Rewards would work much better with millions of users rather than a handful of users collecting most of the rewards. But it is clear we need to remove rewards off the main token.
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Rewards would work much better with millions of users rather than a handful of users collecting most of the rewards. But it is clear we need to remove rewards off the main token.
how would then hive be distributed if you don't distribute it by voting with your stake?
It would become a utility token. Rewards would be distributed by SMTs.
ok i am a noob in this, i spend some time reading. I understand the part of utility token where you own it so you can use the network (for example, you have resource credits so you can transact on hive). Only thing that i found on distribution of it, is mostly connected to ICO's and initial token distribution. I found nothing about distributing tokens after the initial distribution. So will there be no further distribution? would just witnesses get new tokens, or maybe would it be distributed to people who have staked hive...
If this is something that you think i should know and you don't want to write about it, feel free to share some useful links.
There is no current plans for anything but it has been discussed a few times. Right now it is just an idea.
I would think hive as a base utility token would have a modest inflation with distribution to hp holder, witnesses and the DHF.
People will want to have Hive still as it'll probably still be needed for governance, transacting among other things
thing i was thinking, and i could be wrong as my knowledge is really week, is will that make it more centralized.
one of the big points, even from steem time and especially after steemit stake was moved, was how distribution is getting more and more decentralized, and how whales don't have that much control as they used to. If all distribution goes to hp holders, witnesses and dhf would not that move it to more centralization?
First of all, if the global reward pool were to be removed, we would prob. also reduce inflation overall. Besides that, right now, many small people are selling their HIVE, and who is buying it? The accumulators aka the whales.
Even with individual reward pools and tipping, I do think there will still be a better distribution than on any other currency, even if whales keep 80% and give 20% away.
it would be interesting to see how much hive is sold (transferred out, because we can't know do they sell it) by whales, orcas, dolphins, minnows, red fish.