Demotruk put out some interesting stats on Hive account opening in relation to engagement yesterday. It turns out that the reward pool isn't as important as we think for the retention of Hive users. People are aware of the reward pool but it isn't doing so much to keep users interested. Why is that? One opinion was that rewards will not take the primary place of engagement and influence on a social media platform. I heard there has been suggestions to scrap the Hive reward distribution system as we know it and move on from blogging. While I think the system will inevitably evolve, the reward system makes a big part of the current Hive experience model.
We can understand why there is so much focus on gaining and keeping stake. As a new platform, we have a lot of reasons to encourage people to hold the assets at their disposal. There is the multiplier effect we could gain from the success of the platform. We also have influence and the ability to participate actively in the decision making processes on the platform. Definitely there are advantages, but they come with the passage of time. It takes discipline to delay gratification until the so called 'right time'.
When is the right time for a Power down though? I think the most accurate answer would be when it becomes feasible to retain influence and grab some decent returns off the move. Yet there is almost always the temptation to sell for cheap. Most of us have undersold our Hive assets for next to nothing. There are times when selling for the wrong reasons come to backfire. Selling for the right reasons though always feels well worth it irrespective of current prices.
My Hive story has been filled with ups and downs, mostly ups though. One thing that does stand out for me as a marker of the Hive experience is the amount of assets we each have at our disposal. Of course there are different ways to enjoy this platform and some people have entirely managed to completely demonitize their Hive experience. I wish I could say the same, but Hive is certainly more than the reward distribution system.
There are times when I wish I didn't Power down, and times when I don't regret having to. Of course, if we don't have people building their stakes we can't grow the platform. It isn't impossible, and due respect is given to everyone who has the fortitude to keep growing regardless of their personal circumstances.
This post has been an odd mixture of different thoughts. I hope someone gets something out of it.