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RE: We are beggining to be wasteful with the HIVE fund! STOP NOW

in #hive4 years ago

None that are fully hashed out. But some of them revolve around SMT in some way. Moving the inflation generated tokens away from the main layer and to a second layer.

What do "main layer" and "a second layer mean" here?

Another idea was to have the reward pool able to receive transfers and moving the inflation into the DHF. Then users could make proposals to increased the reward pool funding to adjust the inflation percentage.

Moving the inflation into the DHF? All of it?

Other ideas exist I am not thinking of I am sure but nothing has really been proposed along with a real reasoning, or testing, of if it will work.

So some people have been throwing around ideas. I really hope all of those ideas will be thoroughly discussed in public before drafting proposals ready for implementation.

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So some people have been throwing around ideas. I really hope all of those ideas will be thoroughly discussed in public before drafting proposals ready for implementation.

Why are you trying to quiz me on all the possible ideas that may come up to change the reward system?

I said I think the reward system is being abused. You asked me what I specifically am doing to fix it. I told you a few ideas that have been discussed and nothing is in the works right now.

You tell me you hope the ideas get discussed before stuff is in the works.

Whats your point here?


Edit: just noticed you aren't even the person that started the thread. Makes more sense now because I figured you were quizzing me based on the previous response I made.

  1. Main layer referred to the main token, HIVE/HBD. Second layer would be an SMT based token or something that is not directly HIVE/HBD.
  2. One of the ideas discussed was all inflation minus witness pay to ensure witnesses are incentivized always to run the chain.

Again, these are all just brainstorm ideas without research about their potential effect. However, SMT is currently in the works with testing and other things, like RC delegation, are being worked on and tested as well. The system will hopefully continue to improve. I think the reward system can be fixed, just not quite sure how just yet.

Edit: just noticed you aren't even the person that started the thread. Makes more sense now because I figured you were quizzing me based on the previous response I made.

Thanks for the answer. I deleted my original answer to that comment so as to answer yours properly.

Main layer referred to the main token, HIVE/HBD. Second layer would be an SMT based token or something that is not directly HIVE/HBD.

One of the ideas discussed was all inflation minus witness pay to ensure witnesses are incentivized always to run the chain.

Rewarding witnesses is obviously absolutely necessary. That, by the way, is the reason why a decentralized blockchain without a cryptocurrency cannot exist.

Again, these are all just brainstorm ideas without research about their potential effect.

I've seen people talk about such ideas before.

However, SMT is currently in the works with testing and other things, like RC delegation, are being worked on and tested as well.

That's great to hear! RC delegation is an important feature going forward for stakeholders who want to earn by delegating RCs to gaming apps.

The system will hopefully continue to improve. I think the reward system can be fixed, just not quite sure how just yet.

It's much better than it used to be before last August but not perfect.

Something to remember about moving author and curation rewards to an SMT is the necessity of getting that SMT listed on an exchange for it to have any monetary value. Nearly the only thing giving even HIVE monetary value for now is the fact that it's a speculative vehicle. SE tokens are almost completely worthless because their only utility is attention economy on a tiny platform. Frankly speaking, if content rewards in HIVE/HBD/Vests were done away with in the next hard fork, I'd probably quit posting like many others. Maybe I'd try my luck on larger platforms where orders of magnitude more people can be reached. If sufficiently many Hive users did the same, the number of people willing to try new gaming apps etc. like Splinterlands that do not rely on the reward pool on Hive would be a lot smaller. There'd be less chance of any of them catching on.

SE tokens are almost completely worthless because their only utility is attention economy on a tiny platform.

Very true and there would definitely need to be a mechanism to trade the SMT tokens for value. Hopefully when SMT is ready someone rushes out an exchange system for them.

Frankly speaking, if content rewards in HIVE/HBD/Vests were done away with in the next hard fork, I'd probably quit posting like many others.

This is an important consideration for anyone involved in brainstorms about chain improvements. Author rewards will likely never go away entirely. But the form they exist in could potentially change. I will always try to fight for authors and curators to receive incentives to be present on Hive and to get others to join.

We really need a referral system built into the chain that couldn't easily be abused. Decentralization makes things very hard to prevent abuse from multi-accounts or other simple hacker techniques.

It's great that you brought up the referral system idea!

I'll re-iterate what I proposed not so long ago. I think it would be useful to run an initiative with rewards given for onboarding someone who makes an introductory post with their picture on it holding a piece of paper with the date, account name and other information written on it and that person stating that they were onboarded by the person to be rewarded. Additional rewards for reports proving that those same people are still posting after X months and that they have powered up some moderate amount of HIVE.

I proposed a referral system 2 years ago on steem.

Where the new user pays proportion of their uvpotes to the person who referred them (to a specific value, over a time period of 6 months if I remember correctly).
It never went anywhere, but I'll just point it out now.
(Who knows? I might be able to claim 30K in back pay compensation, for the work I put in!)