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RE: Proposal: reduce Hive inflation by reducing curation rewards

in Hive Improvement4 years ago

The Hive blockchain currently has an inflation rate of 8.5%, which decreases 0.5% each year (don’t quote me, as maybe it already dropped to 8%, I don’t know exactly when the change occurs). My back-of-the-envelope calculation leads me to believe that overall inflation will drop to about 6.5% if we reduce curation rewards by 75%.

I don’t know exactly when the change occurs

How is it possible that you don't know that inflation is reduced by 0.1% given a certain number of blocks? This translates to about half a percent a year. Don't quote me on that.

Just estimated the math by hand.
Would be around every 2.1M blocks.
Where's the white paper when you need it?


Once again messing with inflation so aggressively is a bad idea, especially when the block reward and the DHF remain unaffected, thereby gifting the elite more money via less selling pressure from other sources.

OBVIOUS CONFLICT OF INTEREST!

Once again my suggestion would be to allocate inflation away from the reward pool and into the bank accounts. We can eliminate curation entirely by allowing stake-holders to exit to the bank accounts if all they are looking for is ROI. On top of that awesome-sauce, we can work to bring collateralized loans that use the same bank accounts as collateral to create/destroy HBD to maintain the peg on the fly.

How does facebook do it?

How does Twitter do it? How does Instagram do it? Do all the centralized options order posts on the trending tabs via their payouts? Oh wait, there are no payouts. Frontends determine which posts get viewed, not stake-holders. Our system is totally ass-backwards.

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Imagine letting the free market decide, rather than a few centralized accounts?

I don't think we should meddle/tweak/change settings without independent review from all angles. Somebody could propose or enact changes for personal gain. We can't risk the integrity of the blockchain by allowing a few people to suggest and carry out systemic changes.

That's the biggest issue of proof of stake !

Are you talking about the savings accounts when you say bank accounts?

yep, I've written multiple posts about this.

https://peakd.com/hbd/@edicted/hbd-the-ultimate-stable-coin

https://peakd.com/witness/@edicted/can-i-get-a-witness

We can use the savings account for massive ROI and and interest free DeFi loans and totally gut MakerDAO's exploitative protocol.

I read the "can i get a witness" post a while back, and tagged it for review again later, I recall it had some interesting ideas.

This is interesting and needs some more thought...

Facebook for real people.
Steem/Hive is for bots.
This isn't a facebook advertisement. This can be considered the true state of affairs.

:) agree

also i think,

Make RCs more usefull ( use cases, Smart contracts, Delegations, ...) = Make stacking more USefull = makes Hive more valuable.