An interesting thing just happened. The majority of people seeking to create value on the STEEM blockchain have moved over to HIVE to create value there. I'm not really talking about bloggers here, though they are important. I'm talking about multiple projects, developers, large stakeholders, visionaries, along with prominent bloggers. What does that leave STEEM with? If the STEEM community no longer contains many who seek to create value, and contains mostly those that seek to extract it, what do you think will happen?
I have a pretty good idea what will happen, especially if Justin Sun actually fulfills his promise to remove downvotes. The reward pool will continue to get thinner and thinner, and this will continue to put significant downward pressure on the price of STEEM as milkers dump the token. Now take the other side of the equation. It is clear with projects moving over to HIVE, that more liquidity for HIVE will be required, and there will also be more sinks for the HIVE token.
This is going to be an interesting case study for crypto economists and historians in the future. I for one am thrilled to have chosen the blockchain where the energy and talent have gone. I can already see the milkers on the STEEM blockchain, firing back up their spam machines, salivating at the powerdowns of the accounts that cared enough to bother to downvote them. Though it's likely STEEM will not die off completely, if it avoids becoming a TRON token, I predict it will be sub-penny before too long. Contrary to that, I have seen more energy poured into HIVE in such a compressed amount of time, than I have ever seen in the crypto space.
My final thought is that curbing reward pool abuse will be just as critical on HIVE as it was on STEEM. This will be proven in the end by simply observing what happens to the reward pool on both chains. Stay diligent my friends, and continue support the abuse fighters on our new chain.
As always, your thoughts and comments are appreciated even more than your votes are.
What will happen on Steem will, but I think if the utility moves mostly over to hive that does not help the situation on Steem combined with the willy billy nature of Justin.
You mention the downvote pressure etc, what I would really like to see are proper stats on these things. We have an entire chain history with a lot of actions we wish to adapt or change surely these things can be plotted and changes we want to test simulated through the historical data. Things like having stake not have such an ultimate say etc.
@Crimsonclad was being her sensible self and made a comment about how seeing as we have no actual say in the SPS or whatever that fund thing is the smaller accounts should show a united front for the ones they believe are undervalued and appeal to the big stakeholder to support these projects we also see value in other than the half-assed brief proposals that are top now. Obviously I am paraphrasing :)
Standards and guidelines need to be put in place across the board, and things like botting, "circle jerk" need to be defined. If only in writing , guidelines on how effectively to vote like if you know the account has a lot of stake, they repeat post the same type of crap then why the fuck even vote them another $20 ontop of an already very gracious $10 ... Obviously we can't tell people where to vote until such algorithms for repeat frequency and proximity maybe enforce that those who already get a lot all the damn time for the same damn shit would ensure that it evens out. Very rudimentary description but hopefully you know what I mean. So more stances on how to approach such things would at the very least inform people to think about how they vote. I don't think this place need follow the same mentality as the world where if it is popular then let us make it more popular and fuck everything else.
Oh I was talking about what crimson said... It makes sense to appeal to the bigger stake but that still leaves a broken governance system sps or witness wise whatever. You will always have unreasonable people and many of them own the most stake or could acquire, there needs to be some cap. It seems to me the chain assumes humans act logically but the chain and the decisions we build into it needs to assume that the user is a security risk and actions they take are not in the best interest of all. Now all of this shit I wrote is scatter brained but I think just saying "curbing reward pool abuse" refers to "spammers" blah blah. This needs to be looked at on all levels from high to low and treated as such hopefully through the code and maybe through patterns we can gather by simulating history.
I appreciate the verbose reply ;)
This will be a bit difficult, as you have seen a centralized entity do that on our sister chain and actually enforce it. Who gets to decide?
I agree we could have more measures in place to emphasize the lower stake votes. That's a fine line to walk, but I think measures such as drastically dropping the number of witness votes down from 30 are a great start.
It's been only two days, but I agree, the battle for HIVE's success has just started.
Must admit I did not grasp well all of the comment. Still, I think your encouragement of using a statistic measures of historic patterns of bad behavior on Steem is a great idea. It could be a great tool that might do well to help avoid making the same mistakes here.
When will wallet work?
Soon?
I use PeakD and log in through PeakLock. Wallet works for me that way.
I think there will be the same ole circle jerking going on here as on STEEM.. I do believe HIVE will overtake STEEM in price but I'm not sure STEEM will go down very much from where it is now..
Thanks for the comment. It will be interesting to watch.
Oh it'll certainly be fun to watch
As the dust settles, we have jobs to do. As developers are porting tools to Hive and fixing the nuances, we got to organize our thoughts on the following:
I am sure I am missing something; feel free to add to the list.
That's a great list. This is the absolute best time to a community to have focused energy, stuck at home in front of computer screens when not working. We can absolutely make the most of it.
It helps that the airdrop cost basis was zero, so I'd imagine you'd only be taxed on the full price upon selling it. I'll be dumping steem no question, and I'm sure I'll be buying some HIVE with the proceeds.
I think Steem is going to turn into a big self-upvoted spam fest, especially if they get rid of the downvote. Look at the other Steem clones where they got rid of the downvote. Where are they now?
One of the good things is that a lot of the abusers are staying on Steem, not all of them, but a significant enough number. There are a few that I will be glad if they stay over there.
I just hope the incompetent buffoons don't break the chain before I get a chance to get all of my Steem out.
I'm right with you there man!
The list of projects, which already moved to Hive, you can find on http://hiveprojects.io/
Also, take a look at: HiveProjects.io is now LIVE! information about all Hive projects in one place! :)
Thanks, a great list that will only grow longer from here!
There is no question that the talent has moved to Hive, @joshman, but the vast majority of internet users; be they TRON's million or FB's billions, do not have a care about decentralization. Communities will give them the control needed to not have to care about the spammers and scammers of STEEM. Sadly, my feeling is that Hive will become the AOL of DPoS.
Tron's millions of users? Do you have any reference for this number, or is this parroting the number spouted by the man himself (He also claimed steem has a million users)? Have you actually taken the time to research the circumstances through which Tron came into being, and what actually runs on it now?
Tron's millions of users are primarily gambling bots that are set up to try and use the law of large numbers to beat gambling smart contracts.
Compared to how many active users on STEEM even before 22.2?
No plural
If you said hundreds of TRON users id say that was fair.
"Millions" is insane. Thats fake to such a degree that it has no rival in crypto.
No plural.
Not even close to million. 500 maybe.
Thanks for your pontification.
does anyone know how i can get my wallet working on HIVE?
I'm having problems with delegation. The issues are known and being worked on. A lot has happened in a short period of time, so we just have to be patient. Thanks for dropping by.
sounds good! thank you!
Deciding to pour one's support into a blockchain that doesn't even have a functioning wallet seems... bold.
What's it like being this wellspring of negativity? But you actually took the time to log into hive and comment. Why? How does this move the needle for you?
I have a feeling that you made a good judgement about the future of the two chains. If the real value of a blockchain is the community that's backing it then the Hive token could potentially outrun Steem in that sense.
I do hope that this community achieve the success that it deserves. Hive on!
Thanks for dropping by and sharing your thoughts! These are exciting times.
I think there will be a little less abuse on Hive.
People didn't buy their airdroppes hive, so the argument that we have an investment to get a return on is untrue for the airdropped amount (this was nver a good argument on Steem anyway).
As for that earned after the airdrop it will be earned on a chain where bidbots and circle jerking excessively are unacceptable. So there will be no payback for stopping it on hive like there was on steem (a lot of those random downvotes were from bitter former bidbot enthusiasts).
I'm probably naive to hope this, but let's see.
I agree, the energy here will be different (I hope), as people feel more empowered to take an active role in governance.
Thanks for your comment!
It will be a fun thing to watch in the near future. And I mean months or weeks when I say near future. Maybe after the two blockchains have stabilized, we will see observable trends from this social experiment. As for me, I'll be with the community that values freedom and decentralization.
Cheers to that! Given the quality of your blogs, I am thrilled you have chosen to make the jump!
It was not a hard choice to be honest. Steem will become a pile of shitpost so my blogs have no place in there.
I don't know much about blockchain development, or even operational use at this point, but I do understand the potential it holds for individual freedom in all aspects of our lives and society at large.
That is the reason I am here.
I believe this could be a pivotal moment in history, especially with the current events unfolding all over the world.
I am also very happy to see that the creative talent in this community chose to stand for the principles which are fundamental to the promise of decentralized blockchain.
It is now up to the community to make the most of the opportunity their bold stand has provided.
I hope I can play a part in honoring their efforts by sharing it with others.
I know everybody has to eat, and we all deserve what we earn.
I believe that is what this is all about.
The more individuals we can free, the more free we all become.
Welcome, and thanks for your comments! I agree, it is now incumbent upon the community to make this happen.
So long as people continue to upvote content that is about the platform in lieu of upvoting content that is... content - we will see the same problems on HIVE as well as STEEM.
I agree that at some point the congratulatory back patting will need to drop off, but this is to be expected in the short term. I fully intend to revert back to my 10-20% rule for voting platform-centric content, and see if I can drum up support for @trendthis, which was moderately successful on STEEM prior to the Tron Drama.
Thanks for your input.
I'll be trying to do 0% for platform centered content. There's witness rewards and the proposal system for that. :)
There's also lots and lots of curation projects around the place, which is awesome, and I can't wait to see how they rally around this chance for a fresh start!
I didn’t mind having content about the platform.
My problem with them has always been mostly talk, but not much accomplished.
Its just the sign of the times. The lower the price the more talk about Hive there will be.
During the highs the steem related posts were very small in number in comparison to everything else.
Great. Now they old whale circlejerks use the Ninjastake to circlejerk again..
The meltdown will be fun to watch!
There is no better way to capture what is going on here. Hive is bliss. Cheers!
Thanks for dropping by!
My pleasure.
Yes I think it will eclipse the value of STEEM because STEEM is now controlled by the #CCP
and they are just a bunch of evil globalist chi-com scum.
That is certainly an angle worth observing over time! Thanks for your input.
Put the smack down on abusers right away in on Hive. They will migrate back to Steem and create a huge mess. Rewards pool.... drained.
By "smack down" you mean censor, right?
Remind me... who decides who gets censored? Why are we rushing to begin?
No silly it’s not being censored. Have a bit of a sense of humor would ya.
Speaking of anti-abuse, we need to reorganise right away.
Not sure if the attack vectors will end up being the same, but they probably will. I hope there is more community support for anti-abuse this time around.
Even without delegation, I'm hoping people will exercise their downvotes.
Yesssssssssss, welcome #NewNewNewNewNewSteem!!