Posts

avatar of @practicalthought
25
@practicalthought
·
0 views
·
3 min read

Please forgive and indulge my ignorant question(s) here. I still don't quite grasp this and the more I reread the first post the more I became aware of my ignorance. The questions I have come from a feeling of unease with your proposition, so I will begin with my limited take on this and hopefully it will shed light to you on my disconnect.

It seems to me part of the problem with Hive (and Steem before that) is the majority of users choose not to invest for a plethora of reasons. Either they view the chain as income they need, don't have much money to invest or are wary of the steps involved in investing that is wrought with a lot of KYC bullshit coupled with shady shit the exchanges pull.

Whatever the reason, the majority of investing from outside is taking place by the minority of people. I somehow was able to muster up courage 3-4 times to make meager investments that accounts currently for about 55% of my stake. And while I am quickly approaching Dolphin status, I'm under no illusion that it's any real amount compared to many here like yourself and higher. While I do plan on investing a little more over time (once I figure out a way that is least frightening), the fact remains I want my holdings to grow here in Hive. I point all this out, because according to the Hive page for my account, it is ranking me at around 2327. I'm assuming that means that there are only 2326 accounts with more staked power than myself.

That number betrays the fact I've noticed since joining, and that's most aren't investing anything other than time into this project, which is why demand is such that we aren't where we should be as a chain.

Sorry this is taking so long, trying to frame this correctly by explaining my thoughts on burning. Now that I have the foundation of my understanding, will get to the not understanding.

It seems to me that the majority of people would not want to burn their assets for a more speculatory asset such as you propose. It would seem that if it caught on, most if not all participants would be those who have extraordinary means already and are the current holders responsible for the primary chain (Hive) having any real monetary valuation at all. Wouldn't the success/burden of such a chain be derived solely from the participation of these select few holders of majority stake, and without their investment in the idea be doomed to failure? I ask, because my focus since joining has been to scrape what little I can from my piss poor economic status into this main chain, intent on growing it best I can for myself and those I appreciate as my self designated community. The idea of destroying/slowing my growth here for a POB idea doesn't make sense to me.

I still find myself lost here despite typing so much. I guess I'm wondering why someone who has invested a little like myself (and the majority who have actually reached into their pocket for small amounts they could afford) to the many who never have put a dime in nor plan to would want to burn their growth. It would seem detrimental for those of us of small means who have cared enough to try to contribute financially to the chain, and more so for those who only view the chain as something to take from.

Appreciate any insight you can give. I really want to understand why the majority would want this to be a thing (as opposed to this being a dynamic that the responsibility for once again falls onto the larger stakeholders). I read your conversation with FTG in your last thread, and the passion both of you have for this has kept me from dismissing it outright as my limited understanding wants me to do. I hold both of you in high regard so really wish to understand if possible.