RE: Can The HIVE Community Be The Ultimate Crypto Influencer?
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You bring up a good point on influencers just earning rewards and then leaving. I wish that once you convert to HP there was no way to power down. This would allow users to still earn their liquid rewards but would force their hands to be supportive of the underlying chain gaining value since they would have an economic asset that's value is locked in.
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Authoritarian, much? lol
I don't know if I'd say authoritarian because you'd still have full control of the account with the power nor am I saying that we must do this. That would be up to stakeholders. I'm just advocating for the idea a potential software change to reflect a different economic scenario where users actually lock in stake versus powering up.
I don't know if I'd say authoritarian because you'd still have full control of the account...
reconcile?
How does this square with 'your keys, your crypto'?
How is 'forcing' not authoritarian in it's nature?
Forcing their hands to be supportive...Is not authoritarian? How so?
Are you saying that by coding this is 'locked in asset', it will somehow make it less of an oligarchical a structure than it is, already?
I don't see it..
The account would still be in the owner of the private key's full possession. At any time the account owner would still have the option to use the stake by delegating it's rights or using it within the network. This change would just change the function of Hive Power from a convertible asset to a fixed asset.
My usage of force in my initial statement was a poor choice of words from a guy who was far past his bedtime. I think encourage would have been a better option as it would still be possible to sell the account to leave the ecosystem thus you'd be unable to force anyone to do anything. Regardless I still hold that this change would encourage users to seek the betterment of the network as their holdings in the network wouldn't be as easily convertible to a liquid asset.
As for the oligarchy I think it would cause improvement there as well. Now we have a system where some users earn rewards and then sell everything off to convert to other assets like BTC or fiat allowing large pocket individuals to claim control of the network. If stake in the network was non-convertible that would ensure less would be available for the non-Hive asset whales to buy off the market increasing their control on the network. Instead users seeking to control the network would need to likely lease control from the users who hold stake versus buying the network. This should democratize Hive by spreading the control across a large number of accounts as rewards continue to move away from whale accounts into smaller accounts.
I'd finally make the argument that it's fairly hard to be authoritarian with cryptocurrency. Since this is just code we are discussing you could at any time fork Hive to create another token that didn't follow the consensus of the masses and would instead follow a differing set of rules. Even if my idea is crazy and witnesses would never adopt I can always fork and create a new token so I can not claim them to be authoritarian with my online presence as I always have the choice of participation.