Admittedly, HF28 snuck up on me somehow. For me, it was just...here. At face value, I like the changes: non-decaying vote value, splitting posting and active key roles (safety), and decreased inflation. Yesterday, I wrote about inflation and emissions, but it seems I might be totally wrong.
Digging in a bit, it appears there actually might be no change at all in inflation other than changing the metric.
The inflation rate of Hive changed because the formula changed. Namely, the stash of HBD held in the Hive treasury is no longer factored into the formula. This removes a lot of money and makes the inflation rate appear lower. However...
The actual emission of HIVE is unchanged after HF28. This is what I was evidently wrong about. So, while the inflation rate has "declined", ahem, we're still spewing out the same amount of HIVE every day...it just looks lower with a new metric. Combined with the non-decaying voting that HF28 brought in, it almost seems like emissions would actually go up each day. (I'm hoping a time-period emission limit is hard-coded in to disallow an actual increase due to increased upvote percentages.)
This diminished inflation rate sounds like you've been measuring out something in centimeters, but because the number is too high, you just start measuring it in inches so as to get a lower number.
In sum, this "decreased" inflation rate is cosmetic only. Unfortunately, I expect this to have zero impact on HIVE value as I'd previously been hopeful for.
I go by @crrdlx or "CR" for short. See all my links or contact info at https://linktr.ee/crrdlx.
I'm waiting to see the numbers on how many people now stay below 80% vote mana.
It was a lot harder to access the last 50% of one's hp.
It's the same over all, on an ongoing basis, but if the account doesn't get back above 50%, then it's a net loss to the restivus.
I can't pull those numbers, yet, but they will be there when somebody does.
What concerns me too is that non decaying voting could potentially push emissions upward. Not necessarily harmful but something that deserves clarity, especially for us hoping it would translate into price impact.
We were just given quick access to 50% more hp.
That can only result in smaller slices of the pie for the restivus.
It may not play out that way, but watch, when the rugpull comes, you can bet that 50% of the hp will have been drained to zero by the accounts in the know.
Ok, got it.
If it means more efficient use of existing HP then it’s mostly a distribution issue, not more tokens emitted that could impact price.
Maybe it doesn't impact price, but if it impacts distribution negatively, that is negative, imo.
IF the greedy pull out 50% more, albeit only once, why would anybody not just here for what they can extract support that?
I've had to lower my votes in order to not eat up more mana.
Before the fork, I rarely hit 80%, and now I can barely stay above it.
My voting patterns haven't changed, so what gives?
Interesting analysis. I'm still processing everything, as there are many things I'm learning little by little.
Thanks for these details!
Hugs!
So true. This is me, every single day! 😃
Source of chart: http://hivewiki.crrdlx.infinityfreeapp.com/doku.php?id=wiki:inflation-and-emissions
I wonder if such "non-decaying vote" value also applies on #HiveEngine tribes for which author/curator rewards in the form of the tribe token are enabled. 🤯 Let's !HOPE that @borniet who is a Hive Engine Witness operator too can answer well! 🤗 !WEIRD !INDEED !PIZZA