You bring up another very good a valid point about key ownership and that if hacked someone could extract those funds quickly and pay the 10% fee. Bad! very bad!
I agree that a 13 week change to a 4 week change is not going to change anyone's mind for powering up or powering down. It's still long AF and wont sway investors.
This is why I love hearing other sides of the story as there are cases I don't think about that others have such as you had pointed out the possibility of a hack and someone extracting those funds instantly.
Is that worth the risk though? The same could be said if someone hacks a bitcoin wallet and extracts the funds you need to be careful and protective of your wallet keys and funds.
Also fully support and have been yelling about this for the last two months now that we need to build more. Support NFTs Support smart contracts support DeFi etc. If anything Hive is now starting to fall behind and we should focus on development over screwing around with APR rates and blog reward rates. Blocktrades has said though they would rather outside developers work on such projects. Which that's fine we just need to get some teams together but we also need the core Hive blockchain to now support and give us the tools to make these applications easier.
Yes, it's worth it x1000 times over.
Just wait, there are going to be massive hacks within the next year as crypto moons and all of a sudden the honeypots increase in size exponentially. Hive is a place users can go to in order to avoid all fears of being hacked... even if you get hacked you can change your key, and even if the owner key gets hacked there is account recovery. Undermining owner key security and the recovery process is such a foolish short-sighted plan.
Here's what's would happen:
We undermine owner key security... a bunch of people get hacked, and we realize we fucked up and we have to change it back. This is exactly why we are rolling back the EIP in HF25. The convergent curve was idiotic. Curation mechanics were always doomed and broken. I'm just glad the powers that be actually figured that out.
Just because security isn't a big deal now doesn't mean it won't be going forward. There's going to be a point where investors are looking for the most secure places possible to store there assets, and Hive is at the top of that list with the owner key, account recovery, and proper time-locks.
Honestly very good points and thank you for taking the time to bring them up and show the other side of things. Appreciate that.
What takes hive to the next level?
As you said DeFi, NFTs, etc.
Why haven't these things been worked on. Is it a lack of Hives capabilities or too complicated for existing dev teams?
I seriously want to see development happening but it just feels like it's not at the moment. I could be wrong though and I'd love to put a team together and knock some of this out if possible. There's plenty of money in the DAO to hire on some devs and make a NFT marketplace for Hive games something like wax has or to build a DeFi platform or a better swap so it's easier to get your hands on Hive. So many things that can and should be done but personally I don't know who to vote for and what to support to get those things in motion.
Cost is a big issue. Hive people are scrappy as fuck. We don't want to bloat the nodes and make them more expensive to run. Graphene/Condenser are already a heinous clusterfuck with shit documentation. We've been spending countless work-hours just trying to clean up this spaghetti factory of hackish bullshit.
At the core of it all we just need more money and devs.
I think we are going to make huge strides during the peak of the next mega-bull run.
Hopefully Q4 of this year.
Sweet, good to know going to do my part no matter how big or small it might be as I believe in the very real capabilities of it. Thanks for all the deets Edicted
One difference between Bitcoin and Hive is the fact that with Hive you are constantly broadcasting to other users how much you own and the nature of blogging platforms means you might want to share enough about yourself that you lose the pseudonymous nature of the blockchain. This makes it way easier to hack into your account (social engineering vs. actual computer hacking) - so the longer power down period helps assuage some of those potential fears you might have using Hive as a more personal blog.
Projecting and broadcasting constantly can also be a big weakness if your product is below average.
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