Finally made it to 1000 account tokens.
The ability for anyone to create an account was a pretty big upgrade that Steemit Inc programmed for us and everyone just kind of takes it for granted these days. Onboarding users has always, and will always, be a pretty big issue for decentralized networks that have to store copies of all the info across every node. Now even I can create accounts for 1000 different people... whether they have enough RCs to transact is another story.
https://peakd.com/milestone/@edicted/two-milestones
It took me a while to get to even 100 account tokens back in the day because I didn't have a lot of stake. Another reason it takes me a while to reach these milestones is that I actually create a lot of accounts. I've been asked by several people (@dalz) why I'm creating more accounts that a lot of the actual services that are onboarding.
https://peakd.com/buidl/@edicted/account-name-squatting
Personally I view account namespaces as treasured real estate on the blockchain. If these networks actually take off like we expect them to then all the good account names are gonna get taken pretty fast. I still use my old Hotmail Microsoft email account from back in the day (90's) because its my first name and last name with no numbers at the end. Every time I tried to create that username somewhere else it was taken after we entered the new millennium.
So yeah, I currently have the keys to over 100 accounts. These are either accounts I'll use as bots or to play games or whatever. Eventually I'll sell them or give them away during the crazy times when we hit very bad scaling walls.
Most recently I took the names of accounts for a ton of Twitch emotes in addition to a few others I thought of along the way.
Who knows, maybe Hive becomes popular enough that I won't be able to get rid of these accounts fast enough when the time comes. Until then it's fun to play around with bots and the API to figure everything out around here. I'll probably need quite a few accounts to test out some of the games and whatnot I'd like to develop.
Blast from the past.
Check it out! A rich-list from Oct 20, 2019! Back then no one even had more than 70k coins... my how the times have changed. Even I have more than 70k these days. Crazy stuff.
So I was looking at my old posts trying to find these milestones and whatnot and I found this little gem:
LOL @ Being Airdropped 22k LEO
Just the other day I was wondering how much I was initially airdropped... Now I realize that my airdrop is currently worth $6000. Wow... and I thought the $1000 it was worth at the time was good. We're making Uniswap look bad over here.
However, 2 million of those coins are locked in a sell wall set at 2:1 STEEM:LEO. Therefore, if the LEO community creates enough value to reach the sell wall my airdrop would be worth 44k Steem... lol. Sounds too good to be true. Maybe it is. Maybe not. Don't care. It will be interesting either way.
And now that sell wall hasn't even existed for quite some time and we are trading above the 2:1 level. My, how time flies. Not to mention I now have 70k coins so my LEO stake is worth 140k Hive... now that is some crazy stuff... and it's only going to get more crazy over the next year as money explodes into this space during the mega-bubble year of 2021 (4 years after 2017).
Scaling issue.
This is obviously not something we have to worry about quite yet. It's basically impossible for Hive to have any kind of scaling issue without the token price doing something crazy like x30-x100 or more. However, when we look at the fact that this network is currently tuned for 22KB/sec max throughput it becomes clear that we could hit a brick wall quite quickly.
Even top 20 witnesses have been popping out of the woodwork to tell me, "We'll just increase the blocksize." Oh! Will you now? It's that simple? It's really not... because putting more data on the blockchain isn't that big of a deal if you're a top 20 witness and getting those fat block rewards, but for everyone else it threatens to boost the cost of running a node to obscene levels that no one is willing to pay.
When prompted with the question, "How are we going to scale up to Facebook levels?" If the answer given is to simply do it the way centralized entities scale up... that answer is 100% wrong and naïve. It is absolutely absurd to think that 1000 nodes all storing the same information could all scale up at the same time to the size of a full-scale corporation. Seriously... just stop. That's not how this works.
Conclusion
Time is still ticking away. Developments are happening, albeit slowly. However, when we look back a couple years and see how far we've come it's pretty impressive.
Accounts on Hive are a resource, and at some point there aren't going to be enough to go around. Hard to imagine a time like that considering where we are today, but it will be here before you know it and we'll be complaining about a completely different subset of why "Hive is broken." All we can do is continue to fail to scale, gracefully into the future.
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Just shows you how good the air drop was. If I remember correctly they used palnet stake as a guide at the time. I have never sold so am very happy to have Leo in my bags today.
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When was that airdrop that you mentioned about and how did it worked?
By the way, I have a yahoo mail with my name as the account name, but couldn't get it any loner for gmail.
You have a good strategy it seems with creating new accounts, feels like buying domains. Hope at some point there will be such a demand for Hive that scalability will become an issue.
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it was when engine tokens started. i think one of the first was PAL and they did some kind of scale of how much hive (steem) account had powered up. so if you had 1000-5000 you got 500 PAL or something like that. And then few weeks? later LEO dropped equal to how much pal you had powered up (so people that sold god nothing).
And it could be that i dreamed all of this, so don't quote me on it :D
You're correct. I got 18K of each.
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i got 500. a lot sold it, but i am a bit stupid on trading so i powered up all the different coins i got. looks like not selling leo will be a good thing :D
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You need to dump right away but usually are worthless and it's better to just hold.
I made 7K on hunt, and bought leo.
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I have been building accounts for my kids and now I am starting to build accounts for my nieces and nephews.
I also thought about building blogs on the blockchain and then selling them, but I seem to have more ideas than follow through (aka time).
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I wonder if anyone would pay $100 for my blog? 😀
Without my wallet holdings of course.
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Smart. Any Leo they discover 4-5 years from now or 10 years from now could be worth a significant sum.
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It's crazy to think about the Leo airdrop. Honesty, I was really into it but converted back before the big fork. In hindsight I never should have but that's the game I guess. Im going to trickle back into leo with my hive earnings.
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Hahaha, you nicely prepared yourselves for a potential nice income selling accounts you already claimed and created. Just recently I learned how easy it is to claim an account using Resource Credits. No HIVE involved, just Resource Credits. Cool setup indeed! Not sure what I'll do with the account claim tokens, didnt yet create accounts with them. My thought is like: I can create accounts with whatever username, but I can imagine someone wanting an account wants a name specified by them, and likes to see the creation date closer to when they start using the account. Maybe I'm wrong :)
Does HIVE impose a limit on the number of account claim tokens we can hold?
Scaling: I really hope we can scale too much larger active members. Though I think we really need to get the focus on monetary rewards to the background. As we can see in HIVE last few years, whenever the tokens are valued low, the blogging activities is going down, and when it grows, the blogging activities is growing. When we scale to 10/100/1000 times more active users, the average post and average author rewards will very likely decrease a lot (assuming market cap of HIVE and LEO will not grow unlimited which is a very reasonable assumption imo). When the monetary rewards keep playing an important role for many to be an active blogger, this growth will not happen imo. Therefore I think whenever we talk about LEO, HIVE and all, we shall emphasis all the other great features, and leave anything about the possibility to earn money out.
Tech: Yes, a lot has happened and I love the amount of activities in de dApp HIVE eco system space. We still need to do a lot though, in many of the dApps but also to the core blockchain. But I still think somehow this is possible. Hopefully a little sooner than later. We need the next step that makes HIVE interesting to a wider audience and business and dev community. Whether this is smart contracts, SMT or whatever. But we need to make that step soon. Added to that, I believe the dApp owners need to trade part of the time they spend on feature development into adding higher levels of service robustness and stability.
Great times ahead of us! :)
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I agree with you that rewards should be behind the screen. One more feature i would like to see is likes on post, as people only vote posts upto 7 days and after that no one really appreciate a good post. With like system we can like anypost we think deserve appreciation without wasting vote.
Thanks
You mean a like system without monteary rewards connected?
Is actually a very interesting concept. Not sure of the likes one gives/receives will be gamed a lot, but its the system used by all social media. Blocktrades (one of the developers of the HIVE chain), is thinking about new ways of showing authors reputation which I like a lot. I think a lot more metrics shall be around for authors and posts. It may take some time still before these ideas of Blocktrades will be implemented though.
Scaling to Facebook levels is simply not going to happen. There will never billions of Hive accounts. Also, I think the scaling problem will be tackled by apps storing only some of their data off-chain.
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Okay, bad example then.
Hive can't scale up to even MySpace levels.
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I did some googling and found out that My Space has 50.6 million unique monthly visitors. Hive has tens of thousands of monthly unique visitors. That's roughly 100 times more. There is no up to date information about their infrastructure as far as I can tell.
Hive has a 65536 byte maximum blocksize. At what percentage of that maximum capacity does Hive operate these days?
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Thanks for the review of your past. It proves to small fishes like me and others that starting now is better than never. Maybe in the near future we will get another Leo second layer token and I would definitely join that airdrop. Also much appreciation for support new hivers.
1000 accounts omg...
I have not tried the token thing....
I onboard some of my friends/relative but through hiveonboard...
The idea is quit ok but their should be a market for game... blocking some companies nake is good...
Best of luck ...
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Haha funny thought with the Twitch names, maybe you are lucky. When I think about the fact that somebody secured domains in the early 90s or 2000s, for example from Deutsche Bahn, and later sold them to the company, I can imagine that this also works in the long run. Of course, only if the platform grows accordingly, currently more superstition than realistic assessment, of course, but who knows.
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Ah, your approach to usernames reminds me a little bit of the approach that the CEO of MicroStrategy (I think) took in an interview I saw recently with the Pomp. He basically bought up all these domains when the internet started and one of them was voice.com which he eventually sold for $30 million... you never know!
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Hm yeah domain name sniping is a pretty shady move even if the payout can be massive. At the same time there are like a million accounts on Hive that no one is even using or the keys have been lost. I trust myself to actually use these accounts, unlike domain name snipers that hope to strike it rich on the one of thousand domains they 'steal' while the rest simply go to waste.
I'd say it's more opportunistic than shady with buying up domains, unless it was done illegally then that's a different thing altogether!
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Yes you never know.
Long long ago I've registered domain 1a.lt for myself. Because my personal ham radio call is LY1A. Paid only $5 for it.
3 years later I sold that domain for $19000
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Wow! 1a.lt is a rather famous online store now... Who knew... Good for you!
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Yep ! This particular trade was almost as good as you can expect one nowdays in crypto.
I had no such (to sell) plans while registering. Than this surprising offer came.
At first they offered me $10000, and I said NO NO NO !
They already had 1a.lv, not sure about Estonia
I could possibly even push it 1.5-2 times higher.
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Hahaha! I wonder who owns 2a.lt? Or 3a.lt?
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Hey, that's pretty smart from where I'm sitting - nicely done! I'm sure you have put that to good use ;)
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That is tricky investment portofolio. With leo, you also make good bet and now you one of the biggest whales.
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Serious?
Wow!
You do know that you don't have to make them all for yourself, right? ;D
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THEY'RE ALL MINE
MUHAHAHHAHA
I am going with the pareto principle... 80% of the claimed accounts will be mine.
I have 2500ish and I hope that one day, they will be needed.
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Holy nutso! What an amazing airdrop! The money distributed here and the fact it retains it's value literally blows my mind!
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My fave: noleo4u 🤣
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I have never really understood what creating an account truly means. at first, when I saw the option on refinance background, I was like what's this for but this post tells me all I need to know.
But 100 accounts seem a bit too much but I feel your reason for creating such an account is valid. In the not so distant future, if all goes well, you might create more accounts.
Also..being Airdropped such a large sum of money means that you were doing things right. And truly, Leo finance makes uniswap Airdrop a little weak.
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I read your post because I thought you are air dropping some Lio but post was interesting and I hope you do airdrop now
I hope that too :)
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clickbait alert!
Lol you do it and then warn too
That's just damn cool
@edicted, Congratulations for 1000 New Account Creation Ability Mark. Keep playing with numbers and stay blessed.
I think I sold the leo airdrop I got🤡
I dint believe so much in hive engine tokens
If that be the case witnesses should have enough to make some investment in equipments to scale up. Please we don't need to be as big as facebook. Having 20% of what facebook has is enough to move this place in the right direction
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It doesn't matter if witnesses can afford big servers if every other node gets priced out of the market. Scaling up is not a trivial issue solved by simple answers. Every "solution" has a drawback that will hurt the network in some other way. Navigating priorities and weighing options is a mastered skill.
Scaling shouldn't be the primary goal imo. The goal is to be decentralized, otherwise scaling is meaningless. So if blocks start to fill and RCs become scarce, let the price pump.
Yes, hive will be expensive to use, but what's the point of having a cheap centralized blockchain.
With today's Blockchain workload, we are doing well but as you mentioned, we are supposed to get ready for the upcoming hyped days so as not to go through hardship when days come 😌
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I think Bitcoin developers already had that debate and it didnt prove to be a viable solution.
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Not for Bitcoin because Bitcoin just can be centralized as security is #1 priority for it.
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A novel and potentially profitable idea.
Respect for your ingenuity.
@shortsegments
P.S.
I investigated the IRS COVID-19 IRA withdrawals and wrote a post: Link
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Congrats, @edicted!
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the prof that only rich get richer, my airdrop was 100$ :D at least i did not sell it :D
P.S. I tried to claim an account right away and - NOPE - I can't claim one hahaha :(
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Yeah you need at least 5k and the price is variable... sometimes 6k or 7k just for one account every 5 days.
!tan
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Interesting, I honestly never thought about creating accounts to keep and sell in the future. I foolishly thought that accounts could be created in infinite quantities but it is evident that this is not the case or perhaps it would require very high resources
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It costs either 3 Hive or a lot of Resource Credits. You need like 5000 Hive powered up just to claim one account every 5 days.
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