Honestly, I had couldn't find any interesting picture to use for this post so I just took a random one Everyone on Hive knows that posts get paid out after seven days from the time posted. Hypothetically, what if Hive didn't give out monetary rewards anymore. Would I still be writing here or not? Honestly, I would keep writing here on Hive but I'm fairly confident I wouldn't be as active as now. Of course, this would also be dependent on whether Hive would still be running.
Aside from our content being immutable by being on the blockchain, I think one of the main selling points about Hive is being able to get paid for our time and effort in writing good content. If the monetary reward went away, then I feel a lot of users that treated Hive as a job may quit being on Hive. There's a lot of people from countries like Nigeria, Philippines etc that can make a living from Hive due to being able to make crypto which is mostly tied to the US dollar. Only those that remain would be the loyal ones but would it be enough to keep Hive going?
Let's look beyond the writing on Hive. What would happen to those that put money in the ecosystem to vote and reward authors? Would they just get a return on their money only? Then what difference would this be than staking it on some other platform, providing liquidity to LPS, etc. What would stop them from taking their money somewhere else for better returns or more meaningful returns. Based on this, I think there would be a chance for the ecosystem to come tumbling down. If there's a lack of funds in the ecosystem, then how can Hive continue to pay out developers like Ecency and Peakd to keep building. If developers stopped developing because they weren't funded anymore, would we still have an interface to write on because someone has to pay for the servers, domain etc.
If we look at crypto in general, people are hopping from project to project. Once there's no money to be made from a certain project, most people will leave to the next one. There will be some faithful ones that fell in love with a project that remain. This is sad but it's the truth. If you feel I'm wrong, do argue this in the comments below.
Now, I want to mention my final point. I feel once people have something and it gets taken away, there will be a big backlash. In general, people don't like changes when they are losing their "benefit". I believe this is something psychological and totally normal. For example, imagine labor day was abolished and everyone had to work on that day every year onwards. What would working adults feel about that?
Personally, I enjoy writing so I think I would still write on Hive now and then even with no monetary rewards. Even before Hive, I did have my own personal blog and a blog for translating Chinese lyrics to English. With no monetary rewards, I would continue to use Hive as a social media to share about my life, food, games etc with random strangers and online friends. I believe the true value in Hive is the networking and connections we make from engaging with others. For example, I met some friends here that I talk on Discord. We play some games together and share about life or crypto projects. This is something you can't really put a value on; it's just priceless.
Just for some final thoughts. I saw quite a number of people write about this topic for the weekend engagement topics which made me interested in writing it as well. From what I saw, I think they didn't go as deep as me. So what do you think are the possible repercussions of removing the rewards from writing on Hive? Would Hive still exist in your opinion and would you still be writing here?
Posted Using InLeo Alpha
It all depending on how you value/understand/relying on hive. I only like here because I have a bunch of friends here I'm connected with, and a bunch of author I liked to read on a regular basis.
This is a fair point. Like I said there will still be some users still here since everyone is here with a different purpose.
There's nothing wrong with that. I can understand this point because there's still people that play super smash and tetris even though the game is super old. There's friends and community there which is like hive a community. I also like the friends I have here but it's not like we can't hang out on discord or other platforms right.
This is great to hear. There's a lot of great posts on Hive but are all these great posts purely written for fun and sharing for no reward. If monetary rewards were gone would those authors you like to read still be writing here? Do you think they wouldn't leave to go to another platform that rewards them for their great content?
Let's look at a real life example I'm not sure if you remember but there was a video social media platform called Vine. They introduced monetization there and then removed it and it shutdown in 2017 after top creators decided to leave it and go to youtube etc.
On a side note, do you know how many Malaysians are on Hive?
Add #teammalaysia on your 2nd tag, so your post can reach fellow Malaysians. There's a discord, but I don't have my discord access right now, and I don't wanna keep trying and get it locked 😅
Definitely not, people come and people go. I can tell who is here for the vote and who doesn't really care that much about their post payout.
I am now an investor, I have 40k loaded on ASEAN HIVE community, and I'm enjoying reading there and rewarding author who post there. I'm just doing my very best to keep my money rolling within the community.
I can still load in another 10k, but I have other plans that might take up some liquidity. So, you can see I'm powering down 10k in my wallet at the moment.
Once again, if the author I like value more from other platform, I can't stop them from moving away from Hive. But if I found out people who cross posting similar content from here to or from other platform, I'd rather NOT rewarding them since they already getting paid from other platform.
I see noted. I will consider using that tag when im sharing the restaurants im eating at haha. Oh no worries about the discord, that's unfortunate that you are locked out :c.
Woah that's a lot of Hive Power. I've also delegated some to ASEAN as well because I find it great that they are supporting the asean community.
Ya hive is very transparent haha it's ok if you want to power down I don't judge. I haven't powered down at the moment and if I did it would mostly be when I feel Hive price is peaking. I'd want to go to HBD and buy back hive at lower price to have more.
Ya I understand. We can't really do anything about others~
interesting cover photo. For me monetary rewards make Hive much better than facebook or instagram. Without upvotes it would still be better but it would not be in completly different league like it is now.
o.o yes cuz facebook or instagram could ban you. here we can be muted but our content wont ever be deleted. That's one of the good things
lol the cover photo is random. If rewards gone though I think people would just go to a diff platform?
I was on a different platform. Whaleshares I think it was called. I tried using it and Hive at the same time but it was too much for me. I abandoned the other platform and after that it failed. A shame really because I still have 12000(?) tokens that are now worthless.
wow how much was that 12000 worth before it failed lol
I just checked on hive engine. Now I would get 35 Hive for 12000 wls.
o.o maybe u should get that then power that up maybe? or buy more cadrs
By the time power down would end I would probably forget about it again.
I no longer remember. Maybe 100 dollars(?)
o.o thats a lot dont sleep on that finish ur lord of darkenss
From my own experience on other platforms that have closed payments, people would inertia stay for a while but gradually end up somewhere else.
Yes, I liked your perspective on the issue, very real.
Ya that's how it is I feel. So if anybody says they will keep blogging here and maintain it im calling bs haha. Thanks I tried to very real. I'm pretty straightforward with my posts usually xD and super logical
oh ok I will take a look haha
Looking forward. 😅
hahha ok
😅😅
Hello @fixyetbroken few days don't see u haha.
✊🏻💌
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