Dear Michael Saylor, If Bitcoin is Digital Energy, Hive is Social Energy
I was in a Twitter Space with Micheal Saylor last night with over 4,000 other people. The conversation was centered upon the user experience on the internet with respect to social interaction, how cumbersome it is and how Bitcoin can be a solution.
It was emphasized that communication and transmission of information over the internet is becoming more inefficient by the day, especially given the present tools of communication we have, based on the social mediums we have become accustomed to.
Micheal Saylor explained how difficult it was for him to sift through spams daily in his Twitter inbox for relevant messages due to the infestation of bots, spammers, scammers, or phishers and trolls drowning relevant messages with their spam.
This occurrence might not be a problem for the regular Joe but it is a bone in the neck of high profile accounts. Micheal Saylor iterated that the internet is infested as such because there is no penalty for such behaviors.
In the attempt to make internet access free for all, the window of opportunity for spammers and scammers is wide open, making the internet a strenuous experience for a lot of people.
So Micheal Saylor suggested a solution, he claimed that Bitcoin is the solution to the internet, that by implementing Bitcoin within social mediums, bots, spammers, phishers and the likes will have a more difficult time operating.
For example, Twitter could implement Bitcoin by requiring every user to stake some amount of sats in their account, through this, Twitter will give these users a verification sign and access to various applications within the platform.
For example, to reply a Micheal Saylor tweet or to send Micheal Saylor a message, you need to have some amount of Sats staked in your account.
Also, if a user breaches the terms of agreement, their sats can be deducted as penalty. This was the ultimate solution procured by Micheal Saylor.
After listening for a couple more hours, I couldnât help but think about the over 4000 attendees who have no knowledge of Hive including Saylor himself. It is no doubt that Hive is way ahead of its time, Hive has solved this problem that seems to plague the internet so much and only so little amount of people know this.
When it comes to communication and transmitting of information, every account requires staked Hive which gives resource credits that allows transactions to be made. A bot net will be limited to making transactions as all bot account will require some amount of staked hive, by this, it will be expensive and counter productive to run a bot net of spam accounts on Hive.
Micheal Saylor also raised the issue of name squatters and identity thieves, and how many people have fallen into scams based on these issues.
This is a problem that is already solved on Hive, through Hives reputation system, every Hive account has reputation visibly attached to them, a âMicheal Saylorâ account will remain a Micheal Saylor account on the Blockchain forever with a continuously growing reputation that will be difficult and impossible for another account to replicate.
Whether or not the real Micheal Saylor spells out his name with msaylor or micsaylor, as soon as the community identifies him and recognizes him as such, his reputation begins to grow and itâll be impossible to use his identity in the way that itâs being used on Twitter and other Web 2.0 sites for scams and stuff.
Micheal Saylor is a figure people look up to in the world of investments and cryptocurrency, but maximalism is like a poison, it intoxicates and blindfolds people, while it might be true that implementing Bitcoin into our current social mediums might improve our overall experience, such system is already being perfected on Hive, battle tested and forging ahead.
If Bitcoin is the worlds digital energy, then Hive is the worlds Social energy, the one true social protocol the world needs, it has no VCâs nor LPâs it is not controlled by a body or a central authority, it is truly owned by the community and as such is best fit for the future of social applications.
On the other hand, if Jack Dorseyâs project which aims to create a decentralized Twitter eventually comes to fruition, implementing the Bitcoin solution will sure be one way to eliminate a lot of problems plaguing our social experiences on the internet today.
Plus it means a huge use case for Bitcoins as there are millions of people whoâll be willing to stake Sats so that they can have access to interact with high profile accounts.
But we have no idea when or if the project will be completed, plus it will come with its own many issues so expecting something perfect will be far fetched. Ultimately, Starting such endeavor from scratch is like taking us 4 years back in time, Iâll rather stick with the devil I know, that is working and that can be improved upon.
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