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RE: HIVE IS WORTH MUCH LESS THAN STEEM ... BITCHES!
Hive doesn’t have a multi millionaire trying to keep his investment afloat. Not that that’s not a bad thing to keep prices up, but he’s got a vendetta because we won’t let him control it.
Hive does have multi-millionaires trying to keep it afloat, though.
I disagree with your argument that Justin is dumping Hive. Look at the powerdown/up data, it reveals that there is not as many people leaving Steem for Hive as the Hive community would have you believe. On the contrary, people are selling their free HIVE bags, likely for Bitcoin.
Combine that data with what is going on at the Steem-engine DEX. The image in this post indicates that on SE-DEX more people are selling HIVE for STEEM than the other way around, so 1 HIVE is going for about 0.62 STEEM. Why is this information more important than info from Bittrex, Poloniex or one of the other larger exchanges? Because Justin and other major whales are very unlikely to use the SE-DEX, since its volume is far too low for them.
Dolphins and below might use SE-DEX because you tend to get better privacy at the cost of lower volume. So, we see that the dumping of HIVE is not from a single entity but rather many people simply not having faith in Hive's future and preferring BTC or another popular currency.
I'm not saying they are really buying STEEM either. The dumpers are mostly choosing to sell both, so the exodus to Hive is really just an exodus, probably to Bitcoin.
I’ll have to look at the SE dex. I’m not buying any coin either way. I’ve purchased enough Steem in the past for my taste, now I will see what will fail and what will continue. I’m enjoying hive but not a religious zealot for it like some are.