I said it before elaborating because you asked it clearly. It saddens me that so many people are answering with a coward "it depends" or "we need more information".
Now, it is not because I think it should not fund that I would not vote for the proposal. Ecency and Keychain ask for a lot of money and I think that the DHF should not fund them right now but still I vote for them. I may retract my vote but for now I vote for them and I would vote for funding HiveFest but I think that under current market conditions the DHF should not fund it and should not fund them despite my temporary vote of approval.
I am sorry for the contradictory answer but it is honest. I thought about it overnight. Over the past couple hours I was drifting between "yes, I would support it" and "no, we are broke" but I have reached the conclusion it should not fund.
Suppose you take the funds, sell, pay for the event, somehow make it back and send he HBD back to the fund. Unless the HBD made back was bought as HIVE from the market it will not undo the sell pressure. Very likely most people going to HiveFest will pay off of their curation and inflation rewards. That does not add buy pressure to make up for the sell pressure. I am open to hear if there are other planned ways to revert sell pressure, because the DHF is not funds, it is market liquidity.
Way too many people can afford the tickets or even sponsor the event by paying with the rewards they have made from the inflation. Both the DHF and the inflation are sell pressure with extra steps. Few people will be willing to pay $400 on a ticket with their credit card or their money made off chain, some may pay by cash, but guess what? Cash that came by selling HBD into HIVE and HIVE into money.
Suppose this gets funded, as nd I said I will very likely vote for it and I know whales and projects are eager to promote themselves during the fest. What impression are we giving? Not a good one. We have been in crypto for 10 or so, maybe more years, right? Isn't it annoying when you go to events and people come to you with "hey look at this tiny chain I am investing in, you should totally give it a try", man that sucks, it makes it look like they are trying to pull us in to a pyramid scheme doesn't it?
Hive is not looking good right now. We are in that position, but worse. I don't want them to see us as I see those annoying promoters of tiny chains that are trying to pull people in.
We need RADICAL CHANGES before we promote Hive again, we are looking horrible. Look at the chart. Look at our market cap.
LOOT AT OUR DEPEGGED STABLE COIN, that is not marketable. Do you really want to go into an event with a stablecoin that is 20% below peg and a coin that has hit the millionth all time low of the year and is under 30 million in market cap while being almost 10 years old?
We are on the territory of tiny dying chains. The difference is most other tiny chains do not have dozens of people living off of their inflation, which means they are sustainably tiny, they can stay tiny for a long time, we are unsustainably tiny, we are reaching a collapsing point at any moment.
I would go, I eager to go. I want to meet the people of Hive, I want it bad. I want to see the presentation. I want to talk about Hive for hours a day in person over a few days. Hive is social, Hive is community. The HiveFest you envision is a cryptobro circlejerk, near pyramid scheme level of bad looking to outsiders.
Please, make a HiveFest for hivers to meet, I know it is hard and the payoff is negligible and possibly negative, but I so wish we had a HiveFest, but not this one you describe. Make something for us to see each other. Drop the delusions of grandeur during the harshest crisis in our history. We are not professional, we are not wealthy, we are collapsing, we can't market that to outsiders and if we make outsiders buy into our pitch we will be actively fooling them, we know we are fooling them, we know it is collapsing and we are trying to bring them in? That is not what we want to do right now.
I want to go to HiveFest, I want to see projects, teams and witnesses presenting their projects, their goals, what they have built, are building and will build. I want to talk to my friends, I want to make new friends, I want to see everyone in person and talk about Hive because I love Hive. I want a HiveFest because I am obsessed with this blockchain. But I don't want us to lie neither to ourselves and specially nor to outsiders.
RE: Should Hive fund HiveFest XI and ChainCulture this year? An honest go or no-go.