I agree that it's a crypto asset, not a security.

But it's an asset with more uses than any other cryptocurrency.
It offers zero-cost transactions, a significant advantage over other cryptocurrencies.
It allows for the elimination of borders. We can transfer from wallet to wallet simply by having internet access (it doesn't matter where the people are physically located, as long as the sender has internet access and the wallet will complete the transaction). We can send Hive, Swap.hive, or some cryptocurrencies traded in liquidity pools. It can be converted into HP and generate income by voting. It also allows us to communicate. I'm going to say that it has similar characteristics to many blockchains that have a much larger market cap than Hive. There are cryptocurrencies designed for payments or capital movements that break down borders. XLM, XNO. I don't see the point of HBD; the network pays a high cost by paying 15% annual interest. I think it would be more convenient to charge fees for using other stablecoins to add or remove stablecoins from the network, like USDT for example. Inflation doesn't worry me that much. First, because the global crypto market is constantly growing, the majority of people don't own cryptocurrencies and sooner or later they will have to enter the crypto world. We always look The price of Hive in dollars. I think it should be considered that the dollar is also subject to inflation.

Second, I believe that as the world's population grows, the size of the markets will increase.
I think it's more important for the Hive ecosystem to grow. It generates more value.
I'll give you Solana as an example. There are tokens like Jup, Orca, and Meteora. Those tokens have a good market cap. Have any Layer 2 tokens reached the major crypto exchanges in the world?
I don't think Hive's inflation is a problem. I think the problem is that it doesn't attract developments that achieve success in the crypto world, whose tokens end up being listed on major exchanges.