Decentralized Development: Every dev will be freelance.

in LeoFinance2 months ago

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Very few seem to understand where this is all going.

We are so early in the game dev teams are still 100% centralized and highly ineffective in this decentralized arena. Just look at Ethereum. The Ethereum foundation has a huge premine and seems to grind out code at a snail's pace. Why aren't more devs helping with the core protocol? They have no monetary incentive. All of this will change when we transition to Web3. In fact, it might even happen before then.

No one is a stranger to the current alt-market. ETH is killing it. Why? Probably because the SEC ruled long ago that ETH, along with BTC, is officially "not a security". This means corporations can buy as much as they want and they don't have to report that they stacking securities on their corporate balance sheets. This is a huge advantage on a legal and regulatory level.

It becomes clear that as many corporations start to stack Ethereum, they will do what many corporations do, which is crank out open source code free of charge because it greatly benefits themselves. That's the kind of craziness that's coming to crypto. The "evil" corporations themselves are about to jump on board and start creating value out of thin air, as they often do. However, this time they will control the money directly rather than bending the knee to central banking. That's a helluva lot of incentive to allocate more resources to this emergent economy.

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Barring that inevitability...

Development itself will become greatly decentralized. Code will be reviewed and refactored ten times over. Crypto will always incentivize robust redundancy and simplicity.

We are heading towards a world where everyone is their own boss. The gig-economy is coming to crypto in a big way. There will be jobs/bounties out there that pay a certain amount of crypto, and it will be up to the community to pick up the contracts and complete the work. There are an infinite amount of ways this could go down. The traveling salesman problem is in full effect. There will be no correct answers: only "good-enough" solutions.

I'll know it when I see it.

And what I see now is a sour disappointment compared to what is to come. I'll be sure to invest quite a bit in any network that is actually able to organize a system of decentralized freelance work. The logistics of which are far from trivial.

One of the biggest advantages of Hive and DPOS in general is governance. We can do governance x100 times faster than other networks like BTC/ETH. That is the nature of DPOS, and while many think that voting when stake is a farce that is bound to implode, I know that the heathy competition in the space that can't be regulated into the dirt will keep most projects honest.

So imagine a time when we can complete a job on a crypto network and it pays more than our day-job. There will be a mass exodus from the corporate rat-race once we figure out the good-enough solution to this problem.

It will force corporations to pay their workers more because there's finally another option for workers to make more. Crypto will force struggling and outdated business models to fold. The likelihood of crypto being blamed for the faults of the current broken system is around 100%. These entrenched institutions haven't had to deal with real competition for generations. They are soft and weak and will be made irrelevant no matter how much kicking and screaming they employ on the way out.

Conclusion

The results are in: people don't want to risk their hard earned slave-wages on the most volatile and risky assets on the planet. People want to work for fair wages. Hive already is leaps and bounds ahead of the competition. How many other networks can you earn crypto? I'm struggling to think of any.

Not only are we ahead on the "get paid to work/play" arena, but also we are ahead on governance, leadership, and directional issues that arise in the face of decentralized disorganization. Hive will be a place that users come to earn money, not invest it. This is why inflation itself is the killer dapp. The deflationary mechanics that many people think is so smart will be the ultimate "downfall" of many coins in the top ten. More on this in my next post.

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It will force corporations to pay their workers more because there's finally another option for workers to make more.

This will have the biggest impact in developing countries, where workers can work on any decentralized project without needing to arrange Visa sponsorship to a developed country.
Since decentralized development work can be done from anywhere (by anyone with enough skill), it will be outpace other options in developing countries long before it will challenge the status quo in developed countries (although realistically that will challenge the status quo early because most companies above a certain size have both 'onshore' and 'offshore' development teams).

Corporations that perceive particular value in having on-site workforce (like the googleplex) will continue to pay a premium for bringing their workers on-site, and it will take longer before the rewards available for decentralized development are sufficient to challenge them.

There will of course be exceptions to this... on DAO's like Hive, proposals are much more likely to be approved for whales than for non-whale developers in developing countries, even when those whales are asking for U.S. equivalent payment levels. In effect, part of their DAO-paid value capture is an unseen reward on their stake, not just payment for the work they're doing.
While it may be possible for non-whale developers to get onto those teams, their work is much more likely to be paid through traditional contract-arrangements, not paid directly through the DAO.

I think we can already see it impacting undeveloped countries. Not in the big ways to come... like national news level crumbling of governments and powerstructures big, but it's there. I recently heard (but didn't confirm) Hive already out values every South America country's currency. There are people in Venezuela who could double their quality of life (probably several times over) just by playing Splinterlands at a top tier level.

Lately I see people posting about how they earned enough Leo to buy enough food to last a week and I see posts of people clawing their way out of poverty by staking and re-staking returns.

I, personally, ended last year with about $3k in digital assets. At present I'm sitting around $10k and probably surpassed $12k at the height of this last bull run.

In the last two years I've moved from likely to die broke and destitute to looking forward to an early retirement so I can really get to work building my own personsl empire designed to educate and advance the world.

Where else would one hear something like this?

EDIT to add: ...And I’m not just talking about the financial freedom. I’ve also been hugely impacted by the people here. Every day i hang out here I learn something new and amazing. Taskmaster4450 alone has posted several videos or posts that have not only changed the way I thought about something in particular, but changed the way I see things in general, and he’s not the only one. I’ve grown more here in the past years than I did in the two decades that led me here. Hive doesn’t just offer financial freedom. It offers the tools to carve your own path to personal sovereignty and in time it’ll be the tool the meek use to inherit the earth. There’s just no going back, now. The seeds of the future have been planted in the present. 😁

I don't know, if I am not from planet earth, but I am opposed to being submissive, I would rather have no fixed income than die as a slave of a poorly paid job! I love your content , glad to meet you , let's keep shouting until the world wakes up ! Hive is Hope and Power!

I'd love to hear your thoughts on what role the Hive DAO will have to play in this?

It had such fanfare around it when Hive first split, but I couldn't name a single success story that's been build on the back of funding.

Why can't Hive get it right?

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We aren't providing money for work completed.
We are just giving people money and hoping they do the thing.
It's a simple failure of paying for time rather than paying for actual results.
It will take some time to figure out logistics that will fix the problem.

Seems a pretty straightforward fix to a layman like me...

Is this something that our witness overlords talk about changing? Anyone a proponent of making this change that we should be voting in?

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It is not up to the witnesses to determine what gets funded, it is up to the stakeholders (everyone that has any stake). Only around 30 million hive votes on proposals but there are 140 million staked. It's more voter apathy than anything else.

Nobody wants to vote because you have to trust that the work gets done WHILE they're being paid.

I'm asking whether it's on the cards to possibly switch the system to only paying out once the work has been completed.

What's happening now isn't working.

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Ironically it may not be up to the witnesses after all.
The easiest way to fix this stuff is to prototype it on a permissionless system.
I believe the problem will be solved with some other random token built here.
Hopefully it's my token, amirite?

I'm asking whether it's on the cards to possibly switch the system to only paying out once the work has been completed.

The whole point of funding proposals is that who ever is working on them does not have the resources to complete them. If they had the resources why would they ask for funding in the first place? Imagine someone putting time and effort on a project only to find that the stakeholders do not approve the proposal.

The way the system is setup right now people get partial payments and if they do not show any progress we can remove our votes or vote on the return proposal. With the current setup there is always the risk that someone will not do the work and get paid anyway but at least we can stop the payments when that happens (not to mention the hit on the reputation that someone would take for that).

We already have an example of a former witness who lost funding for his project along with his spot as a consensus witness.

How exactly would you improve the system? I am not talking about code but the mechanics of it.

Many are so brainwashed by the legacy system. Earning instead of investing in crypto will be the way for true abundance. In the coming years Hive will sell itself. People need income and not another gambling Dapp. :)

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My bags remember a similar idea, Bounty0x. Complete failure of a project lol. Don't doubt that something like this is possible, but not sure what it will take for it to become a reality.

First it takes a centralize authority to bootstrap the concept.
That central authority decides what needs to get done and who gets paid what.
Have to decentralize the governance from there.
Also Quality Assurance is a top priority.
Validating good work will be difficult and expensive.

To add to what you are saying:

1.During the .com bubble everyone was jumping on the web bandwagon. Every company wanted to say they had a website or had something to do with the world wide web to make their stock price go up. I think that something like this will also happen crypto.

  1. If you have been to any country you know that there is X% of your payment that goes towards paying the middle man, slippage, and corruption. This would be less due to the mechanics of smart contracts.

  2. Decentralization sounds a lot like more freedom.

How many other networks can you earn crypto?

We have a quite a few right now but I think HIVE is probably the best crypto earning site though. For example, Publish0x, noise/read cash and even games on WAX. But I think I earn more on HIVE than the rest of them combined.

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yeah I know there must be quite a few but the rewards are paltry at best.

Unfortunately it is true. But I think if we are considering games, I think I am getting a decent amount off the RPlanet defi stuff for NFTs. But I have no idea when the exchange prices tank and my earnings tank to crap again.

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Lol, I’m writing an article related to this. I’m a developer and I was thinking about freelancing, getting paid in crypto and decentralized work. I’m glad I am not the only one who realized.

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Not only are we ahead on the "get paid to work/play" arena, but also we are ahead on governance, leadership, and directional issues that arise in the face of decentralized disorganization. Hive Fiat will be a place that users come to earn money, not invest it. This is why inflation itself is the killer dapp. The deflationary mechanics that many people think is so smart will be the ultimate "downfall" of many coins in the top ten cryptocurrencies. (Fed Chairman Edicted, 2021)

lovely

Fiat inflation is controlled by a centralized entity.
It's impossible to compare fiat inflation with crypto inflation.
Yet everybody does at their own peril.

Decentralization is a spectrum

You are fully bipolar aren't you?
Finally figured it out.
Your manic phase will be back in no time.
I'm in the middle of one myself.

No, I keep getting more bearish. I haven't really found a fix to that yet. 2017 must have really gotten to me.

Ah well my guess is 2022 will be even worse.

you have said it all, this idea will really get big and solve a lot of unemployment in developing nations, lets all cheer for this idea and do something about it. There might be deves here that can see this and gather something around. If you find any project thats building this product, share with us and thanks for the well informed post

Hive already is leaps and bounds ahead of the competition. How many other networks can you earn crypto? I'm struggling to think of any.

Not only are we ahead on the "get paid to work/play" arena, but also we are ahead on governance, leadership, and directional issues that arise in the face of decentralized disorganization. Hive will be a place that users come to earn money,

Am I the only one who hears a motivational locker room coach voice here?

I love it!