RE: Hive Inflation for July 2024 | Running Hot for a Second Months in a Row!

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RE: Hive Inflation for July 2024 | Running Hot for a Second Months in a Row!

sircork in Hive Statistics • 7 months ago (edited)

Speaking as a partner in the @PolleNation witness, I can tell you that when we discussed how to initially decide our interest rate setting, we both agreed that 20% was perhaps too high. We ended up landing on 15%, because we wanted to set an example of being a bit lower.

But we also know that if we set it too low, it would be too far out of line with the other witnesses and wouldn't actually affect much mathematically but could signal the wrong intentions about our faith in Hive to the stake driven investor constituents of the community.

It would take a very difficult to achieve consensus to get it lower across all the witnesses, but we have tried to set a bit of a precedent with our opting to be one of the lower ones.

7 months ago in Hive Statistics by sircork

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nonameslefttouse 7 months ago (edited)

Fun fact: When there was talk about raising the rate to 20%, it was said to be more of a temporary promotional offer to get people excited about HBD. When there was talk about lowering the rate including people signaling a lower rate, some started threatening to dump HBD, while others encouraged "The Hive Community" to shift witness votes around, favoring those signaling 20%, and insisting those signaling any less do not know what they're doing.

Then, later, for a few days it dropped to 19%, and again the people panicked. Reacting much in the same way. Profits now, f later.

If you need proof, it's all recorded on a blockchain somewhere. The process was automated and several contributed. There were even people saying HP holders are just jealous of the returns, so that's why they want to lower the rate. All kinds of petty, superficial nonsense.

So based on lessons from history, if you want to buy approval, set it at 20%, especially if you're not too concerned about the future. Some people will love you for that. The system is designed to be flexible, especially in the case of emergencies. If you want to be flexible, chances are you might be bending over backwards for approval and might even lose votes if you make a move.

I was just reading some other comments here from starkerz. Sounds like fun. I recall a time I was talking to elmerlin, long time ago. Him and I both saw this coming.

Good times! Have fun Hive!

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sircork 7 months ago

I don't need proof, hehe, first of all, I would take your esteemed word for it, and second of all, I know these roads, Neo, I know where they go. Every.Single.Time.

Which is why when I suggested 15% to Witty as my partner in @PolleNation, he agreed 20 is probably too high and also that if we went any lower, it might just end up being committing witnecide before we even got off the ground.

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nonameslefttouse 7 months ago

One thing I've noticed traveling down those roads: It's really difficult to get a ride when you're holding the sign that reads, "You're going nowhere, fast."

They'll just drive right past. Straight over that cliff...

In life. In general. That's just how it is, I guess.

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sircork 7 months ago

You've seen a little of my history around here, right? From my first journey and my, how do you say it, um, <sarcasm>boundless optimism</sarcasm> about so many people and things back then? You are preaching to the choir boy, for sure.

I have a better outlook this time. Maybe it's because in hindsight so many people finally seem to have caught on to all the things I was right about, ahead of my time. So this time, I find, I have enjoyed a little more acceptance. I also got older and a little bit nicer.

A little bit...

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nonameslefttouse 7 months ago

I've grown to be quite patient. Don't hold grudges. Don't really expect anyone to give a shit about what I have to say. Now if I could just learn how to fit in and follow the herd.

I joke.

But yeah. Friendly heads-up: Get some popcorn.

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sircork 7 months ago

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