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RE: That Idea of 'Removing' the Hive Rewards Pool

in LeoFinance7 months ago

Sounds allot like moving towards a pay to play model (if new users can't earn HIVE for content creating they will need to purchase it in order to interact with the blockchain). Such a model requires a very large user-base to succeed. This is because most users simply won't pay as there are endless of other socials out there that offer ways to earn for content creating. The ones that don't offer rewards get away with it due to their massive user-base. I see making this change at current time as a very risky move. If the goal is to minimize content creation, removing the reward pool will do just that. The core supporters will likely continue to create but it will just make things significantly harder to onboard new users. That is not to say that at some point in time shifting the current system to only reward second lawyer tokens won't work (it very well might) but I believe we need a much (MUCH) bigger user base for such a thing to flourish.

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Yes, the active user base here in terms of people creating content (commenting and posting) is just about 10k if I'm not mistaken so getting rid of the rewards pool isn't sensible unless there is another way to incentivize people.

Even when L2 tokens can be used to reward people, the question would be, what then becomes of HIVE? It is a controversial subject and even Rondon said it is not something to be taken lightly. I'm quite sure that this idea won't go far because as some people pointed out, it will have a negative impact in the governance of the blockchain.