RE: LeoThread 2025-02-16 22:47
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Crap like what happened with the Hive DHF is why I am into #proofofwork over any form of proof of stake.
One person shouldn't have that much power over what is advertised to be a decentralized ecosystem.
The Hive whales proved today that...
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oh they sure made that point.
We have both experienced it before.
Funny how they became steemit (or there were all along)
I guess that bid-bot money went to there heads.
See why I say LEO should fork... And fork only LEO stakeholders or something. I don't know that would get nasty, lol. But hey, here we are... They really fired the first shot of what is probably going to become a war over the chain here pretty soon.
Hate to say it... But this is why I am pretty much out the door. Shut down my Hive-Engine witness and everything.
Yeah not going to disagree with any of this.
This is all why I am going full bore into mining. Because it's all about the hashrate, not how many coins you have.
which is how crypto started and looks like how it is returning.
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So this project (hive not onleo) doesn't seem to have a future?
Agree 100%. A few accounts with so much Hive power dominate the whole system. But that´s nothing new...
Nope, but this is the first time @blocktrades has showed his ability to take over the chain. Not that he meant to be malicious, because my run-ins with him, he seems to be an alright guy, but this was a hard one to swallow. Between him and @theycallmedan there is entirely too much control.
Yeah... I see. But then it should be the task of a decentralized system/community to build things different so that it´s not possible to take over and control so much, no matter how big your account is.
Not going to happen in a proof of stake system. That's the whole problem with proof of stake. It's just rich get richer and have more power. Period. And you can't find a PoS system that is NOT like that. I have worked in a few of these ecosystems at this point, and they are all the same, nothing but a popularity contest or let's pool our stake with the people that already have the most, so we can earn more!
The space has lost it's way and really doesn't care about decentralization anymore for the most part, other than a few hard core cypherpunk communities like the Monero community.
The solution is and always has been proof of work. Period.
Yes I get it. That´s sad... Can a system be changed from proof of stake to proof of work?
Probably not. It probably wouldn't work for Hive because of the whole need to have the 3 second transactions and such as well as just the overall mechanics of the chain. That's why there are only 20 + 1 signing witnesses per block. They don't want anymore due to performance reasons. A proof of work chain requires more confirmations, which makes it a way more secure blockchain, but they really have the one purpose of being actual money instead of being network gas for a chain like Hive. Hive is nothing more than a utility token really.
Thanks for explaining!
Yeah, no problem.
Well, kinda new here but it's obvious that the model will allow those with a huge stake to have the power to make it centralized