I was scrolling through peakD and then got a notification for yet another new Hive proposal. I called it "yet another" because I've always gotten these proposal pop-ups and all I do is mostly ignore them.
Out of curiosity I decided to check this one, it wasn't anything technical and I didn't see anything about advertising or anything innovative, so I decided it was one of those proposals that are: overpriced, not really needed, and not creative enough to warrant any funding though.
I checked the money needed and it was a lot of money for tnt total funding and for one moment I was sad again. I basically didn't have any problem with this project being funded, infact whether I like it or not, it just requires one vote from blocktrades to pass but the thing is that it's the wrongest of time to be renewing or writing another proposal.
Why?
The chain is currently in a survival mode, the expenses are supposed to be cut, the market is currently in one of its lowest ever in history, price wise and innovation-wise as well.
I felt the owner of the proposal could have waited for at least early 2028 or something. I said this because I didn't think this proposal was going to add anything to the chain that cannot wait till 2028.
I also say this because that time the market can afford to pay for cost, the HBD debts are reduced, there are more influx or users and the market will be finally primed to actually pump, but perhaps they need that proposal to pass at their end and the timing may have mattered a lot to them.
I don't want to scrutinize the proposal or the person who owns it, I also don't want to reveal too much, however I think it's also not one of that proposal that we will outrightly dissuade because of some sentimentality towards the owner.
I believe most people who saw the proposal didn't see anything wrong with it, the only thing they would have been worried about is the timing just like I expressed too. It's basically like doing the right thing but at the right time.
Timing is everything, we can have series of overlapping events but when the time is not right then it becomes a colossal problem.
By now they would probably be getting these feedback: timing.
I feel that if they probably love the chain as much then they'll probably push this proposal to a latter date or actually reduce the cost. However I don't think it's up to most people.
Like I said earlier, this proposal can pass without most people even voting for it, I've told you why it can, and while it's something to be concerned about, it's just what it is.
Over the past few years the DHF has been unchecked and it looked like you have to now the right people and then cash out, blow the money however they wanted without anyone threatening a lawsuit or consequence.
For a while I've monitored the well Building in Ghana, and from some reports I've gotten. It looks like money laundering with absolutely no check on how much it cost to build a well, with the people in charge getting hundreds of thousands of dollars.
*This isn't me saying this new proposal is anything like the Ghana proposals.
Take a look at it like this; when series of events goes wrong, it's difficult to see anything else other the continuation of carnage.
A lot of people aren't interested in any good things anymore and that's because of the issue that needs to be tackled is not being paid attention to, by anyone, except focus on the wrong thing (like politics in Nigeria)
a lot of people needs to do the right thing and it starts with flushing out the bad eggs taking advantage of tnt DHF, while using those previous funds to entertain new proposals that might be worth it.
The chain resisted the hostile takeover of 2020, the current takeover is internal crisis, and I think someone has to start doing something.
I still feel that with the exception of core coding to maintain the security and functionality of the blockchain, the DHF should be giving loans not grants. Every proposal should include a financial business case showing how it'll raise the revenue to repay the initial loan.
You're right but no one would want to take a loan, because they don't want to pay back for anything they're building. It's the free money they actually want..
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Thank you
I'm pretty sure alot of other persons will share this concern, i mean the whole crypto world is experiencing a global meltdown, coming up with s project of thst magnitude is a wrong timing and it's ridiculous to me,