In my 9 Years In this ecosystem and 12 years in crypto I have seen a lot of funding models and marketing efforts succeed or fall by the wayside. All boats may not rise this cycle because of oversaturation and global inflation knocking retail investors teeth out. It is one reality we must face. Will Digibyte Moon or be forgotten? We just really can't say for certain but let's make sure we don't sink. 🛥️
The fracturing of the various communities has been detrimental in the long run. Each system took a different path and there were merit to the various power down cycle lengths and return rates for debt like the HIVE Backed Dollar (HBD). What has been built is very impressive and I have said many times over the last couple of years that HIVE is the most fully developed Web3 Ecosystem. That is true today but we have a lot of competition from projects with Market Caps over $2 Billion. We can argue the advantages and disadvantages of various projects but currently they have a lot of attention directed towards them and have a lot of value locked. They also are listed on some of the main US Exchanges like Coinbase, Kraken, and Gemini. These listings are hard to obtain as we know and making additional connections to these top chains is crucial to onboard those communities and provide incentives to engage and contribute to the ecosystem that has been built. We don't want to be MySpaced out. The chain is getting older and so is our userbase. There are only around 3,000 active users on Hive posting and commenting at this point when Bitcoin is well over $100K. STEEM and Blurt have a smaller userbase. Combined all this needs to be in the millions. The game theory and incentives have to be on point, it has to be marketed correctly, and it has to have additional revenue sources.
I'm Building A Cohesive Ecosystem With Effective Game Theory
Everything that has been done with Peakd, Ecency, InLeo, Hive Engine and countless other projects has been awesome. WE NEED MORE and we need it to speak to the extremely short attention spans of the new generation coming into crypto. All the existing stuff will still exist and people can be on their various interfaces but my will produce additional rewards from chains that are in the Top 50 on CoinGecko.
- Referral Rewards (Two Levels)
- Tiered Levels That Produce Additional Rewards (Silver, Gold, Platinum)
- Unique Rewards That Aren't Just Based on Stake
- Liquid Stake
- NFT Profile Picture (PFP) Capabilities
- Badges
- DEX and DeFi Offerings
- Trending Based On More Than Stake
- Gaming
- Task and Market Modules
- Ticket System Where Someone Can Speculate On Other Users Accounts And Participate In Their Success
- Additional Revenue Sources To Support Creators and The Ecosystem Past Bull Market Euphoria.
How Does This Help HIVE, STEEM, and Blurt Price?
Part of the interest that is created on the other chains is used to buy up HIVE, STEEM, Blurt and power it up into their HIVE accounts, Steem accounts, Blurt accounts. 🤯 So hitting various tiers and receiving the reward will charge a fee and sell it for HIVE, STEEM, Blurt. For instance if someone had just a HIVE and Blurt account connected the system will act as a multi poster and then would sell part of the rewards for HIVE and Blurt and power that up into the connected users accounts.
This seems counter intuitive to sell the newly created assets but enough buy demand will be driven to those assets to maintain certain levels and engage in DeFi rewards and the benefit of the prices of HIVE, STEEM, and Blurt coming up will outweigh the small amount of sell pressure to the new assets. Getting the existing active community involved is imperative and as the price comes up a lot of dormant accounts will reengage as we have seen in the last couple of bull markets.
People are very tribal and several blockchains don't have a social media platform where they can earn and engage in that ecosystem. Onboarding those communities is the activity and capital injection that HIVE, STEEM, and Blurt need. Initially these users don't necessarily need to know what the system is riding on but overtime can venture deeper down the rabbit hole.
Why Even Connect To HIVE, STEEM, and Blurt?
Number 1 would be the communities. It's extremely hard to build that. Even when the new interface is marketed the community needs to be vibrant and people already here. If you walk into a bar and no music is playing and no one is there you will likely turn around and walk right back out.
The second part is the system is built out. All the stuff figured out with RC and the reputation system is the framework to not get spammed as bad as a YouTube and Instagram comment sections.
The HIVE Backed Dollar (HBD) is actually one of the more impressive things in crypto. I don't trust USDT for more than doing a quick trade and I have even seen USDC lose it's peg which doesn't make sense. HBD is well thought out compared to other algo stable coins we have seen throughout time. This opens the door to build out an entire economy.
The benefits of these other chains can be utilized but built on the foundation of what has already been figure out. Resource allocation can be very tough as we have seen previously with EOS and we more recently have seen it with ICP. Any zero gas fee / reverse gas fee model will be exploited and people will try to harvest rewards from it if it isn't well designed to guide them to not be a full blow spam farmer. 👨🌾
STEEM and HIVE have liquidity with being on exchanges like Binance which is huge. They also have decentralized funding models with available resources to build with.
Why Not Just Make A Hive Engine Token?
I think the HIVE Engine is awesome and it will be utilized in this system but for the main token we need a grapling hook thrown up to the chains in the top 50. We need their communities, their economic energy, and what their technological advancements bring to the table to give us more capabilities. By connecting to them it can allow us to pull our way back up. They will be like adding twin turbos.
We got the baseball team and have been going out there for over 5 years against MLB Partner League teams starting when everyone else was locked down.
The NFT set is nearly ready and it is more about timing to make the whole ecosystem more attractive to additional communities and onboarding new users.
Funds
For HIVE I'm asking to prime the pump with 1,500 HBD / Day for 60 Days partially because of the way the proposal system is set up now. Some of the funds can earn interest in savings to extend the reach but ultimately another proposal might have to be rolled out at a later date.
For STEEM I will do a proposal length of a year initially and for Blurt the proposal will be more for awareness to build support because the market cap and liquidity situation is a lot lower there but it is an important piece.
Conclusion
We need to be taking massive action and sprinting right now because these platforms haven't participated in this bull market.
Thank you for your time!
Vote On HIVE: https://peakd.com/me/proposals
Vote On STEEM: https://steemitwallet.com/proposals
Hi @brianphobos
The idea of strengthening the Hive ecosystem with a cross-chain, gamified, and incentivized structure is a good one, but in your proposal:
You are asking for 1,500 HBD per day, but you do not provide precise KPIs, and there is no transparent spending plan
Hive is a DPoS, and staking is important and shows interest in the chain.
Trust is built with projects that have already been completed and documented in the past, with active staking and more HP.
In the six years I have been on Hive, I have seen many projects come and go, and many that died quickly or were never realized were proposed by accounts that had no HP, such as the psyberx project (the creator had 0 HP and an ambitious idea that was never realized).
But now I'll ask you a question: Would you give me 90K HBD to support an idea of mine without a concrete implementation plan?
Prove that you can implement your idea and I'll consider supporting it, but for now, as @stefano.massari, @trumpman, and @stayoutoftherz have written in the comments, I don't see any logical reason to support a proposal that has some valid ideas but asks for a lot without a practical implementation plan.
Thank you for your comment. The involvement of Blurt and Steem aren't really a problem because think of that part as a multi poster. Nothing is changing with HIVE, STEEM, or Blurt and a user could still exist here on HIVE posting through whatever front end they are using and not be aware of this project.
To address the funding amount and the way of looking at it someone could look at it many different ways. You ask if I would give you 90K HBD to support an idea of yours but no one is asking that with this. I'm not asking you or anyone else to send 90K HBD directly to me from your wallet to mine. The system is inflation based and HBD is a debt against HIVE. It's a little more like everyone voting to allow me to have a credit card. It's no direct skin off your back.
As far as additional devs and testers the most obvious source of the majority of that is here because they already know how to move. That being said I would have some testers that aren't really involved in crypto to see if they get confused and if it is user friendly.
I would waterfall a lot of the funds into HBD Savings to stretch the funds out with the 15% and pay existing members out of that and also allocations of the NFTs and new asset. That being said a lot of the 90K HBD ends up staying in this ecosystem but even if it did get extracted and sold it is a lot but isn't a lot at the same time. Finishing this and marketing it isn't light work. How much are devs worth? Even if you try to compare it to a yearly salary I would have to be very crafty and compartmentalized with the tasks to stretch this very far. It's a short runway.
I don't remember the "psyberx project" in particular and someone else brought up the amount of HIVE power I have currently. The most my account was ever worth over on STEEM was over $20K but had over $60,000 on Cub Finance and ultimately PolyCub last cycle. HIVE usually makes it's move late in the cycle so I let power build and bring other assets over when the conditions look right. Some are HIVE maxis but I'm on tons of different chains.
In regards to the staking with these different chains. All of that will still exist but for all practical purposes the majority of people in DeFi and people to crypto don't like the idea of having their assets locked up for months or years. If they stake they quickly want to unstake. That is why I mentioned liquid stake for the new assets and NFTs. As far as HIVE, Blurt, and STEEM nothing would change.
This isn't a knock on you or anyone else but the common thing I see on this platform with any of the support or funding is people expect someone to roll out an finished product and then MAYBE they will get support from various individuals that MIGHT push it over the edge to get funding. It becomes a very weak proposition.
It would be like Google telling me that despite my reputation, contacts, and experience I can come work for them for free as a tryout for 6 months. How could anyone expect someone to do that? What is the DAO funds for? There aren't hardly any proposals submitted outside of the tight inner circle but then most would agree they aren't excited about the price action or user retention here but the DAO funds continue to be under utilized. I'm providing a potential solution.
Proposals getting more retarded by the day. I don't even know where to start with this one. I guess that's the only way to get them passed?
Good luck
P.S With a rep of 72 I'd expect you to have a bit more hp if I was to trust you with a proposal vote. But hey, that's just me
Let me know how it's retarded to give additional access, functionality, additional rewards, and market it.
Also what makes you think anyone new to crypto would be attracted to HIVE or even knows about it?
That 45 KE 👀
Why even care about the Blurt shittoken? With such a proposal it gets more attention than it deserves, same with Steem.
Blurt has been having good volumes comparative to other assets on Hive Engine.
Why do new people in crypto care about HIVE? Do they even know it exist?
That needs to go. We are the only thing keeping that shit coin alive. Pathetic.
It's on Probit too. With all the volume on Hive Engine something seems to be happening. Guys stacking bigger bags in anticipation of something.
Regardless of that HIVE, Steem, and Blurt are all primarily in a long tail and need a spark to get things heading up and to the right.
Steem and Blurt are shit coins. There is no reason for either of them to exist.
I disagree. They have their own communities and the systems are still functioning.
Steem is a bunch of thieves and corrupt government. Blurt is just a shit show with 2 votes gets you to the top of trending. It is mostly just people crying about not making rewards on Hive.
sorry but that Downvote button makes hive the actual shitcoin... try getting an investor to put in 10-20K... aint gonna happen with all the shitheels here who have a Downvote stake that's too high because of ninja mining. The best investor was Hijin back in the day on SteemIt, who was then downvoted into leaving after buying a decent amount of Steem... same thing happens DAILY on hive now.
hive looks like a better token in theory Because a few dicks here are circlejerk upvoting themselves plenty of cash... but it's broken and time will tell the same story... that people don't like their rewards being touched by a cabal of reward pool rapists who have cheated this chain for five years.
Blurt wins
:bacon
What downvote button?
let me help you in the rare event you genuinely didn't notice it yet :)
It was a joke
@themarkymark ya learning ya cocksucka???
I could understand moves to enable automated or semi-automated cross-posting of content to enable users to earn rewards and build up a stake on each platform.
Leveraging the combined strength of all three platforms could benefit all of them, provided it was done in a way which attracted inward investment and new/returning users rather than just redistributing existing reward pools.
However, this proposal appears over-complex in terms of what it plans to do, with 12 different pieces of functionality listed. I'd like to see details of the coding team and management who would be doing all the work involved across three different platforms, as well as roadmaps, detailed plans for how the funds would be spent, etc!
There are also a lot of other points to consider - many of which echo what others have said;
Thank you for your response and I will try to answer as many questions as possible and will likely end up doing a video response to answer various questions as well.
Thanks for that - it helps to start filling in the gaps, although I think we still need detailed plans. It's an ambitious project; maybe co-ordinating with the Leo team might help with it, they've done quite a bit of cross-chain work recently.
But I still would like to see a tangible, objective metric for what success looks like and how it adds at least 90K of value to Hive. Progress updates are an essential part of the process, but in themselves don't add anything to Hive's market cap or user base.
I'm supportive of what the Leo team is doing and have a small position but they are taking a slightly different approach. Also their proposal didn't get funded despite having some heavy hitters vote on it so they are in a similar boat from that respect.
I get what you are saying about wanting to see further breakdowns and objectives and it isn't against you or anyone else but I could do endless work in the "maybe" stage of all this to still not get funded.
I think one of the failure points of a DAO is that enough people look at the amount and say. "No fair..... why don't I get the 90,000 HBD?"
So then it ends up being projects that are very close to the shrinking inner circle.
The votes are very heavily guarded for content and for proposals even for people who have been here through all this for 9 years like myself.
The risk of people voting is pretty low. If I wasn't producing updates and progress in the first couple of weeks it would be easy for someone to just remove their vote.
I agree with others that this proposal is too vague to support, especially for such a lot of funding.
The split of the community when we forked was a blow as a lot of people did not come over to Hive for various reasons. Some had supported the old regime and there are those who will not forgive that. Others felt they have been driven away and we need to avoid that where possible. Hive is definitely the most evolved of these, but we desperately need more users. How will this proposal help with that?
I agree that the platform desperately needs more users and this will have a coordinated marketing effort.
This doesn't change anything on the protocol level. This will ride on top and provide extra rewards, extra functionality, and be marketed. Community members here could use it and tap into that or not.
As far as "a lot of funding" it's all relative. How big of a salary would you expect software engineers to make and how much would you expect it to cost to effectively market something like this with all the noise out there?
There is a lot of money sitting in the fund and for the most part it's unobtainable so if proposals don't get approved and marketing efforts aren't rolled out how can we really expect new people to show up and for the price to come off the floor?
I get that the money is relative, but you have to be clear on where it will go. I know marketing is tricky and we have failed at that previously. You need a lot of support to get funded, so you have to be very convincing, especially to the big accounts.
It's a big hurdle for sure. I see some of the heavy hitters that voted for the latest InLeo proposal and they are still below the threshold.
For investors I don't know how anyone expects anything to change, for new users to be onboarded, and for the ecosystem to grow if doing a proposal and getting it approved is such a long shot for anyone outside of a very tight inner circle. There are some great projects being funded and it is more of a continued support thing but we are losing numbers and aren't onboarding the masses. Things overall aren't on a good growth pattern.
I get proposal owners asking me for help, but there's limits to what I can do. You have to sell the idea to the whales and I see at least one is not impressed. I know some disagree about what does get funds. If you think your idea has value then you may need to find other ways to fund it. I see people building Hive dapps without proposals.
The onboarding is a whole other issue.
I certainly get the uphill battle and I have seen a lot of projects roll out very impressive self funded projects and still not get funding. @partiko is one that comes to mind.
As the inner circle tightens it will essentially become impossible for all but a very tight group to get any funding and the user base is dwindling.
Also another thing to consider is that there is a lot more competition for HIVE now than there was in 2017 / 2018. So why should someone build here and not just fully build on one of the blockchains that has a bigger market cap?
If it is going to be self funded developers are going to continuously look at their options. HIVE isn't landing high on the list for most developers these days.
These chains need more users and a liquidity injection. It's a worry that continuing down the current path isn't going to magically produce that.
Projects can get funding by taking a share of post rewards, but you need to develop something first. @strava2hive is a fine example.
I know the issues, but it's not me you need to convince for your project.
A fish and a bird can date and marry. But where did they live?
Maybe because I'm so recent, a little over a year old, this proposal completely confused me.
The question that comes to mind is: how did they cohabitate?
Regarding the Steem vs. HIVE war, you know better than I do. Blurt appears to be a HIVE graveyard—users disappointed mainly by downvotes (an important tool against abusers and greedy people). How would everyone get a seat at the table?
What HIVE needs is a good visual identity and a consistent marketing plan to attract new users.
Then, there must be support and assistance for these new users (as OCD does in its integration plan. But there must be more OCDs).
Think of it as a multi poster. Someone could still hang out on HIVE be unaware the other app even exists. This would have cohesive game theory and even the people coming to it wouldn't necessarily have initial knowledge of what STEEM, Blurt, and HIVE are. HIVE hasn't been marketed in a large way. There have been some grass roots initiatives which have been really good but we aren't brining in the masses. There have been moments when we have. Jerry Banfield's STEEM marketing campaigns from 2017/2018 and Splinterlands onboarding a ton of users last cycle.
I agree with you there needs to be a consistent marketing plan that is fresh and new. This is what this will provide. A lot of chains try to do a rebrand. We don't need to do any of that or change anything on the protocol level. This will ride on top and provide extra rewards, extra functionality, and be marketed. Community members here could use it and tap into that or not.
In my opinion, Blurt offers nothing, and Steemit is dead, so I need a much better argument for reintegration.
Steem has a marketcap of over $67 Million and 24 hour trading volume over 11 million.
It's not changing anything to any of them on a protocol level. Someone could just hang out on HIVE and not even know this other thing existed and nothing would change.
This will ride on top and provide extra rewards, extra functionality, and be marketed. Community members here could use it and tap into that or not.
Steemit is still dead to me. We broke away from Justin Sun's empire for good reason.
Well that's fine. Some of us are still posting there and on Blurt. I personally felt like the war / standoff hurt the whole ecosystem in general. We have never really returned to the momentum we had in 2017 / 2018.
I don't think it's a good idea. The risk of completely destroying HIVE is very high.
How is this going to completely destroy HIVE? Nothing is really being changed to HIVE itself.
In my life as an industrial designer, I've noticed that when you put products of different quality side by side, the overall quality of the system changes. Even just in terms of the popularity of the machine. !LOLZ
Do you feel HIVE should stay the same or do you feel like there should be more development and marketing for it?
Thanks for the question. I think HIVE needs better marketing.
What do you feel is the best way to market it? To market an individual app like Ecency or by giving an overview of the ecosystem?
I would love a nice advert on Brave Browser
lolztoken.com
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For anyone who is new to steemit vs hive, here is a quick recap.
Steemit is a security risk and we do not support it being used in any way. The protocol its based on was compromised in an attack called a "51% attack".Steemit was compromised on March 2, 2020, when a hostile takeover occurred. This event was triggered after Justin Sun, the founder of Tron, acquired Steemit Inc. and used a large amount of STEEM tokens from the Steemit platform to influence governance. This led to a hard fork and the creation of a new blockchain called Hive, formed by the Steemit community as a decentralized alternative.https://storage.courtlistener.com/recap/gov.uscourts.vawd.119172/gov.uscourts.vawd.119172.120.0.pdf
Order Regarding Settlement and Disbursement of Interpleader Res, Bittrex, Inc. hereby notifies the Court and the Parties that Bittrex has disbursed the disputed funds consisting of 8,752,313.006 Steem and 294.207 SBD to Plaintiffs in the manner directed by Plaintiffs.Well... it won't pass, no matter what i or anybody else think about it. Man, you are not in the Hive Club! Without that, you can't get free money from DHF.
So hug with those guys first, then you don't even need own proposal, they will give the money to you from valuplan. You can even ask it for building ant farm in the middle of the Sahara, it will "pass"...
Anyway, your "proposal" reached the same "standards" as valuplan props, strange that some people support that money waste, but don't want to support yours.
Get in the Club first! :)
Yeah unfortunately it's my 3rd proposal overtime and at the end of the day you are correct and then it becomes a question of who is going to show up here and build anything?
People want someone to show up and power up $1,000,000 worth of HIVE and then build out a complex app to then MAYBE get approved. It's a little much to ask and a lot of the stuff people brought up is sort of distracting from the problem. They will say they don't like STEEM or I didn't break it down enough for what I'm building or various things like that but in reality where are all the proposals to select from?
I knew it was an extreme long shot and it's funny how some of them are actually laughing at me. Literally laughing at someone who would submit a proposal for funding on the DAO system that isn't being utilized fully and is supposed to be for projects to get funding to build here.
I’m a fan of urs, but gotta be honest, this makes no sense. Also where is the detailed plan ? Respectfully this is not looking like a serious thing at all. 1500 a day for what? No real details here.
Also the idea makes no sense, the forks happened for a reason.
I’d love to support u! But this is a mess. I hope to catch u on next one.
The concerns others made about ur HP being under 500 is a valid one. I’m only replying because I’ve known ya from SGS community. If u aren’t trolling here share serious, you need to not have a KE of 38 plus meaning the ratio of powering down you’ve done. Again I’m just mentioning it because it is very relevant if ur asking people to trust u with 1500 a day of our community funds. Respectfully, prob a good idea to take this down until you can give better answers to these questions.
What everyone is asking for is for someone to basically buy a huge amount of HIVE power to then be qualified to maybe get some votes for a proposal after being on the chain for over 9 years.
Are there guys with technical degrees from Purdue University and over 12 years in Crypto begging to pay Microsoft, Meta, Amazon, Coinbase, Kraken to have a non paid internship for years to then MAYBE get an offer?
There is a reason why no one is really showing up and doing proposals or having a huge reason to develop here. It's circle jerking right down the tubes. It's happening to other chains as well so it's not alone.
If this gets funded I'm changing my strategy to this..
But if it doesn't get funded.........
I wish you success in your projects and endeavors. You have my full support. I truly congratulate you for growing our #hoveblockchain ecosystem with new ideas and feasible proposals. Good luck, @brianphobos
Thank you for your support!
Blurt and Steem have their own DHFs. We don't need to help them in any way.
That's not even funny. 💩steem💩 adds zero value as a blockchain, same does blurt. The first is centralized and broken beyond repair, the second just forked the first’s code, ripped out downvotes, and calls that "innovation".
I couldn’t give a flying flamingo what their prices are, and actually I’m surprised the market hasn’t taken them to zero by now.
Now you show up asking Hive’s DHF for 90000 HBD so we can join back with 💩steem💩?
That’s like asking the victim to kiss the rapist.
No.
Hive’s metrics already beat those two jokes by far, and yes, retention can improve, but the way to do it is to keep shipping on Hive.
I’m not even going to waste my time complaining on the missing parts of a well made proposal, or how bad some of those ideas are, because the core idea is riddiculous.
You should know better, really.
To do that, Azircon's KE ratio is doing good.
And a cherry on top is Livinguktawain's vision of
apis.hiveproject.She motivated alot of people to not delegate more than 30% of their hp to projects. Imagine hive getting more and more decentralised one step at a time. People not dumping their stake and people not handing over all their stake for some benefits. I see them as biggest changes of how I see hive. Instead of getting one lucky ocd upvote, it can be many people with combined vote of exceeding ocd upvote (ocd is example to show decentralised stake only. The point is, if people r holding their stake too, it's valuable as much as curation projects r. We need more manual clicks controlling trending.)
Just wanted to drop my2cents. Everyone knows about KE ratio by Azircon but have u seen Livinguktawain's efforts? (Trying to get your feedback)
I talked to many Brazilians who got interested to keeping 70% of their stake to themselves. People r doing maths to find their 30/70 spit. It's the most wonderful thing I witnessed among recent projects.
Actually I saw her presentation at Hive Creator Days in Graz :-)
Yeah, I'm not a fan of HP delegations, having Hive Power in own hands is cool and adding gamification to that is a good way to go.
The core of it is a multi poster so if and existing user doesn't see value in Blurt or Steem they don't have to connect to those chains.
No one is going to make you play a game of Twister with an arch rival who is posting on the Steem blockchain.
Someone could continue to use HIVE and not know any of this is there. It would be like someone posting on Ecency but not knowing PeakD exist and not knowing about the Hive Engine.
For new people getting onboarded they could very easily never of heard of HIVE, Blurt, or STEEM and it wouldn't be until they get deeper in the weeds they realize what is under the hood.
I think everyone would agree that the pricing for HIVE is sitting on the floor. There are a lot of other long standing projects sitting on the floor as well and we don't really know how much upside there will be.
If we don't onboard new users who are sloshing money around on Solana, SUI, Avalanche .....etc the core of HIVE will continue to become smaller and smaller. The inner circle will become more fractured. Then it becomes who's first out the door. Everyone is eye balling guys powering down and no one new is really showing up to develop here or invest here.
Such massive action needs to be taken from all directions but people are scared to even put in a proposal or even comment on a lot of this. Most that know it doesn't feel right here will quietly go out the back door.
Anything involving Steem will not get funding on Hive x)
There is a lot of fighting back and forth. A very toxic situation.
This can't work for two very simple reasons. One, the Steem protocol is irreversibly compromised. This makes it impossible to use, trust, validate, or interact with. Two, Blurt is a private project for blogging using an older technology and unsuitable. This proposal is similar to asking "Can we integrate a brand new Ford truck with a car we found at the scrap yard and a shopping cart?" It would look something like this:
Source:
This idea would only work if you use Hive + another real blockchain.
The picture is hilarious but I think you are misunderstanding. That part of it is mainly a multi poster so nothing really changes with HIVE, Blurt, or STEEM. Someone could hang out on HIVE and post through Hive.blog and nothing would change for them.
Hive has no business promoting compromised tech or people's pet projects. This is what everyone here is trying to say.
Hive can partner with others like it, who are equal to itself, where the quality of the tech stack, roadmap, vision, and the integrity of the blockchains align. Take WAX for example where multiple cross-chain approaches already exist at this time. Steem and Blurt are not suitable. One is broken and the other is a toy.
Could you remind me what you are referring to? I remember J.Sun and ninja stake, but was there also something at the 'protocol' itself?
Steemit is a security risk and we do not support it being used in any way. The protocol its based on was compromised in an attack called a "51% attack".Steemit was compromised on March 2, 2020, when a hostile takeover occurred. This event was triggered after Justin Sun, the founder of Tron, acquired Steemit Inc. and used a large amount of STEEM tokens from the Steemit platform to influence governance. This led to a hard fork and the creation of a new blockchain called Hive, formed by the Steemit community as a decentralized alternative.https://storage.courtlistener.com/recap/gov.uscourts.vawd.119172/gov.uscourts.vawd.119172.120.0.pdf
Order Regarding Settlement and Disbursement of Interpleader Res, Bittrex, Inc. hereby notifies the Court and the Parties that Bittrex has disbursed the disputed funds consisting of 8,752,313.006 Steem and 294.207 SBD to Plaintiffs in the manner directed by Plaintiffs.cc: @brianphobos @ookamisuuhaisha
I see the document, I read it, but sorry, I do not understand who the plaintiffs mentioned there were. I vaguely remember Bittrex had received some large amount of STEEM and has 'frozen' it. Was that this ninja-mined stake that Justin claimed to have bought? Who are the people who received it in the end? Does it mean that JS received it in the end, or not?
There are two separate things here...FIRST... Justin Sun's influence in the crypto industry led to his successfully having some Steemians' funds frozen on exchanges. I don't think it was only Bittrex, but other exchanges as well. I don't think all the frozen funds were returned to the rightful owners, either. Although I was on-chain during this time period, I can't remember *exact* names nor *exact* amounts of funds involved, and the details of all has become fuzzy in my brain after five years. If you were to ask TheMarkyMark, GuiltyParties, Pharesim, or some of the other "big players" on the platform, I'm sure they could provide more details than I can.SECOND... When the Steem blockchain went "live" in March 2016, it was designed to be a Delegated Proof of Stake (DPoS) blockchain with __no__ mining (Proof Of Work) involved. However, the blockchain went "live" very quietly with only a few users for quite a while. During that time period, Steemit,Inc. (the company who launched the Steem blockchain) accumulated quite a large amount of STEEM coins in their wallet and thereby had an impressive amount of Steem Power (SP) when the chain was finally announced publically and others joined the chain. That large stash of STEEM and SP is the "ninja mine" or "ninja stake" -- called "ninja" because it happened quietly in a private setting when few people could see it happening.It was the presence of this "nina stake" that gave the Steemit,Inc. corporation a large, controlling share of the Steem blockchain. And that is what made it a lucrative investment for Justin Sun to buy Steemit, Inc. BUT, the "ninja stake" is a completely separate thing than the funds that were stolen/frozen during the March-2020 takeover by Justin Sun.