Doing What Is Best For HIVE Has To Be The Priority

Above is an extract from Hive account@dalz's post yesterday.

Thank goodness we have users on HIVE who delve into the stats and Hive account@dalz is one of those particular people. Yesterday he posted a piece that was mind blowing and also scary all at the same time, but we all need to know these things. We care about HIVE and letting people/other users know what is happening is important. Doing what is best for HIVE and not you or someone else benefitting which may or may not have been the case, but HIVE and that must be the priority. Without accountability of where and how the HIVE marketing funds have been used via proof of spend then questions will bound to happen. There has been abuse and we all know it no matter what others are saying as we are not blind.

Here is a link to his post here and I recommend everyone digests the information as this is not a comfortable read. The inflation on HIVE is ridiculously high and the month that just finished being February was the highest month for inflation on HIVE ever.

How many months can we allow this to continue is what I am asking myself as 10 million new HIVE over the next 6 months would take the circulating supply way over 600 million which would be around 50% more HIVE than what we had in 2021 when HIVE reached the ATH of $3.41. The HBD is killing the golden egg with the 15% staking rewards and my mind is saying why have the witnesses not changed their percentage rates? From my understanding we place the trust in the witnesses to look out for the blockchain not only in the blocks being processed, but looking out in general. Surely the alarm bells are ringing as the printing of new coins needs to be rained in on all fronts besides HBD.

I am no developer and do not know what is possible when it comes to code, but is there anyway that the code can be tweaked in order to reduce the printing that is taking place. I get the idea we are decentralised and maybe this goes against the ethos of what the chain stands for but there needs to be some type of intervention sooner than later before this escalates further.

I understand having HIVE at $0.06c has only made the situation worse and escalated or should I say revealed the underlying problem that was there and this is not sustainable. When we consider the target inflation was 2.5m per month so 30 million new HIVE per year so 3 months of the current rate would surpass the yearly target. More is not better in this case and all this does is dilute the value of what we have already so it is not surprising the price will continue to decline and bouncing back will not be the bounce back we may have hoped for when it happens.

I keep mentioning in my posts things need to change and yes the DHF funding of projects is one of the big problems. Those responsible for what has taken place need to put up their hands and admit things were not perfect and that this needs to be thought out using common sense. Maybe get some fresh blood in the mix as the decisions that are made affect each and everyone of us and I know the 8 years I have spent building and accumulating my stake has so much personal meaning that HIVE is that important and needs to be the leader in it's category. We cannot screw this up and need to make sure what happens is the best for HIVE and if that is not the case then things have to be addressed and changed.