Im not claiming lower number = more people. I'm saying I consider our high Apr for promotional reasons to be a failure at this point, an experiment we tried for a year with disappointing results and I'm trying to reduce the amount we burn on that failed promotion.
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Yeah I get that, here is why I disagree.
If you say HBD is a stablecoin, then it must remained pegged to the USD or whatever currency it is "stable to" and must remain so for years to gain trust. The same goes for the interest rate, if you advertise 20% APY which is per year then cut the interest rate to 15% after year 1, no one is going to trust that it will remain at 15%. What is stopping it from changing again to 10% or 5% or 0%? In the eyes of an investor, nothing. The interest rate changes on the whim of the network. Not very trustworthy hence why big investors don't trust stablecoins or 20% returns because they know it's not real and changing this would prove that correct.
Failed promotion? I have not heard a single content creator since the days of steemit even mention this website. Ya'll poured money into the like of Luke Radkowski and he left yall a long time ago. The Hive whales picked the wrong people to back and now no one uses HIVE. No one talks about HIVE, no one even knows it exists. If the higher ups at HIVE want to promote this website start finding decent content creators again and recruiting them here. I am not talking about me, I am talking about actual decent large content creators. This place needs a BUZZ to be an actual HIVE.
Nobody should have ever been advertising this as locked 20% forever. Anyway, it seems like the network is moving towards a bond system that could help here, eg https://peakd.com/hive-167922/@taskmaster4450/this-is-how-hive-bonds-will-work
Okay okay, now this looks promising...
This is something I can sell to an audience. 12% on the first year investment is quite good.
I still think we need to address the "onboarding" issue with HIVE, meaning we all need to come together as a platform and drag people here kicking and screaming. Somehow we have to make HIVE relevant again.
It failed because it was done as the bear fell. Nothing would have worked because Bitcoin leads the market. Nothing will work until Bitcoin leads the market up again. April 2022 and August 2023 are EQUALLY bad times to start and assess an experiment like that.. all we're going to do is put bad stories out in the market before the bull. "HBD used to beat inflation, but now ..."
But now HBD still beats inflation by a good margin. In fact, it's still 20% and nothing has changed at all.
And very little will until roundabout the spring of 2024. Unless someone has data I'm not seeing ANYWHERE, the crypto markets as a whole follow Bitcoin, and that doesn't halve until around May next year. In like manner, nothing could be done on the wrong end of the cycle in 2022, either -- what crypto endured that without heavy losses, and how would we have stopped a stampede that big running from 80-99 percent losses with a stablecoin nobody really knew yet?
But consider what story we want told when the bull run starts again. Do we want people to be talking about Hive being exceptional in this regard -- 20 percent is actually no longer unique, but the access to it Hive provides still is -- or take away another distinctive?