Why I Feel Some Are Focused On The Wrong Things At Hive

I didn't listen much of the town hall today for $HIVE and that's mainly because I feel like the focus of topic is so way off that it's not worth my time. Let me explain why in this post.

A Blockchain Is A Business

No matter how you look at it a blockchain is a business or at least the general idea of the business model. It needs to produce value, it needs to hold value and it needs to encourage development and growth. All things a normal business would do.

Town halls should be hyped up and show off what's being built, created and launched on the hive blockchain. It shouldn't be about bickering back and forth on viewpoints and that we need to change everything.

The town hall should be used as a platform to showcase the power of the hive blockchain and what it's building and creating. To get others interested, wanting to check out the new applications, updates and so forth. And if you have nothing to showcase each month then there's something seriously wrong in terms of development that's happening on the chain.

Rewards Should Stay The Same

There's nothing wrong with the rewards structure as it is now. It's been running for the most part fine for years. What is the issue is the human factor of greed and holding power. That simply will never change no matter how decentralized you want to call yourself. It's human nature and survival of the fittest and honestly it's a good thing as it motivates people like me to buy more hive and build my stack so my voice and views and showcased more or well have more power in my votes. That's the beautiful thing about hive and a decentralized platform. Those who have the most skin in the game get to cast that vote. They have more risk and more of a reason why they want to see the blockchain succeed and the resources to help fund and support projects.

It is what it is and the only kind of fix to that would to become a pure Proof of Stake blockchain in which you stake hive and earn 10% APR and you have to do zero curation. Something what would entirely kill the social aspect that hive currently has. But honestly wouldn't be a bad idea IF and a STRONG IF you had true layer two tokens and applications in which generated revenue and had products such as Splinterlands or InLeo of which provide real value and generate real revenue and tap into Hive via swap functions, liquidity etc. They generate wealth instead of printing it out of thin air.

Without Splinterlands I honestly don't feel like Hive would of had as much of a bull run as it did. I also feel like not that many users would currently still be using hive if it wasn't for it.

Applications, real, unique and powerful applications like these which generate value and by value I mean that little $ number you see on your posts, threads and videos do two major things for Hive itself.

It increases the demand for hive so that transaction resources can be used on chain, it builds new users who otherwise may have never heard of hive, it slowly introduces them to hive over just being a blogging platform and through all of that you get continued, steady growth that sticks around.

Hive Is Not A Charity Case

Hive currently pays out a decent amount of money to what I would call "Charity cases" and while I'm all for helping others that's not what hive is. We have countless rewards going towards boreholes, running racing cars and artciles that simply hold little value what so ever. By value I mean either bring people into the hive blockchain, that author powers up most of their hive, contributes to the overall growth and development of hive and doesn't constantly just cash it out putting negative pressure on the hive price.

Hive simply can not be a charity case because it simply doesn't generate any revenue in order to do so. This money doesn't come from no where, it's coming from investors and people buying hive and using hive for various other buying and selling of assets either in games, token swaps, defi pools etc. It simply doesn't generate ANY dollar value itself. So right now with all of this DHF funding and vote on some rather what I would call low quality articles what you get is a consistent exit of value of the token. It's really that simple and there's no reason to complicate it.

If hive wants to present itself as a come here share your content and get paid for it then it damn well needs to start generating revenue to pay out those rewards. Be it ads, products, services etc it simply needs to generate $ value if that's how it's going to constantly present itself.

What Hive Should Focus On

The only thing Hive should be focused on is building a scalable blockchain that offers the tools and resources that developers need in order to use it and tap into it. Outside of that the DHF shouldn't be used for anything else. No marketing, no running applications. Just core development on the chain.

I did like the idea of the DHF being split up into sections. For example the core DHF which is used to fund the development of the blockchain itself offering up the core programing and functions to allow other applications to easily connect into it and build on it.

Then split out a what I would call a "Incubator" DHF in which applications could get funding however the funding is simply start up costs. It's to get a program up off the ground and a reward for development on top of hive. Within the plan should be a way to pay back the incubator DHF or not to but certain thresholds have to be reached in order to continue to get payments from the DHF. Failing to complete a project in a timely manner will result in getting your funding revoked.

I hate to say it but Hive at one time was ahead of the curve. I now fear it's getting behind without basic blockchain features such as smart contracts which would open hive up to real NFTs, DeFi etc.

I say the things above as being a business owner myself, my views and being a part of this ecosystem and investing money, time and energy into hive for the last 6 years. I say them because I care about the health and growth of the blockchain and to think overwise is absurd.

I am more than open to hearing others input, ideas, suggestions and view points. I don't know everything and often times someone else view point that's done in a constructive manner can sway my vote or view. I believe on seeing all sides of the picture.