The Currency Doom Loop

Hey, it has been a while and I've stayed away from Hive because it just wasn't as fun anymore with the downvotes flying around. And I see that the price of Hive has gone down the gutter. Not a surprise there because what you have here is pretty much the same thing you see in failed countries all around the world.

No incentive for anyone to hold

In third world countries, you don't hold on to the local currency for long because it is just going to lose its value quickly. The rich who get more of it will quickly turn it into gold bars, Swiss Francs or US Dollars. So, only an idiot will continue to hold on to the currency.

Can it turn around?

It is very unlikely and there are only about 4 occurances in history where a weak currency became strong. The last one being the British pound in 1992 stabilizing and becoming strong till '08. You would need the people who get the most of the currency not to run and sell it. Then, you'd need to build a strong middle class around it if you want to make it sustainable.

Anyway, wishing you the best. I'll still root for you!