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RE: Justin Sun made sure that there won't be any Steem proposals approved ever again. What makes you think that he cares about Steem really? - Long live Hive.

in #hive4 years ago

Base-layer communities can now control their currency directly. If at any time a community is being lorded over by a currency that no longer serves them, they will fork to a new rule-set that does serve them.

The problem with this are the community splits. When projects fork like this it fragments network effect and becomes a step back in a lot of ways. However, as long as that community is generating value and consensus serves them the benefit of that should be far greater than choosing to bow to the previous empire.

More and more opt-in communities will pop up. This creates more and more options, competition, and free-market. Eventually a few good projects will have a lot of people on the network, but their will always be others constantly nipping at their heels. With the legacy economy, the way to stomp competition is to impose regulation and burn all the bridges behind you. With crypto, this is not possible. The permissionless open-source flat-architecture does not allow this level of control. We don't have to do anything. We just have to let it happen.