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RE: Why Hive is Perfect for Staking

in #pimp4 days ago

I stake enough to have the resource credits I need to do the things I need to do on the network. That's it. The whole DPoS thing is really nothing but a popularity contest. Plus the fact that only 20 witnesses plus the rotating backup actually produces blocks, it concentrates too much power at the top, and most of those people are not really that active as far as voting and spreading their votes around. They primarily concentrate it with their other whale buddies and causes a huge centralization issue, has ever since the Steem days.

After seeing it from a different viewpoint as a Cosmos ecosystem validator and saw how the flaws were the same in both ecosystems, it's really not a great consensus mechanism. Just helps the rich get richer as with everything else and is nothing but a popularity contest. Sure the little guy can earn some crumbs here and there, but most of these tokens aren't worth a shit anyway, they are mostly all just vaporware. This is NOT the case however with proof of work systems, which is the superior consensus mechanism, hands down. The machines just turn on and run and do not care who has what and who is friends with who, it just does it's job and works.

Another reason I don't is because I hate the fact that people can just go in and see what you have, the transparency is far worse than Bitcoin or anything like that because well, hell, some of us use our actual names which is HORRIBLE OPSEC with cryptocurrencies. I can't say much because this account has basically been tied to my real world ID, another reason I go all into XMR. It's honestly none of anyone's business what I have, which is why much of my rewards end up in Monero. Someone shouldn't be viewed as 'trustworthy' or not based on the contents of their wallet, it needs to be judged by their content and their efforts to further the chain, which unfortunately really doesn't happen, and is a HUGE flaw in this ecosystem.

That's just my 2 satoshis on the subject. Take it as you will. I am only here these days to post my FPV drone videos.

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