Not sure I can share anything meaningful without it turning into a dissertation, but let me see if I can cook up an *"elevator speech"* version!

Part the 1st: Steem/Steemit has major support in the Korean market; specifically centralized exchanges in Korea and Asia, in general. It was a demographic that was largely cut *out* of Hive as a result of the fork. Tons of content on Steemit is published in Korean. And Chinese. On any given day, the trading volume of Steem is about 2-3x the trading volume of Hive.

Part the 2nd: *"Decentralization"* is not something that *matters* to most people, especially general content creators. So we're basically proud of something that's actually *very niche,* as far as the greater world is concerned.

Part the 3rd: Hive seems to increasingly be heading down the road of becoming a *"utility token."* That is, it gradually becomes less about *Hive* and more about *stuff ON Hive.* Utility tokens aren't that "sexy." Unless Hive can scale up towards being another Ethereum, or BNB, or Tron *(Yes, I just said Tron)* that have huge numbers of dApps running, I doubt the price will move very much.

Part the 4th: My impression is that Steem/Steemit runs on a fair bit of *hopium* now. Justin Sun and the Tron Foundation have all but *entirely divested themselves* of their interest in the Steem blockchain. Steem is back to running independent witnesses, rather than appointed sock puppets. It seems like a new kind of community — mostly Asian and Spanish speaking Central/South American — has risen in place of what once was there. 

All that said, Hive is *definitely* undervalued, while I'd say Steem is probably close to *"fair value."* 

I fear perhaps the Hive *"persona"* has gotten a little *myopic* and too proud of things that *don't really matter* to the crowd that could actually help it take off and grow. Our precious *"fund"* isn't invested in such things as having *full time* exchange liaisons and PR people to just *pound the streets* with press releases and a *"system blog" that gathers and outlines every new development happening on Hive. Instead, we're developing *"new stuff"* that largely get presented to... *OURSELVES.* 

Splinterlands' success came from its enormous *external* reach, and from the fact that you could grab your Visa debit card, and BINGO you had entry to the game... OH! And a Hive account, to boot. *Ease of access.*

I'm going to stop now, because this is the point at which I start slamming my head on the keyboard, and it's not pretty!

Of course, all this is just my *opinion!*

# =^..^=