People have had different opinions about cryptocurrency since its inception. Some people are attracted by the whole crypto concept and its underlying technology, but they are skeptical about its investment. Others, on the other hand, have long viewed cryptocurrency as a threat to central banks and have been vocal in their criticism and opposition.
There are also those who have not completely understood crypto, learned about its real-world positive impacts and about social finance. Hive is an amazing blockchain full of great potentials and being a blockchain and an ecosystem powered by crypto, it will undoubtedly face the myth sorrounding cryptocurrency.
In most of my engagements with people and communities I have often been confronted with questions about Hive and taken time to addressed them. In this blog post I would highlight on four concerns that people have raised regarding Hive.
A Get Rich Quick Scheme
Many people have not heard good news regarding most online-based businesses, some of which have seen users fall prey to fraud or ponzi schemes. We should anticipate that these people would always view any crypto-related businesses as scams. If you have ever introduced Hive to someone, you have probably been asked about its credibility.
Those who are interested in learning about and joining Hive will definitely want to know if Hive is legit. For some, it may simply be one of the numerous get-rich-quick schemes that lure people in with promises of wealth but subsequently turn to be a fraud.
After years of outstanding performance, it is clear that Hive has a great potential. Get rich quick schemes never work in the same way as Hive, which does not give away free money or ask for any upfront investments from new users. Users are rewarded for their participation and active engagement.
Rewarding Users and Funding Projects
While reaching out to communities with the Hive empowering communities project, a concern has arisen about how Hive obtains funds to sponsor projects and reward users that actively participate in the Hive ecosystem.
For those who have had such concerns: Newly minted Hive tokens are gathered and added to the community's "reward pool". Based on votes, these tokens are utilized to reward users' engagement and contribution. while initiatives or projects are sponsored through the decentralized Hive Fund (DHF). The Hive Whitepaper gives the detailed analysis.
But for the benefit of new users who might find the details of this incomprehensible, explaining the idea of decentralization to them would help them comprehend the overall rationale behind how the Hive ecosystem works. In contrast to typical web 2.0 centralized social media like Facebook, Twitter, etc., Hive is a decentralized web 3 ecosystem.
Most centralized media platforms harvest value from their users' assets and use them for the benefit of their shareholders, whereas Hive believes that users are important stakeholders who should be rewarded for their attention and contributions. Users earn rewards as a result of the value they also contribute to Hive.
Hive As A Complex Ecosystem
In my interactions with the people I have introduced to Hive, I always work to simplify a lot of concepts for their understanding in order to dispel the myth that Hive is a complicated ecosystem reserved for serious thinkers, professional writers, and crypto experts.
As much as this might appear to be the same thing to many people, it might be something entirely different for those who are already familiar with the Hive ecosystem. Of course, there is a lot going on in the Hive world; there are myriad of dapps built by the community, various terminologies, and many things that a novice may need to understand to be familiar with the ecosystem.
To many who have considered Hive to be a highly complex ecosystem, my opinion has been that, becoming an active member of the Hive community is what makes the difference, and dedication to learning about this entire "complex world" of Hive is what makes you unravel so much in such a short period of time. Learning, consistency, and dedication are more important if it's about Hive. I always tell newcomers that I'm still exploring the world of Hive.
A Risky Investment
Those who are have been skeptical about crypto will always perceive any crypto based business to be a risky venture.Even though anybody may sign up for free and Hive will never require any initial investment to get started, some people may still percieve it as a nine-day wonder; they are those who always miss out on fantastic opportunities, even if they are presented in front of them.
But for potential investors, it's crucial for to share the kind of information that can enable them to know about the benefits of Hive investment so they can distinguish fact from fiction. Cryptocurrency investments carry risk, just like traditional investments do. Prospective investors need to understand that the crypto market is volatile, with prices changing frequently.
Crypto is considered widely as volatile, however, the risk of volatility might result in substantial gains. But because Hive is a low risk investment, it has an edge over other available investment alternatives. For individuals who would be interested in trade analysis, this is where the statistics—like the one I recently read from would Investors Observer Resesrch. Hive does not give false impression and does compel anyone to invest. I have told people to always do their own research about Hive even after I have shared with them what I know.
In every interaction with individuals who might be learning about Hive for the first time, it is always important to take the best approach to providing a well-meaning explanation that could help clarify most aspects of the Hive ecosystem. I firmly believe in learning as an excellent approach to stay current on information that is essential for educating others about the hive ecosystem.
As we continue to learn, the comments you leave and the updates you make will be very helpful to me. Thanks a lot.
