Sorry for being a bit dense but are you saying that, in the future, as Hive gets busier I will need more RCs than I do now to do the same stuff I do now?
Posted Using LeoFinance Beta
Sorry for being a bit dense but are you saying that, in the future, as Hive gets busier I will need more RCs than I do now to do the same stuff I do now?
Posted Using LeoFinance Beta
That is an extremely likely scenario.
When the RC system came into place we had to artificially give everyone x10 the number of RCs just so people could continue using the system. There's a very high chance that once blocks fill up that x10 bonus is going to go away and everything will cost x10 more RCs... maybe more. It all depends on supply/demand to use the system.
The problem actually gets exponentially worse once RC pools come into effect and RCs are worth real money instead of rounded to zero value. Then all the whales on Hive will pop out of nowhere and start selling their bandwidth... which will exponentially drive up the prices of RCs once again.
Oh err. 😱
!ENGAGE 20
Posted Using LeoFinance Beta
ENGAGEtokens.RC prices scale due to usage, you can check out the prices here: https://beempy.com/resource_costs.
Right now its insanely cheap to do most things. But as more and more people interact with the chain, the cost of doing certain actions will go up as more and more of that action is done(if people are doing a lot of custom_json actions, the cost of that goes up).
Now a good thing is that we are getting RC pools and RC delegations in the future to help with this. Still beats paying liquid for transactions though.
It certainly seems so.
I had never considered this before now the transactions on Hive are free narrative gets pushed so much.
!ENGAGE 20
Posted Using LeoFinance Beta
Yea, the recharging part is what makes it truly free. If RC didn't recharge it'd be like any other chain.
ENGAGEtokens.As someone with over 500 HP you're probably in the clear, but you never know.
Good news is that if this happens Hive token price will go at least x100.
Wouldn't this make it harder and harder to onboard new people to the platform and kind of put hive into the same issue Ethereum is facing today with High fees? Like a paid entry fee to use the blockchain.
Posted Using LeoFinance Beta
Not really because we'd just centralize the chain more to accommodate the extra volume till we could figure out a better solution later. Hive network can move much faster in this water than Ethereum can. ETH is already a slow lumbering beast, DPOS is a completely different animal.
I'd better keep my HP then. 😁
Posted Using LeoFinance Beta
Slight problem . . . I don't have a car! 😂
Posted Using LeoFinance Beta
😂
!ENGAGE 10
Posted Using LeoFinance Beta
ENGAGEtokens.