Today, I applied System Thinking, albeit pretty superficial, to understand the future of the Hive ecosystem.
My conclusion is that what @taskmaster4450 and the rest had always advocated, i.e. keep posting, curating, and commenting, is right, if we want Hive to flourish.
Posting and curating by us Hivers is the single most important cause to building a stable Hive ecosystem that helps us build and retain wealth through it.
The figure above is a simple causal loop diagramme. Let me take you through it.
The Price of Hive, as we know is the result of influx of fiat into the ecosystem, i.e. new money that comes into Hive will push up the Hive prices.
When the Hive price is high, what happens? The payout value for an upvote is worth more. Those who were around when Hive was $3 would know how insane that was!
In such a bull market, or when one perceives that writing posts and upvoting would yield more substantial rewards, more people will write and curate on the blockchain.
This is exactly what Hive needs: more people to post/curate.
The result of that, I think, would lead to the reputation of Hive being a place that is attractive as a Web 3 social media platform. We need to let the network effect grow to the point that (1) people come to Hive to get their info and news, and (2) they too contribute.
People need to know Hive to the extent they know about Facebook, Tiktok, and Instagram.
With that, we can expect more people will pour more investment into Hive. And then the reinforcing effect will follow.
So, my conclusion is that, we need to fix the green part in the diagramme, i.e. posting and curating, because that is the only thing within our control.
In my opinion, we need to encourage quality posts by giving them the well-deserved upvotes, and hopefully that encourages people to write high quality posts. This is really important as the last thing new users want is to comb through thousands of posts to find what they are looking for. This alone, I think is the bugbear for most would be Hivers. Coupled with the complicated policies and rules that underpin the Hive blockchain one has to grapple with, Hive isn't as user-friendly as we think.
If you are interested in seeing the causal loop diagramme in action, you can check out here.
If you have other ideas to refine the model, I will be happy to hear about them.
P/S: This is not financial advice, and please do your own due diligence before investing.
If you read this far... and if you are a like-minded Hiver who is on the path to learning more about Hive and crypto investing, and if you like to be tagged when I write such posts, I welcome you to leave a comment below and let me know. We can form an alliance to support each other's growth.
You might be interested in this post, @jacoalberts and @youngkedar98!
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