In theory it could/should work. I am a strong believer that the main metric for Hive coin valuation is the user-base growth. More users, higher the price. So as tens of thousands or millions join the network, this growth will be reflected in Hive's price.
Since reward distribution is kinda calculated, displayed, and distributed in HBD (or USD for simplicity), the higher Hive price will easily be able to reward millions. Even if users will get much less Hive coins, in HBD terms value would still be decent enough to participate.
So in theory it is more than possible. But this requires high stakeholders collectively embracing the long term gain strategy and focus their reward distribution influence to incentivize participation. Any high stake holder will be much better off with $10, $100, $300 price rather than accumulating short term rewards in the form of authors rewards, curation rewards, or interests.
Reward distribution is not broken, it just requires a lot of time and effort. Most stakeholders don't have that time to be sitting at the computer curating and properly distributing rewards. But at the same time there are communities who are putting in work to grow their user-base. Bridges between these need to be built for more effective and efficient reward distribution.
Any form of content should be acceptable, communities should be able to self moderate based on the engagement, interest, etc and be able to deal with abuse.
Most importantly though, where Hive fails is rewarding content consumption. Content creators are rewarded, curators with decent HP are rewarded, stakeholders are rewarded, but the crucial majority of the economy - low HP content consumers are not really rewarded. If we can solve this, then we will be able to attract millions. Because vast majority of the users are content consumers and not content creators. Our reward distribution system turns content consumers into content creators, because that is the main way anybody can be rewarded in the economy.
One of the solutions for this can be building a Hive Browser. If we have a Hive Browser, it may serve as a Hive Hub for Hive Apps. Not only users can be rewarded for using the Hive Browsers, they will easily be able to discover all Apps on Hive. Think of it as an App Store for apps on your phone. Something like this will even bring in more talented developers to the platform.
Yes, I know there is Brave browser already. I would think Hive Browser can be much better, because it can connect to its own blockchain, create a bridge between developers of various apps and make all apps be easily discoverable by users.
If we get more users, then all influencers will follow. What influencers, content creators, apps and games developers really want is discoverability and audience.
I think you can build a Hive Browser and even get it funded by HDF. :)
cool ideas!
Thank You!
I don't really get your point there TBH. :/ Are you in favour of the global rewards pool or not?
I was just trying to answer the question in the title. I wasn't comparing one system to another.
But yes, I am in favor of global rewards pool. Another alternative could be just removing the global pool completely and let SMTs takeover the rewards distribution once they arrive.