The proposal payouts? They are fine for now. Personally I was against the SPS but I'm glad we have it now that Steemit Inc is gone. @justineh triggered a lot of people asking for $500 a day for 2 months. I think if she had asked for $100 a day for 10 months no one would have questioned it.
People just kinda assume we got a bunch of exchange listings for free without anyone putting in the legwork, and then they just want to run around judging the ones who did all the work because they asked for compensation? I call bullshit. The network has spoken; she gets the money (as predicted). End of story.
I'm still against curation and the convergent linear curve, but I think the Decentralized Hive Fund is going to end up paying for itself many time over. I think the value and incentive generated there will increase the market cap of Hive, and that same increased market cap will generate even more HBD for the dev fund, creating a snowball effect that could launch us to the moon and beyond.
Bitching about $100-$500 a day here or there is incredibly small-minded. How many HBD would we be creating a day if we had a trillion dollar market cap? That's where my head is at.
Also, many fail to realize that devs are EXPENSIVE. Bottom-of-the-barrel entry-level untrained devs can get a base salary of $80k a year. Blockchain devs are even more coveted at like $140k a year. A blockchain dev with extensive experience in the tech you're using is easily worth $500k a year. That's $1900 a DAY. If I could get Dan to work for me I'd pay him $1M a year. Something to think about.
Wow....just wow. Extreme nooby question, i want to be relevant in blockchain programming, please where can i start from.
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Well if you wanna do web pages, ya probably gotta know some JavaScript.
If you want to learn the Condenser API I did a few tutorials on dsteem back in the day.
https://peakd.com/utopian-io/@edicted/dsteem-tutorial-lesson-6-the-power-of-blockstream
That's the last one I did but it has links to all the others.
There's also another API called SteemJS that used to be the default.
If you want to run a server Node.JS is pretty useful.
A good chunk of people use Python here as well.
@holger80 writes a wrapper called Beam that allows Python to interact with the blockchain.
I get that, however, this isn't Microsoft or even Blockone paying these salaries. This is essentially a start up with no revenue. These developers may be "worth" that in some places, but to a start up company (which is essentially what HIVE is at this point) paying people top salaries like that will ultimately kill the project before it can fully stand on its own two legs. And, we aren't paying people a couple hundred HBD per day btw, if you go look at the current proposals we are paying out north of $2,500 per day already and that number keeps climbing. What happened to people building on the chain because they have a stake and they want to see that stake increase in value?
You may be right that some projects could ultimately pay for themselves many times over but the majority will not and with that amount of HBD being doled out currently that gets sold on the market eventually, keeping HBD below a dollar and forcing conversions of HIVE to bring it back up, which ultimately drags the price of HIVE down. In fact I would venture to guess that is part of the reason HIVE is having such a difficult time going up right now. Yes the proposals are paid in HBD, but that ultimately comes out of the market cap of HIVE.
I am not against the SPS/DAO per say, but I am seeing projects that aren't going to pay for themselves being funded and I have a feeling it is going to get worse from here... Though I do admit there is the possibility of something being built out of there that pays for itself many many times over, as I alluded to before. And btw this wasn't targeted at any one project or person but more some general overall thoughts on things.
This is why I was against the SPS in the first place. I told everyone it was painfully obvious it was simply a way to siphon 10% more of our inflation into the hands of the witnesses. It was supposed to be the witnesses salary itself that funded development in combination with the ninjamine.
If you are outraged now, just wait until they start siphoning the ninjamine into their own pockets when it should of been destroyed:
Fuck: Never Send Humans To Do A Hobbit's Job.
That is the real threat at the moment. Instead of destroying attacking stake the elite siphons it into their own pocket claiming it was "meant for development"? bullshit.
Exactly my thoughts as well. The witnesses are already collecting many times more per month than it costs to run a witness node, even at the current HIVE price. And now they are the majority of the ones applying for (and getting) proposal funding... some of which is likely to eventually come from the STEEM ninja mine as you alluded to.
It's great and all if someone builds something that adds tremendous value, but those are few and far between thus far and many of the top witnesses are the ones receiving all the funding. The rich are certainly getting richer.
I don't have a problem with the SPS and DAO, but the amounts people are applying for and getting right now are pretty ludicrous considering that HIVE has zero revenue and the project is only a few months old... my opinion is we need to pump the breaks a little here until we have something more sustainable...
Also, anyone with enough stake in Hive should be willing to work for free. That's the beauty of crypto, you can profit on products without capturing any value. This is the entire point of the open-source economy. It's something the legacy-economy will never be able to do.
Yep exactly. That was the whole point of this and same with bitcoin. There is no SPS/DAO for bitcoin. If you believe in it you acquire stake and then build to increase that value over time. I see a worrying trend with HIVE already and if it continues it has me seriously considering selling my position here as we can't keep pulling the amount of money we are out of HIVE at the current life cycle of the project and expect it to last very long...
At the same time I think we have to put this money into perspective. The DHF only accounts for 10% of our total inflation, and our inflation accounts for less than 10% the total amount of coins in circulation. In my view it is really only the ninjamine we need to worry about, and even that can only be spent once.
Doubling the value of Hive would pretty much negate any kind of bad fund allocations, and I don't think it will be very hard to double the value of Hive. Bitcoin does it every year.