I would encourage you to use the accounts to grow a project versus store for future sales. For those accounts to be worth $100 then Hive would have to be over $33.33 and our usage would still need to be scaling well past that point.
This assumes that Hive accounts will always cost 3 Hive.
Why does everyone assume this?
I do not know.
The RC system has been stress tested zero times.
Give it one time and lets refactor.
Would RC pools solve the issue if it gets implemented before it's tested?
Posted Using LeoFinance Beta
no
Fair point about a change in the rules but as @jfang003 points out we'll have RC pools soon™️. That combined with the eventual adoption of light accounts, in my opinion, should limit the value of base layer accounts over time as consumers find they don't HAVE to have that base layer to transact.
It's not a change in the rules.
The cost of creating an account is controlled by the witnesses.
They just haven't changed it yet because there has never been overwhelming demand.
Light accounts are not helpful, as they don't actually reduce the number of accounts required. They only change the UX for newbies and onboarding (IE giving control of the account to a centralized entity temporarily).
RC pools will actually make the situation worse as it gives all whales a financial incentive to lease their RCs at a profit and flood the market with them, push the price up for everyone else due to massive hyperinflation.
It is possible that custodial accounts could control more than one virtual account just like centralized exchanges do, but that tech doesn't even exist yet as far as I know... because there is currently no incentive to develop that functionality.
I stand corrected on my verbiage. I just meant a change in the existing variables that we use but it is a good distinction to make on rule versus witness variable.
How would light accounts not be helpful? What other advantage to having a full account would there be other than having a shared nym across multiple apps? If @splinterlands utilized light accounts then the major use of account claims dries up overnight. I know I've seen some new users on sportstalk from splinterlands but I doubt the majority of these new accounts are using other dapps.
That would also likely move the publishing RC cost to dapps who would then be incentivized to provide posting ability (RC) for posts they deemed valuable from the light accounts. I'm assuming that's what you mean by custodial though the rewards could theoretically be set with automatic beneficiary to the light accounts still keeping it non-custodial in regards to funds. Hasn't LEO adopted an early form of this where they would let accounts from ETH still use LeoFinance without an actual Hive account and just publish from their own account?
You can create a Hive account with an ETH signature, but the Hive account still gets created.
It really depends how you are defining "Lite Account".
So far, all "Lite Accounts" are on layer one and are just regular Hive accounts that someone else controls.
In essence, this doesn't reduce the number of Hive accounts created, it increases it by making account creation more accessible.
I wasn't sure how they were doing it. I assumed they were just using some LEO based nym like @leoauthors and funding it with enough HP to cover the RC needs then processing payout rewards straight to the associated wallet address in b/wLEO post conversion. I haven't kept up well with the projects but see headlines and just assumed how things were being done.
I'm referring to light accounts as what @howo described as allowing people to own and pay with hive way more easily. I can't remember where I read it but my understanding is these would essentially be wallet addresses like Bitcoin addresses that would be cryptographically generated and thus be limitless in nature. Those accounts could then store Hive in them and transact but wouldn't be able to publish or use RCs beyond the free transaction limits.
If that were the case then dapps could still accept publications from any of these light address to be stored within their own database. Then as desired people with access to that database could publish the content to the Hive blockchain while still giving beneficiary status to the light account for any rewards earned.