Well, when it's all stake weighted it becomes an Oligarchy, which Hive is, so not truly decentralized. All the 2nd layers in the world won't change that. They may help, but Hive is the big guy for now.
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Well, when it's all stake weighted it becomes an Oligarchy, which Hive is, so not truly decentralized. All the 2nd layers in the world won't change that. They may help, but Hive is the big guy for now.
1/8:
Lol.
Layer-2 will 100% change that.
Again, I stress that the HIVE reward pool will be irrelevant when layer-2 is properly monetised lol.
People will still expect to earn both. It's always about earnings and always will be
You don't think layer-2 tokens will ever 10x the price of HIVE.
If monetised properly, this is an inevitability.
And then, nobody will care about 'earning HIVE'.
HIVE will become the governance token you get as a bonus via distribution.
It's possible
With the current traffic to leofinance.io and LEO's current market cap, it's an inevitability ;)
As it was always meant to be.
2/8:
You're right that right now all people care about is the HIVE rewards they receive on their content.
Because yep, the token price is so much higher.
3/8:
But the reality is that content 'quality' on any Hive front-end itself has no bearing on the price of HIVE whatsoever.
None, zilch, nada.
4/8:
I'm sick of talking about it and just want to see action from the fucking team, but ad revenue will quickly snowball and LEO will outperform HIVE.
At current market caps and traffic, it is inevitable.
5/8:
Once that happens and the price of the layer-2 overtakes HIVE, then the Hive-elite can downvote all they want.
It will be irrelevant.
6/8:
All that matters for HIVE is that no single person or small group of people can take over governance of the blockchain.
That is literally the ONLY THING that matters!
7/8:
And even though you say its an oligarchy, the reality is that in terms of influencing governance, it's not.
Justin Sun tried with the pre-mine and still lost.
Did he? Looks like he's doing fine to me
Steem is no longer a censorship-resistant base layer.
Steem is steemit.com which can censor you.
There is zero long-term value there whatsoever.
Milk it and leave.
8/8:
We just need to get to the point where layer-2 monetises content and drives value into the layer-2 token.
Then the whole way people view HIVE changes for the better.