Hello SPIers, huge news! The DHF return proposal has been voted up to over 60 million HIVE POWER and currently, the only thing getting funded is Ecency. This has flipped the script and DFH might never be the same again.
In an instant, 13 projects have lost funding totalling $24,943 a day. The HBD Stabilizer and Value plan were both getting funded with $10k per day and this makes the bulk of what was being paid out. For the remaining 11 projects, they were receiving between $50 and $665 per day totalling just under $5k. These are ballpark figures.
Yesterday the DFH had a daily cost of $25,339, today it is down 98.5% to $396 for Ecency and in 27 days it'll be $0 when their proposal is fully funded and finishes.
Im sure this is shock to many reading about this for the first time.
Why?
- The short answer is @blocktrades voted up the return proposal with 26 million HIVE POWER.
- The long answer is something Blocktrades only knows. I personally have no idea but im sure they are very aware of the impact their vote would have and it's a calculated move.
Is This Good are Bad?
If you were asked this question a week ago, im sure your answer would have been strongly on 1 side are the other and very black and white.
- If you are pro return proposal, this is like the ultimate win with pretty much nothing getting funding and the bar being set so high.
- If you are anti-return proposal are have an active proposal, this is the worst-case scenario for many.
Now that the return proposal is voted up to nearly 62M, your feelings might become more grey as you see projects that everyone uses like KeyChain not getting funding anymore ($600 a day is a bit much for a browser extension to be honest). Im sure alot of us will be happy to see some things not getting funded while at the same time thinking other things actually do deserve funding.
Is this good are bad? Time will reveal the answer
My thoughts
We might see alot of projects that have just lost funding putting out posts to promote themselves and explain their situation. Some will beg for votes, others will adapt and continue on with less money and a few might threaten to quit and wrap up their projects. We'll find this out over the next few weeks.
Now that the bar to receive funding from the DHF is so high, the chances of someone are a group of people being able to manipulate it is lower which is excellent for our decentralized chain. This might entice more users to vote on proposals they like because they will feel like it's less manipulated and a more even playground with larger accounts having less impact.
My thoughts are mixed, maybe like 70% good, 30% bad. SPinvest as a collective will continue to only vote for the return proposal but might reevaluate this in a few weeks/months after smoke clears. I dont see SPinvest ever voting on individual proposals but we might consider removing our vote from the returned proposal to be become neutral. We would run a poll vote post to decide together and im happy to do whatever investors are good with.
Most Importantly! What are your thoughts?
Share your thoughts below in the comments, im sure this is a shock to many finding out about this just now. Do you think this is good or bad, what impact do you think this will have short/long term? Let me know
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I just got a message about it on discord, that it finally happened.
It's a very good news!!! It would had to happen long time before.
Just in the last year, valueplan alone sold 10m+ HIVE. The amount of HIVE on exchanges is very alarming. It's already in a downside spiral, and will be hard to get out of it, but this is the first step to do that.
Of course, now people have to understand, it won't solve anything to pull their return prop vote!!! Keep it! And vote for the very few projects what are actually necessary, or adding value to Hive for the money they got from DHF. (not maintaining already existing apps, front-ends)
Even like this, only 40% of active HIVE POWER is necessary for proposal acceptance!!! (and around 30% of total HP)
The previous version was ridiculous, even the crapiest European govs can't govern with 15% of support...
Not to mention, not serious private individual would ever spend money for HIVE, in case he knew about DHF 'system'. And obviously, not any investor, they max laugh a good one, when they see this 'system'.
Thankfully, the money for nothing time is over!!!
I highly recommend to everybody, read through the last 1-2 months of stats, what @dalz made about HIVE!!!
What is the Share of the Hive Power That is Actively Voting/Curating? | Dec 2024
Great feedback, i also watch the posts coming out from the dalz account, that guy is a wizard.
Good news! Less sell pressure. Also less bore holes, but anyway Hive is not a drilling (and charity) company.
There is now a theoretical chance that some people who have benefited from the now unfunded projects leave Hive and sell off what they have. But I guess this is much less than what was paid out in the past.
If this vote stays then people need to professionalize and come up with real projects including a proper documentation and a detailed way of how to evaluate the impact.
BTW, any consequences for the hivebuzz meeting in Graz, @reiseamateur?
Facts! This is a good thing 💯
I think this is a good wake up call for a lot of projects. The days of milking the system for personal gain are at least on hold for a bit. You can't look at some of these proposals and what we are getting for the amount of money going into them and tell me they aren't inflated. Many other proposals only need a couple more million shares to get to where they need to be. With some adjustments and lobbying, that shouldn't be impossible.
Cool feedback, as you say this should shake things up and get a few people hot under the collar.
It seems they have already capitulated, so it doesn't really matter... sad...
In the short term: good!! FUCK the value plan absolute horse shit. Those dudes were literally throwing money into the fucking trash and providing no evidence of benefit and also no receipts for anything they did. Absolutely abhorrent.
Long term - I wonder if this is going to stay or change. Perhaps blocktrades was upset about the terrible value plan shit and decided to just nuke the other proposals along with it? Hard to say!
Yeah, i agree the Value Plan is crap.
Will be interesting to see if this vote stays. Will be interesting in a few weeks to see the outcome.
I am on the side of thinking this is amazingly good for Hive. I am all for BT putting the ninjamine out of reach of everyone, except those projects that are able to convince the entire community to unite in support for them. This is how it should have been since the beginning.
It’s very very good!
We are bleeding value because of the waste getting paid by DHF. Cheers to a needed move at least forcing the discussion!
I've seen a few comments on Discord that share your thoughts in regard to the ninja stake. Hopefully they keep it voted and dont pull.
Well HIVE doesn't seem very decentralized if 1 persons vote can affect the entire chain.
It’s pure example of decentralization. It’s stake based system.
I love it. The DHF is printing way 2 much. People gotta wake up and get involved and vote. Many accounts don’t bother. There’s a couple things I support now below the return but also a lot of scammy trash that is no longer funded. People gotta get involved, 2 many accounts don’t even bother voting. Hopefully this wakes some up.
Looks too me like BT is in charge. That's not decentralized.. that's just another Zuckerberg.. not that I disagree with his action..
I hear ya 💯
Looks like it’s all back to b4. The scammy non transparent stuff like Value Plan is again funded. Return is bask to 30 something million
!PIMP
🤫
My bad.
As long as Value Plan can no longer get funds, it is good news (for now).
Straight to the point, i like that 😁
Me likey! Me likey!
Been hoping this would happen, the bleeding needs to stop. No accountability for any DHF ever and too many producing FAR too little for the insane sums. Shit, I'd love 10K, 20K, 50K, 100K HBD that some are asking for.
Yeah, i hope forward maybe projects seeking funding should be more transparent with how they are using the funds.
Facts!
It’s about time time… those complaining it’s not decentralized move are just wrong!
It’s a stake based system! This is pure decentralized governance. It’s proof of stake system and anyone complaining doesn’t understand that or is just being a child!
We could do a 1 account = 1 vote?
We might see millions of new accounts created out of thin air, lol. Yea stake based seems best i think :)
Personally I love this!
600 are maybe a lot, but Keychain is not only a Browser extension. It also an App.
I think a lot of User use it on their Phone.
It is the best thing to use everything hive has, without the need to use somewhere your Keys, it works on every site.
Hivesql will not work for free, so some Part of my site hivegadgets.com will not work. I won't be able to pay it.
This could happen to other sites also. Maybe many things we have used will not work soon.
And if the community finds it valuable they will support it. The waste at DHF needed a move like this.
The problem is that the community may not realize that it is worth it until it is too late.
Yes, there are some who are not worth it (Hivewatcher), but there are others who are more than worth it and without it, hive could suffer a lot of damage. I fear this is coming.
Yea, Keychain is alot of things and very important to alot of users, thats why I used it as an example.
Thank you for the quick analysis. I believe that this movement is part of the game and we will quickly find out who has the most to gain from it.
It is already clear who has the most to lose.
It will be very interesting to see what happens over the next few weeks. How the community reacts after it all sinks in.
I still have a lot of doubts about whether this is good or bad, really only time can tell, but I agree that if there are projects asking for a lot of resources and in this case it would be possible to cut back, reduce the expenditure and investment needed by the dhf, fine, that's right, but what worries me most is the hbd stabelizer, I think that should go too
I dont know tons about the stabilizer, all i know it costs 10k a day which is...
Hopefully going forward, projects eeking funding will need the full support of the community and this is a turning point.
Having HBD stable is super important and this proposal was the only reason it didn't depeg during the bear like it did last cycle. But I agree that other proposals were a waste of resources
I think in short it helps to maintain the value of $1, so I think it's important to attract or keep people, like if the value of hive melts and hbd falls to well below $1, I think it would be a very bad and dark thing for everyone who loves Hive. Money and resources aren't everything, but they certainly help to keep people's spirits consistent.
It’s very good 👍
It seems that it's really better to vote for proposal 0 and thus leave its approved value up there.
Simple. I think it is funny! 🤣
The idea that the Hive blockchain provides participants some masterclass in decentralization is ?...? Hmmm. Let's see. What word(s) would we fill in here?
Lots of great entertainment value, in the days and weeks to come ...
... to see this play out. I can only imagine what games are about to be played ...
Its stake based system as always. This is literally decentralization at its purest.
You are obviously welcome to your opinion. Here is another one ...