I wrote earlier that I had decided to stake my POB earnings and that I've had a pleasant surprise exploring the community so far. Since then, the price has already more than doubled, and I've been able to spend more time engaging on the site.
Sure, the volume isn't the greatest, so the price should still be taken with a grain of salt. But at the same time, it's very early, and seeing people willing to buying in is more than promising enough at this stage.
It's tempting to start doing some math on where the price could go short term, as HIVE still has more than 1000x greater supply than POB, which has capped supply of 21 million tokens similar to Bitcoin with a halving in inflation every 4 years. However, it is more useful to look at the actual user experience had and whether or not that suggests that more people may want to get active in the platform. After all, growth always happens on the margin, with new people deciding to give a product a try, and then retaining as active users.
So how has it been?
Getting to know new people
This may sound like a bit of a cliche, but the best part of trying out proof of brain is that I've been having fun! With some new motivation to curate, as well as a more digestible "New" tab (for now), it has been interesting to come across new Hive users as well that I've never interacted with before, and who I would have never engaged with if not for this tribe. The same goes for the discussions related to how we can improve the user interface, content discovery and the community-run writing competitions here. I also find it interesting how by looking for creators on proofofbrain.io to curate, I am also distributing HIVE to users who would have otherwise had close to no HIVE payouts on their posts. So goes to show that using a new Tribe can be a great way for new users to get attention!
I've had my critique of proof of brain (the concept, not the tribe) in the past. But one thing I always liked about it is the way in which it gives you the incentive to spend time looking for new people to build relationships with. Admittedly, getting to know people with the primary motivation being the hope of financial rewards in the form of an upvote on a comment, a post or a regular follower is a bit strange and at times a bit toxic. However, after having started off with that motivation one quickly forms connections that are then worth keeping regardless, and one can appreciate the dialogues and exchanges of ideas with or without the rewards (or just allowing them to happen in the background more or less).
This is quite a cool differentiator to the other "social" platforms I'm on outside of Hive, where I've rarely ever come to know new people from outside of my existing social circles. Perhaps it's just me who has been fairly inactive in recent months prior to the bull run, but experiencing this again (which I did sink a lot of time on back in 2017 in particular), has been a fun reminder of what our token model can be good for if used correctly. And I think the scarcity model of POB with the deflation in supply helps enhance that effect, as it feels as if every upvote received is more precious.
Anyhow, I think we can expect the price to continue to go up, as people will likely continue to speculate on this Tribe going places with the momentum that it has. And I also expect the community to produce not only some cool content, but also some lessons in community building and tokenomics that I am sure many other projects can and will learn from in the future.
Brain on!
Fredrik
Glad to have you here mate!
You just talked about my favorite thing here, the connections and new friends. I found some awesome people here and that made me want to go back full in posting and engaging. I think this is one of the perks to be a early adopter, you really get to know who's who.
And I also feel that the people who are engaged with the tribe are really doing a great job in maintaining it interesting and also friendly for all that come with the right frame of mind. I can see the efford from all of them to make POB a great place to be.
Thank you so much for sharing you point of view, is very much appreciated!
Keep posting and keep shining!
You're also doing a great job!
This is one of the cooler experiments on Hive. It brings me back to the early days of HIVE where you can only earn the rewards though posting, commenting and curating content on the platform. The aspect of decreasing supply is interesting as well. 4 Years seems a little long but I'm curious about it. I'd rather see 10% a year reduction or something along the lines of that like how POW mining is always reduced on the next calculation.
I think you're right that there could be better deflation rates technically and economically speaking. However, making it the same as Bitcoin makes it all easier to communicate and installs the powerful message of scarcity and future difficulty of obtaining more. I think that simple fact changes the mindset of people where the effort you make to earn tokens feels more important. So overall I think the decision to make it the same is good.
Curious to see how token distribution will look after a while. Imo proof of brain generally speaking works better when there are lots of people with a significant portion of the stake. Because that means there's a greater correlation between the amount of engagement and number of people voting on your post and the rewards. So you're more incentivised to form mroe relationships and get good reach on your posts.
I thought I were a little late to the POB party but it has just begun. This is the best time to accumulate as many tokens as you can. Tokenomics is definitely interesting and since the supply is low, the chances of the price going up will increase as demand increases. Scarcity works!!!!
The same thing is happening with me, I got to interact with you and many others from the tribe. Earlier I was using only LeoFinance so had a limited circle. Now it's expanding.
You're at the right moment.
I know right! It's so cool to be here with all of you guys. :))
Posted Using LeoFinance Beta
Enjoy it, @Finguru!
Sorry I kind of bought up all the cheap stuff and started promoting POB. I think it really has a lot of value! If we want it to. I think it needs to stand for something, and even at high prices we should stake our liquid rewards, not sell. I feel bad for people who have cashed out so much Hive, because they really were forfeiting their vesting shares. I am hopeful that those of us who are here understand why we shouldn't sell, and that this community will be whatever we make of it.
How many times in the past week have we heard people complain or joke about how they used to give away tens of thousands of DOGE? Or sold them without any thoughts whatsoever?
The story of crypto should have enough such examples by now that people would learn at least something. Imo the best approach is to simply use and stake the products you enjoy and find valuable yourself. Because if you find value in it, others are likely to do o as well. HODL those things.
@fredrikaa those that held those doge coins right from it's early days would be rich right now....that is the advantage of been an early adopter..m
yes, post traumatic FOMo stress, empty nest syndrome, its heer with doge,mm and will come to coins liek steem then hive and then eos and telos. Elon is on the 2015-2018 crypto quest he will land with EOS
heres one o
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f Teslas top older investor youtuber influencer talking with @jesta and @dan
The tribe has come from nowhere and is doing remarkably well. I am just staking and curating and just adding value all round. Had no idea it doubled today so it just goes to show you hold on to what you have as why sell? I enjoy all these various tokens knowing this is still early days and anything can still happen.
Posted Using LeoFinance Beta
I also had no idea it doubled up today, even if I was in POB for a few hours.
I've staked them all also.
Great insightful article.
I trust the POB model and I think it's a good thing we are all here right now, at this point.
Just recently became aware of @Pob and after digging a little deeper was pleasantly surprized by the community as a whole and the amount of interesting content that creators have produced, it is definitely one tribe I will be aiming to give some more attention too. I was also delighted to learn I had earned some POB from my articles, I am only starting to understand the different tokens available, the tribes that they have and what each tribe is about and it is always a good day when you learn of other possible revenue opportunities for those willing to put in the time and effort to do so. The futures will certainly be bright for those that have the @proofofbrain to go get it.
Posted Using LeoFinance Beta
Use Leodex or Hive Engine. You'll make a neat impression on any token that you might be interested in. Welcome to POB!
Will do thanks for the advice and warm welcome
Posted Using LeoFinance Beta
The token and community is very new still. I just think it's a fun experiment to see a token that is 100% distributed, from the very start, through the process of voting.
Definitely it will be interesting to see how well it does over the coming months but going by the first two months I am hopeful that it might be a very worthy experiment indeed
Been staking since the beginning and have noticed a lot of comments coming in from people using the site and built connections as well! It's a very cool community!
Hive has a market cap of like $255 million and POB $250K.
I am not sure how that surpasses in token value.
Posted Using LeoFinance Beta
Party pooper.
I've said that in the article as well that HIVE still had 1000x supply and market cap.
But 1 POB > 1 HIVE was the point, it was much lower only a few days ago. So that means the value per token is higher.
Obviously, that's "easy" when the supply is much lower, but every fun little milestone is worth something. And the meat of this article was less about price and more about the experience from using proofofbrain.io.
Even I might start using it! I just hope nobody notices my lack of brain.
I think by merely using it, you will be showing proof of brain!
Cool! Getting a brain for a participation award sounds like a sweet deal, man!
Lol! It really is one of the deals of the century!
This is awesome! For sure now (if I actually remember to remember) I'll use it next time.
You should! I think it's a fun and interesting experiment to see how the distribution of a POB token will end up when it is distributed entirely through that process starting from the very first tokens
It should be worth more than HIve just based on supply alone. I think people get hung up on the Hive price as a measuring stick for the tribe tokens. I'm not the least bit tempted to sell at one HIve. I'm staking everything. This is not financial advice obviously.
That's true. But I still think it's a fun and noteworthy milestone when you consider that it was trading for 1/10th of its price just a few days ago. This growth rate for a 1-2 months old project is cool.
I'll be staking rewards too. Obviously, this is financial advice and my opinions surely represent both my company and the king of Norway!
lol
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POB project is making history, right now!
um yeah anyoen can make price go up on hiev engine
tell us when volume is not just $1000 a day but millions a day like hive
long way to go and all hive engine projects capped at @leofinance level they showed whats possible
lets see when leo finance has more volume in hive engine than all of hive on bittrex and other markets lol now that will be dope
POB feels like been part of the OG bitcoiners!! Will POB follow the same path than bitcoin?
Posted using Dapplr
Nice to see new tribes capping harder! Hive is the utility token !
@fredrikaa I totally agree with this ...
That is wonderful
we have another great community beside leo
Posted Using LeoFinance Beta
I hope that the price shoots to the moon, but I am not sure how stable it will be in terms of price increase. Hopefully it finds a nice place to settle where people can build the community up.
Posted Using LeoFinance Beta
That is one of the aspects that I like about this type of platforms, to establish a connection with other users showing each one of them their abilities, talents and virtues that they can develop, the rest as you say is secondary because it is something that one enjoys. Although in this process the time becomes shorter.
Posted using Proof of Brain