Today you and me are in hive blockchain eco system. We claim this hive eco system is built on blockchain and we claim this is a decentralized platform, but how far does this decentralization go? We are aware that any content or data that is made in the blockchain is permanent, as we know once an account is created it cant be deactivated nor be deleted.
For each content that is made the content creator is rewarded with various hive coins, so how is this hive coins distributed? What if tomorrow hive simply decide to stop paying rewards? or what if hive start selling advertisements? Since the payout and supply is solely controlled by hive, how does this fit the description of decentralization??
How is hive paying its content creators? They are paid with hive inbuilt coins. So, how is hive making money? By selling its own coin. But to earn some good amount of hive coins you need to have some good amount of hive coins in your hive wallet. So to get some hive coins you need to have hive coins already. So dosnt it look like pyramid scheme? What happen when at one point hive runs out of coins or when we reach the top of the pyramid.
Also, we all have been posting contents, up voting and making comments on the posts we like and we must have edited our comment or content of our post at least once, isn't it true that any content in the blockchain cant be modified or tampered with, so in this case how is editing of an post possible? Isn't it against the basic concept of blockchain and decentralization?
I would also like to mention here that hive is a hard fork of steem blockchain. The reason hive was hard forked from steem was said that steem is too much centralized. The steem too started with concept of decentralized blockchain blogging and later a community claimed steem was too much centralized and hard forked. Now, how long till another community claims hive is too centralized and go for another hard fork?
What am i missing here?? Please shed me some lights and i am more than willing to understand the concept cos i am already loving the hive eco system.
Thanks in advance.