Growing Communities: Who Actually Gets the BENEFITS, and Who CARES?
At a very basic level, Hive is a community that "rewards content creators and curators for creating content and engaging with it."
Certainly, Hive is a lot of other things, as well, but for the moment I'm going to focus on the social site.
Over the past couple pf months, I have noticed a number of discussions centered around the issues of rewards, bid bots, vote buying and various related topics. I suppose these are almost inevitable points of contention in the context of a place that offers "compensation" for its fundamental activities.
Most of these discussions revolve around who is getting the benefits, and how much they're getting, and by what means they're getting those benefits.
But I think it's important that we also poke around in who cares, and why do they care.
There are different ways of looking at and approaching this situation.
We can look at it at the root level of personal perspective: that is, seeing a situation and deciding whether it benefits you and thus you're in favor, or whether it seems like it's taking away from you, in which case you're opposed.
Of course, the problem we invariably run into there is that everybody has an opinion.
We ultimately have a situation that's a bit like running a village or a town or a city or even a country; people bring different perspectives and objectives to the table. Arriving at 100% consensus is almost a guaranteed impossibility — we all want different things, according to our needs and beliefs.
Looking at these discussions I made myself take a step back and stop worrying so much about how anything benefits (or not!) myself directly and instead consider the broader question of what is good for Hive as a community, for its overall health and growth and simply putting my trust in the idea that if Hive is thriving then I will thrive — by association — without having to push my personal agenda.
Albert Einstein famously said: ”No problem can be solved from the same level of consciousness that created it,” and perhaps that’s something we must apply to solving Hive’s issues.
Regardless of whether we have a big stake or a small one, perhaps it would behoove us to step away from the question of "what's in it for ME," and instead approach the problem for from the perspective of what's in it for Hive.
It’s entirely possible — even likely — that the best solution for the entire ecosystem isn’t the one that will put the most money in your pocket, right now.
If we instead think of Hive as a ”Golden Goose” that lays gold eggs, wouldn’t it behoove us to take care of and nurture the goose before we worry so much about ”how many eggs will that give ME, today?”
Of course, it ultimately becomes a game of philosophical/psychological orientation, along with that question of patience and the need for instant gratification.
I'm reminded of one of the lessons from college days, in which the question is whether you'd rather have $1,000 right now, or $1 a day guaranteed for the rest of your life. For a college student — who might well live another 60 years — $1 a day for 60 years translates to $21,900... and yet? The vast majority of those asked would rather just have $1,000 right now, and to hell with the future!
And yes, I realize endless arguments can be made about investing the $1,000 yourself... and ending up with a better result.
Just as a couple of points of reference, $21,900 is more than twice the the present value 9adjusted for inflation) of $1,000 60 years ago, but substantially less than what you'd have if you put that $1,000 into a stock market index fund and left it alone for 60 years.
Which goes to illustrate the conundrum of this whole discussion: It is simple in our nature that we all believe we can fare "better than average," even though doing so is mathematically impossible!
Ultimately, the closest we can come to building Hive is focusing on Hive's well-being, rather than our own individual well-beings.
Feel free to leave a comment — this IS "social" media, after all!
10% @commentrewarder bonus active on this post!
Rewards & engagement are key! 🚀 Hoping those discussions lead to positive changes for everyone. 🐴
Yes, engagement is definitely very important. When somebody engages with our content we feel like what we're doing is worthwhile regardless of whether we're getting paid for it or not. At least we're being seen!
Thought provoking stuff ! I like to think that I do mostly think about what is good for Hive first rather than just what's good for me. After all, if something is good for Hive as a whole, then it'll be good for me in due course anyway.
For me, the biggest issues are for Hive to encourage people to keep their stake in the system and let it (and the overall market cap) grow, and also to ensure that expenditure (by which I mean both rewards to authors, curators and witnesses, as well as grants from the DHF) is balanced across it's recipients and made in ways that keep capital within the system.
Although I can't see it happening, I'd love to see the DHF significantly reformed, so that only core coding is funded as a grant, with everything else funded as a repayable loan (probably at zero interest if there's collateral to ensure it does eventually get repaid). I also think the voting needs to be weighted by the scale of funds requested. It's crazy that someone needing just a couple of hundred HBD over the life of a project has to get the same number of votes as someone asking for a million HBD.
I read a post a long time ago in which somebody used the term ”selfish altruism” to describe the ideal formula for Hive. In other words, we act for the betterment of Hive in such a fashion as for it to benefit us in the long term.
I will say that since the institution of a higher interest rate on HBD deposits, I am more inclined to keep my liquid rewards in the system, rather than take them out. Of course, my account is very small and I don't exactly make enough that it's going to buy me very many baskets of groceries!
I agree with you entirely with respect to the DHF. Whereas it is unlikely to happen, I do like the idea of grants only being for core maintenance and the rest being essentially interest free loans. As an aside, when you apply for a grant out in the real world you have to jump through all kinds of hoops to document what you do with the money, as well as submit updates on a regular basis. That should be required on Hive as well. There's just not enough accountability here.
I haven't heard that term before, but it perfectly summarises how I think of Hive 😀
I've been arguing for reform of the way the DHF works for a while, but I'm a tiny voice in a sea of whales, so it's going to need people more influential than me to speak before any change is possible. Won't stop me talking about it, though !
!BBH
I never had a problem with bud-bots, I didn't use them but still think they were okay.. after all a transaction is a transaction and that's what keeps the blockchain going
I didn't really have as much of a problem with bidbots themselves, as much as with the fact that paid votes were not marked as such.
You go anywhere else — whether it's YouTube, TikTok, Facebook, Twitter, or some other site — and stuff that has paid to be highly visible shows with a clear note that says ”promoted content.” I would have had no problem with bidbots if posts that had made themselves look important and valuable were clearly marked ”this is promoted content.”
I actually never thought of that.. that would have been a great compromise
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