Is Your Hive-Engine Project Really Transparent ?

in #leofinance2 months ago

Hello @spinvest readers,

Today's post is written by @metzli.

Sometime in the past month, I went into the spinvest discord to ask what I thought was a great question:

"When will we run out of spinvest tokens to use as payouts for dividends?"

The team basically rolled their eyes at me.

I was ready to be up in arms. I am a HODLer of the token, I am a once-per-week writer for the blog, I shill SPI from the mountaintops, I used to give away SPI tokens to help spread the word, I deserve to know.

And I am right.

But they are right too -

I don't deserve to find out because I go to a discord channel and demand the information.

I simply am able to know because I go to the blog and read the posts and watch the videos

Just a couple of days before, there had been an update that covered my question specifically, and because I didn't watch the video, I didn't have the answer.

Which is about a year, in case you are wondering. @spinvest can pay out SPI in dividends for about another year.

Transparency, according to the google dictionary means distinctly seen or easy to perceive.

Screenshot 20201229 at 12.07.38 AM.png

Nowhere in the definition does it say: "information relayed on demand."

Yes, windows are transparent, but, if you are not looking at the window, you cannot expect to see what is on the other side of it.

Also, windows are transparent, but, just because you can see through a window does not guarantee that you will understand what you see.

This is why transparency in the cryptoshere is relative

For example, @spinvest is transparent with our process, our hodlings, our payouts, and our roadmap.

However if you don't understand the basics of finance and crypto, you will not understand the basics of our SPI project.

Furthermore, it doesn't matter how much you understand about crypto and how much information your team gives you. If you don't take the time to digest the information, you will be unavailable to understand or know what is going on.

In order for a project to be transparent, you have to be willing to educate yourself on the basics of the project AND you must do the work, and read/watch the material presented.

Many of Hive projects aim to be transparent, but their windows get foggy too fast with too many directions, too many distractions, too many timelines, too many ideas, and too much anonymity.

Other HIVE projects aim to be transparent, but the ins and out of how the program works are too difficult to understand for the average user.

Still, others aim to be transparent, but have a hard time organizing themselves, and it makes the information difficult to find.

Projects like @spinvest do an amazing job of letting us know what is going on with our funds, but you have to be willing to take a look in order to be able to see it.

How Transparent is Your Project .jpg

So, next time you are looking at a HIVE based project, ask yourself: What level of transparency does this team have?

How much basic knowledge do you need before you can understand?

How easy is it to find the information you are looking for?

How many people are there who can explain the ins and outs to you?

How often is the information being updated?

Which hive engine project is best at being transparent, and how much basic knowledge of crypto and finances must you know to understand it?

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There might have a good reason why SPI are so difficult to get ;)

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I only know you guys and the LBI token. It’s a good question to ask, there is nothing more valuable than confidence, and the best thing to create confidence is transparency.

I always look for a whitepaper and a webpage when I discover a new project. If I don’t found enough information about the project, then I'm 100% sure I forget about it.

The post and videos are one of the reasons I have some SPI, and LBI. The information is there and I am still in a learning process about crypto and frankly about finance investing in general. I understand a little and am learning a little more with the teams postings, so I do appreciate all the post even if I may not mention it.

Nice read. It's hard to keep up with all the information ( in these days of information overload ), even if you're closely attached to a project. Transparency sure is a huge plus, it builds trust.

I also very much prefer transparant windows over closed curtains. It makes for an interesting view.

Good to know about the one year SPI dividends. A year is a lot in crypto ( time ) and 2021 is gonna be a hell of a heavenly ride, so let's fasten our seatbelts and enjoy the journey whenever we can :<)

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Yes i agree with this post. I think however i prefer projects like Bitcoin MYK as far as transparency. For example Bitcoin MYK simply inherits the bitcoin ledger. So if you hold bitcoin you can just claim for free over on waves or do a wallet signature to prove you own the btc. Simply comparing the coins you hold to the ones present on the bitcoin myk ledger would simply be verifiable.

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