100%. Anyone who has HP benefits from downvotes. (Assuming they are not the one who got downvoted and the downvote isn’t on something they curated).
Downvotes reduce inflation and allow you to curate for higher quality content which benefits HIVE. There is literally an economic incentive to downvote. And also, it’s like a button that’s right there. It’s pretty innocuous. Nothing on the user interface says, “WARNING! People will go absolutely insane if you click this button!”
Let me see if I understand your point. If there are negative votes, fewer new hives are generated, lowering the hive inflation rate. But I have a question: Don't negative votes cause rewards to return to the reward pool? Do they result in fewer total rewards being paid out?
No that was not my point.
No. The dislike button does not “return” rewards to the pool
Do they result in fewer total rewards being paid out? I have no idea how I could even prove this so idk what you are asking.
If the downvote doesn't return the rewards to the Hive rewards pool, I think I understand your point.
IMO (and what I am thinking is constantly evolving):
• Minting HIVE for low quality content = inflation
• Minting HIVE for high quality content = value creation
HIVE is essentially "backed" by the quality of the content on the platform.
This is how I am currently thinking about it anyways.
Quality is a relative concept.
I don't believe any post creates real value for the blockchain, regardless of the author's reputation.
I see more value creation coming from more responsible projects, more swaps, more apps—in short, more developers and ecosystem growth. I also don't think it's about simply adding more people at any cost.
I just disagree.
HIVE is social media. The quality of the content and the quality of the conversations does impact the valuation. Just like every other form of social media.
I accept that quality influences the rating of a post or comment by those who vote on it (including dislikes).
But I don't believe that the quality of posts supports the value of Hive as a cryptocurrency. Its value depends on supply and demand, and the discussion is primarily about the future.