I'll have been here 4 years, shortly after your Three. However, I have pretty much come to the same conclusions that you have. It used to be that steem/hive would ebb and flow with the rest of the market, oh sure, there was a bit of slippage but now it is accelerating. I remember Steem (pre-SUN) was top 30 or higher. THEN all the social justice worriers started in... We had a good solid core group of whales and witnesses and then the cry babies started. Witnesses started turning over, dropping in the ranks, dropping out. Whales started divesting. CHANGE WAS COMING!!! Prices Dropping, rank slipping. Maybe it's a coincidence. Then Justin Sun rolls in, to "save steem" or something. HF 21. Ninja stake reclaimed, things are looking good, for a short time. Blame DEFI, Blame JS, BLAME CANADA! (hat-tip @banjo) but we fell from the top 100. Still dropping. Latest BTC rally? Not for HIVE! We got some great witnesses with some real turds. I mean some real stinkers.
I urge everyone to really scrutinize your witness votes, I have been thinking long and hard. But we also need some great onboarding and this is not happening. Maybe our rewards model is too generous to the parasitic drag accounts that only use their meager earnings to cash out?? I do not blame the 3rd world folks for trying to better themselves with crypto, but it seems like a majority of smaller accounts are cashing out.
LEO is UNDY'S LAST STAND... There are very few good tokens on Hive Engine worth an actual investment. At this time I think I could count them all on both hands. Perhaps a few more emerging ones, don't get your panties in a knot, I have a limited exposure to hive engine projects. But the highlights seem to be few and far between. I only know of LEO because of my good friends @spinvest and @jk6276 and Spinvest is a premier token. But it is not deflationary nor stake-able. Great HODL, but it is different. That is what Hive Engine needs, more tokens with a DIFFERENT APPROACH. LEO fills the bill, very nicely. The only thing I'd like to see more of is LEO going across more platforms and perhaps branching out with other liquidity pools and more exchanges. I have heard rumors about other things than the wLEO on Uni-Swap. Plus, that is likely to make a return, anyway.
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Thanks for sharing your view. I don't blame the third world users that cash out, for dragging Hive down, as I do with the circle of whales that decides anything in here, but everything works like two-three years ago. They're probably minding their own pockets, and nothing else, much more than those poor ones cashing their tiny rewards. Not to mention DAO is a joke.
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You are 1000% correct. the only thing I might add is that "3rd world users" would profit MORE and help the system MORE if they became "invested" but that battle is extremely difficult when you must scrape by every day barely surviving.
As far as being a witness goes, it's a non-profit venture at this time. That coming from one of my witness friends who is actually worth a damn and a solid citizen.
I have lived of Hive as well by selling tokens and I totally get that. I know it's not a workplace, it's first and foremost a passion, and in my case the best spent time online, but when the belly's empty and the bills are coming you know you can spend some of that earned tokens. I mean it's not that they have a limited supply and you can't earn them anymore in a few years or so. The problem is that there aren't new large investors incentivized to put money into Hive and compensate the third worlders and that's due to poor marketing. As an investor having the staking and curating earning tool at hand you can really get nice revenues, not at the current price, but the opportunity is there.
I had such a "caught in the middle" feeling that once Spinvest basically TRIPLED our stake's value, Well, I cashed out like 99.9% of mine. I was top hodl for the first year + and then when I cashed it out, plus more hive and H-E tokens, well, I bought a pocket full of Gold ;)
You see... everyone has his/her strategy, needs, visions and so on. There's no one to be blamed after all, and ultimately it's your own pocket that you care the most.
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I though by powering up EVERYTHING I could help the community the most, but that was a fine balance that most people cannot achieve. I don't think the whales should leave it all powered up just to benefit the community either, in reality I guess it just took me too long to figure out obvious that you just stated. I powered up everything for over 3 years then basically said fook-it.
Do what you feel, don't follow herds and trends. If it's a good decision it's yours, if a failure, yours as well.
Not to mention, I threw a bunch at LEO.
Really jaded on Hive but it seems LEO has lots of headroom!
That might be a good strategy. I've noticed recently that LEO is highly vlatile and that makes me think it would appreciate even more in price.