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RE: ¿The Chicken & The Egg? "A Hive's version cautionary tale"

in #hive2 months ago

Another thing you might consider is that Hive is governed by stake weight. The top stakeholders determine who the witnesses are. Hive tokens are each the right to cast one vote for 30 witnesses. So, if George Soros decides that the sudden massive growth in Hive users makes it an attractive investment, he can start acquiring Hive tokens and become one of the whales pretty quickly. If he then does what Sun Yuchen did and buy a couple accounts of top 20 stakeholders, that stake can be used to determine who the witnesses are and what the software says is possible, just like Sun Yuchen did when he took over Steem.

So, growth of the userbase makes Hive a more attractive investment to people that have massive pools of capital sitting around looking for good investments, like Warren Buffet is today, because stocks are too overpriced to be good investments. If such investor got enough stake together to shake up the witness order and put in the right forks, the current oligarchs that extract the majority of the $M's they are getting from the rewards pool today would be cut off from that income, and the investor would eat their lunch. This is the primary reason the opinion flags have flown to prevent actual high quality content from being produced on Hive, and has prevented Hive from experiencing such growth in the userbase, IMHO.

Thanks!