Ah yes, the eternal idiocy of "let's lower the rate." Paired with the additional idiocy of "let's tweak the rewards pool structure to make the price of Hive increase."
Let's not.
I'm not saying it's the same thing, but going back to my IT years (I was NOT a developer) whenever you put developers and money in the same room, really stupid shit has a tendency to happen.
The frustrating thing about Hive (and its predecessor) has always been the substantial faction who operate in a fairy-tale vacuum where:
- The fundamentals of human psychology and behavior don't apply "because we're decentralized and on the blockchain."
- The belief that the token is the "product" supersedes actually having an actual product/plan.
- If what you're doing is "awesome" enough, you don't need to tell anyone about it, the world will simply "know" by pure magical intuition.
A little off-topic, the other day I found myself looking at the CMC/CoingGecko pages of quite a few top-50 chains/tokens. Know what's interesting? How many of of them have a regular stream of news releases in the "chat" column... no such thing from Hive. Does Hive even have an official liaison with the crypto media? Has anyone even claimed our pages?
Oh... wait. I seem to remember the last person trying to run that through the venerable Hive Fund pretty much got "voted off the island," and is now an EX-user.
Sometimes I hate decentralization... because there are aspects of centralization that actually work really well.
Sorry, your post put me in a bit of a ranty mood...
It is kind of exactly the same thing.
"We should print less money then number go up instantly."
Without any regard to demand going down.
Nice comment I'm pretty much in agreement with this take.
Although I may be a little less jaded at the moment.
Almost no one understands that people hold when they think the price is going to go up.
People hold when they are excited, these guys think in mechanics, when markets are ruled by feelings, and roadmaps, and bright futures.
They think if they get it adjusted just right, it will matter, it will not matter unless or until people get FOMO.
If I sell this and it's worth double tomorrow...
That only happens where there is excitement, growth and potential for the future.
I hadn't heard about this, what happened re: someone trying to be a liaison with crypto media and is now an ex user?