Another rough day for Hive as Bitcoin sees another bad day...
It has been a very rough day for Hive. We are seeing a ten percent drop on the day so far, which is very significant considering we were already at around twelve to thirteen cents. What has prompted the sell off, a drop in the price of BTC of course. First off lets have a look at the last 24 hours for HIve:
Hive price for coingecko.com
And the last 24 hours for BTC, only down 3.6% on the day. The good news is that it's holding above that all important psychological wall of $100K. If that gets pierced then all bet are off... But I think it will hold to be honest.
BTC price from coingecko.com
What concerns me is that recently every time we see the price of Hive drop along with BTC, BTC bounces back. Hive doesn't. Less than a month ago we were over eighteen cents on Hive. Then we saw the precipitous drop to fourteen, then to twelve, and now eleven. Is this a healthy trend? Absolutely not, unless you are popping shrooms all day, then you might not care.
As much as I love Hive, I'm beginning to worry about it's very survival. We need to use the DHF funds much more responsibly on activities that truly show a return on investment, i.e. new members joining and staying with our ecosystem. For every dollar given out we should insist on receipts to verify how it is used.
Most of my life I have run my own businesses. There were times that money was flush and others that it was tight. But through it all I had an accountant who would insist on getting a receipt on every dime spent out of the corporate accounts. In retrospect he was a serious pain in the ass at times, but he kept the business free of tax problems through his overly thorough accounting methods. The man is a saint in my eyes now, sadly he has since passed away some time back, but he was a very good man!
My point being we need the same accountability here on Hive. We can't just hand out funds without verification that they are being used properly. If receipts can't be provided then all future funding should be cut off until such time they can verify responsible usage of funds. I want to see Hive survive and I think this may be at least a step in the right direction.
Also, please make sure you are supporting the Return Proposal, as it sets the limit for any project to get funding. Any project with less votes that the Return Proposal is not funded. It's a way we can have say over how the DHF funds are used. So your support is very important on the proposal!
That will do it for my rant of the day. I do hope to see brighter days ahead for Hive, it's such a great chain that is being underutilized. Please feel free to leave any comments or questions below, and as always thank you for all of your support. It's greatly appreciated. Have a great day everyone, tomorrow is Halloween so make sure to get ready!
References:
https://www.coingecko.com/en/coins/hive
https://www.coingecko.com/en/coins/bitcoin
Disclaimer
I am not a financial planner and this isn't financial advice. Please always do your own research before investing your money. You worked hard enough to earn it!
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Oh man, this has to stop now... Such a drop in the price of Hive doesn't help bring new people onto the blockchain because they are insecure. I notice it myself that my motivation for Hive decreases when the price of Hive falls. If only Hive would rise at least as much as Bitcoin and not just fall...
I hear you there! I really am missing those days of 60 cents back at the start of the year. The good old days... Hive still has potential but needs to bring in a lot of new talent, and it's hard to do with prices as low as they are. I'm all in support of any ideas or projects that will help to stabilize and build up the price of Hive, as long as there is fiscal control.
It's a rough day all around it seems. It's better to just drink I think!
Bourbon it is! lol Sipping a little as we speak!
It’s not just recently. Hive was more than twice its current price in 2022 bear low, bitcoin was 15K. It’s unfortunately a much longer term trend. I remember telling people in SGS discord in 2024 alt coins wouldn’t touch 2021 highs ever again for 99.9%. Even the tokens up since 2022 lows, only 3 in top 500 crypto’s touched a new ATH. Bitcoin only one that did still do so inflation adjusted. This is a long term trend change that was signaled and nobody wanted to listen to me.
Hive is indeed moving with lower tier and down a lot. I love Hive community and platform but it’s doomed and price will be a nickel next 18 months. DHF doesn’t just need reorganization, it needs to be nuked and we need to stop printing all together! Reduce it by 90% and only give that 10% left to basic function items. People always say I’m ridiculous saying this but where Hive is going we need to stop bleeding anywhere we can control. People shout “No VC control” but the select few whales who do control it act no differently.
Again I love Hive! But this is nothing compared to where we are going. I’ve been right every turn calling it and I’m not very smart, I just look… !LADY !PIZZA
It certainly has been a rough day in the markets my friend…..🙄
Hopefully this is just a shake out of weak hands!😇
It’s not a weak day unfortunately. Hive is less than half its 2022 bottom when Bitcoin was 15K. Hive is long term bow dumping. There’s things we can change to help this but nobody wants to cut DHF funding. We will be a nickel in the next 18 months. !LADY !PIZZA
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Hopefully if BTC pumps it will also pump Hive!😇👍😊
It's becoming a pattern for Hive, and not a positive one. Hopefully we will see 18 cents again, but not holding my breath...
The fear and greet index is certainly leaning towards fear at the moment!😳
I don’t think I’ve ever seen it this low in price unfortunately……
0.11 is a hard blow. I don't know much about crypto, but I've never seen the Hive this low. A great opportunity to invest with the future in mind. Best regards, my friend.
Vamos a ver que saldra al final. Con suerte se mejora algo, Pero debes votar por el return proposal
!BBH
!LADY
!PIZZA
Unfortunately the people who control the system are the very ones who profit from it staying the way it is. What do they care if Hive falls to 10 cents as long as they are raping the system for hundreds of HBD per day?
Vote the return proposal and tell every single person you talk to on Hive to do the same. With the exception of investing a shit load of money to buy our way to the top (which is unlikely), I see the return proposal as our best bet to gain some control over this situation.
This! ⬆️
it’s amazing to me most people on Hive ignore this fact. !PIZZA !LADY
I always encourage people to vote for the return proposal, but we really need someone with a huge stake to vote it to end the abuse. I don't see that ever though...
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well well, are we gonna go all the way down?
it is so sad to see it in this price for sure. maybe we will be in the sub 10 Cent again?
!PIZZA !LUV !PIMP
We are going way below .10 cents next 18 months. Way way lower. !LADY !PIZZA
It's sad but a very real possibility..
!BBH
!PIZZA
!LOL
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It’s definitely been a rough stretch for Hive lately, and I think you’ve nailed one of the biggest issues, accountability. The DHF is an incredible tool, but like any shared pool of funds, it needs transparency and measurable ROI to stay sustainable. I completely agree that requiring receipts or proof of execution would go a long way in restoring confidence.
The price action is tough to watch, especially when BTC recovers and Hive lags behind, but I still believe the fundamentals of the ecosystem are strong. The tech, the community, and the vision are all still there, we just need to make sure the financial stewardship matches that same level of excellence.
Here’s hoping the next few months bring some stability and renewed momentum.
That financial stewardship really is paramount right now, without that things will not improve. I agree completely!
Maybe, just maybe, we'll be able to see a few improvements and corrections in that so hermetic-closed-doors department starting in December.
Never happening. The powers that be aren’t giving up there slush fund…
You three, trio of heretics... jump and get in the Hive rally car immediately so you can see the future more clearly!!
I earn every day! 😃
But in terms of buying extra , I’ll buy when we are 50% lower in a year or less. Actually I probably won’t because a penny is more likely deter that. But regardless I love hive and trade time & effort and earn HP daily. I’ll stick to that and keep buying bitcoin with my fiat.
!PIZZA
By more transparent, they mean they will buy a second pointless rally car, but this time the car body will be transparent. (Actually it will be a go kart covered with plastic, but they will pretend it's a great rally car and run away with the thousands of HBD they are charging a day)
A nice new transparent rally car this time around... lol!
Haha I nearly spilt my coffee reading this! The powers that be get paid in HBD, what does it matter what the HIVE price is... 100HBD is the same at 10 cent HIVE or 50 cent HIVE
Sad but true, Hive price doesn't mean a damn for them!
This! ⬆️
Another tense day for all of us. Well, for those who believe in the long term, it's another opportunity to buy and accumulate, so all we can do is proceed with caution and believe that everything will work out in the future.
Or we can plan accordingly based on data. Much better than hope! !PIZZA !LADY
Of course, nothing beats good planning! o/
!LOLZ !BBH
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We can hope for the best, but always have a backup plan is what I like to say!
Definitely, divide and conquer!
You have been manual curated and upvoted by @ecency
Thank you!
!BBH
!PIZZA
I still have some hope that Hive will eventually bounce back
Crossing my fingers too!
!BBH
!PIZZA
it is sad to see for Hive to continue go down
Time will tell, hopefully we'll see some guys at the top make the changes necessary to save it!
IF BTC hits $99k then HIVE could well spiral to 5 cents and below. Yet DHF is still a farce. The only thing people should be voting is the return proposal. All expenditure needs to be reset to zero until a new direction is established. Of course they won't do that. They get paid in HBD they don't give a flying fuck what price HIVE is.
It very well could, as long as in hangs onto $100K+ it gives Hive some hope. But below that level all bets are off...
We shall see. Well cancelling VIBES is a good start, now the rally car and stop these people ripping us off!
I think by now even the most clueless person knows that we need to manage the DHF, but somehow no one at the witness level is choosing to address it.
That is the elephant in the room if you will... And they won't stand up to it!
It just pisses me off that a coin like Hive is inevitably tied to Bitcoin. I don't think it's fair. What we have here is much more valuable than a coin that has its own raison d'etre in just being possesed and transferred from a wallet to another and speculating on its movements.
Imagine if Meta or Google had its own coin, tied to their functionality. We have that here and nobody's giving a fuck about that nor knows how to promote it. It's a big shame, for us all. Shame