The top 20 accounts are taking 50% of the inflation, day after day, year after year, anything that monkey wrenches that treadmill is better than letting the stake continue to concentrate to those that already have game breaking amounts.
Who plays a game they are guaranteed to lose?
Who provides exit liquidity to a game that will never change who is in a position to profit from playing?
Why put effort into hive when the stake will continue to concentrate in the accounts of those that have the most?
This fact has handicapped adoption from the very beginning.
Nobody wants to do anything about it because the only way to get the big votes is to ignore the problem.
Burn posts still pay the curators, only the author rewards are burned.
Better to burn hive than to let it continue to feed the problem, imo.
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Show me.
Most inflation is distributed through the reward pool.
The biggest bloggers are not the biggest stake holders.
Show how the distribution is centralizing over time.
It should not be hard and no one ever presents any actual evidence to show it.
I can never take this argument seriously because I live under the poverty line and there's a chance that I make it to whale status this cycle.
The absolute biggest contributor of centralizing the stake is market volatility and the 4 year cycle that fucking wrecks all the new users and completely demoralizes them. It's the distressed selling combined with the fact that 90% of the world lives paycheck to paycheck and has zero ability to manage their finances properly. To top it all off blogging is totally subjective so the jobs the network currently offers are not creating objective value. There is no problem with how this network currently operates the problem is that the users aren't creating any value. If the users were creating objective value they'd get rewards. The only thing we are missing is better infrastructure that allows users to create objective value that can't be contested.
Who loses?
I post something and it pays out $0 just like every other social media site.
Only 10% of our inflation is allocated to security.
Everything else is just icing on the cake.
On Bitcoin only the miners get payed (100% security).
Why would anyone buy Bitcoin?
Why would anyone run a node if they don't get paid?
Why would anyone build anything on Bitcoin when only miners get paid?
Oh wait that's exactly what's happening.
Why is that?
These issues can't just be explained away in a few sentences.
There's an invisible network effect permeating everything.