I think not, its a poor use of funds in my opinion. And I find it strange most of the marketing is not up for vote, but decided by those who handle the valueplan account.. A select few, allowing lots of Hive to be sold in hopes marketing will do something to stabilize the price or something like that. It does not make sense to me. So I do not support it.
I have seen a lot of scrutiny placed on valueplan recently. Most of what is paid seems to be to try to help market Hive. And this has never felt good to me, I think Hive needs zero marketing. Especially during bear markets its normal for things to get quiet.
Bitcoin’s creator never put out newspaper ads, rally car sponsorship's, or attended conventions/conferences. Just a forum post saying Bitcoin was live. That is all the marketing that was done, and with this great idea. It grew by itself and we started to see Bitcoin go viral.
With BTC we eventually we saw signs such as my cover image at a Fed meeting in 2017. Someone put up a notepad with “Buy Bitcoin” written on it. That is all the marketing Bitcoin has got, and along with being such a great technology it caught on because of such events.
https://bitcoinmagazine.com/culture/hi-mom-send-more-bitcoins
Another famous event for Bitcoin, no marketing required.
With every reward halving, we have seen drastic changes in price discovery. And that as well has “marketed” Bitcoin by itself. Every bull cycle brings new eyes to crypto. These events and gorilla marketing done by enthusiasts is more than enough to get noticed.. And Bitcoin paid zero to have all that done, just done by people that truly believe in cryptocurrency.
So my point about Hive is, I think we are wasting money trying to market Hive. Paying companies or individuals to increase visibility has rarely helped alt coins. Its usually been based on grass roots approaches and gorilla marketing that has helped altcoins get noticed such as Dogecoin.
I believe as long as Hive holds its alt coin ranking, the reward halving effect from Bitcoin will raise the price of all alt coins. Just as it has done every other cycle before. So as long as Bitcoin succeeds, which I do believe. I think Hive will as well, without having to do any marketing at all.
The money generated for valueplan could go elsewhere, helping inside the ecosystem by being staked and voting on content. Maybe some other way it can be reintroduced into the reward pool where stakers can vote for its use. Or it could be burned and help reduce the amount of Hive in circulation. I do not understand why we cannot just have everything voted on the DHF. Why do we need a group of “trusted individuals” to decide on what gets funded and what does not. We have the DHF for that.
All the marketing Hive needs is time in my opinion.
So does Hive need to pay for own marketing?
