Everyone can see what kind of horse it is. I won’t strain myself trying to explain whether Hive is where it is because of its own faults, or because the family of the orange tsar is generating volatility in the crypto market (and beyond) for its own benefits.
Disclaimer: this post is an automated translation of this post @jocieprosza/czy-jest-cos-co-mozemy-sprobowac-zrobic, thus this one is set with
as 100% beneficiary. You can always support both posts.
In any case, we are in a difficult place and time..
Let’s not fool ourselves – individually, we are insignificant dung beetles as far as the market is concerned. That doesn’t mean, however, that such beetles, acting en masse, have no real impact on the ecosystem.
So is there anything we can do?
In my opinion: absolutely yes – with emphasis on my. So what should be done?
- Support with your vote the Return Proposal by
. In short, it means that any proposal with weaker support than this one does not receive funding from the DHF.
- Support with your vote the HBD Stabilizer Proposal by
. Its goal is to maintain the value of HBD at 1 USD. The Stabilizer earns by trading on the internal market, converts Hive–HBD as needed, and returns the profits back to the DHF. A renewal will likely appear soon, as the current one ends on February 11.
- Upvote the comment/post by
(it’s best to go to @buildawhale/payout and vote on the comment/post with the shortest time remaining until payout). All rewards from posts and comments are burned directly.
- Demand that the service operators you use support this initiative.
Will this help?
I don’t know. It certainly won’t block the ability to dump Hive on exchanges and push the price down, or to convert HBD, but maybe it will help bring inflation closer to the designed level? Or at least slow the trend. As far as I understand, HBD held in the DHF is not counted toward inflation, but Hive created from HBD conversions (including those originating from the DHF) is counted. From my reports on HP strength within our community, it appears that the top 40 users (excluding Gandalf) hold 1.5 million HP, which means we are not able to decide funding on our own. On the other hand, maybe we can just manage to tip the scales in our favour.
Is burning always beneficial?
Not always. If we burn a large amount of Hive/HBD, it will cause a drop in Market Cap (which is calculated as “current price” × “tokens in circulation”). Without a price increase, this lowers the token’s ranking on CoinMarketCap or CoinGecko. That may be discouraging for attracting and retaining users, if they rely on CMC when choosing a project. Personally, however, it seems to me that people join Hive mainly because they care about censorship resistance, decentralisation, Web3, etc. Larger players probably focus more on hard numbers, but they likely look at liquidity rather than CMC and are generally not interested in projects they cannot control (where they can’t reverse transactions, shut down the blockchain, etc.).
Ultimately, we are at a point where I see no reason not to try and see what the effects are .Not always. If we burn a large amount of Hive/HBD, it will cause a drop in Market Cap (which is calculated as “current price” × “tokens in circulation”). Without a price increase, this lowers the token’s ranking on CoinMarketCap or CoinGecko. That may be discouraging for attracting and retaining users, if they rely on CMC when choosing a project. Personally, however, it seems to me that people join Hive mainly because they care about censorship resistance, decentralisation, Web3, etc. Larger players probably focus more on hard numbers, but they likely look at liquidity rather than CMC and are generally not interested in projects they cannot control (where they can’t reverse transactions, shut down the blockchain, etc.).
Please also take a look at two posts by
@sarmatiapay/why-does-hives-inflation-look-the-way-it-does-enpl
and
@sarmatiapay/inflation-abuse-and-stagnation-fixing-hives-economy-problems