I am Quickly Losing Intrest in Hive

in OCD10 months ago

We live in a world of rapid change, constantly being introduced to new innovations and technology. The quick pace of development has made us use to and expectant of constant improvements. We want more for less and expect better quality.

With much of the world shut down, I thought we would be seeing drastic improvements with HIVE, yet nothing significant is happening. There were a few exchange listings and some developers act as if it is a major achievement but this was only done for the profits of the exchanges -besides STEEM already had these listings.

I am using this boost to sell my HIVE\STEEM as quickly as possible and have sold more than half of it. Luckily for sellers, the recent fork and exchange listings have put many of us well into the green. Now is a great time to exit one's position. We haven't seen anything like this since 2017.


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Could it be that I am just bored as most of my inspiration is lost being stuck inside? Not at all, recent market volatility and a stock market crash imply there are better places to invest. I have been spending most of my time analyzing stocks. A few hours spent researching is much more lucrative than blogging. Market conditions are the biggest reason for my lack of interest in HIVE or STEEM

Most of the Steem/HIVE Rewards are going to the same accounts. It does not matter that Steemit Inc. is not benefiting from HIVE, we have new masters now. Those that split the chain and the whales are entitled to most of the rewards. Everyone else is an unworthy number collecting dust. Whenever I get into an argument on the HIVE discord, some witness or programmer basically says they rule over all things HIVE so #$%@ off. HIVE has terrible customer service.

In the stock market, dividends are divided equally, on HIVE, it is all about who you know. The wealthy vote for other wealthy people, they support proposals to develop wallets, the DAO is completely and utterly broken. It is solely an excuse to take more rewards from users. Let's spend 1000s of HIVE per day to make better wallets! It appears as if that is all they are doing. Major witnesses and whales can pay their own server costs, they are making 100s of hive per day.

Whether it is Steemit Inc. or a group of HIVE witnesses, whales and their friends making all the money, I don't really care because it isn't me. This is going nowhere fast and we will probably never see the $ value highs of last week ever again.

/rant

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I get your point and I agree with you to some extent. Especially this part:

"Rewards are going to the same accounts"

That is very true. I have seen pretty awesome curation going on though, but the "inner circle" or whatever one should call it are still pretty much the same people. The same guys are voting on the same users back- and forth, over and over again... But I can't see how that would ever stop or change, so I am just glad to see all the positive vibes across the platform.

If they don't like you, they will shun you or fork the chain. Positive vibes are great but they will dissipate as the excitement dies down. Now all there is to look forward to is SMTs but I don't really understand what all the hype is about. We already have tokens and most of them are useless.

Haha, I've never understood all the hype around SMT's either. It obviously sounds cool and all, but I doubt that SMT's would suddenly raise awareness and moon both Hive and its tokens. I mean, if that were the case, Steem would've launched SMTs a very, very long time ago. I doubt Ned and/or Dan actually wanted all of this to happen with Steem, so they would've done something to "fix it", if they could.

Well, that's how I see things. And yeah, I know that much of the positivity we see right now is due to the recent increase in price and that it's just the "honeymoon" phase. What happens after is what really matters.

When I first joined Hive in late 2017, bitcoin and the altcoins were all having a run. I was making more money trading cryptos than I was blogging. I didn't know anyone or have experience blogging. I cannot say the same thing now. Except there is a lot of potential in the stock markets and cryptos seem to be waking up.

As for Hive (or Steem), it's still based on the price of BTC, so I value it relative to BTC. If I can make more money investing in BTC why not?

I do like having Hive though because I notice my curation and inflation returns are always increasing, especially if the price rises. The rewards are far from perfect and a ton of people have acknowledged this. The DAO is also a little off. I'm also a little confused about some of the proposals, but most of the really weird ones aren't funded. However, I do think developers' files/resources and even server maintenance costs are good.

That said, I'm not planning to power down everything (except Steem), but I am removing some of the investment that I bought with BTC and powered up which was over half all my HP. I've decided that for now, I will remove exactly 12.5k Hive (the amount I bought on exchanges like Binance). The Steem I sell on top of this can be considered a healthy profit. I'll definitely be ahead of the game both in terms of USD and BTC.

The reason I'm not leaving is because I've seen my rewards go up a lot since bidbots were pseudo banned last fall. Then they have also been going up since the split of Hive and Steem. I do feel things are fair if you put in a fair amount of effort.

A lot of people in the inner circle you mention have put in a ton of work and are doing things we don't fully understand. In any case, from a pure investment perspective, why should I give a crap? If my investment is doing good (it is), why should I care if others are doing better? I don't know if it will hold back Hive long term. I assessed the situation when Justin bought Steemit and reassessed when Hive was successfully launched. My next assessment comes at the end of Q2 which is coincidently when everyone will have had just over 13 weeks to power down most of their Hive and Steem. In my assessment, they have already stabilized the blockchain and added lots of exchanges (too many in my opinion). However, there is still consideration about roadmap, dao funded (especially non-airdropped stuff), and actions of Steemit which Hive cannot really control but present risk to keep an eye on nonetheless.

I think Hive can do it, but I also understand winding down your investment. I think you should stay at some capacity. Just lease out some Hive and keep like 500HP in your account so you can autovote. 10~12% isn't a bad ROI. Think in terms of BTC or ETH, only massive mining operations that essentially just solve equations based on artificial difficulty get the inflation. Hive is a paradise of equality and oppertunity by comparison.

Keeping a little HIVE is a great idea, maybe 5-10% of one's crypto holdings. The return is just inflation and the lack of user growth means there is no emission inflation and just fiat printing, implying the price will go down over time. So the 10% or so passive returns are counteracted by this inflation. My proposal to reduce inflation (burning) wasn't very popular however since most of the inflation goes to witnesses, whales and recipients of the DAO so why would they vote to stop it?

Good luck getting rich...20200401_1048361.jpg

Thanks, that's a very beautiful cat you have there, it's precious!

i will remove you from the voting features I added you too.

Have a good life, where ever it takes you.

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Thanks, but what's the point in removing automatic upvotes from someone who doesn't post often and will post even less? This is what HIVE is, a place of very little engagement and mostly auto-curation with the occasional comments on ORCA and Dolphin accounts.

I am seeking to support anyone who wants to help this decentralized blockchain grow.

If you have other goals, that is fine, I wish you luck with them.

I agree with you I got blacklisted today for trying to appeal to get off a blacklist what a joke

maybe you should develop a 6th wallet, that could make you very popular around here.

That would work every post would be hitting 80 to 100 dollars what a joke 😂 and the funny thing is everyone can see 👀

I think a lot of people share your thoughts.
Hive decentralized?
Same as steemit.

Posted Using LeoFinance

Hive is a Plutocracy, just like Steem minus one key player

Funny you should say that: someone I know who exited said the same and advised me to also do that

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