Why Hive is not growing parabolic

in LeoFinancelast month

I could write a super long post about why. There are some reasons, but if we break it down to the core points, mainly it is the points apps cant onboard masses without pay the fee for Rcs or Hive for onboarding.

It's nothing new, but with more competitors join the market, things will speed up. And really i don't want Hive to become Myspace ( unlikely IMO).

The reason why wallets are "expensive".

The first is spam prevention. If someone can create a wallet for free, he can make thousands. So the wallet generation cost prevents this ( remember is a blockchain, not a local database).

The second would be name squatting, every name can taken one time. So if someone takes all good names, is also bad long-term.

These are the 2 major points, in the end, to protect the chain ( and this is good because nobody wants a broken chain).

But this is also bad for apps, in terms of building a userbase. If we have a cool game on hive, the game never can onboard 20 Million users. And yes on the Internet 20 Million users are not uncommon.

How we can fix it?

  • First Wallet creation fee from 3 Hive to 0,1 Hive. A wallet should never cost more as 10 cents. It's enough spammers don't use it.

Remember, not the Wallet is the selling points, the functions are.

  • Second RC delegations + wallet creation Tokens transfers.

Would Allow many cool things. Support Dapps for onboarding, invite a friend, and so on.

A fee:

The current system punishes onboarding efforts (for years).

It should be more in a rewarding system change, like:

Pay the 0,1 Hive for onboarding and get a lifetime share of transactions/blog rewards or whatever. It can be super low like 0,5% but a lifetime.

Maybe transactions 0,3%. It would IMO onboarding efforts worth it. And if someone doesn't like the fee, easy make a Wallet that's self paid.

In terms of 20 Million user app, the revenue from users can become a business Modell, so the app want to be always super cool because earnings increase with interaction right? IMO it sounds really cool and revolutionary.

Break it down:

Apps need some support. Some are cool on the second layer, others not. It is at some points are pointless to make things more complex as they should be.

A perfect system is you cant replace anything to make it worse and you can't add anything to make it better.

We don't need a perfect system, we need a working system :)

To linear growth rate, if people become inactive + new people are +-0 there is no growth in activity. And that's the value. Also, many people sign up and don't use it often.

Light wallets would allow getting the first touch without any costs, there would be millions in a short period of time, that's cool :).

In terms of exponential grows many dapps would onboard at the same time, things will escalate that quickly we cant change some things anymore. Because of this, we are in a very good spot to fix things like HDB in a professional way.

My favorite Loan system + full replacement of HDB. It is a broken system IMO.

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IMO we just need to get RC pools up and running and figure it out from there. The main problem with Hive onboarding is that when token value spikes it becomes profitable to farm the 10 HP delegations with thousands of bot accounts. That's what happened in 2017 and the entire reason why RCs were created in the first place.

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But RC pools only work with Smts ( for Bloging/curating/using), for games they work perfect. Every user will think " cool platform but my vote is worthless". To get them deeper they need to be able to farm some shitcoins :)

I know tribe tokens are a good start.

With cheaper wallets, a tribe can onboard communities, like chess, computer games, or something else.

Without Rc pools, they can delegate some Hive for use,

With RC pools it would be even better.

I have the opinion cheaper wallets would only benefit hive because 3 Hive are a pretty random number.

Besides the fact a wallet costs money, in general, a lead for a sign-up cost also money. Don't let the Dapps pay twice.

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We need develop and improve things internally or just make a big partnership.

Like how YouTube got bought by Google and like how WhatsApp & Instagram got bought by Facebook. Hive probably need a bigger partnership. Or some new hive investors to shake things around.

Also I saw there is a strong correlation with price and monthly active accounts.


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 last month (edited)

to the partnership, I know forums ( 20k active users +) that would love to use Hive but onboarding + no Smts is like " a lot of work + cost for nothing"

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Can't they do what LeoFinance is doing ?

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I don't think there is a partnership needed. The only thing is needed get the core code to that point people can build here without spending x amount for onboarding.

That's one of the major points people/devs don't like a hive. Special for free tp play stuff with micropayments. Would work well together but the onboarding is meh. With wallet addresses, this should work out.

Professional apps look at what a user in average cost and bring in. Low cost + benefit = superior solution.

Same with Smts, Smart contracts. People and businesses can't wait years to start because they never come. That's why so many apps move away.

Also, an Smt would be binding to the blockchain. To be real Hive is like a start-up blockchain for projects.

Dlive, appics, and so on. There were many. If they had the user's tokens here too, it would be a higher binding to the Chain. That generates Value.

I don't know why nobody cares that points. These is value points for the future. Not 10x or 100x, if it's done well, it can be a backbone of everything.

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Thank you for explaining.

If we don't need partnership then we need new investors who could put a team together with existing hive devs to build the tools that needed to take Hive to the next level.

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