Why do we stake our assets at all? Who would willingly give away the ability to liquidate his/her assets for any period of time? Staking is promise, and power-down is a prove you can keep your promise. In our case, this is the promise your money will be working for the good of community for a definite period of time. Staking also means these assets will not be dumped on the first opportunity. This gives certain level of sustainability and predictability to the whole community. This tool has intrinsic value in itself. I would dare to say this is one of the reasons we have so strong support level around 10 cents.
I see the power-down period discussion wrong on so many levels. Firstly, it's being given to a vote in the very emotional time of hossa, money is being thrown back and forth from one place to another, but somehow missing the Hive. Obviously we are trying to do something to change this, this might be one of the last cycles on the crypto-market. Clock is ticking, many might feel stress. Yes, this is not a new thing, power-down discussion is like forever-long, but decision of this significance shouldn't be taken with the pressure of the market conditions. This is the worst moment ever. Also, it will create a dump-friendly environment for the coming peak of alt-season. Do you want to go out? Just power-down. 13 weeks seems to be a safe measure for this cycle peak.
It's understandable we all want to maximize our profits, but let's call it for what it is. I'm far from pointing fingers, but it's obvious the parameter of engagement-length within the Hive community is not constant. Don't get me wrong, it's nothing bad, but we need to figure out the way to incorporate this variable into Hive workings to provide long-term sustainability for this community.
Secondly, there are many kinds of investors. Would these mythic 13weeks-afraid investors really park their money for any period of time here, when there is so many DeFi project bringing much more? I don't know, but I just see the focal point out of the issues impacting our popularity and the price in much greater scale. This is the trap of solutionism. Why not focus on creating the real value of Hive for what it is, instead of copycatting moves of direct competitors or just trying to fit in the herd of animals of different kind?
And lastly, any given period of power-down is strictly arbitrary, meaning any argument is just tug-of-war. Discussing "period X" vs "period Y" is a highly political game of influence, and I can't see it doing any good for Hive in the long term. Let's keep politics out of Hive, we can do better than some pseudo-democratic thing. This discussion should have been brought to another level. Or should we get prepared for the discussion about 1week power-down in the future? Staked funds bring value to Hive, but what has even bigger value is a chain being driven by a community. Any rigged power-down period should be just a temporary solution before figuring out something better. There was so many solutions for powering-up being discussed. What happened with these?
There was proposition of users choosing period of power-up with higher APR incentive. Hive-loans platform is being worked on to power-down instantly for a fraction of your stake. Proposition of creating system with power-down period changing in the real life based on the community votes was there and probably few more. Why do we end up with an arbitrary, political proposal written on the fly? 4weeks or 13weeks? What sort of hostage situation is this?
Hive is a great and fascinating social experiment which possibly might bring real change to how we do things on-line and can positively affect the lives of many. Beyond that I don't know what Hive is or might be, but I can see clearly which values are praised here. Decentralisation, sovereignty, community, engagement, vision, independence, let's not sell these cheaply. Without these, we have no chance in a direct competition with centrally developed chains. Choosing to build on values can bring us success of the unique kind. This is the long term perspective.
Anyway, this is my opinion, love it, hate it, argue with it, just leave your thoughts.
Cheers!
Love it. After 8 months I've been staking >5k Hive and next target is 10k :))
Agreed. Changing the lock up period isn't going to make investors suddenly want to invest. Investors don't even need to stake their Hive in the first place... they just need to buy it.
If a bump in price is desired, then the most important thing is to get Hive on exchanges that accept fiat. Then market it outside of the Hive echo chamber. Pay to get articles in the financial press etc.
And many people already do it. There are a lot of Hive on the exchanges.
Perhaps so. I do buy Hive on the exchanges to transfer between them if i need to.
But there aren't enough investors or at least not big enough ones to outweigh the selling. The selling is another problem that no one wants to fix.
Selling is a solution for many people.
Probably I will also sell some Hive soon, because I need it.
Nowadays I live in financial discrimination in Hungary.
I receive a low (approximately $250 USD per month) pension-like income (because of my multiple disabilities), but the minimum wage is approximately $550 USD. Nowadays I also work in a 4 hours per day part time job, but my income still does not reach the minimum wage. Hive provides a little additional/alternative income for me, but my income is still below the minimum wage, even with the help of the Hive blockchain.
That's fair enough and I don't think anyone should begrudge selling Hive every now and then.
But i did come across 2 accounts that are getting more than $100 whale auto-votes every day and selling it all straightaway. There are probably a lot more of such accounts. This should be an easy supply side fix.
I do believe a solution for this is to get phisical stores to accept hive and raise a consciousnes on this stores that they can have their own blog, changuin the way we trade for this social window. More than social masa media.
I think we now have a Hive List token that's like a classified of sorts that allows you to accept Hive payments on your store? That's a start but yeah, like you said, when we have physical stores accepting Hive payments, that would be massive.
I don't know if anyone is working on it but given the fast transaction times and the fact that they're feeless, it seems like a good choice.
Great post. Have been reading a lot about the power-down shortening arguments and they all seem quite focused on short term profits and the mania that's being induced by the current bull market. Some people seem to think that reducing the power-down period will increase price which will increase the number of people that will join the Hive community, but how many of those people would just leave as soon as the price dipped?
Staking provides an incentive for the community to stick around regardless of price action, and makes whales and high level curators put their money where their mouth is to gain influence on the network. Having people be able to power-up, mega upvote or downvote random content and then power-down at will seems like it would really harm proper engagement with the platform itself.
I'm actually fine with 13 weeks - 4 weeks is definitly too much velocity.
It is not always a good thing to be able to "cash out" fast.
This is a great discussion. I'm still new to Hive and really haven't got fully to grips yet on all the various states of Hive and their properties. However, I do think the option of staking Hive with a long-term power-down and therefore a high APR is a very good option in this climate. You can't get that sort of APR in any of my local banks.
So perhaps, as someone mentioned, a selection of power-down terms with different associated APRs to incentivize longer-term investments over short-term ones. This would help with Hive stability and growth.
But, yes, more options for turning fiat directly into Hive is where outside crypto-curious users are going to come from. The more gateways the better. And perhaps a dapp that can plug into online (or offline) stores for accepting feeless payments would be a great way of attracting commercial activity into the eco-system.
But this would all need a concerted effort, given the commercially-backed competition out there.
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I'm new and don't know all the ins and out but why don't we give no or 1% apr for liquid hive and hbd and say 5% for hp?
ATM you get around 3% APR on HBD and with curation you can get as much as 9-15% APR on your HP
Agree but what if we dropped apr on liquid boosted base on hp?
💯
My personal view regarding power down period is between 1-4 week
Yep, I agree
Yes, hive haves a social impact usecase, for me it have been an essential tool to hodl My art, hodl the vibe and thrive.
Currently facing my 13 move from a place to another in lockdown, i do believe in hive potential and currently power.
I understand that EOS was looking at different Staking periods pool's. The longer you stake the higher the Apr and governance vote. Might be a good solutions to let people have the options. Personally I continue stake long term.
yes, staking is the best option. im staking in steemit and hive at the same time