Hey everyone!
It has been a while since I have been able to pay much attention to the broader concept of growth on Hive.
It does seem like we still have a very steep pyramid of power with a very small percentage of people holding a very large majority of the HP on the circuit.
While this will always be true in any economics. Is this really a healthy things to have this condition to such a vast degree?
Let me explain why I think it is bad...
I have been on Hive for something like 8 years now I think? Everyone kept saying that it was still early days, "early adoption" and the like. Maybe some people will still be saying that we are STILL in early adoption but Facebook went from 1 million to 1 billion MAUs (Monthly Active Users) in the span of 8 years.
We obviously have some challenges on Hive and if we really want the platform to work... we should work on it.
Now... my sentiments probably does not mean much because I do not hold much HP. I was a Dolphin, but due to economic reasons, I need to cash out and have been struggling to get back into it again.
My vote does not mean much and in the economy and power of Hive, unless someone with real voting power sees this post and gives it support, this post will just be a tiny squeek that has little impact. In fact, if 1,000 users or even 10,000 users saw and interacted with this post, it would not matter... Unless the top 500 users see and support the post would not gain much value.
But worse, there is not a 10,000 users that CAN discover and interact with my post!
If we look at HP stats right now, these are the approximate stats:
A person with a mere 150HP is of the top 23,000 of HP stake users.
A person with around 500HP is of the top 12,000 of HP stake users.
A person with 1000HP exactly is at the top 8,000 of HP stake users.
I have just under 2500HP and I am of the top 4,200 of HP stake users.
Let's pause there. At my "insignificant" level, there are only around 4,000 users on the whole Hive network with more HP than me. That number is incredibly low.
Now the scale after this point gets steeper and steeper. I have a vote of around $0.02 according to https://vote.aliento.blog/.
If I double it to 5000HP, then the vote level is $0.046 and they are the top 2500 of users.
Let's double that to 10,000HP, they have a $0.091 vote... almost 10c... they are the top 1545 of Hive users.
10c is not financially significant. Only 1545 users are capable of 10c? Sounds bad.
But wait... $1 votes... are possible... that is at 110,000HP that $1 vote kicks in. You are the top 209 users. Here at least are 200 odd people who can make a vote and that will buy me a cold drink. Right?
Nope. The reality is that the voting power on Hive is capable of far bigger payouts. But it is not even on a 200 user basis. The top 50th gives a $5 upvote. The top 10th is capable of a $19 vote and the top 3 have $107, $130 and $148 respectively.
From $10+ votes people have massive life-changing power at the click of a button.
Now... please understand. I have nothing against the super-elite whales with the power to do $100+ votes.
My point is that we should be aiming for a platform that has over 1 million active users which has hundreds of thousands of members who can give 1c votes and tens of thousands who can give 10c votes.
We need to make the circle bigger and finding a systemic method to give people that sort of pull, retention and discipline would be key to expand the platform.
Anyway... just my two cents and my idle thoughts.
I have been running the Busy Bees for around 3 years now or 4... I cannot remember.
I will do my best to build a crew of active users that retain the power to make small but significant changes. That would make me happy to see that 10c vote group expand from the 1500 members to 50,000 members. That would be awesome!
Thank you for reading!
Cheers!
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