I read an article the other day that mentioned CEO's making record salaries this year even though there's been huge layoff's post-covid, not sure how true it was with inflation and everything but it's been something on my mind in general with the way things are in the world.
I'm not gonna go into the whole 1% or the 1% of the 1% and the absurdity of money they make compared to the rest of people but I really wanna emphasize why I think the way money is earned needs to change in the future.
It is weird to me that in this day and age where automation is becoming the norm, renewable energy is becoming more widespread popular, we still have people who have to work all day to make ends meet.
I'm fortunate enough to have been raised in a country where even if you have 0 money you won't end up on the streets, so I can't imagine what it'd be like being in such a situation and the stress and fear working people must constantly be in.
It's not surprising that most tv shows or movies I watch the plot often revolves around money, work and the issues that brings to families and people.
Anyway, point of making this post was simple. There's a lot of things branding themselves as web3 these days, but are they really web3?
What does it mean to own stake in a network?
I still see a lot of people comparing things to the old outlets, let's take for instance Hive earnings compared to Youtube revenue.
"I want lifetime rewards for my blog, 7 days is not enough to get upvotes for something that may garner attention in the long run and profit the blockchain".
This is one of the "big" reasons many say that content here may not be as great as it is on the outside, let's pick apart some things with this sentence.
The reason posts payout after 7 days is what I've been told is network bandwidth, the blockchain would need too much data stored in memory for too many posts for too long which would make it slow, in layman's terms, not that I could explain it any more technical. I'm not sure if this is less of an issue these days after the work blocktrades and team have done towards improving and making the chain scale better, but let's go with it staying 7 days as I haven't read any recent discussions about changing that.
A "simple" solution to this would be an active post or comment, anywhere. Let's say for instance someone lands on your amazing post from 5 years ago and has staked up a lot of hive, he wants to reward you with an upvote but the post is too old, so he checks on your current activity and throws you a vote there instead. You may not know it was because of that old post you got the vote and a new follower unless they told you.
However leaving "constant" comments under that very post would easily enter abuse territory, cause what you don't want to happen is the same voters/stake voting for the same content over and over. Those are simply the community guidelines, you gotta consistently post to get the same voters to reward you over time. Sure this may make your content a bit more spammy/less effort but that's your decision as a content creator which can have different effects on your future vote rewards.
Now let's think about hive in and of itself. Did you know hive power offers you more hive power over time? Without even voting your HP grows by around 3.17% per year, that means that if you have 1000 HP on January 1st, you will have 1031.7 HP the same date next year, although slightly higher as it compounds. If you also curate, which on average gives you 8.5% APR, putting the yearly return over 11%.
If you made a post very early when this chain was launched, and it earned 100 HP in rewards, not counting the changes in APR over time, that 100 HP would now have grown over 2x since.
Without getting too much more into details. Ask yourself this. What other blockchain rewards their users most of their inflation? Aside from miners keeping the network secure, very few do and hive has done so for over 8 years now.
The whole question regarding "evergreen" rewards is so broken to begin with when you consider that earning on any other web2 platform doesn't give you shares in their company.
Do you think the people to first upload to youtube got shares from their views that google had to buy off of them later?
Another important thing to keep in mind is that google doesn't lose money when you make money, their shareholders are unaffected. They're only sharing with you part of the advertisement money they receive to place ads on your videos. You are working for them.
Furthermore, nothing is stopping hive front-ends from enabling the same models, so you'd earn stake and ad revenue at the same time. Do you think others will be able to beat that?
Okay, I'm going on a tangent again. I guess the issue we have these days is lack of conviction, not enough people believe that Hive will become the next big thing and there surely haven't been a lot of great signs lately leading us to believe so. At the same time, however, there haven't been any other competitors popping up either that will forfeit most of their inflation towards real people.
Do you think Elon would give people twitter shares along with adrevenue? He owns that platform and with all the changes its been having lately it should be clear that he can do whatever he wants with it. If witnesses on Hive started proposing some absurd changes everyone could vote them out of that top position to be powerless to campaign for those changes, not to mention you'd need 17 of the top 20 to agree to them in the first place.
Even if Hive doesn't become the next "big" thing somehow, it'll always be a thing. That's something hard to wrap your head around for some people but look at all the dumb memecoins and things you see having "value" these days. How the stock GME is pumping because some people just like it and want to mess with shorters trying to profit off of a dying company.
There's a lot of people who sell Hive due to the economy, and I understand that, you don't often hear people say "ugh wish I hadn't sold" even though it's had its pumps 3-4 times over the course of its life-time where those sellers would've made more had they held for them. There's also a lot of other shiny objects out there and people can't get them as easy as they can earn hive, so they may trade hive for the more shiny coins in everyone's minds these days and then find it hard to buy back hive because "ehh I'll earn it back by posting".
All I'm trying to say with that is that the period of earning back your stake is enclosed. Hive still has 10 years or so of reduced inflation that'll end at 0.5% yearly, but a decade isn't that much time. Your reputation and activity isn't going to give you rewards forever, at least not in the form of stake compared to the total supply of Hive.
Reduced inflation also means that the HP from this post I may generate won't be 2x in 10 years time, so it is already affecting our stake earning potential compared to how it used to be in the last 8+ years.
Voting will also change, stake will switch hands, delegations will change. You never know what's going to happen. Never having any stake on your account is a bet against Hive failing. Think about that for a minute. If you constantly sell everything you earn, you are either saying A. Hive is going to die and go to 0 or B. I will make it back before it pops off or C. I don't care either way.
The more people that join the less stake you're going to earn, that's just how the platform is designed. There's more and more orca's and whales now that distribute inflation manually, automatically or a hybrid of the two. They're not always going to support you to continuously earn stake and if someone more interesting comes along than you they're going to forget about you, whether they want to or not, that's just how attention works.
Anyway, I'm going to post this in the rant community cause it went way off the rails than what I initially wanted to write about, but thanks for reading my sleep deprived post anyway. Been quite busy lately, a lot of things to do with Zing but happy to be able to get started with some of them that required funding. Also happy to be able to backpay some people who've been kind enough to wait on their payments for the survival of the project's sake. Thank you to those, and while I do plan on giving people bonuses for their patience and integrity, I'm going to make damn sure that similar to Hive, Zing won't become another company that if it makes it big only profits the founders, CEO's, shareholders and what have you. That shit is over and a new era has come, whether web2 likes it or not, it'll have to adapt or die.
Posts like this are interesting to me. I’m more on the periphery in general, and even after all these years am still just wrapping my Butt head around the mechanics of this blockchain.
I’m not fully clear on what exactly changes in the next 10 years.
My stab at understanding what you are saying is… - our given and received upvotes have more value
now because the inflation amount is higher. When it gets down to .05 inflation, only those with actually high HP will have meaningful upvotes.
And then the logic is that those larger stake holders will be less likely to vote for those who sold their stake and earnings of the years??
It seems this would negatively affect onboarding and retention which is already fairly dismal.
Your rant makes me question my mindset, and you sort of hint at it above…. Ie. I should be putting out more low quality content to take advantage of current inflation rewards.
As I’ve often said, the money is a bonus for me but secondary, I’m more interested in the control and ownership side of being part of a social media that I partially own and have whatever small voice within.
I’m not going to say my content is groundbreaking or amazing, but it is really me and I care about it being representative, I treat it like a digital diary of my creative and family life, and I’ve made a point over the years of not just posting for the sake of earnings.
lol, your post makes me wonder if once again that’s just my Butt thinking and I should be generating more low effort content to stack stake and be prepared for this coming future of .05 inflation earnings.
P.s. I won’t actually do that, but it is the conclusion I’ve drawn
Okay so a few things
This isn't true necessarily, it depends on what you think are meaningful votes. When hive was worth $3, even a dolphin was giving away several $ upvotes, but the amount in HP remained the same as when hive was $0.2 due to their stake and pull on inflation.
This may be true, I've been reading quite some posts lately of people changing their voting behavior to reward those more who stay vested, it's a social media platform and proof of brain token so it's not outlandish to expect people to cast judgement and want to protect their stake in different ways, not everyone may do so, I for instance am in the boat that "oh well they'll have to face their own regret when the markets turn" so I don't look too much at that personally.
As for it affecting onboarding I wouldn't say it does, new users should get the chance to become larger stakeholders much like the people with the mindset above once were but grew over the years and myself included. However if they constantly sell all stake then it's only natural to assume that stakeholders may favor newer users to give them the same chance. There's many curation projects who for instance focus on newcomers to help retention but after some time they hope others will carry the job of further curating them for retention so they can focus on new users.
With more distributed stake it means that even those new users who stayed vested can help further distribute stake, even though at these prices it is hard to imagine, a thousand users with 1000 HP voting on a single post has the same outcome as one whale with 1m hp, we've just never gotten to those activities where a lot of small users are active in distributing votes.
I didn't necessarily mean you should change your behavior, as I mentioned your activities have consequences, if you're getting support now either from auto or manual votes maybe it's cause of the way you've been posting and if you change that then this may change too, who knows.
It's best to keep doing you in terms of content and activity, I'm merely stating in this post that if Hive magically were to rise tomorrow and it'd bring in thousands of new active users or we somehow fixed onboarding and someone invited in thousands of active users all of a sudden, then the way voting works would over time mean that the regular folks wouldn't get as much support in terms of HP earnings from posts as they may do now when competition for it is low. Even though it probably isn't as low as last bear market in terms of hive price.
There's only a set amount of hivepower that goes out daily, what you may earn in hbd can scale to thousands if the price is higher, some authors only care about that as they never hold any stake, they just come back when prices are higher to get hbd from their usual voters and leave again when hive prices are lower since they're not interested in the long term speculation of hive, just the short term hbd rewards. My point is that eventually when they come back it may be the last time that hive stays low and they may find themselves having to compete for the rewardspool vs 10x more active users, they're not going to be able to earn the same stake and votes they once did if their supporters have forgotten about them or simply choose to do the "human thing" and ignore them because they're just there for the pump.
I appreciate your thorough response @acidyo
I feel nudged closer to comprehension.
In general i treat my time here on HIVE much the way i treat my life in the real world. I know there are things and reasons for why the world is the way it is, i just dont put much effort into trying to figure it out. I try to just find my joy in this life and let the world do its thing while i try to be the best me i can be within it.
So yes, i was not saying i would change my behavior based on the info of your post. More just processing my interpretation of what you were saying. Though it all feels above my pay grade really 😉
so for now ill just go back to making my own little posts for my own little reasons and leave the bigger HIVE picture to the magicians that write the code.
First thoughts on the opening -
The biggest issue I am thinking of with this theme - not needing to go nuts to make ends meet. It’s the carrot and the stick.
For example - in order to get UBI - one has to comply with ALL the health measures. No questions, no choices, no freedom. If you don’t think that WILL happen then you may not recall what these psychos did to us the last 4 years. With how quickly and gleefully they rolled out injection passports and software to track and trace everyone and everything. This is their ultimate goal because it guarantees zero freedom. The sick fucks thrive off manipulation and torture, it’s the lust for power.
As I continue reading.. :D
Hive definitely has the chance to be something great. I like how task talked about it many months ago - we don’t need to be like China or India. It’s perfectly reasonable to be a Monaco - not a massive population but it does very well in its own right.
We don’t need 500 million people on here. We can thrive with 50k, 100k and do very well in terms of the online space. We just need to keep doing what we are doing and this niche will grow.
So many people have zero idea about places like this. They don’t know the ownership concept in terms of data and web 3 so eventually they will find us and if there are any reasonable competitors that arise. Nostr is meh but better than nothing.
We just gotta keep on building and improving the infrastructure!
This is a very good outlook to have. HIVE is mostly a text based social media. Our competition is Reddit, Medium, Substack and Patreon.
This is a realistic goal for HIVE to achieve. We need to market ourselves and onboard communities. Onboarding individuals will work great if they are lone wolf types. For others, we are going to get them aboard along with few of their existing friends.
Hive is definitely a very different animal from everything else out there. For me, who has been on this platform for more than 8 years, it is not about the amount of hive or hbd that I can accumulate but about how much interesting content it can provide me. Never use social networks like Facebook, Twitter, or any of the thousands that exist out there. But Hive has that nuance of being a network governed by many and where apparently no one has the power to decide its destiny. That's what catches my attention the most about this pseudo social network. I am simply a consumer of content, and I find it very interesting everything that people are capable of writing just to earn a few HBD or Hives.
For now, I consider Hive a pseudo social network because basically its motivation is purely financial despite the multiple topics that are published. However, throughout all these years I have seen a very positive evolution around the content that is published and the reasons why said content is published. The economic factor seems to be less and less important for some authors, and they no longer focus on doing Spam to get some HBD or Hive but on generating high quality content. They are very few but without a doubt it is a trend.
I do not believe that the main engine in the future of Hive will be generating content, but rather other types of much more profitable applications such as being a niche for IOT, for which it already has all the conditions required. This is what can generate real economic value for Hive, where 99% of network activities are carried out by electronic devices, creating great economic benefits for all Hive holders. Thus, the publications will no longer be for economic reasons but for truly generating content that has a satisfied consumer of that content...
I've always had a problem with comparing Hive to the other social media outlets and calling Hive social media in general. It just never set right with me. It feels like you are trying to fit a square peg into a round hole.
Well this was a heavy information dump to read by 6:30 in the morning 😂😂😂
Having Hive stake is indeed an important thing. At the moment I'm spending my hive on different coins and delegations that'll give me more hive in return.
best sleep deprived post 🕶
I'm hoping for the day where people will appreciate the value of Hive not only for making content but also for the games as well. Splinterlands somewhat achieved this in the past, attracting a lot of users in Hive who are not just gamers but also now post content. Hopefully, upcoming games like Holozing will fill this role. 😀
The 7 day rewards restriction definitely is not great for encouraging making some amazing long term content, This in my opinion is the number 1 thing that should be worked a solution for to thrive as a content platform.
Also I did know that just holding Hive power rewards roughly 3% interest and it's the coolest sh*t ever in my opinion :D
Profit sharing is one thing, but behind it is something equal to or worse than that. Everything we express on web2, is more and more supervised, the cases of censorship are becoming more and more extreme almost to the point that there will be only one niche that can be talked about “freely” there, entertainment.
It is not easy to identify it, especially when our children, the youngest ones, are brought up thinking that the internet is only useful to pass the time when they are bored.
It is necessary to continue attracting people, to continue educating them, to free them from this system that has taken hold as a new form of slavery, but that is already in its last days.
It takes time to understand what HIVE is all about. I have been on HIVE for 2.5 years before realizing its potential. Only recently I started to actively building my HIVE power. Before that I was more focused on Splinterlands so was swapping HIVE for SPS tokens.
One thing that is concerning is that HIVE has very little presence in mainstream media like YouTube and even Google. Even in the crypto space which itself isn't really mainstream HIVE is really overlooked. Most of the info on HIVE is 2-3 years old.
Also HIVE isn't present on any of the major centralized US exchanges like Coinbase. I think it would do wonders to HIVE visibility if it was listed on Coinbase.
Regardless of my doubts I am focusing on building my stake and not just through posting...
Yeah it's a real shame really that Hive isn't on coinbase, especially with their "rewards" they give out in certain coins to people for learning about random blockchain facts. It would've been amazing to have coinbase as an account creator itself to allow people to earn some crypto through them before "investing".
Oh well, most exchanges just care about $ and hive doesn't do too well in terms of daily volume on Binance and others to get their attention. If it doesn't get their attention they'll require money up front for listings or other things I reckon.
I'm hoping decentralized exchanges become more popular in the future compared to centralized ones, but for majority of people "holding your own keys" is still quite scary and they'd rather rely on customer service and an institution to hold their value so they use exchanges.
How nice the country you live in. Oh, thank you for this additional information. I hope I can manage the 1000 HP before January comes. Well, yet, I already achieved my goal which is 700 HP, so it would be a great blessing to reach 1000 HP this year.
Nice thoughts, let's see how well you execute em...
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I know most normies wanna make money and that is understandable but what is the benefit of censorship-resistance if you don't post provocative content? We need more edgy content imo.
What, you mean my make-up posts wouldn't be censored elsewhere anyway, so way not take advantage if the censorship resistance of Hive & post about (for example) how going to the Doctors if you're sick will make you even sicker, whereas juice fasting & enema would likely cure your cancer (and most other diseases)?
;-)
Shill $Hive everywhere
Surely is a sleep deprived post, thanks for sharing though
That is the reality of some Latin American countries and especially where we live here in Venezuela, to make ends meet you have to do tricks with money and perform as much as possible.
Cuando leo una publicación de este tipo lo primero que pienso es que aún me falta mucho por comprender pues, realmente me siento muy contento de participar y de recibir algo de recompensas en esta plataforma aún no comprendo el trasfondo de cómo funciona sin embargo aquí he entendido algunas cosas y veo que es una publicación bastante interesante, ya que también leí los comentarios y he podido notar que hay muchas personas que tienen tiempo acá y comprende la profundidad del asunto , pienso que todo lo que sea para mejorar es bienvenido y hablando de inflación en mi país me parece que es la más alta del mundo pues se perdió en el infinito el porcentaje aquí por dar un ejemplo es asombroso como un trabajador o un maestro de escuela puede ganar entre tres a $5 al mes y lo necesario para vivir dignamente una semana sin lujos es aproximadamente entre 30 y $40 sin embargo hacemos malabarismo y por lo menos en mi casa hive ha sido de gran ayuda para mantener mi renta telefónica , me agrada mucho este tipo de publicación pues voy aprendiendo de qué se trata todo esto
!PIZZA
I believe HIVE is where it should be, it’s a working model of what tokenized communities look like. At this point in time the majority cannot wrap their heads around the benefits of that but slowly they are getting hints.
And as your title says “CEO”, many want someone they can look up to when things go right and blame when things go wrong. Hive is a complicated but it has stood the test of time and the devs among us continue to build. I may not be active daily but I believe in HIVE.