Dan Larimer: Hive's Evil Plan For Cryptocurrency World Domination
This is obviously a play on words and for those who were around Hive since the early days, this will make sense. For the rest, grab a cup of coffee and read on. It will become clear as we go along.
There is little doubt the last 5 years were interesting for those involved with Hive. A lot took place that resulted in a bunch of starts and stops. Nevertheless, we seem to be hitting our stride.
To me, there was always tremendous potential in the Hive technology. There were certain things that made it stand out. For this reason, I felt that Hive could be one of the leading blockchains with some adaptation and expansion. This was a viewed echoed by Dan in a post from the earliest days of this blockchain.
He wrote Steemit's Evil Plan For Cryptocurrency World Domination. It was one of those documents that was a standard for all to follow. Give the guy credit: he might not be much for sticking with a project but he is a very insightful.
In many ways, the view Dan had mirrored mine. There is a lot here that cannot be done elsewhere. One case is point is micropayments. Nothing out there at the time could even offer this due to transaction fees. Obviously, little happened to this point yet Hive is now starting offering micro-earning. Imagine the potentiality of micropayments when it comes to infrastructure. Automation can be a huge part of this.
Over the years, we had the incompetence of Steemit Inc under the leadership of Ned. Then there was the war with Justin Sun resulting in a fork. This stemmed from the pre-mine stake that was never addressed despite years of discussions and agreements. Finally, on March 20, 2020, the code via a hard fork was in control of the community.
That is an important fact. This stage of our evolution is not even three years old. The base layer code base was a mess and a few years were spent cleaning that up. We also did a great deal to ensure scaling is not a problem.
So now let us focus upon "cryptocurrency world domination".
Hive Backed Dollar Coming To Life
We spent a lot of time discussing the Hive Backed Dollar (HBD). This only started to receive attention with the introduction of the HBD Stabilizer. However, in reading the linked post, it is easy to see that Dan believed the stablecoin was the power center.
In fact, the entire essence of that article is that social media activities are nothing more than a Trojan Horse. It is a way to get people involved yet that is not the real value.
The real money isn’t in blogging, content generation, or voting. The real money is found in bootstrapping a digital currency. A currency owned and operated in a decentralized way by ordinary people.
This seems to be to be the merging of social media and finance.
Ultimately, there was a 3 step process involved:
- Phase 1 - Bootstrap a Stable Currency
- Phase 2 - Bootstrap a Marketplace
- Phase 3 - Sidechains, Smart Contracts and SmartCoins, Oh My!
Keep in mind this post was written Jul 6, 2016. That said, it is easy to see how this path is unfolding before us on Hive.
It is also something that is not being pursued, even to this day, by any other blockchain.
To read Dan's full article, click Here.
Hive Is Starting To Hit Its Stride
Over the last couple years, we saw a huge step forward in the Hive Backed Dollar. The HBD Stabilizer has worked well, helping to provide stability to the coin on the Internal Exchange.
To bootstrap this currency we need people to have a way to earn it. This is what posting rewards are for.
We also added to this idea by offering interest on savings. This started at 3% and now stands at 20%. This is delivering more currency into the market on a daily basis. One of the keys to be a strong currency is distribution. If people do not have it, they cannot use it.
There were also derivatives of HBD created by the Leofinance team on a couple other blockchains. Dan did not elaborate on the expansion of financial offerings tied to the stable currency which can also provides massive strength (and growth).
The second phase has not really been addressed up to this point but we see Phase 3 starting to emerge.
We know that with Hive Application Framework (HAF), Honeycomb, Hive-Engine, and SpkNetwork, we see a lot of infrastructure going into place. Hopefully, by the end of 2023, we will have a couple robust smart contract platforms in operation. This will go a long way to setting Hive even further apart.
Once you have a highly functional currency, a robust community and market place, and lots of content to bring in new users, you are ready to start building robust smart contracts and side chains around these assets.
Seems like a good plan.
Nothing Has Changed
It is ironic that we can proceed forward in an enormous way, taking great strides, yet thing still remain the same.
Some of the initial conversations are still being espoused today. Fortunately, we are much closer to some of this coming to fruition.
Think of a side-chain as a Facebook app. It will allow developers to build new games. It will allow people to issue their own currencies. All kinds of robust financial instruments can be built on the back of the Steem Dollar and the Steem network.
Unlike other smart contract platforms, Steem will have no fees! This means app developers can build things that just aren’t viable elsewhere.
Does any of this sound familiar? Many of us keep harping upon different sections of it on a regular basis. We also see many projects teams starting to bring aspects of this into the light.
The difference now is that parts of this plan are starting to come together. It took a lot of years and some clearing out of roadblocks but we can see where we stand.
My optimism about Hive has not wavered. In fact, it has been consistent for more than 5 years because of the technological capabilities and some features that make Hive unique. It was also the premise for the idea of The Hive Financial Network.
For years, many of us knew the potential for Hive was enormous. Now, it is finally starting to evolve.
And like the view from 2016, there is the opportunity to do things no other cryptocurrency network can do.
If you found this article informative, please give an upvote and rehive.
gif by @doze
logo by @st8z
Image from article linked
Posted Using LeoFinance Beta
https://twitter.com/1331330355513745413/status/1618998307271110656
https://twitter.com/1413161729106776065/status/1619011509371244547
https://twitter.com/1415155663131402240/status/1619213879955050503
https://twitter.com/313732968/status/1619311945647263744
https://twitter.com/27706436/status/1619376982571225089
The rewards earned on this comment will go directly to the people( @taskmaster4450le, @no-advice, @rzc24-nftbbg, @tadesaurius2323, @seckorama ) sharing the post on Twitter as long as they are registered with @poshtoken. Sign up at https://hiveposh.com.
I've always been a fan of Dan. I know a lot of people have issues with him and I can kind of understand why, but like you said, he has a good mind for all of this, just not the tenacity to stick to it when things don't go exactly as he planned. I was part of the EOS main net launch and I still have some assets over there. I started to read his book "More Equal Animals", but it was summer and the content was much too heavy for me to deal with during my time off, so I never finished it :)
Posted Using LeoFinance Beta
Yeah. In some areas there are things where he is far ahead of the curve. I do disagree with some of his assessment on things in terms of his ideology but when it comes to looking at this, he does have a knack for it.
The blockchain now appears to be shaping up to be able to handle what we throw at it.
Posted Using LeoFinance Beta
It would be cool to hear what he thinks about Hive as it exists today. I have to believe he would at least be a little happy with what we have accomplished.
I am not sure. My sense is he is very competitive and would feel a bit usurped.
Posted Using LeoFinance Beta
I guess I am more of an optimist. I'd like to think he is proud of what we have accomplished. It isn't like Eden is really breaking any records right now.
HBD statistics from @dalz make me feel confident that HBD will do great in the future. The only thing we are lacking is a way to keep onboarding new users fast enough before projects like DeSo go all out with their marketing money!
Posted Using LeoFinance Beta
Yeah almost a billion transactions last year, HBD getting strong and pockets like Sucre starting to adopt it.
We have a lot going for us.
Posted Using LeoFinance Beta
Why not build on Koinos? :P I understand your points, but I would be interested in hearing your take on this also free to use chain. Are there any advantages there that we don't have here?
Has its mainnet already launched?
yes in December
WOW, thank you for this info! I was thinking to check their discord but couldn't put much effort on that front. I remember, I had some mined KOIN in one of my Ethereum wallets; and would like to get them on Mainnet wallet. I'll soon take some time out to move my coins and check what that chain has to offer. Wasn't paying any attention to it for long.
you'll find help there how to claim
I havent followed it much but there is a central development team which is always a point of vulnerability.
Posted Using LeoFinance Beta
it's funny, because I have now asked blocktrades, edicted, dan and you about it and I am always getting the same answer: we don't (fundamentally) know anything about it. This is fine, but koinos are basically trying to solve the same problems that we have and are going about it in a different way. I guess my point is that we could learn from them and perhaps improve Hive as well
They have often advertised themselves with this chart (of which Hive also checks most points and could add some)
while they have developed it, they have now handed the chain over to the community. SO I think that's a smart move
Why not build on Hive? I would be interested in hearing your take on this also free to use chain. Are there any advantages there that we don't have here? 😎
well one thing that often comes up is scalability. On Hive an account costs 3 Hive (variable), but on KOINOS it is completely free. It simply requires an address. They also do not need Hardforks which simplifies upgrading the chain a lot. But all in all Hive is a solid architecture - I was just curious if I wwas missing something
$3 because some people want to make a buck, with HiveOnboard or Ecency free accounts can be created.
Even Koinos will need hardforks for really important changes that need to be enforced.
Same here, I was curious about Koinos, thats why I asked. 😎
They are actually on the blockchain level not free (hence the $3). On Koinos you simply require an address which is why it is truly free there.
This is an interesting read, I have not read Dan's article yet but looking at his vision and what Hive has evolved to and still evolving should make anyone excited to be part of Hive.
Those not on Hive are losing out big time and those on here should be taking advantage of Hive's offers as much as possible.
Posted Using LeoFinance Beta
This post has been manually curated by @bhattg from Indiaunited community. Join us on our Discord Server.
Do you know that you can earn a passive income by delegating your Leo power to @india-leo account? We share 100 % of the curation rewards with the delegators.
100% of the rewards from this comment goes to the curator for their manual curation efforts. Please encourage the curator @bhattg by upvoting this comment and support the community by voting the posts made by @indiaunited.
The guy was a visionary and way ahead of the curve. I always ponder about the way this blockchain was built and all its aspects like the voting and rewards distribution, mana and how it is rechargeable etc. And I always come to the conclusion that it is a work of art and the team that built it are geniuses. It's arguably light years ahead of many other blockchains. Was Dan the founder?
Hive has really come a long and I'm fortunate to have found a community like none...
Just exceptional
The Hive ecosystem is great for running a business and I think we are all entrepreneurs in this space. And it depends on us on how much we envision and want our business to be. Building is the way to grow here, in its different forms.
Posted Using LeoFinance Beta
I would love to see a market place type of application built here, something like Etsy but based on HBD. I wonder if anybody else on here would be interested in it?
I agree 1000%. That would be a great addition.
I havent heard of anyone building that.
Posted Using LeoFinance Beta
https://hivelist.store/ is something like that
Yes, just like that. How does something like this fly under the radar? Hivelist needs a little more advertising.
I'm going to look into this and see if it works for my daughter's jewelry store.
I cannot wait for Hive to start offering services. For someone like me who does video editing and illustration, imagine we had a marker place like what Fiverr had. Content creators would be able to help each other out.
It would be nice to see some expanded abilities although @logicaldude has his store already running.
Posted Using LeoFinance Beta
Oh, I'll check his blog out.
Reading this I am glad to get involve with hive.
I don't think I have seen a post on how dan set the original code in motion, nor the early reasoning that got us the various hardforks.
I got here just before hf16, I'd sure like to hear some stories from before then.
In particular how the n2 was determined to be the best way to do it, why the 50/50 author/curator split got changed to 75/25, and how the early beneficiaries came to be here.
Dan is definitely a genius, and an ideas man. I don't think he ever cared much about running things, he just likes to build them.
But yes, Hive is coming into its own, slowly and gradually. In a sense, this is a utility chain, and the token is a utility coin, and I think that's a plus... suggests (at least to me) the opportunity for stable growth over time, rather than these nervewracking 10x moonshots followed by 90% crashes.
=^..^=
Posted using Proof of Brain
I agree that it's starting to come together and I really like Hive as it is now. There is a ton of development; some of them, like 3speak, are also building their own project structure to make themselves stand out.
Posted Using LeoFinance Beta
@taskmaster4450 it looks like some people know how to take advantage! :))
Wow, so much was done, but even more can be DONE. We have some work, and we should, as community, to start to promote a bit more aggresivelly, as I think the marketing is one of the issues. My question will be: are we ready for a multimillion onboarding and world fame?
i don't know anything
Posted Using LeoFinance Beta
Doesn't seem do evil - just really smart :) ... Honestly I hope everything waits to fall into place until I have a huge bag of Hive 🙏
This post has been manually curated by the VYB curation project
rePOSTed
It baffles me that so many people are incapable of grasping the relative value of Hive, the social network, and Hive, the token. Money simply facilitates commerce. Society is absolutely essential to every single one of us. The people on Hive, their interactions and speech, have incomparably more value than it's token.
Yet development focuses on financialization without fail, speech is censored and degraded, deprecated for curation rewards, and the failure of the community to grow ignored and disregarded. But we are the only reason Hive has any value whatsoever, just as society is the only thing that gives any money value.
Math is so much simpler than speech that I guess it is what folks are able to work with best, but if that neglect of society causes it to in turn neglect the token, working on financialization of the token will prove to be an utter waste of time.
We can all point to innumerable flaws with fiat, yet every good and service that exists is valued in terms of fiat by society. No matter how well or poorly Hive the token works, if a strong enough society depends on it, it will have value relative to that dependence.
I reckon focusing on the community and strengthening it will increase the financial value of Hive far more than any clever tricks of inflation or interest ever will. Particularly today, as censorship and duplicitous propaganda are increasingly inflicted on society, Hive's ability to prevent censorship and enable open debate to cut through deception enable it to provide existential value to not just we who are here today, but the entire world, all of whom are at varying levels of exigent risk from being deceived by parasitic and murderous overlords.
People can put up with the crappiest currency imaginable, such as Zimbabwean Dollars, if by doing so they can create and maintain a strong and mutually supportive society. There seems to be almost no recognition of this fact by people mesmerized by finance, and no matter what interest rates are doled out for HBD savings, the price of Hive is simply BTC's tail.
The real money isn't money at all. It's the people using it.
Enjoy your stash. Try to find a way to promote free speech and Hive's value to society while you do, and maybe it will be worth having in the long run. Without the community it won't.