Don't you think the RC will be the reason in future for buying Hive? Let's say we onboard 100k users through projectblank , they get addicted and then they will have to buy Hive (to maintain the RC ) which will add more buying pressure for Hive? Will that allow Hive to surpass LEO price?
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What's RC?
RC means resource credits,with the RC you will be able to write comments,create posts and upvote posts,the more RC you have the more you will be able to engage in those activities which i mentioned....@ceestitches
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RC stands for Resource Credits . It is required for everything that you do on Hive blockchain , if you want to post , comment , vote etc it takes RC .
How do you increase them ? by staking Hive ( or in other words power up your Hive ) . The more Hive power you have the more RC you get and hence the more transactions that you can perform on Hive .
Where can you see your RC ? - https://hiveblocks.com/@ceestitches
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Great way to point to a useful tool.
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Oh thank you for making me understand this one
It's all right . Feel free to ask more questions . The more you ask , the more you learn , don't just be a bystander.
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That is going to be the main driver of the value of HIVE. Price of course can do its own thing.
RCs are how people are allowed to operate on the blockchain. Anything that is tied to the chain and done requires RCs. Thus, if there are 100K on blank, then yes that will require a ton of RCs.
The question is how long to 100K users? Hive is not designed to add a ton of users very quickly. I guess there are ways to alter this but it is slow. I think Leofinance has about 15K accounts it can use to sign people up. After that, it is tough.
Claiming accounts is slow. So we will see how it goes.
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Yea it's tough and I believe Rishi said the faucet doesn't have enough HP to supplement users if it happened either. I think there will be way too many new users complaining and our retention rate will drop.
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It is going to be tough to gear it up to higher levels if there arent the accounts.
The RCs can be helped by applications buying more HP.
That is one way to solve it and also the demand side of HIVE.
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I think the problem is you can only delegate out your own HP. Would applications like LeoFinance need to essentially pay for Dleases to get HP for people when they run out? So either way you got more people competing for HIVE and jacking up prices.
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@taskmaster4450le i believe what leofinance needs right now is to just engage in wonderful projects like the projectblank,what they need is more engagements that will bring more visitors who can then sign up on the platform...
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It would require way too many users to be added at a single time. Honestly if this happened, I think we would have too many people complaining about HIVE and it would be detrimental to the block chain. Imagine what would happen if people were complaining about the fact you needed to spend at least $20 to be active on HIVE? Or if this number jumped to $100?
Not to mention the people who would power down just to take advantage of the price jump then pop back in later when things settle.
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Oh yes that definitely can happen . That is what is the biggest problem Hive is facing right now according to me .
We boast of being feeless but in order to maintain that we have to figure out a way for RC problem .
I still believe RC trading can be profitable in this case . Dapps can buy RC or rent RC from users to use it on their users . It will be another source of income for Hivers .
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