How is the School/Pod doing?
Hey everyone!
It has been a while since I have been able to pay much attention to the broader concept of growth on Hive.
It does seem like we still have a very steep pyramid of power with a very small percentage of people holding a very large majority of the HP on the circuit.
While this will always be true in any economics. Is this really a healthy things to have this condition to such a vast degree?
Let me explain why I think it is bad...
I have been on Hive for something like 8 years now I think? Everyone kept saying that it was still early days, "early adoption" and the like. Maybe some people will still be saying that we are STILL in early adoption but Facebook went from 1 million to 1 billion MAUs (Monthly Active Users) in the span of 8 years.
We obviously have some challenges on Hive and if we really want the platform to work... we should work on it.
Now... my sentiments probably does not mean much because I do not hold much HP. I was a Dolphin, but due to economic reasons, I need to cash out and have been struggling to get back into it again.
My vote does not mean much and in the economy and power of Hive, unless someone with real voting power sees this post and gives it support, this post will just be a tiny squeek that has little impact. In fact, if 1,000 users or even 10,000 users saw and interacted with this post, it would not matter... Unless the top 500 users see and support the post would not gain much value.
But worse, there is not a 10,000 users that CAN discover and interact with my post!
If we look at HP stats right now, these are the approximate stats:
A person with a mere 150HP is of the top 23,000 of HP stake users.
A person with around 500HP is of the top 12,000 of HP stake users.
A person with 1000HP exactly is at the top 8,000 of HP stake users.
I have just under 2500HP and I am of the top 4,200 of HP stake users.
Let's pause there. At my "insignificant" level, there are only around 4,000 users on the whole Hive network with more HP than me. That number is incredibly low.
Now the scale after this point gets steeper and steeper. I have a vote of around $0.02 according to https://vote.aliento.blog/.
If I double it to 5000HP, then the vote level is $0.046 and they are the top 2500 of users.
Let's double that to 10,000HP, they have a $0.091 vote... almost 10c... they are the top 1545 of Hive users.
10c is not financially significant. Only 1545 users are capable of 10c? Sounds bad.
But wait... $1 votes... are possible... that is at 110,000HP that $1 vote kicks in. You are the top 209 users. Here at least are 200 odd people who can make a vote and that will buy me a cold drink. Right?
Nope. The reality is that the voting power on Hive is capable of far bigger payouts. But it is not even on a 200 user basis. The top 50th gives a $5 upvote. The top 10th is capable of a $19 vote and the top 3 have $107, $130 and $148 respectively.
From $10+ votes people have massive life-changing power at the click of a button.
Now... please understand. I have nothing against the super-elite whales with the power to do $100+ votes.
My point is that we should be aiming for a platform that has over 1 million active users which has hundreds of thousands of members who can give 1c votes and tens of thousands who can give 10c votes.
We need to make the circle bigger and finding a systemic method to give people that sort of pull, retention and discipline would be key to expand the platform.
Anyway... just my two cents and my idle thoughts.
I have been running the Busy Bees for around 3 years now or 4... I cannot remember.
I will do my best to build a crew of active users that retain the power to make small but significant changes. That would make me happy to see that 10c vote group expand from the 1500 members to 50,000 members. That would be awesome!
Thank you for reading!
Cheers!
@zakludick
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Right now, my vote is worth around $0.13. I upvoted this at 50% because I have been busy, and my vote power has been drained to about 60%, and I don't know how much more I'll be doing today when I'm already looking at 48 hours to recharge to 100% if I do nothing.
Pareto distribution seems to be an inevitable emergent phenomenon, so the issue isn't who is at the top, but how do we bring more in? Some people just won't vibe with the idea of a blog network and game apps. Some will lose interest if they don't get rich quick. Some will fall for scams. Some will try to scam, and get slapped down. We're already looking at a form of the 80/20 rule just to see who participates at all, and then the principle applies again to those who remain active.
Finding more epople willing to survive the first condition and live with the second is not easy. Are we better off broadcasting the platform, or narrowcasting to specific communities more likely to want a censorship-resistant system with content ownership secured cryptographically?
Indeed. The concept that posts and engagements can make money is cool... But I don't think the level that most people get to is enough to do hold retention all on its own.
That censorship-resistant system on its own is probably a better draw card.
The hard part is getting the word out to potential new users and getting them "locked in". I think this is where communities score. If I hadn't found some of the RPG/creative writing/worldbuilding groups early on, I probably wouldn't have stayed.
But the censorship resistance angle is one which could well gain strong resonance here in the UK and in Europe, where governments are working to implement the kinds of monitoring and censorship that puts North Korea to shame. I still think we need to layer that with a few apps that have the kind of real world utility that non-Hivers want to use them.
Not actually mentioning the crypto angle at all seems to bear more fruit these days, I think too many people have fallen for the legacy financial sector's relentless propaganda that crypto is just a scam.
Indeed. I think the real-world apps thing might be huge for onboarding and retention. I can think of quite a few but who would program and build such apps?
And yeah, leaving the crypto part out seems best.
We've got some really talented developers in Hive, so I think the hard part is going to be getting the word out widely enough to gain mass adoption, or perhaps to find ways to get an app viral so people in the wider world start talking about it.
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