Bayanihan Up Day Post Thoughts

A Bayanihan Up Day Post Thought:

We're never about selling you any ideas this community helping you in a get rich quick scheme. What we do instill here are values that put the commune in the community which happens to have side perks like social rewards from the blockchain.

At the time of this writing, the current effective HP of @hivephilippines amounts to 83,319.53 HP (this includes delegations and the account's accumulated HP). And at the time of this writing, that is valued at 18,773 USD (1,097,469.58 PHP) and this gives you an upvote of 0.931 $ at 100% vote weight. I don't know who onboarded you or what your expectations are from this platform but you can see how much the value of upvotes are and substantial upvotes take great amount of HP. It doesn't help that Hive has been struggling in a bull market.

This is the record for the hivephilippines voting activities for the last 30 days. It has made 972 upvotes with the top upvoted account being @hivepakistan which consists of 3.18% of the total upvotes given. All votes contributing to the top 10 accounts make up only 19.75% which means around 80% is given out to other accounts. If you notice the top 10 accounts, these are mostly from people that are more active within the community be it on chain or discord.

The account's voting patterns are monitored to ensure that the votes get distributed as fair as possible. It's not a full proof method since the system relies on the people using it. For Hayahays (Members) that prefer to just use the bot to vote on themselves, that's fine but self-voting is a secondary perk. The primary intention was creating a system where community members can pool their HP and distribute more votes with value for other community members. It's fine if you think of it as a means of self-enrichment but exercise some control over that greed vs altruism.

You delegate, get back 90% of the delegation rewards while the other 10% goes to the community fund which we published the monthly report regularly. A portion of those funds get reinvested on some tokens on Hive Engine and the value earned gets redistributed back as a bonus to delegators. For delegators that are also members, those voting privileges negates the cost of fees.

For every 100 HP you delegate, an estimated amount of 0.85 Hive goes to the community fund provided that you keep those delegations for an entire year on hivephilippines. How much more if you contribute nothing and still expect to get voted on?

Since regulating the votes is an admin task and it's a community concern, everyone is free to complain at the discord's #iron-cage channel where we can resolve conflict (or make it worse, whichever you like) rather than secret DMs. While the spiel was supposed to be supporting Filipinos on the blockchain, I do stand firm on the idea that not all users under this demographic is worth supporting.

Hindi na lahat gusto maging Hayahay sa HivePH, yung iba basta maka access lang ng #voteme di na mahagilap sa ibang channel matapos mag pa bibo. We notice these types of people but we don't mind. It's only when I start to mind will you see something is wrong and an account mysteriously leaves the server and pulls out their delegation. For those dissatisfied with how I run things, know that you could always volunteer to take up my role (I've been trying to leave it anyway) and do better.

I want Bayanihan Up Day to be a long running event just like HPUD but for PH community. Just like powering up 10 HP isn't going to change your voting value dramatically, so does adding 10 HP delegations to hivephilippines, but it does encourage the reinvesting habits and sense of community as the value is given out for everyone else in the community, including people you least interact with. In a way, everyone is helping each other out by proxy.

Sinulat ni Adam.