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RE: Is the 13 Weeks Powerdown doing more harm than good for active & loyal HIVE stakeholders?

in Hive Improvement3 years ago

The point of a lockup period in blockchain that uses staking as a security mechanism is to punish stakers that engage with the blockchain in non-value adding ways. A shorter lockup period is just conceding that you believe the coin has no intrinsic value and you would rather have as a pump-and-dump instrument that people can speculate on. It decreases the security of the coin so you can sell it faster.

The fact that everyone agrees with it in the comments disappoints me. It shows a clear lack of what the plebs call "diamond hands" and a fundamental misunderstanding of the purpose of cryptocurrencies. The perceived loss is well deserved. If you want a better cryptocurrency, earn it, build it. Needing speculators is a fancy way of saying "I don't believe in this cryptocurrency outside of it's ability to make me money by selling my bags to some schmuck".

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The main point within this post was that loyal/active Hivers are usually powering up their HIVE, which renders them impossible to take advantage of any trading opportunity. Even curation rewards are 100% staked.

The pump to 10k sats, in the beginning, wasn't rational, rather artificial. If loyal Hivers were able to take advantage of it, profits would have gone a long, long way.