Spot on !
I'm a small fish in a big pond, so my views probably won't influence the witnesses. But my view is that if the interest rate went up or down by a couple of %, that would be fine.
An 8% drop feels like a panic reaction and damages my confidence in Hive as an ecosystem. It makes me wonder what is going on below the surface that I don't know about. I'll carry on posting and earning here - I like it as a social platform, irrespective of the crypto aspect. But what will stop dead (whether this passes or not) is me DCA'ing £100 a month into an ecosystem whose stability I have reason to doubt.
If I start thinking that this will make the HIVE price dump and stay dumped, then I'll pull my HBD out, and it won't turn into HP, I'll take it out completely and put it somewhere I feel is safer. Maybe even into non-crypto investments.
When I look at actual data on crypto prices as a whole, despite the attempts to talk up a bull market, the reality is that it's been a slow but steady decline with occasional sharper drops since the end of 2021. Like many others, I've held on grimly hoping that things will turn around. Seeing Hive witnesses doing something which looks like a suicide move for HIVE as a whole makes me wonder what is going on.
Perhaps we need more witnesses, who can then be segmented based on their areas of expertise.
Steem exemplifies what governs Hive, because Steem showed that if the platform grows enough actual IRL financial sharks will gobble up the assets necessary to completely govern Hive. Hive is a pure plutocracy, where having more money gives an account more power to govern. Sun Yuchen just bought enough stake to completely control Steem, and eliminated the oligarchy that @ned allowed to run things.
Hive eliminated that stake, and restored the oligarchy to control of governance. This is why they keep adoption and retention too low to attract outside investors that could gobble them up and eliminate their cushy returns.
Thanks!
Yup!
What about a floating rate that changes monthly based on the economics between a set range.