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Hi there everyone, TheRingMaster is back with another awesome blog. It has happened, Hive token broke the 20 cents line and at the time of writing this blog, it's at 0.18 USD, well a little earlier on it was at 0.17 USD.
There are probably people that are a bit scared and would obviously start to buy the dip. The reason I'm so relaxed regardless of what's happening is because I've experienced this before.
A few weeks ago, Hive which was kind of stable at around 0.30 USD dropped and took a nosedive all the way to 0.21 USD. Lots of people started buying the dip and after about a week it jumped back to 0.25 USD. I was pretty surprised how quickly the value could change.
I was pretty lucky to join the @ecency HHH show hosted by a good friend and veteran on Hive @ph1102 and he made a very valid point that brought so much encouragement to me during the previous Hive dip.
He said "Are you trying to accumulate Crypto or FIAT?"
I believe understanding that question will take the fear away from you whenever Hive starts to go down.
@melinda010100 during the previous dip also said it was the best time to engage, post and earn because others would be distracted due to the decline in the value.
I don't know for sure the reason behind this current drop in the value of Hive. However I do see most Cryptocurrencies both Bitcoin and Altcoins plummeting in value and perhaps we could say since Bitcoin is dropping the Alticoins are following suit.
Hive at the moment is the most important crypto in my life so I pay attention to its value a lot, as do most Hivers.
I believe in a time like this, it's very important to bear in mind that what matters most is accumulating more tokens rather than getting too much concerned with the short-term price
movements especially for those who are involved in blockchain ecosystem like myself.
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Understanding Hive
I think if we understand the Hive Ecosystem really well, we won't get to worked up about its value.
The blockchain of Hive is decentralized and designed for different types of applications including social media platforms, financial services, or gaming. Hive has got strong communities such as Ecency and InLeo
This also includes games like Splinterlands
, Rising Star and Holozing which are all built on the same Blockchain platform.
The basic technology underlying it is – delegated Proof-of-Stake (DPOS) which enables quick transaction processing and community governance.
The thing about Hive's ecosystem is that it depends on user participation and contribution. It's not just a trading asset like lots of other Altcoins and Meme coins.
So it's able to provide an active base where content creators, curators and developers can directly engage with everyone else.
This is to say that as long as the community of Hive is strong and value comes from engagement, the token itself has a bright future. This is why, times like these where the Hive value drops is the best time to engage even more. As we keep publishing quality content, commenting, curating, powering up Hives and contributing to building stronger communities in the chain, the value will definitely perform better.
My only advice would be the same as the advice of Melinda and PH, keep engaging, hang in there and focus on Accumulating higher numbers of Hive tokens while paying less attention to the value except when you want to trade with it.
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Why HODL Hive?
I think for anyone on Hive to succeed it's a must to think long-term. Mostly short term thinkers are the ones that get troubled with the value of the tokens. Well it's not only short-term thinkers, it's understandable that some people depend on earnings to pay for certain necessities. However I'm a big believer in the long-term potential of this platform.
That mindset keeps me going regardless of the current value of Hive. Cryptocurrencies like Hive tokens are usually volatile in the short term. However, focusing on accumulating more of them can reap benefits over time as the blockchain community continues to develop itself. We see lots of work and updates being done in various Hive communities, Hive based games and other dApp The moment you change your mindset and see that huge potential of Web 3.0 and Hive in the future, you'll be less stressed about current dips.
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A Stronger Community
Hive has its power in numbers and I believe that should be the primary focus of every community, to grow in both creators and curators.
If users keep participating actively in content creation, development of apps, and governance then the blockchain industry will remain strong. Communities can encourage more users to share quality content and also to build their HP That's why I love the Hive Power Up Days, HPUD although I never get to do it because I'm powering up on a daily basis, hehehe.
As we see more curators and content creators we'll grow the community and the value of its tokens. Also, we need to create a favorable environment for Newcomers. Perhaps stronger Newcomers community to constantly teach newcomers the way and rules of the platform. Onboarding and helping the people find their feet is the best thing for each community to focus on.
I was lucky to meet a lot of friends from the very beginning that inspired me to keep moving forward and now I'm getting good at being a Hiver. I've been through the good and bad on Hive and I'm still here and happy.
The Usefulness of The Token and Applications
Within this particular ecosystem, Hive tokens have a role to play as means of payment and incentives for both content creators and curators. We need to focus on doing anything that would increase the demand for the Hive token. So as more Hive dApps and services are run on the Blockchain, there could be an increased demand for the tokens which would help drive the prices up.
So it's really more about the community itself getting better, the Apps connected to Hive getting better, the content creators sharing quality or valuable posts and the curators engaging.
Preserving Focus
I really believe that for us to be able to successfully keep the Hive community on track, it is important that we focus on the actual strength of blockchains and not the temporary price changes.
Like I stated earlier on, Hive Tokens are not exactly like other Alticoins or Meme coins so the worth of Hive is not entirely dictated by speculations from the market . The token's usefulness within the blockchain ecosystem has a very big role to play in determining its future value.
Also the programmers, developers and the content creators like myself need to continue with the work of developing and adding value to the Hive ecosystem. It’s an ongoing process necessary for making the community stronger as well as enhancing the Hive tokens ultimate value proposition.
In the end, the short term movements of Hive token prices may be influenced by external forces like what happened previously on Hive with Korea but what really counts most are underlying dynamics of the blockchain itself and its sustained engagement with society. In other words, let's focus on making Hive more valuable to the world and the world will come to Hive.
Thank you so much for taking the time to read this blog. I would leave you with this thought friends;
Always remember that building a decentralized future together is something done as a group.
Posted Using InLeo Alpha
