In my yesterday blog, I said Hive Beginner Tips did help me. So I decide to educate myself and share with you what I have learned from today.
To start, I will dissect Hive whitepaper. My version of Hive whitepaper is dated on Sept. 28, 2020. It is surprised short, only 9 pages. Today I will explain you the Resource Credits (RC).
Hive claims itself as a fee-less system since no transaction fee, but using RC. Every transaction (asset transfer, blog, comment, reply and etc.) will only consume RC, not HIVE, HP or HBD. When you used it up, RC will be freely recharged at a rate of 20% per day. Sounds great, right?
However, here is the trick part. the amount of RC is related to the amount of HP attached to a given account. HP is the money frozen in the system. It will take you 13 weeks to get back to the equal amount of HIVE, which you can trade and sell. The RC setup is a bit of similar to some type of free banking account, which you have to keep a certain amount of cash in the account. It may call it free, but I won't since there is a certain hidden cost associated with this type of money locking. I believe that is one of main reasons few people take care of answering the question in this society. Partially, it is still a money talk.
Nevertheless, even with 0 HP, the system allows you to post 2 textual blogs. Not bad.
RC does lower the entry bar, prevent the scam and keep long-term commitment. It also has an issue: the deep pocket will have loud voice and the poor guy is at the weak situation. In this system if the HP poor wants to challenge the HP rich, they are better off doing face to face (I prefer to this way than just behind the computer.). Otherwise the poor have no chance to win.
However, Hive is still a very interesting ecosystem. I want to do a test. In this democratic capital-social hybrid society, I will invest $0, but try to do one blog a day. I will chronicle how long to take me to get 1 HIVE , 1 Vote Power and create my own community. Today I have 0 HIVE, 0 Vote power and no any my own community. It will be a very excited research to see how a no power, no influence, no associated community individual gets his bread and right.
Last, as I promised in my tips I would tell newbie how, here it is. You move your mouse over your profile icon on the top right corner and click Profile. You will enter Profile page, on the top right you will find an information icon , "i" in the black circle. Move your mouse on that icon, RC value will show up.