RE: LeoThread 2025-06-30 17:58
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Its interesting to go around in different Discord in Hive communities. Sometimes you find people that might think similar to yourself.
I really want Inleo to be something that can succeed from Hive.
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Hive has survived the lowest of bears. It's okay to feel like this sometimes. But I strongly feel this period will pass.
I guess the person was talking about Hive as a platform not the HIVE coin.
Might also mean how we define survived. We have constantly been in a downstream for years..
It survived, sure, but it didn't thrive at all after the fact, in way of price action, or in the community building. My e-commerce business, Hivelist, which opened in May 2020, hasn't seen a sale since late 2022 because people want to see things like that being developed, but don't want to support more than an 'atta-boy'. @jongolson knows what I am talking about with this.
But I sell stuff all the time on sites like XMRBazzar and Monero Market because that community actually support the circular economy instead of just leeching rewards and dumping for fiat. So I am powering down and going where I am better treated.
What do you is responsible for the lack of patronage? It is important to identify the factor beyond sentiments. Do you sell what people actually want? If yes, woukd anyone avoid patronizing you?
We don't sell much now because people stopped buying. But we had a bunch of different things that we sourced from community feedback, including stuff from other vendors because we started off as a multivendor marketplace for the Hive community. It was starting to build until 2 things happened. The first problem came when the implemented the HBD savings APR. People stopped spending it. That and the 2022 market crash didn't help. The altcoin side of the industry has never really recovered. The problem now is the 'number go up' mentality so people don't actually want to use crypto as a currency anymore. Now it's a lack of motivation because I would only be marketing to like 100 people, lol, if that.
Perhaps your business model isn't just compatible with Hive, especially when you consider that things can change rapidly based on consensus.
It was perfectly compatible, especially considering we have a native stablecoin to use in e-commerce. And not to be rude or offensive, but another huge problem is the user base that has onboarded in the last couple of years are all from 'developing' countries, so that has a ton to do with it as well. The whole post to earn thing brings in people with no capital in hopes of getting rich by blogging. It's also a reason that the token price sucks. Nobody is buying it, only trying to come and earn and sell. The marketcap of the token alone speaks volumes, or lack of volume I should say. So it's rough to sell consumer goods and community merchandise to a global audience that is mostly looking to sell their tokens for food and survival. Being in the US, I have certain margins I have to make and people from other countries just can't afford to pay those margins. Is what it is.
I think we are taking the easier way out by blaming users from developing countries. Most of them are low earners, and they do so by contributing content to the chain. Go to trending, see the big earners, and check what they do with their earnings.
I absolutely can blame a bunch of it on that. People from developing countries are what is making up most of the active community lately and they aren't the ones who spend any money to support these types of businesses, it's just a fact. Hell, Nigeria makes up most of the active user base on Inleo.
The point is, I actually DO have a decent amount of sales on other crypto e-commerce platforms like XMRBazzar and Monero Market, because that is a community that actually believes in building a circular economy around a private currency. So, I am taking my business and money where it is treated better. It's pretty much as simple as that.
I'm a Nigerian and all I've done on Inleo is to buy and stake the token. I've never cashed out a dime. In fact, I bought Leo when it was $1.lol
Perhaps if you sell what folks from 3rd world countries need, you will get oatronage from them.
I mean, you wouldn't expect me to buy what i dont need just for the sake of "i want to support" businesses on hive.
There are businesses in the 3rd world owned by people in developed world making huge money every day.
That's fair enough. As an American, I don't know what you would need or would buy from a US based business. It's just an economic and cultural difference.
The first couple of years, it was a lot of US, Canadian, and European folks that were buying from us. Mostly Hive and Hive community merchandise like shirts, hats, stickers, etc. Then other Hive members sold their artwork, used items like you would see on eBay, etc.
Again, everything changed in 2022 with the market crash. Most of those people that supported the effort in the beginning are no longer active. I mean, I couldn't even get the community to use the classifieds properly. People just started abusing the tags to earn tokens then dumped the tokens. That's just the crypto way these days. So again, is what it is. It worked until it didn't, so I have been using my energy elsewhere and it's starting to pay off.
Everyone on hive wants money, goals just differ. While some are looking for retirement funds, some want their next meal. We all complement each other. You won't cash out until 1 hive = $10 while 1 hive = 0.2 dollar is okay for some.
The DHF? Do you know how much is withdrawn from the DHF daily? What do we have to show for it? You don't think that's a major problem?
you obviously don’t know how the DHF works. It’s not decentralized at all. It’s a slush fund for the whales to vote on each others stuff that never actually progresses on any actual development. If you aren’t apart of the club, you aren’t getting any of the DHF funds.
it'll never thrive because of the whales on top. they have set things up so that they always have the last say in any type of governance.
the lie is that it's decentralized. such amazing tech but the powers that be have controlled it since day one. their game plan is clear as day, they make a killing off it, support what they want, and the rest of the community fights for scraps while drinking the decentralized kool aid.
it[s an absolute cash cow for those that got in early, ninja mined and controlled the narrative.
This is what happens with proof of stake, especially delegated proof of stake. It's happened on every single one of these chains from Hive to the Cosmos ecosystem. It opens up nothing but corruption. At least with proof of work coins, there is an actual infrastructure behind it that doesn't give a crap about someone's popularity or social status as does these other chains.
LEO is now on Arbitrum
INLEO is a web3 app and can in theory run on any chain that can store our data
As long as Hive blocks keep moving, we’ll keep storing our data on it
But the LEO project has spread and evolved beyond it
This is why I am slowly and quietly powering down and out. I am done for the most part with social media in general. Wanted to keep Hive going, but this person is right, it's a sinking ship that has been slowly sinking since 2021.
Yeah unfortunately I have the same feeling. But at the same time, Hive has some amazing tech and ideas behind it.
Yeah, but the people with these ideas can't survive on 'atta-boy's. We need people to actually use and support the development. Like I said in a different comment, my Hivelist e-commerce project hasn't had a sale since late 2022 because people are too cheap to support and just want to dump their tokens for fiat or wait for 'number go up'.
The tech is good and all, but is very centralized (and I will argue this fact until I am blue in the face as someone who has ran infra for this chain) and will never go forward because of the whale gate-keepers at the top. They want you to think it's decentralized, but nope, its a small club of big whales and we aren't in it!
Agree, either a group of users need to campaign and gather enough support to change this place or it wont
The problem again is proof of stake. The ones that want to see change, even collectively, don't have the stake to go against the few with the majority of it.
See with Bitcoin, it doesn't matter who has the most coins. The nodes and miners run the chain. But with Hive and other DPoS chains, the ones with the most stake and delegated stake do make the rules and run the chain.
I only started leaning into PoS chains when I moved into my van and stopped mining in 2019/2020. But now I am back in the mining game, I am leaning back into those chains more and more and out of proof of shit, I mean stake chains, lol.