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RE: Value Plan Q4 Proposal + General Information

in #valueplan3 months ago

Hey @deeanndmathews thank you for the extra link resource on that regional adoption thingy. It's a little more convincing to me that it's a good move to expand on that region since we're in top 3 and seems like it's a whole lot easier to explain crypto all around now compared to a few years ago 😃

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I was hoping it would be helpful, and I have it owing to @reeta0119 doing a post showing that India is number 1 in the world in crypto adoption. Nigeria is no. 2, Indonesia is no. 3, and the United States is no. 4. Ukraine is no. 6, Russia is no. 7, and United Kingdom is no. 12, but other than that, Europe is not where crypto is picking up in the top 20.

My thing is, and I will continue to say it: there are market trends and there are adoption trends, and if I as a crypto investor can find out what they are, so can anyone considering Hive. Now, if we have a marketing plan that is overcoming these trends, we DEFINITELY need to fund it and celebrate it. But sometimes it is easier to work WITH the trends ... $200,000 goes further sometimes that way, so I wanted the data to be out there.

I just remembered -- @mcsamm, did you know that Nigeria is no. 2 in crypto adoption? I cannot say I am an expert in West African affairs, but I'm sure the story of how successful Hive is being in Ghana in changing the lives of so many real people will be of great interest in Nigeria, and since crypto adoption there is already second only to India in the world, Hive should catch on quickly! I don't know what cross-pollination ideas there may be, but I just put it out there for love of my own West African ancestors!

. But sometimes it is easier to work WITH the trends

That's true! it's a different ball game considering in the past regulation are still in gray zone and people are wary about investing in. In Indonesia, crypto is heavily regulated and taxed these days with upcoming government support on more adoptions and they even plan on doing some projects around blockchain. Our current vice president is young and wants to catch up with any tech innovations. While I don't necessarily agree with any of those regulations and taxation, I guess, we can scratch all that and just focus on adoption!

But we are having the same problems in No. 4 and No. 12 -- the United States and the United Kingdom have crazy regulations, crazy taxes, and are threatening more! The difference is, though, is Indonesia is hungry for better. So are the people of India and Nigeria and Vietnam, and certainly Ukraine (and even Russia too, at no. 8) -- life is not so comfortable that people can take fiat for granted. The USD and GBP are comfortable if one has access ... I can't get people to look at anything that is now hanging around 20 cents or 15ish of whatever goes for pennies in a pound here unless they really see the vision, and I imagine it might be similar in the Euro Zone unless people are hungry for better. It will not be the most financially stable -- WE ARE COMFORTABLE AND NEED NOT TAKE A RISK -- it will be those who are hungry for better and know fiat can fail them. We already see that on Hive -- what @hivesucre is doing is amazing in Venezuela, but Venezuelans don't need as much convincing -- they know Hive is BETTER in so many ways!

This is why I am saying, maybe we should focus on what the trends are telling us ... even on Hive, we already see who and what are into this. We now have a top 20 list for the world from one of the world's finest collectors of data on crypto!

I agree with your main premise and this is not an argument against it but I have to ask ... do we have crazy regulation and crazy taxes in the UK?

The regulation that exists concerns centralised blockchain cryptocurrencies set up in the UK which have to register with the Financial Conduct Authority. I'm not opposed to that because it will go some way to stemming fraudsters and may even control the banks and financial instituations although I'm not holding my breath. In any event, it appears our regulation is far less draconian than the European Union's MICA regulations - possibly the only benefit of Brexit that I am aware of (and I take your argument about the reality of focusing on Europe - a relatively affluent declining part of the globe).

With regard to taxation, we have guidance only. Any attempts to get clarity from HMRC result in a referral to the guidance that you were seeking clarity about. If that's crazy I agree, but there's a lot of room for flexibility and negotiation.

I was pleasantly surprised at the workshops I ran in the summer at the increased awareness of and experience with cryptos. Sadly, some was through a fairly common scam, but lots of women had awareness and knowledge and were holding small amounts of crypto. Most of them about £100, which is the most frequent amount of holdings among crypto holders.

I know this is all moot as the UK is not going roar ahead with adoption 😁 I thought about tagging you in this other conversation because of some of the discussions you and I have had about developing a plural income for writers - would love to have your thoughts there, too.

Well, the UK is 12th in the top 20 though ... not roaring ahead, but holding the standard for Western Europe (the irony, of course, is Brexit)!

I did not know about the flexibility and negotiation ... to me it is a crazy situation not to have anything set in stone because people can tell you whatever they want about what you owe ... but if we are talking an average of £100, that's not so hard to work with. I have heard that there are limits to how much of one's portfolio the UK will let its citizens hold in crypto -- that was on the regulation side that I was thinking of.

Here, every swap of a crypto -- not a sale, no USD yet generated -- is taxed like a sale, so you have to sell your stuff in the long run to pay all those taxes! We are also considering unrealized capital gains taxes, so the level of crazy is much higher here! Meanwhile the government has being going after and shutting down exchanges and platforms on what they now admit is a big oopsie ... "oh, we regret calling crypto a security after lying and running folks out of business on false claims." We are in place no. 4 -- so, admittedly, eight steps ahead of the UK on sheer insanity, too!

I have put myself in the loop with you and Macchiata, so, let's see where all this goes! I think that there must be good possible if three women from the third, fourth, and twelfth best places for crypto adoption in the world put their heads together on how to support writers and Hive at the same time with good data and good experience!

Well, HMRC can tell you all sorts of stuff, and much of the guidance is not very good - hence the questions which they are not able to answer. I expect a lot of it will develop through casework. It is important to have a good accountant, though.

I'm not aware of any restrictions on how much you can hold (at least one person or entity is holding £7.0M of crypto, a massive jump from the highest holdings of the previous year), but there is a little questionnaire you have to answer before you can buy/sell - more to make people aware that crypto is unregulated and high risk and don't put your house on it.

Actually, London has the largest blockchain industry outside of the States and the last government were keen to promote it and attract more investment, especially after losing so much of the financial services sector after Brexit.

Great that you've made the connection with macchiata. My own ideas won't be starting until later in the year/next year as I have other things happening. Maybe by then the DHF will have settled down. Let's see what happens!

The thing about the DHF -- there's something called the Return Proposal. A lot of Hivers have voted that way up on HP, and no project can get funded until it exceeds the amount of HP on the Return Proposal. This I think has happened because the DHF is pushing the Hive inflation, but a lot of projects are not presenting results to the community such that we can know why we should allow said projects to get funding and -- guess what -- push the price down through inflation. There was this article by @dalz that showed that although it is common among some to blame content creators for the inflation, it is actually Hive's own mechanisms that are causing this: https://peakd.com/hive-133987/@dalz/what-is-causing-the-additional-hive-inflation-in-the-last-months-where-does-it-comes-from

The HBD stabilizer sells the most Hive, and the DHF spends the most HBD, much of which has to be converted to Hive for sale ... so there we have that. We need HBD to stay stable around $1, so then the only other thing to do is look carefully at how we spend on projects, and I think that is why the Return Proposal is up so high right now. So, a new proposal needs to have somewhat over 36 million HP voted up on it to pass. Something for both you and @macchiata to think about when you consider working with existing proposals or beginning your own.