That's why I see this as really an MLM.
False. Your tokens are given value to by speculative traders on exchanges mainly trading HIVE against BTC. They gladly do that even while the total inflation is arouns 8 percent a year because the volatility of the token completely dwarfs that.
I don't refer to the token. I mean the system. Those who sit comfy with bags win no matter what. Those who enter at the lower ranks got to work like fools to win.
I mean, not like those Twitter initiatives aren't essentially a very cheap marketing formula. Hiveposh not even giving out real tokens.
It's nothing like a MLM scheme. Any stakeholder benefits from any increase in the token price in linear proportion to the size of their stake.
Not any more than in any other context.
Or they can buy into the system. Another possibility is to create a system of their own of which they become the founders and largest stakeholders.
Any stakeholder benefits from re-posting their posts to Twitter. It's very easy and quick to do. Besides, it increases the likelihood of getting a vote from @ocdb.
I don't think it's giving out any tokens, yet. But it's a great idea. The plan is to buy the tokens that all the re-posters earn back with funds from the project. There may be a Proposition that, if approved, will be the source of the funds.
Guy I guess I confused you by saying "the system" because yeah you're right it's not actually an MLM system.
I figured a person would realise though that the comparison is not 1:1.
It's an MLM by the system of onboarding and growing the platform. It relies heavily on
Something which by default attracts the bottom dwellers. Because honestly, they're the only ones desperate for rewards from such an initiate.
I'm curious then.. what is your opinion of an MLM formula for onboarding. Do you see any flaws or do you think it's a good formula?
You seem quite persistent at trying to apply that term to Hive one way or the other.
Let's see:
If you've been here through the bear market, then you'd be likely to believe the platform has a future.
I don't think most people around here have done anything to onboard anyone. There is no incentive. When Facebook was new, I saw greater enthusiasm to get family and friends join it.
This is crypto. Those of us around tend to know that come a bull market, the token price is likely to go much higher than now, largely due to the market in general rather than anything we do.
Why are you so bothered that I called it MLM.
You bring up persistent..
This is now odd that it's like I personally offended you.
YES I WILL CALL IT MLM.
You're not under an obligation to do so though. So what is it you want to achieve here.
Because clearly we disagree.
That's that.
Not really. I don't even know who you are. I'm just trying to educate anyone who reads this. Believe me, you're not the first one to labor under the misconceptions you're currently laboring under. A lot of Hive (earlier Steem) users do not have a clear picture of how the system works. It's something so novel and complex that when people encounter it, they do not understand it and what people don't understand they are often bothered by, which is when they ascribe many negative labels to it that they are familiar with.
If you follow the value, you'll notice that it flows from the speculators who hold the 200 million liquid coins of which 100 are on exchanges to Hive Power holders who control the reward pool. Hive inflation is like an eight percent annual tax paid by the speculators operating on exchanges. They pay it gladly because the immense volatility of the token completely dwarfs it. The difference between the all-time-low of STEEM (7 cents) and its all-time-high ($8.5) is 124-fold. Hive, which is a continuation of Steem, is not a system where earlier joiners make money on the back of those who join later. It's a system where all HP holders make money off the back of speculators who are an entirely different crowd.
The account creation referral system is a very new thing and it is a very small part of the whole. The value gained by that does not go into the pockets of the large stakeholders but anyone who is successful at onboarding other successful onboarders.
[...]
It's within your rights to stay ignorant. I'm talking not only to you but anyone who will read this in the future.
WTF??
Are you serious man..
And you try make a point of my persistence.
That's embarrassing that you can't let it go.
This.
Nothing more.
That's my point that the onboarding has taken on the MLM FORMULA. My point was never about everything else. You assumed that and I clarified. Yet you continue to try make it be the point.
You even agreed with my point in your previous comment when you said you don't even think that Twitter initiate is successful.. LOL ... that's my point.
That MLM ONLY ATTRACTS POOR.
You've amused me with your cult-like belief (so yeah thanks for putting that there for all to see lol) and it's for something that isn't even working for you.
I mean you post "quality" right..
Why rewards avoid you like moms avoid Tupperware party invitations.