquify it and wait for the price rise. Makes good business sense. Modern crypto traders would scoff at 2% for staking HP. But we have a great community you say? But do we really? Watching well known names take DHF funds and immediately put into HBD savings. Watching the majority of payouts from the Hive marketing arm called Valueplan to one or two accounts. Watching the Genesis League moderators screw their own token in an orchestrated move.
Sometimes I look at the guys taking out of this community and ask myself , who are the fucking idiots here? Would we be any worse off if Ned ran the show in a more centralized way with a roadmap? Has Hive a roadmap? Oh I forgot we are decentralized and web3 and the future as someone spouting on Twitter. We are in fact none of these. A cat is more decentralized than Hive is. We are 4 years in now lads. I think its time to start questioning more in order for Hive to survive like the way Osaka is run. If there are 5 wallets controlling 50% of the Hive supply then they need to have 50% of the responsibility and a detailed roadmap in place for where we are going. Hive is becoming the experiment which proves that decentralized systems do not work.