Is the HIVE proposal system being abused?

in LeoFinance2 months ago (edited)

Pretty interesting post was reblogged by @neoxian to my feed. It's a post from a user called @giraff. I have never heard about this person, but that's because this account was created a few hours ago.

He pretty much said what I was thinking all along.

It's a post about @netuoso, a witness and also a user with 2 active proposals in the HIVE proposal system. Netuoso is ultimately collecting 425 HBD daily from it not including the witness rewards. That's okay if there's actually something being done, but if @giraff is right then @netuoso is getting paid a lot of money for doing nothing. Not good!

Some sentences from the article itself:

He hasn't done any work for months on either vessel or on hive and yet he is still getting 3000 hbd every fricking week.

On vessel between may and now he wrote about 200 lines of code, for a feature (saving account support) that wasn't even released, and during that timespan he was paid 150 HBD per day, that's more or less 45hbd per line of code. A bargain for the hive community !

Why are you still supporting him paying him about 12 000 hbd per month when he is clearly not doing anything ? Oh and if that wasn't enough for you, most of those 12 000 hbd are added as sell pressure :

The problem I have with the HIVE proposal system is that it's very hard to know if the developers are actually working on the proposals or just slacking and collecting the payments. If it's a proposal that takes a few HBD daily from the system then it's fine in my opinion to not stress about it, but if it's much more then I would actually like to see some results and activity.

For a reputable person like @netuoso it must be pretty easy to just create some proposals, let the users upvote it and then keep the payments coming as long as possible without any work being done. It feels like the HIVE proposal system and even the witness voting is still only a game for the big whales.

Could the proposal system be changed somehow to actually reward work being done? There maybe needs to be a voting power decay of some sorts so the users will actually have to refresh their votes and maybe even check if they are still okay with supporting the proposals they picked.

What do you think?

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Where there's smoke ....
Just removed my witness vote for him.

Being self employed this coming october for 23 years, up until this day I always have been paid AFTER a job well done.
Here it should be the same. I say: Result-Based Proposals, and paid after a satisfactory or proven outcome.

I agree. The current system relies too much on the recipient being honest, the supervision not lax and the decision making being decentralized (which it isn't, yet).

I agree with both of you. Just because someone is on HIVE a long time doesn't mean much.

I wrote about this very topic just the other day: https://peakd.com/hive-174578/@cryptoknight12/accountability-needed-for-hive-proposals-governance-series-1

There needs to be an elected police for hive. Hive auditors. A check and balance system.

As of now, it's a popularity contest with no assessment on value received. Real companies have earning reports and have to show stakeholders how projects have driven results.

The DAO should make an initial payment for development and then the rest for objetives accomplished, not for month, the way it is now is a joke to the accountability of the blockchain, easily manipulated by whales. If we don't change this system now Hive never will take off.

I completely agree with you.

425 HBD a day to do nothing DAMN and these witnesses bitch so much and attack people who speak out and just act so wild in general and yet....
its like a literal ponzi when you look at the system data.
#hiveponzi
We needed a new proposal system YESTERDAY.

425 HBD a day, if liquidated earns you 6 figures. You mine as well be working full time in a high talent position. In those positions, people know what you're doing, your boss holds you accountable. Who holds this guy accountable. Other hive witnesses. The police policing the police. That's a new thing we're learning doesn't work out so well. An elected no-interest 3rd party is needed

Think about how that effects the market. ugh

Working as intended I'd say. Voters should always keep an eye on developments. That said, thanks for highlighting this issue

The stake distribution on Hive isn't decentralized enough. The talk about dialing down the base layer inflation has to stop. This system isn't nearly ready for that. Centralization is the hallmark of a shitcoin. I'm afraid we're still in shitcoin territory although slowly coming out of there.

Couldn't the voting decay help with this?

Not really. It comes down to stake distribution.

Couldn't the voting decay help with this?

One of the @netuoso's proposals is now out of the game so I feel some people actually still give a damn.

One of the @netuoso's proposals is now out of the game so I feel some people actually still give a damn.

One of the @netuoso's proposals is now out of the game so I feel some people actually still give a damn.

I just checked and he doesn't have my vote. I try to vote for people who I can see contributing for proposals and as witnesses. There is an issue that most people are probably not voting at all and those who do rarely check up on things. I saw someone recently say that he was voting for a witness just because they actually showed they cared about some discussion over on Twitter. There are inactive witnesses who still have votes, so people should review their votes.

Do what is best for Hive!

Have a !BEER

This is exactly a reason we need a voting decay.
Let's finally get rid of these old casted votes that are keeping some of the witnesses still on top.

wasnt he the one who maked the Whive happen recently?

No, it was done by @fbslo.
He didn't need any proposals or anything for it - he just did it.

shit 425 HBD that's a lot of money for nothing

Not too shabby.

I usually don’t support many of these proposals. I don’t know enough about them or the people saying it to vote on them. Thankfully I didn’t have votes for either of Neutoso’s proposals but I’m glad that he’s fallen out of favor with the hive gods so he’s not up there.

Some of the proposals actually do make sense.
You should check them out.

A fundamentally oligarchical system, working in an oligarchical way....

Ummm..

Now, who'd d have thought that would ever happen? lol

The naivety in this place never fails to astound me.

There are also Oligarchs here, they are like Prince(s) or Kings and this is their Kingdom.


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