The main thing I want to point out, amongst all the other things you got wrong, is you have the wrong attitude on powerdowns.
IF you are for more decentralization you would advocate whales power down and sell so that the resources are spread out.
Might you be confused on the concept and thats why you would criticize Kenny for powering down and selling?
Optimal conditions for decentralized proof of stake:
Does not need whales to function, ever.
Does not want whales, ever.
Wants staked resources spread out to as many people as possible to further decentralize.
Wants whales and early holders of large stake to sell so their large power hold over the entire chain as is eventually gone(75/25 rewards actually did that). Whales are a centralizing force, that control large amounts of power, all whales with excess staked resources are a potential threat vector to decentralization(block trades can unilaterally unvote top witnesses and drop them from top 20 right now, assuming nobody else counters with voting for said witnesses).
I wont touch the other parts, just find it curious people want whales to be forever leaders, for some reason you "seem" to believe might = right and like a small amount of whales having power to assert their views.
Yes and no. I sold a large part of the stake I once had, and then bought more using outside investment in the past couple of years. The current value of post rewards paid out is about $30 million per year. Without people buying in, with an inflationary system where people earn rewards that are often sold to cash out, the value of HIVE (and reward payouts) would crash, and no one would be happy.
Yes it is conceivably possible, without whales, to have a large number of small investors, say a million new investors per year each putting in $30 each, but I don't see that Hive or Steem has ever been successful in attracting that level of participation.
Would you be open to sell more? In your view on who is still a whale, what does Hive look like in 5 years?
I want to see a ton of smaller accounts with power using thier votes instead of 1 person with a lot of stake.
Vitalik has a great critique on DPOS and how POS is way better. I'm in the POS camp mostly, ethereum POS will be a huge step towards system wide decentralization at the whale or minnow level
I will probably sell again at some point. Right now I feel it is massively undevalued.
In any case, there is plenty of HIVE and HBD (which can be converted into HIVE) being sold from inflation/rewards every day. There is no shortage of HIVE to buy for new would-be stakeholders.
The only thing that it incentivized was self-votes and actually accelerated a lot of concentration of power for those who didn't sell. I guess short-term memories about Haejin and Traf is a thing.
If you want to get rid of your share in governance, then feel free to do so. Don't tell other people that they should give up theirs because you can't help but throwing yours out for a mess of pottage.
People don't necessarily want them for leaders, but you certainly don't help your position by throwing away your power while they opt to not do so.
Is when people prefer to hold than selling. Obviously, there's no incentive for the "average" Hiver to hold HP, thus they sell.
Bigger chains like ADA have over 70% of the circulating supply locked up in people's wallets whereas it's much less so on Hive. Ask yourself why.
75/25 bled out many whales overtime whereas 50/50 doesn't. Make an excel spreadsheet and compare it and you will see each year under 75 25 whales get diluted, 50 50 only does if they sell
There were a few examples of that that free downvotes already take care of now so, specific edge cases like haejin have been mostly dealt with now.
There is no defined technical spec you can point to that requires 20 people to hold over 50 percent of HP for Hive to function.
I do sometimes do that so I decentralize the chain further by allowing my small portion of liquid hive to be used by a new person powering up.
I can and will write what I want to, and advocate for what I want to. I'm not saying "tell" whales did x, I'm saying advocate they do. That's what witnesses and whales are, politicians wielding varying degrees of power, I'm sure you can appreciate people getting thier viice heard to thier representatives right? Who I vote as witness represents me after all, and who I dont vite for also does due to the power dynamics of hive governance.
Hive would be more decentralized without whales, we escaped Justin Sun but we clearly didnt learn our lesson if we r defending whales
Whales are not 'leaders' they are influential in managing the platform and that's a huge difference. They do not directly effect my behaviour.
As for my mentioning his powerdown, you're right. He can do whatever he wishes with his stake but its hypocritical to then turn round and criticise others for doing whatever they wish with theirs.
I try to come with an attitude of gratitude for what I have been given as opposed to whinging about what I don't have or even worse, jealous of what others have. Unless you wrote the code, you're always a guest at someone else's party and if you don't like the music, you either ask for some new tunes or you go find another party.
Whales who vote for witnesses are "forever leaders" as long as they have their stake, they are King Makers and that is actually more powerful in many ways than being a "leader" which is why I called it "forever leaders". They make the Kings that others have to follow(block chain rules/upgrades/updates/etc).
Exactly, while here I will advocate for a far better model, POS Ethereum will change the entire way people see decentralization, Justin Sun could not have done what he did on Steem, on Etheruem POS his stunt he pulled would have lost him all of his stake automatically.
Sounds way more centralized than on Hive, mate. It's pure POS, so the rich will literally just get richer. Here 15% goes to HP holders and 10% to witnesses while the majority goes to authors and curators, do you think the orcas and whales we have here today who most likely didn't buy in or use hardware to mine would exist on ETH? Not saying whales who hold their HP don't grow nicely alongside everyone else but anyone has a chance here earning their way up. Look at aggroed, marky, tarazkp, etc. Hell even I didn't buy any stake until after the 2018 bull run. None of that would've been possible on any other chain, going POS won't help that so it's really annoying when people bring these propositions in their arguments against Hive when there's literally no other blockchain out there offering the same opportunities to "non-whales".
Stop using logical arguments for a decentralization and a wealth distribution project .
"..you're not the kind of droids that the large hive accounts are looking for..."
Small clubs who ethos is 'mooooar' , only want very obedient and non thinking droids - got it?
I am quite aware of that, however, the people reading my exchanges with others is who I am looking to convince of the merits of my arguments(not the particular person I am arguing with).
....this is my reasoning to, with mostly all the comments I make....
And by the way, I got confirmation from v4vapid that Deepdives is a go for Jan 2022.
@regenette why are you downvoting me? I see you are friendly towards lucylin, so am I...And also sympathetic with his issues and have upvoted him many times.
@lucylin any idea why hes dving me?
lololol...she downvoted me to !...you can't fix stupid...I'll let it sink in one day, and stop being such an optimist ! lolol
HEADLINES : Man supports free speech , and against down voting - even on account they disagree with.
The account being supported - downvotes !
....this is what happens when your IQ score, matches your age....