Well i think to reward content is a mistake by "chain value". I also think DAO based on a hybrid ( HBD) is also a mistake.
Rewards should at at least the same $ amount in value. Content doesn't do it. It doesn't bring new users, it doesn't bring more demand, it does nothing compared to the long term cost.
As long content monetization is based on Chain rewards, it will always fail and cost more as it produce. Same to reward with HBD at some point in price, this prints a dynamic asset based on worthless content that causes at some point Inflation ( above the initial rewards).
DAO should reward in Hive tokens ( since it becomes hive after). This way its not dynamic at all and fucks around less ( makes bad times even worse).
DAO itself needs a rework ( it should not be possible 1 account = DAO). 1 Hive 1 Vote could solve that and allows more discussions around projects. Talking now ( even with 1M hivepower) has 0 effect. Sure 1M is not even a bitcoin, so maybe thats not a lot in todays Hive supply.
DAO now works like social benefits for projects ( that are cool in core) but never generate any revenue. No revenue, no marketing, no new users or net buyers means they are net costs.
There is nothing to offset all those Net costs. Someone needs to value Hive beyond the bridge to sell it on exchanges.
Hive feels very woke in the sense of progressive rewards ( feel good content because someone poor did post it). That might be nice to do, but is not how shareholder value increases.
There is a downtrend in users since the Steem days. It continues to this day. Thats a very bad trend. The reason is most likely" the curation" itself that makes it impossible to work like a social network. Lets say i disagree with someone ( ok i say what i want but most dont), i can make enemies onchain that have incentive to bully me or another user off.
Means under the line, is worse as facebook. With 0 rewards, we would not have those problems. Good content on the other hand should be able to earn a lot, the promise with token rewards failed here massive.
Sure spam can be one, but to spam you need Hive. And a frontend could simple filter that out ( automatic) with some manual work.
Anyway i think the design itself is on the way to collapse sooner or later. It is unsustainable for longer and became lately complete suicide speedrun.
Otherwise we would see "builders" stake their earned Hive. They dont, they sell.
Anyway, at least we now know, no revenue means shit goes to zero if its a high inflationary asset.
( one last thing i think witness rewards are way to low compared to all the other spending).
