Author rewards are given away but most of the posts don't bring any value to Hive
This is the same mentality that first caused many artists, photographers, and general entertainment types to be on the receiving end of massive downvotes day after day, not so long ago. "No value," they cry. "Useless!"
Consumer buying power. Have you ever heard of that? It's basically the driving force that makes arts/entertainment and even information incredibly valuable to both the people creating it and the stage/platform where it resides.
These days you can't even watch a livestream without the host stopping every few minutes to thank consumers for their tips/donations. That money pours in nonstop. Imagine all that pumping into Hive, daily.
Artists were chased away from this platform. So what happened? Now they can earn hundreds and sometimes thousands of dollars NFT style, elsewhere. Consumers purchase ETH instead of HIVE. Thousands, millions worth of ETH. How can that happen if what they do — according to the 'experts' on Hive — is worthless?
What I find humorous about that business model though is the fact: It's new money in the door for ETH, in order to pay an artist, who then wants to convert that ETH into cash. No incentive to hold. ETH breaks even, no steady buying pressure. What comes in goes straight back out. Whereas with Hive's business model, the consumer has an incentive to hold, and so do the creators. So that's new money in the door that sticks around for much longer periods of time, as more new money comes in the door, since consumer buying power is a force to be reckoned with.
You folks focus too much on crypto and crypto investors. So much in fact, you don't even notice the goldmine sitting directly under your noses. When you're offering a product consumers enjoy, consumers become the investors you seek.
@therealwolf's "point"
"So that's the content I'm paying a 50% curation tax on? Well, that's a turn-off..."
That's like inviting only hecklers to the comedy show.
NFTs are very small part of ETH economy, millions are nothing compared to 15B locked in DeFi. But I never said anything agains NFTs on Hive. Hive is amazing for NFTs and we have at least 2 successfull NFT platforms being built.
But I'm against using inflation to pay for author/curation rewards. With average CPM of $1, any post making $10 would need to get at least 10,000 views (on frontend with ads that would be used to burh Hive) or attract investors that would invest $10 to make system sustainable.
There is a reason why Steem fell from top 3 coin to 150 and Hive from rank 38 to 170.
ETH is paying only to miners and in my opinion Hive inflation should only pay for witnesses, staking rewards and DAO. Everything else should be moved to 2nd layer apps.
I was talking about chasing what creates views over to other platforms, and now ETH enjoy funds that could have been pumped into HIVE. The inflation or, potential money going out the door, should be countered with money coming in the door. Content is a product and consumers typically purchase or support that product. That consumer money has always been missing on Hive, since day one. Nearly all onboarding has been focused on attracting people with the sales pitch, "Get paid to produce content." Not once has there been a push to attract consumers, who typically outnumber creators by a huge margin. This is why so many publish content to an empty house void of comments.
For a lot of content creators 10000 followers is a small number. Over time, if that creator was focused on creating a business on Hive, it's not impossible to attract 10000 consumers willing to purchase enough stake to equal a vote worth a penny. At today's rates these small numbers pull millions of tokens off the market and lock them away, and the people locking them away are in for the long haul. Many content creators with large outside followings show up and enjoy the luxuries of current stakeholders supporting their work, so that content creator never sees the need to attract their own consumers. Instead they use this platform to collect rewards and ask for donations in other cryptocurrencies, not realizing they could stretch those donations further by encouraging followers to stake Hive instead. Often they have thousands of followers on the outside and no comments under their posts here.
There's far more to this content creation/content consumption world than just advertisements these days.
Who's going to buy Hive when it comes time Hive only supports witnesses, staking rewards, and DAO? That market is already cornered by other crypto projects and Hive seems to be playing catchup, always one step behind, instead of being innovative. Many content creators give several thousand and even millions of people a reason to purchase Hive. Those numbers drop considerably once the content/consumer combination is removed. At that point this turns into just another irrational crypto project waiting to win the whimsical speculator lottery that might or might not ever happen.