RE: The Downside of Downvotes
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Removing rewards should lower inflation. Lowering the inflation on the chain is good for all token holders, and this would be a big selling point.
Lowering inflation is bad for token holders.
DeFi has made it clear that high inflation is the killer dapp.
Inflation only devalues the stake of liquid assets that aren't powered up.
For everyone who's powered up they control far more inflation than they lose to dilution.
It is the liquid token holders that inflation is bad for: IE exchanges.
Come up with a reason to have HIVE staked that makes it attractive. RCs aren't going to cut it. As it is right now, 99% of the users don't even need 50 HP to transact as much as they want.
Operative words: As it is right now.
We run this bitch on 56k modem speeds. 22Kb/Sec
The blocks are going to fill up instantly with the smallest level of demand.
When it really comes down to it we don't need to change a damn thing.
This entire problem can be solved with non-consensus solutions.
My idea to fix downvotes and toxic flag-wars is an idea called @witchunt.
This would be a curation bot controlled with a unique reputation system.
Basically it will stop big accounts from going ham and doing whatever the fuck they want.
If whales cast toxic upvotes they will be neutralized until they place nice again.
Christ I need to work on my database more.
brb :D
If I understand this post correctly, because miners get BTC inflation, then the investors are happy therefore inflation is good? I've never been of the camp that all inflation is bad, but I do think that we could benefit from cutting it some.
And to your other points about inflation, I have one question to ask. Is there an upper limit? Can you have a billion percent inflation and this still holds true?
This is true, and it could very well become enough on its own to sustain a reason to have a lot of HIVE powered up. I am not familiar enough with how RC's scale to comment further on this, but it would be good to know. The only experience I've personally seen is when @animalcontrol et al was spamming non-stop at a record pace, and I never heard about minnows having issues with their RC's then. Considering I moderate the largest new user Discord server, that would have came up at least once.
I would be interested in hearing more about this. HMU on discord if you don't want to make it public yet.
Yes it works fine... except for the poor saps that weren't controlling the inflation.
If my one coin turns into a billion coins... I still have a billion coins.
I'll actually have more than 1 billion because I'll have siphoned value from the liquid holders.
I'll do a post on it tomorrow.
Will be good to get it down on-chain.
The problem with a billion percent inflation is that it makes unstaked tokens unusable. Everything freezes in place and likely dies. There is a balance.
Yes, it's all on the spectrum
A billion percent inflation is perhaps a bit too high, I agree.
Cub has 1000% right now.
It's worth it.
DeFi will prove it at the peak of this mega-run.
Of course then the bear-market comes for them... yikes.
2022 so many tears RIP.
It happens regularly even now.
I meant aside from literal 0 HP or dust accounts. I still see new users of @nftshowroom having this problem all the time, but that's because they have no HP. Once you have about 20 HP, a normal user will never run into problems.
Yes that's true but 20 HP = about 12 USD, which is a non-trivial cost of entry for a new user of a social platform.