Hey all, I want to comment a bit about the recent post by @taskmaster4450 :
https://hive.blog/hive-167922/@taskmaster4450/what-will-hive-look-like-with-100k-users
This first started as a small reply (I like the discussions in the comments sometimes more than the original post!) but then I started writing and writing and I thought to post it alone. However, if you haven't read it, I suggest you do it now, it is a great thought-provoking piece, as the majority of the posts by Taskmaster.
I just wanted to write a bit more about the Seeking Alpha example and comparison.
Based in Israel, this company had a $7 million B-series round a couple years ago. Usually this kind of investments look for a x100 return as a baseline scenario, and the 7 million went for an undisclosed % of the company (the round was not widely published, just some side info in crunchbase) . If we just throw a number, we can assume this could have went for a 15% of the company, being extremely generous.
This means the investors (DAG Ventures, a fund that also invested in the likes as Glassdoor, Zynga, Yelp or WeWork, all billions -worth companies) expect that SA at some point will go public and will be valued at somewhere in between 4 and 10 Billion USD. Lets say 4 Billion for my little imagination game.
SA is doing about 1 million DAU, while Hive is in about 10,000 DAU. So 4 Billion USD for 1M daily users, while Hive is at 10 times less the valuation with 100 times less users.
This sound like bad news? I don't think so.
First of all, Seeking Alpha is just a financial news company. It handles reports, news, user accounts, portfolio management, etc. It is what it is, no more, no less.
Meanwhile Hive has that covered (in a more scrappy manner, of course) with Leo Finance. And this is just one of more than 10 different successful and alive tribes in the Hive Ecosystem!
Second, the scope of the value for SA is the information and the user engagement. That's it. But Hive is much more, it powers games, defi DAOs, soon media channels like @spk , cross-chain capabilities, and all from a decentralized spirit that makes it more anti-fragile that some company that can be cancelled by governments, media empires or whatnot.
Third, we need to realize that the "blockchain hype" is to blame for a too high valuation at this point. But there is a difference. The guys that value SA at $4B are basically a half dozen of investment funds.
The 400 million USD of Hive come from the valuation, commitment, love and interest of hundreds of thousands of average people around the world. Don't make me choose between one or the other, I know very well were my bets are. ;-)
So, Bottom Line:
I know it sounds like a broken record at this point, but We Are So Early (tm). The transition to 100K DAU could be very well this year, or in 18 months. By then , Hive will not be on the #180 spot in Coingecko, let me tell you. This is not a "To da moon" post. Is just a reflection on how 3-4 years ago hive was just another blockchain project while in 2022 we are already playing and looking at the Big Leagues as an equal. The direction of the society, the winds, are in our favor.
Although growth is nice, I am far less concerned about that, than about having a place I can go to read a wide spectrum of worthwhile content. Also being able to do my little bit to contribute some content.
My only thought is that onboarding should (somehow - I'm not a coder !) be far more automated, to the point where it's as easy to sign up for Hive as it is to sign up for any other social network. Perhaps what is needed is a sign-up button that auto-generates all the assorted keys and wallets and then sends it through as part of an introductory email/knowledgebase article. The learning curve here is pretty steep, and anything which makes it easier to get "normal" users (i.e. those not primarily interested in crypto) on board has to be good.
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Quite agree on that. AFAIK that is in the roadmap for the next 24 months, the easeness of use of a Facebook, and the onboarding of Instagram or Twitch.
WAX blockchain is a good example: You arrive, you log with facebook and you have a cloud wallet instantly. That is neat! And later, if you are more savvy or want to dig deeper in your token sovereignity, you can have a dedicated wallet, etc etc.
It will happen!
The more Hive keeps building and has developers the better. The more use cases means more locked up hive for resources and on top of that more onboarding of users for different applications. There will become a time when hive is an after though and mainly used as a resource credit for new applications launching on the chain. I have a feeling it could happen in the next three years.
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Yes! I think that coders and devs are needed, but also we as users are also a big part of it. There has never been such an horizontal organization like this before, always has been top-down, from closed centralized company to users/customers. This time is different, indeed.
Hive definitely has top 10 crypto potential. The network effect is growing. The key is organic growth.
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Nice chummy, bro! I had 6 of them at one point. I'm down to 2 now that I'm hodling to the moon or to the floor 🦄
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Thanks bro! Chummy's are the most underrated PFP NFTs. I have one from series 1 and one from series 2. Ready for series 3 launch!
I didn't even know there was a series 3 coming! I'll have to set aside some wax.
I'm just sitting on my 2 series 1's now, I figure the original ones will probably be more sought after, even though the newer ones are a bit cooler looking.
I could be wrong though.
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Yep! Series 3 drops on the 25th I think. Yeah, I'm not selling til these bad bois hit bored ape prices.
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Interesting facts noted
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I loved the commitment and love part.
I'm so enjoying Hive.
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It is totally true what you say, Hive is valued by all the thousands of users that make life here, and although it is slower the growth is constant and totally real, it is not something inflated as it happens with those companies.
Maybe in 2 to 5 years we will see how Hive has grown and made an X5 or X10 jump from what it is now.
Posted Using LeoFinance Beta
And I don't even care about the token price anymore! Literally there has been 3 years since I log into any traditional news outlet. I just read Hive, Leo, Publish0x and Twitter. I can buy some Twitter stocks, but I don't like their aggressive narrative control and I know beforehand that any profits will come from ads/spam to users like me. ;-)
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