When layer-2 is properly monetised, the HIVE reward pool will be irrelevant.
Yep, layer-2 is going to make HIVE stake downvotes on content meaningless.
Here’s why.
1/16
When layer-2 is properly monetised, the HIVE reward pool will be irrelevant.
Yep, layer-2 is going to make HIVE stake downvotes on content meaningless.
Here’s why.
1/16
The sole role of the HIVE reward pool is to distribute governance tokens and ensure the chain remains censorship-resistant.
5/16
Again, there is no correlation between the blockchain’s goal and content quality.
It actually WANTS repetitive spam because then the governance token moves to the most hands.
6/16
Literally anyone can buy a domain, links to the Hive blockchain and start monetising the content being created by users every single second.
8/16
Now if the LEO team could stop talking about ad revenue and just finally fucking do it, that would be fantastic.
Then the whole way people view HIVE can change for the better.
16/16
That will definitely turn things around. Khal said the smart contract is ready but wonder why it is not rolling out already.
The Hive elite will be forced to stop pretending HIVE and content have any sort of relationship other than efficient token distribution.
And layer-2 can get on with the job of incentivising quality content.
14/16
Right now all people care about is the HIVE rewards they receive on their content.
Not LEO, not POB or whatever other spam you get.
Just HIVE because the token price is so much higher.
2/16
But the reality is that the actual content published to all Hive front-end’s, has no bearing on the price of HIVE whatsoever.
None, zilch, nada.
3/16
HIVE has value because it is the governance coin to a censorship-resistant network.
As long as stake remains decentralised, ANYONE can publish to the blockchain.
4/16
But content however DOES have real world value.
Audience HAS value.
7/16
Domain owners can then set up layer-2 tokens for their community.
Pay authors a layer-2 token for the type of content that makes the domain $.
Then use the revenue to buy tokens off the market to further empower their community.
9/16
Providing incentives to create the type of content that drives ongoing traffic and makes REAL revenue.
NOT BLOCKCHAIN REWARDS, actual money paid.
10/16
With that in mind, go and research how much revenue similar publishing websites make.
Then look at the market cap of LEO and what a comparable monthly revenue injection would do to price.
11/16
Once that happens and the price of your layer-2 overtakes HIVE, then the Hive-elite can downvote all they want.
It will be irrelevant.
13/16
There.
That’s how layer-2 is going to make HIVE stake downvotes on content meaningless.
We just need to get to the point where domains monetise content and thus drives value into their layer-2 token.
15/16
PS. God damn it, of course I missed thread 12.
Yeah, exactly.
LEO outperforming HIVE would be an inevitability.
12/16
Never really though about it this way but I believe you make some great points