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Posts will be demonetized from the outset to prevent anyone who FRAUDULENTLY abuses the system by improperly using downvotes with coordinated actions (DOWNVOTE BOMBING) from damaging users' intellectual property, compromising their reputation, and simultaneously stealing revenue from creators' posts and voters (curators). This is to prevent free and unlimited contributions from the creative and curated work of other ACTIVE users.
Anyone wishing to reward INDEPENDENT content can do so through the gift option or any other method that supports independent dissemination, such as delegating Ecency points or other means, which are always welcome.
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You are also invited to report this platform to the exchanges hosting Hive's cryptocurrencies, attaching details and screenshots of the illegal acts, possibly even with a previously filed complaint, if available.
An increasing number of users are reporting these despicable acts within Hive, often from accounts and multiple accounts used by numerous Hive WITNESSES.
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[ENG]
Today, we will examine the hidden issues behind the Hive platform. While it is presented as a decentralized and meritocratic project, there are numerous signs indicating market manipulation, abuse of power, and censorship practices. Whether you're a Hive user or simply a cryptocurrency enthusiast, this article will help you understand the dynamics that might affect your experience on the platform. Pay attention, because what youโll discover might surprise you.๐
In the world of cryptocurrencies, decentralized platforms like Hive offer a promising vision of freedom and transparency. However, like in any digital ecosystem, there are emerging issues related to potential abuses of power, manipulation, and financial fraud. This article will explore how Hive's voting system can be exploited to manipulate the market, abusing the vote system and the flow of funds from influential accounts, as well as the influence of witnesses and the use of multiaccounts to manipulate the positions in the witness rankings. It will also address the damage caused to curators, who vote on content without knowing that their votes are annulled, thus reducing transparency and fairness on the platform.
By analyzing financial flows, power delegations, suspicious transactions, and the influence of witnesses, weโll see how some users can influence the visibility and remuneration of content, undermining the integrity of the platform.
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How Does Hiveโs Voting System Work?
Hive is a blockchain-based platform that, in addition to serving as a content publishing system, also functions as an ecosystem for voting. Users earn Hive Power (HP), which represents their voting power on the platform. The more HP a user has, the more influence they have over content: their vote determines whether a post will earn rewards in Hive or Hive-backed Dollars (HBD).
However, this system, although designed to ensure fair distribution of earnings, can be abused by those who hold a large amount of HP. Downvotes, or negative votes, are one of the most powerful tools to reduce the visibility of content and its earnings.
System Manipulation: Coordinated Downvotes
The biggest abuse of Hiveโs voting system occurs when groups of users with large amounts of HP come together to manipulate votes. This phenomenon, known as downvote bombing, involves a series of negative votes concentrated on a single piece of content, drastically reducing its visibility and rewards.
In particular, influential accounts can coordinate their actions to penalize content from other users. When negative votes are executed strategically, the effect is to damage the authorโs reputation and reduce their earnings. This behavior undermines the integrity of the platform, where visibility should be determined by the quality of content, not by the voting power of a few users.
The Influence of Witnesses and Multiaccounts: Manipulating the Rankings
Another critical aspect that undermines fairness on Hive is the influence of witnesses. Witnesses are users who vote to determine who will have the right to validate blocks in the Hive blockchain, granting them a privileged position. However, many witnesses, through the use of multiaccounts, manipulate content voting, influencing the visibility of posts and rewards.
Many witnesses use their multiaccounts to vote for themselves, but also to vote for the content of other witnesses in a coordinated manner. This creates a sort of "closed system" where only those who are part of a network of multiaccounts and self-votes can maintain control over the witness ranking positions.
The practice of self-voting is also frequent among witnesses, who help each other by voting for each other's content, artificially amplifying the visibility of their own posts. As a result, it is extremely difficult for new users or content creators to emerge and surpass the witnesses already at the top of the rankings, as they benefit from an advantage in terms of votes and HP delegations.
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๐ฅUnknowing Curators: Annulled Votes and Indirect Damage๐ฅ
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Another serious issue is the damage suffered by curators. Curators are those users who vote positively on other users' content, helping to reward quality content. However, many curators, without knowing it, are harmed by the use of multiaccounts by other users. When these multiaccounts vote on content, they cancel out the votes of curators, preventing them from receiving the funds they deserve.
In practice, curators vote on content thinking they are rewarding valid content, but their votes are nullified by multiaccounts, creating a situation where only a few users benefit from the earnings. This manipulation not only harms content creators but also curators acting in good faith, reducing transparency and fairness within the system.
Centralization of Power: Delegations and Market Manipulation
Another concerning aspect is the centralization of power in the hands of a few users. Accounts with large amounts of HP can delegate their voting power to others, significantly influencing the visibility of content across the platform. This delegation system can be exploited to manipulate the market and direct funds toward specific accounts.
By tracking on-chain transactions, it is possible to follow the movements of HIVE and HBD between influential accounts and external wallets, trying to understand whether the funds are being manipulated or redistributed irregularly. This is particularly important to prevent practices such as money laundering or manipulation of funds for personal purposes.
The Outflow of Funds: Where Do the Funds Go?
One of the main concerns is the outflow of funds from key accounts. These accounts can move money to private wallets or direct the funds to external exchanges, creating a closed circuit in which only a few accounts control a significant portion of the value on the platform.
Suspicious transactions and money flows between influential accounts may indicate that funds are being manipulated or redistributed irregularly. If funds are moved to external wallets and then traded on the market, it could constitute financial fraud. These funds, often accumulated through multiaccounts and vote manipulation, could end up in the hands of a few, controlling a manipulated internal market.
Censorship and Manipulation: The Telegram Group and Their Self-Interest
Many users have reported suspicious behaviors within the Telegram groups managed by Hive witnesses. These groups, while claiming to have no ties to the Hive project, are driven by a network of multiaccounts that seek to control the ecosystem. Users who raise questions about multiaccounts, vote manipulation, or other issues are quickly blocked and silenced.
Many members of these Telegram groups have reported being scammed, possibly by external sites or people involved directly in the platform. These signals make us reflect on how deeply rooted manipulation is within Hive. Censorship, in fact, has been a frequent phenomenon since the beginning, with many users reporting over the years that their reputations were destroyed, their posts hidden, or they suffered penalties without being notified. The effect of this mechanism is devastating for the fairness of the system: it is a real censorship disguised as a "fair voting system."
Unanswered Questions: What Are They Hiding?
Until someone sheds light on these methods, the manipulators will continue to thrive undisturbed. Once the coins created artificially through these practices exit the system, they will likely be exchanged for other cryptocurrencies, poisoning the market and compromising financial stability.
The questions remain open: Why have exchanges never performed checks on these funds? Why has no one ever conducted an in-depth investigation into these fraudulent mechanisms?
It is crucial that the Hive community stays united and active in protecting the transparency and integrity of the platform. If you found value in this article, subscribe to the channel and follow our updates. Donโt turn your back, because if we donโt stay alert, the system will be manipulated and the market will suffer. Our community must take action to stop these harmful practices and protect the fairness of the project.
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