I first started tagging proof-of-brain May 20th when someone suggested that I should. Whatever's clever, free money, amirite? In the first week I sold my rewards because the token seemed overpriced. 80 cents for one POB. Got like $150.
It seemed rude to dump an "airdrop" like that, but I figured it might do better elsewhere... which it did. I've since then reinvested the $150 and got something like 700 coins. I also get a lot of blogging rewards and did various other mini-buys. I now have just under 2k coins staked.
2k POB is a ton.
With less than a million coins in circulation so far, I own 0.27% of the total coins. I consider a 1/1000'th share to be a whales stake at these entry levels. That's 2.7 whales worth of stake for very little risk (close to 100% rewarded via blog posts plus a good gamble).
So that makes me a whale x2.7 on POB basically for free, and inflation and yield is very very high. It might be on the same schedule as Bitcoin, but Bitcoin's inflation was quite high at the beginning.
Drama!
So there was a lot of talk about POB recently. Many saying it was insecure and very risky due to centralization. I would say that about every new token but that's just me. @onealfa.pob has 72222 tokens powered up... that's 8.4% of the total supply.
@onealfa is in? I'm in too.
It would be super rude to dump these rewards rather than dipping my toes in. I'm not rude (this time for once).
Yield
Now that I have over 2k tokens I have access to quite a bit of yield. Bitcoin creates 50 coins per ten minutes. This is the model that was copied. That's 2,628,000 million coins a year until the first halving event (4 years). Seeing as there are still less than 1M in supply and 219k POB will be minted a month, that's a 25% yield for the month of July. Meanwhile, Hive has 8% yearly inflation. This allows us to get around 12% APR because liquid tokens don't control rewards, allowing powered up tokens to allocate more. 12% a year vs 25% a month... Of course all this math assumes a static token price (which never happens).
@lucylin
A lot of the drama with POB stemmed from a political standoff of sorts. I've had lots of interactions with @lucylin, and my... is he a character. I would never downvote him, but also I don't need to be jumping into that mess and weighing in on a topic I've been largely ignoring. Gonna sit that one out for now. I know exactly why he's being downvoted from my interactions with him, in combination with old-guard politics here on Hive.
Inflation schedule
I've been quite vocal about my stance on inflation lately. I'm not impressed by deflationary economics. Luckily POB has no plans to lower inflation for over 3 years so, for now the inflation is hyperinflationary, which is right where it should be imo.
On top of that, 10% of all POB seems to be going to the dev team. If you were going to attack the network's credibility, why not start there? A 10% permanent premine is pretty atrocious, and they clearly aren't even providing liquidity even though the network desperately needs a market-making bot.
The best solution is to ditch order books and switch to AMM, but perhaps that's asking too much.
At the end of the day that's a HiveEngine issue.
Speaking of HiveEngine issues.
POB has also received some flak for muting users from the network, a utility that all HiveEngine tokens have and use. Personally, I don't agree this functionality should exist. But it does so... people use it. It's a simple argument:
Centralized leadership vs corruption liability
Does the benefit outweigh the corruption? That's what crypto is testing on every level worldwide. There will be many winners and many implosions. Business as usual. Singling out POB seems, strange.
Is it strange, though?
Wasn't that long ago that LEO was also seen through a similar lens.
Rewarding/rewarded in 4 different currencies
At this point every one of my posts pays out Hive, LEO, POB, and PAL. The PAL rewards are pretty insignificant but the other three are quite substantial. On top of that I upvote comments which in turn distributes all 4 tokens to my readers/supporters. It's a pretty crazy model and it's an interesting distribution method. Show me anywhere else where someone can earn 4+ different currencies with a single comment. Think about that for a tick, because it's powerful.
Conclusion
Is Proof-of-brain a good investment? Don't know, don't care. I don't have to worry about it. I'm simply going to powerup my rewards and gamble on the market a tiny bit (market making). It's pretty low risk. Again, currently 900 coins is a whale's share. It doesn't take much risk to dip ones toes.
- The yield is high.
- The centralization is high (both control and distribution).
- The 10% perma-premine is offensive.
But still if @onealfa is gonna throw down on it I'm not going to turn my nose up at that. He basically makes this place his full time job, and he works for free and asks for little in return. Pretty good player to have on your side when considering up-and-coming communities.
At the end of the day Hive takes 10% for witnesses and 10% for the dev fund. That's double the tax that POB takes from their stakeholders. This is justifiable because theoretically the value generated from the dev fund pays for itself and 20 + 1 witnesses split the other 10%. That's certainly more decentralized than 10% to a single source.
Is POB somehow better than Hive? In my opinion you can't even really compare the two. Hive is the gas of the entire network and many are woefully underestimating the power of yield farming bandwidth via resource credits. POB is a fun thing on the side that no one should be taking any kind of serious risk on. Keep it casual and see what happens.
It's always interesting getting a new distribution and seeing how people react to the power shift. POB is controlled by POB holders, that's a pretty niche group. Same is true for LEO and CUB. Same is true for Hive when compared to a bigger network like ETH or BTC. We see the tribalism pop up everywhere and it's hard to tell if the arguments for or against a certain token are riddled with bias or not.
I would say this review is both extremely unbiased in several ways and biased in others. At the end of the day I can't filter out my gut feelings when it comes to these matters. And neither can anyone else. Eliminating ego and bias completely leaves us with too many unanswered questions. Assumptions must be made. Hopefully we guess right more than we guess wrong.
I assume that POB will be a fun token to play around with WITHOUT taking any kind of serious risks to one's portfolio. If I were going to put a number on it, I'd say if you have more than 1% of your total worth in POB you are already quite overextended. That's a pretty reasonable matter of fact.
I'm not overextended on POB, but I am quite overextended on Hive.
Call it a guilty pleasure.
I believe in the power of the main chain.
That doesn't mean I'll totally ignore the rest.
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@lucylin is my long time buddy, like me he is not shy to say what he wants. I think POB is ace. IMO
Thanks for sharing. POB is one of my favorite tribes as well. I will continue to support it. I do not get involved in the drama or politics of the tribe.
I started on hive in May. You state that "if you have more than 1% of your total worth in POB you are already quite overextended", excluding a token that I hold that does not have an established market (buy/sell orders) POB is my largest holding. I am ok with that and want to continue adding to it. I am sold on the Hive platform and all of the various tokens potential.
You are overextended, and that's fine.
Support the communities you want to support.
There are no rules.
I also plan to accumulate a lot of POB, someday it will be very worthwhile, and since I earn it from my publications it is the best investment.
And I also find the 4 coins interesting, it is much better than a defi.
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I sold mine when they unmuted a whale who's stated intention was to control a tribe he didn't hold stake in.
Too bad.
Lucy is a character and dramatic and at times tedious, and annoying, but he isn't a scammer or a spammer and neither is Frot.
No need for me to get involved, but with a complete breech in autonomy, and difficult to respect.
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isn't a scammer or a spammer...
thanks! - lol....
I thought that's what you were accused of or maybe it was overly rewarded.
A favorite trick call someone a name that doesn't have a defined meaning... Milker, Spammer, Scammer, and attack.
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I'm an all round twisted misfit!
The mute list...requires a bit of transparency imo. I'm looking at it now.
Regarding the whale, was that back about a month ago with Lucylin? Yeah, the community had a real issue with muting in general without explanation. I believe that's why it was reversed.
Do you know if any tribes have appeals processes for these mute lists? I'm waiting on a response now about it, but thought I would ask around.
I have no idea what happened with the POB mute list.
It's fine in my opinion for any community to create their own rules, mute, add flags, remove flags, have a weird reward distribution... etc.
That's the entire point of tribes.
Each person can decide which tribes to participate in or not.
When someone claims as a HIVE holder they have the right to police ALL the tribes.. That's a turn off to me. Each person just has to decide what they want to support. :)
What are you talking about?
Don't be funny.
Like who?
It didn't really matter much, the "big dog" is carrying on the downvote campaign anyway. Everyone thinks the sun shines out of his ass, poor souls.
Without getting too involved myself (because the back and forth is predictably tiring), is this the comment which stated the intent?
POB has been my best investment in years. Highest Curation Rewards on the Planet. I'm buying every dip.
Without risk there is no reward. Good to see your taking a chance on POB.
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I've had no regrets on using the pob tag since first hearing about it, and have also been pleasantly surprised by it holding such a high value!
my strategy has been to power up half of my rewards and sell the other half. .. probably would be better off with a higher stake since the returns are so nice on votes, but i figured it it was a safe way to enjoy the extra hive while building my pob stake slower.
I think you'd have to be crazy to not stake some of ANY new tribe that gets launched. Ever tribe (outpost coming soon) that gets launched is another "chance" to be a whale in that community. Even though you might not be popular on hive if you're a whale and popular on a well established and powerful platform like LEO well you're still going to earn hive and other tokens at a higher rate because of that "status" you have. POWER UP!
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Don't forget your PAY tokens.
might need to get more to bump it up to 5.
It's all proof of brain, too.
I'm powering up people that have powered up what they have, I hope to make the distribution look better.
It has already added some curve on marky's tool.
What about that PAY token? Care to share some more details?
It pays on several hashtags.
This tool will show you more about it.
https://hiveengine.usehive.com/
I was surprised by the high price of POB quite soon, so I use the tag on every post actually. As soon as the drama started I was a bit in doubt if things would collapse, so powered down a bit, and once I noticed things were not collapsing, I stopped the power down again :) I will stay away from the drama while continuing to use the tag :) lol
I sold virtually all my tokens at the early stage cause I felt it was overvalued...glad I did as I used the tokens to power up on hive.
It's still one of the better tokens to hold off the chain so I would be looking to rejig my strategy a bit by staking a bit more
Great article! It made a nice change to read something a little more balanced.
Blimey. Really? I have 3000!
I'm going to have to check out the 1% figure but I'm pretty sure I'll be well be low that. 😊
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Unbiased objective opinions is why i read your blog boss.
This POB drama is a doozy, and kinda predictable with the muting methods that are in place. Not my platform, who am I, but I'm not a fan of the idea. I thought that's what DVs were for.
Alls I know from the drama online is it does send somewhat of a chill down my spine, "watch what you type or you might get a DV trail nuking you to oblivion." While that advice is in general sound, it does have an affect of "personal censoring" a bit.
The things I like to type about are just techy and gamey related so I kinda think I'm mostly safe. But still, the lil thought in the back of my mind is there.
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Yeah, exactly. :-)
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I am slowly staking and increasing my pob power. I am sure any new community goes through all these struggles. I am just having fun writing and doing as much as possible on Hive.
If you don't take the risk, where is the fun in life? You will be losing touch with mother nature.... I guarantee it
You see, POB having a complete Bitcoin model should tell you something
We will have the same disrespect that Bitcoin had until now. I mean did Jesus not say his disciples won't be appreciated by the world because the world didn't respect him too?
So, think about it, our mother-Bitcoin gave us a path, and we are following her guidance. No matter, how much fights that ensues around POB, I will tell you one thing, it makes POB more popular
My favorite author did say, if people aren't talking about then do something about it. Why? It is better to be slandered than to be ignored
We had more eyes feeding on POB when the fight started. I can assure you that investors are secretly watching, once, they see a slight upgrade, they will be dipping their feet in too
I encourage you to not do this just for the fun alone, POB is worth taking the risk for.
It will be reach a milestone in the years to come, and I will be happy to see you as one of the Whale
Thank God, you have a role model and he is doing a great job investing his time, energy, and resources.... Surely, he is worth following
See you at the top, buddy.
I also have about 1200 POB stakes in my dedicated account @claudio83.pob.
however, I have not yet fully understood what the path of POB is and where it will lead us.
POB is successful because some users have invested a lot and the price has been on average high.
as you say too, if @ onealfa.pob sold all its tokens, the orezzo would go to 0. The whales have the power to influence the market but this is a risk that every crypto investor must know well
Wrong! if he would sell all its tokens, that only would mean that someone else would be buying it.
Therefore, everything still would stay in home. :)
I had been powering up all of my PoB when it first started dropping. Lately I have only been powering up half of it and selling it due to the drama that has been put out there. The accusations were enough that I felt I needed to distance myself from the platform a bit. I know some of the more established Leo users got tangled up in it.
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Well, I'm going to give my testimony as a "non-whale", all my stake in pob has been built so far on "proof of brain" really, all through rewards for published texts and curators. And that way I've already got more than 1k of pob. Many situations caused doubts about the consistency and structure of Pob, but in the world of cryptos we know that any rumor turns into a tsunami. In the end I think the pob will only grow and improve, I do have some hope in that and I even hope to be able to invest a little. For now I'm still sailing with the sardines, but maybe one day I'll turn into a whale.
In my own view ill say the future is one that can never be predicted. I am positive that things will change for better when it comes to dramas and corruption in general.
Time will tell if it's a better choice to invest in or not. Either ways enjoy the ride.
!PIZZA
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@edicted! I sent you a slice of $PIZZA on behalf of @marvinix.
Learn more about $PIZZA Token at hive.pizza (8/10)
Wise decision. There are lot of benefit in powering up than just converting to cash or leaving the token just like that.
Thanks.
The token has probably come to stay it looks like, the more of these stronger tokens show up here, the more stable the whole hive network will be
I've personally found it difficult to earn Leo (as I don't generally blog about finance) and at where my account is... if I'm buying with fiat (and I do), it's generally straight into HIVE itself as those rewards I understand. POB I get some of and I've been just leaving it liquid as I had no real idea what the hell to do with it. I'll maybe start powering it up and just passively amassing whatever I get through content generation. We'll see how it goes!
💥Double Boom !💥
More info why you see this.
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TWO reblogs, and TWO promotions :)
Yeah boss mate am doing that immediately.
Reblog!
Hmm yeah I guess I'm quite overextended too. Never bought any though, there's just a lot of rewards and amr's engagement project has a crazy apr on pob..
But yeah at some point gonna use some of it to diversify. Probably when the hype wears of a little or the apr lowers.
don't forget they mute @azircon for the whole platform. This was IMO the point the shitstorm becomes big. Before this it was some average hive drama that happens from time to time.
I have around 300 Tokens and I don't dump them simply because why I should do it?
Because POB looks not really innovative for me, i cant tell it will stay in some years from now.
General communities are IMO always difficult.
You pretty much summed it up perfectly. Thanks.
(I am pretty sure it was me that got you tagging POB -sorry, you're welcome)
I currently have like 1.6k staked and a few tokens that I haven't really touched yet. The drama looked annoying and after I read a post or two, I just decided to ignore it. I didn't exactly pay for the tokens so I will just ride it out and see what happens.
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Thanks @edicted for the good insight, #pob and other tribes on hive network are good investment but cannot be compare to hive token. The difference is clear. My favorite is #leo #pob and I also like ecency point reward system
I'm not convinced by these pob tokens or others. First there's the hype and everyone stacks and posts with the brain tag. Uaaah!😀🔥 It's ok and I do it myself but what use are these tokens? It's more about the community and how they integrate and I know pob is probably like that.... Look at the token palnet you mentioned. I made a lot of money the first time it came out. How does it look now? Is it alive? 😀 Anyway it's worth adding tags of valuable tokens as well as commenting in pob community and others.
Get free money, sake free money and then make more money from staked free money.
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I own the ones from the airdrop and what i earned posting, still considering to invest...
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Hey there many thanks for the POB insights. I'm staking/powerup my POB on Hive-engine now. I use the tag and it works out nicely. There will often be drama for new projects. Perhaps people are competitive or eager for profits.
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!PIZZA !PIZZA !PIZZA
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@edicted! I sent you a slice of $PIZZA on behalf of @cooperclub.
Learn more about $PIZZA Token at hive.pizza (4/20)
I just started posting to POB as well, also on suggestion of someone else in the Leo community. It's pretty neat to triple-dip posts for rewards - I'm actually going to write a post regarding multi-tokenized post rewards in the next week or so, as this wasn't something I focused on until coming back a few weeks ago.
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Your content has been voted as a part of Encouragement program. Keep up the good work!
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Quit poking the bear and your rep will come back in time.
Try some of this in your survival bunker.
https://archive.org/search.php?query=kurt%20saxon
He is the one that turned me on to what is playing out now.