Moving forward whales will only become more powerful as they increase their stake by curating/investing so that part of the problem is only going to intensify as we progress into the future.
In late 2019, Steemit Inc was selling 200,000 STEEM per month to cover for development and infrastructure. That had the effect of lowering the price and making it easier for everyone to grow their stake by buying STEEM. Right now, the DAO is distributing about 4,500 HBD = 13,500 HIVE per day = 405,000 HIVE per month to fund development. The dollar value of that is more than three times the amount Steemit, Inc spent on a monthly basis in December 2019 if the 200,000 per month figure is accurate.
Steemit, Inc was able to ship many features in the second half of 2019. We can take a closer look at what the DHF funding has paid for when the summer is over.
Hey Mark
Sorry but I'm not sure your numbers/dates are right. I checked the transfers last week.
https://peakd.com/hive-167922/@abh12345/development-costs-then-v-s-now
I'm totally fine with differing opinions over the DHF and the various projects funded, but estimating numbers when the facts are on chain I have to point out.
Thanks for bringing up the numbers!
I guess another question becomes how likely are those who receive funding from DHF to sell those funds vs powering up themselves. In the case of Steemit those funds were going to the marketplace to decentralize the ownership of the network. If DHF recipients are not selling but instead powering these funds up then I could see this resulting in a situation where whales begin consolidating power by draining the DHF for their own projects to have an even stronger control for future DHF / curation funds.
That's exactly the problem. Of course, those funds could be cashed out, too, in which case the DAO could be part of decentralizing the ownership of the network. But to the degree those funds are just used to line the large stakeholders' pockets, then the consolidation/centralization problem could arise again.
But then again, Hive exists because of a core group of developers. Anyone who got an airdrop got a gift from that group and the altcoin speculators who are giving the tokens monetary value. Actions speak louder than words when it comes to intentions, which is to say that we'll see about how this thing will develop. There's always Bitcoin if this thing turns out to not go anywhere. But the jury is very much out there. I think it would ultimately be in everybody's interest to get the DAO working properly.
4500 is the budget. Its currently dishing out closer to 1300 HBD a day. Thats about the same Steemit.inc spent during 2019 if it continues for 365 days.
If it was my guess you can expect a new proposal after Justines 500 hbd a day ends. It will be for one thats up to 100 HBD a day.
Because of the return proposal. What happens to the money that does not get distributed? Is it burned or does it go back to the DAO?
Its a return proposal, i assume its returned, doesnt get funded. :)
There is no need to make assumptions, the account that receives the funds for the return proposal is the steem dao.
This is bullshit.
1300$ a day for 365 days is $474,500.
Steemit inc Spent $2,000,000+ in 242 days from end of 2018 to August 2019, and that's only looking at the accounts we know about.
Enjoy offloading your Hive into the rise generated by those exchange listings? Thought so.
This is why i find these discussions degenerate. As much as someone might want to try and introduce reason into these discussions, they cant, because you will always have fans (thats what you are, simply a fan) twist stats in favor of their point of admiration.
I sincerely doubt it though.
You should be ashamed of yourself at this point after the comments you left.
To lower yourself so much as to fight anothers fight and lie, twist facts so they get money for some secretary work they do not deserve.
Do you even consider yourself a man?
Look at what you have just written.
I'm calling your numbers bullshit, which they undoubtedly are, and you are suggesting I am degenerating the discussion? Where I am asking you to confirm if you are a man or not?
Look at the price history for the day they sold, or even take the month ending if you wish. STEEM was not 25 cents for much of this time.
Again, 1300 HBD at a dollar is $474,500. Steemit inc spent a million dollars more this in the first 8 months of 2019.
Next time, do the math before you start throwing numbers around.
I did do the math and the math is correct based on presented info in front of me. Start of year of 35 to end of year at 13 cents.
I made an estimate based on information presented. Based on information presented i did some quick math.
If you want to correct anyone go correct Mark.
Thats really not the issue here though. The issue here is that you dicks are singling me out. You yourself went out and either
(not sure whats sadder.)
Now again, after youve made your position clear 10 times, still going out and fighting the battle for someone, thats more then capable of defending them self btw, that will rip off the proposal system for 30k USD for some secretary work ( of which you will get nothing), would you say you consider yourself a man? Im curious.
Or do you think of yourself as a white knight?
This is bullshit.
1300$ a day for 365 days is is $474,500.
Steemit inc Spent $2,000,000+ in 242 days, and that's only looking at the accounts we know about.
Enjoy offloading your Hive into the rise generated by those exchange listing? Thought so.
At least those who are getting funded by the dao are doing some work in return for the money they are receiving. Stinc, on the other hand, had very little to show for the staggering amount of coins they were dumping on us each month. Of course, I hope to see those tokens get powered up but I'm not going to hold my breath for it.
If they do decide to dump them instead of powering up though, I'll be the first line of defense with my buy orders.
Except that the DAO pays out in HBD not SBD. So unless if the payouts are converted to HIVE it has no impact on the Hive supply or it's price.
Doesn't matter. I'm also a buyer of HBD if it drops sufficiently as it always gravitates towards 1$.