Seems like just a few days ago, we were getting close to $0.40 Hive again... and I was feeling cautiously hopeful that a "Santa Claus Rally" might be in the cards... even if just a small one.
I guess that just wasn't meant to be... as we now find ourselves eyeing $0.28 Hive, instead.
Source: screen shot from Coinmarketcap
Much as I love being part of this community, one of the things I regularly find distressing about Hive isn't so much the general outcries that Hive is "undervalued and underappreciated" as the fact that Hive an extremely "negatively correlated" token, compared to the greater crypto market.
It seems like when Bitcoin declines by 5%, Hive dumps by 15-20%... often considerably more than other alt coins, as well. But when Bitcoin goes up by 5%, Hive seems to lag and either stay flat or perhaps increase by 2-3%... leaving me with the feeling that we are pretty much always lagging the market.
Except, of course, on those occasions when there's a sudden 60% "moonshot," for no tangible reason.
Which leaves me speculating on why Hive has such a negative image.
Sometimes, I can't help but think that it might be because it is — on some level — "average user driven," rather than "technology nerd driven," at least to a greater extent than most blockchain projects.
If it sounds like I am "chasing ghosts," I invite you to cast a glance back towards the early days of the Internet, itself.
The early Internet was very "nerd/developer" driven... and most of those early "drivers" considered America Online — which effectively brought "average person usability" to the Internet — to be the scourge of everything, precisely because it no longer was a closed little "club" for the tech savvy, but a place where mothers started to trade recipes and young girls talked about Beanies and Barbies.
Those early developers hated America Online for (their perception) basically "ruining" their little private toy and playground.
Of course, that didn't really slow down the inevitable, and AOL single-handedly did more for making the Internet a mass market phenomenon than any of the other early service providers.
But pay me no mind! I'm just amusing myself with thoughts about questions we will probably never have the answers to. Although... I suspect there are a fair number of blockchain die-hards who hate Hive for not being all about mining rigs and complicated code.
Personally? I'm glad I get to participate without having to learn a bunch of technology!
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Posted using Proof of Brain