Too Much HIVE in the Hive DAO/SPS/HFT

in hive-174578 •  3 years ago 

This proposal is to burn 821 Hive Dollars (HBD) per day by transferring it from the Decentralized HIVE Fund (DHF) to @null. When the Proposal System was created during hard fork 21 in August 2019 there was significantly less funding and 821 HBD represents half the recent daily increase.

Please support the proposal here: https://peakd.com/me/proposals/83

FACTS

  • 4450 HBD is dripping into the Decentralized Hive Fund each day, almost 60% more than before the STEEM/HIVE fork!
  • @steem.dao wallet has 445,051 HBD and 83,370,205 HIVE which is slowly being converted into more HBD for the DAO
  • the 83 million HIVE and 164000 of the HBD represent Steemit's Stake and those accounts which supported Justin Sun's witness takeover, this currency injection is new to the Decentralized Hive Fund
  • 821 is half the difference between the additional funds injected into the Proposal system as a result of the hard fork


BURN 2.png

Why Burn It?

- Reduce Additional Un-Planned Funding✔️

Roughly 3240 unspent HBD is accumulating in the DHF per day! If nothing changes after one year there will be over 1.628 million HBD in the DHF, in 5 years this could be as high as 6.358 million! If HIVE increases in value, it could be considerably more, as people share post payouts with the DHF, it will further inflate. Do we really need to add to this at such a high rate? This proposal will reduce the funding by less than 20% after it was just increased by nearly 60%!

- HIVE DECENTRALIZED FUND IS ALREADY WELL FUNDED ✔️

A large fund can be exploited; passing a proposal that may or may not build value is difficult, burning limits waste and increases value through scarcity. There is 445k HBD in the DAO, plus 83 million HIVE to be added if we don't act now. Much of these funds were never intended to support community initiatives. A tighter budget ensures only the most beneficial projects are passed.

- A STRONG & RESILIENT COMMUNITY BLOCKCHAIN ✔️

What makes us think that 100% of the additional 60% of funds flowing into the DAO (from Steemit and Justin's supporters) should be used for community development? This was not the intention of the people who supported Justin Sun or Steemit Inc. We have a strong and resilient community proven by recent events and don't need this excessive funding, burn half the difference!

VOTE TO BURN 821 HBD/DAY! ✔️

https://peakd.com/me/proposals/83

It won't cost you a thing

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burn! Burn! BURN!!! If @justinsunsteemit can't #hive it, @null should. 🔥🔥🔥🔥

You had better believe it

Gooday to you.

i'm just checking in here occasionally while my Steem is powering down, and upvoting here and there.

See you on the other side perhaps
Namaste
Atma

ps. Voted

Thanks for the love!

Likewise.

Love is all we need!

Hi there

I've been reading through many comments related to new hive chain and I've seen your comment too. Many users are being torn, however majority seem to be moving to new hive.

Are you fully moving there or will you stay on both chains? Just curious. I'm trying to figure out what to do myself.

Hey @creativeblue. Thank you for asking. I appreciate you.

My intention is to move completely. All my content here on Steem is duplicated there, and much less likely to be censored. Also, i vehemently disagree with what JS did to the chain with the assistance of some crypto exchanges, so on principal alone i do not wish to support this platform anymore.

Having said that, for the time being I will continue to visit occasionally (as you have noticed) while my SP is powering down, to make a few votes and comments.

After that (in about 3 months - unless Steem makes a new hardfork to reduce the power down time) i may choose to come here VERY occasionally when i have some critical information to share, as i would not want those who choose to stay only here to miss that. For example, a post like this: https://steempeak.com/powerhousecreatives/@atma.love/a-solution-to-all-world-problems-truth-behind-cornoavirus (which is the only post i've made here since the split).

Namaste
Atma

Big Thx for your reply. I think i will stick around on both chains for time being.

I also figured that you may find this post interesting and worth your time:
https://steemit.com/hive-175254/@project.hope/project-hope-curation-trail-on-both-chains-steem-and-new-hive

It's post published by good friend of mine and I'm helping him to promote their curation trail.

i may have already told you on hive, but i joined the curation trail here on steem while i'm powering down