If you can't get HIVE for participation in governance/politics, there won't be many large stakeholders. Once the purpose of holding HIVE has been removed, why would anyone want to be a large stakeholder? In hopes that someone makes a cool L2 someday?
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Ask all of those Ethereum investors. Their staking will yield around 4-10%. Yet all I see is hype about ETH 2.0 and investors getting really excited about it.
If you think crypto investors and holders scoff at staking rewards, then I think you’re reading the tea leaves incorrectly.
With what I laid out in my “vision,” we could easily compete with that 4-10% figure...and still have a fast and scalable network with free transactions.
Also, it should be noted that staking affects governance, development fund dustribution, and interest. And we can add other incentives/rewards for base-layer financial products that may rely on stake as well.
ETH is going to PoS, not DPoS
If you want an example of DPoS with ETH features, that's exactly what Tron is.... of course Tron's governance is as broken as steem's
You wouldn't know that looking at the Tron blockchain though.... no way to communicate tied to TRX, so no communication about TRX governance unless it's off-chain. That's also unsigned, not stake-backed, and disregarded. If Tron users gained TRX by speaking out on chain, they would likely do so and Tron could be doing much better despite having a benevolent dictator
Yes, in your model staking affects governance, but only stake. In our current model, people mix and mingle ideas in an open market of ideas. What you're taking out isn't the advantages of holding stake. You're taking out the incentive for lesser stake holders to promote their ideas to stake holders and gain more stake themselves. The competition is what creates the value. That isn't always the type of governance conversation people might expect - often the competition is over something like bot usage. Sometimes it is directly the reward distribution. Either way, this stake-rewarded competition gives HIVE its value. If you want it to get it's value from L2 solutions and staking, there are shorter paths to get there than HIVE
They’re moving to 4-10% staking rewards. It doesn’t matter if governance is delegated or not. It’s the rewards that’s driving the hype/FOMO about it, not whether they can directly post on the Ethereum blockchain.
And as I said - we can still post on-chain. That doesn’t need to change. It’s just the posting/curation rewards that will be moved to a layer two community if the rewards are the most important part of the equation.
But like I said - if the HIVE rewards for dev talk are so important and that’s the only thing keeping Hive alive, then it should and will probably die. Small-minded thinking is what has tied our hands for four years. Let those weak hands move on to a place where collecting scraps of shittokens for shitposting is the preferred path to growth. I’m just not interested in that...and it seems that the general market isn’t either.
If you truly believe any of this - why did you write this post and accept rewards for it? If writing posts about governance/function ideas should not have value, then you and 314 voters seem to disagree with you. Look at all the people thinking this post should have rewards. Look at your stake grow as you gain support for your ideas. If you don't think it works and shouldn't be here, quit doing it. You can get 10% + without posting for rewards
Umm...because we’re still using the current system? If there was a layer two community for this, I’d use it. If the discussions were taking place on the base layer without rewards, I’d use it.
Your “Gotcha!” makes no sense. I can’t use solutions that don’t yet exist. So here we are.
For the record: I’m not against content rewards. I just don’t think they’re needed on Hive’s base layer and I don’t think we do social interfaces and algorithms well enough to make them widely attractive.
I think maybe you missed that point.
Hive Engine has had Tribes for a while now. The solution absolutely exists. You also said it'd be the same as declining rewards - declining rewards also exists
You could be using an L2 solution right now and not accept HIVE rewards. It does exist. It obviously exists. You're not using it. You had your choice of both where to start the convo, and whether or not to accept rewards. You chose base layer + rewards
ETH isn't the only chain with staking... err... will have soon. You know what I mean
There are hundreds of chains staking for rewards and nobody cares about them. If the value of other tokens is the driving purpose for change, then why look at ETH? BTC is more valuable. Let's strip all data but xfer out - then we can be as awesome as BTC!