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RE: Hive Scaling RC Burnout: Open Letter to @taskmaster4450

in LeoFinance5 years ago

The ratio of people who are bullish/bearish on Hive as it pertains directly to price is vast. At $1 we are an unstoppable superpower and at 10 cents we are going to zero. I've seen it happen like half a dozen times already.

No one is going to be able to break away from then mentality until our 10 cent support gets boosted up a bit from usage and fundamental gains over long periods of time.

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Right, but somebody is selling, who they are, and the size of their impact, seem like something I would like to know for sure.
We can stop voting rewards to them.
We would be at 5usd right now, but folks keep selling us down the river.

I prefer to maintain a free market. Punishing someone for dumping coins is kinda like flagging Bitcoin that was used for drugs. It undermines the free-market, fungibility, and entire point of the system. Whoever is dumping: it's not their fault that none of us had any liquid coins when Hive was trading x10 at $1. Accounts that sell low don't need to be punished any more than they already are by the market.

We could always guess who's dumping by who sends what to the exchanges in bulk while the price is tanking... but again you'd just be guessing unless you got help from the exchange to violate user privacy.

We could compare lifetime income to current holdings and know, pretty much, who is cashing out.
If stopping the flow of blood from our open wounds is out of bounds, this is gonna be harder than it has to be, imo.