You still haven't understood this?
They EARN in Hive and Hive Backed Dollars HBD by writing and posting.
I help them convert their earnings INTO BTC Lightning which they often move to private wallets like Muun or use Bitrefill and local services.
They ignore Nostr or Staker.news because the earning capacity there is paltry.
The exact opposite of what you're accusing me. I actually have to keep restocking my sats by converting Hive in larger amounts on Binance.
If they are earning who is paying?
Same mechanism which has kept Bitcoin going since 2009. Programmed inflation.
Hive's utility and the businesses many of us run using it provide the reason to hold and use the token. It is the world's only censorship resistant bulk text storage system.
How is Hive protocol governed? I tried to search around the links from their Twitter page unsuccessfully. Specifically looking for their inflation schedule and max supply. Also curious if they’re open source.
Hive is completly open source. It was forked from Steem after Justin Sun bought Steemit.
https://gitlab.syncad.com/hive
I'm looking for a decent explanation of governance but ultimately the White Paper is the source of truth. https://hive.io/whitepaper.pdf
Basically top 20 Witnesses produce blocks every 3 seconds. A backup roster of around 100 more witness produce the 21st block in each rotation.
Witness ranking is by votes according to the staked Hive (Hive Power) held by the voter. I’m witness 50 right now and that has taken me lots of work to earn community respect.
It takes consensus of 17 of the top 20 witnesses to change the code or core parameters. The HBD savings interest rate is a vote amongst witnesses and doesn't require a hard fork.
Thank you
Requires 17/20 top witnesses to change the code.
To become a top witness requires votes from staked coins.
HIVE is a centralised shitcoin parading as decentralised. It's all smoke and mirrors bro.
Thank you for the hours of study you clearly put into that opion! I presume you run a Bitcoin full node and a Lightning node yourself?
I will quickly shut down the witness node I run ranked 50th which pays me about sats 750,000 per month. Clearly those funds when converted to sats are an illusion and the multiple Bitcoins I’ve collected in cold storage over the last 4 years from working within Hive will evaporate at some point.
BTW my witness ranking comes because real people with a combined investment in Hive of 153,884,113,642 sats (1,538.84 BTC) from 220 individual accounts have voted for me. I’ve only been a witness for 4 months but the years I spent doing useful stuff on Hive built my reputation to a point that when I started a witness I picked up votes quite quickly.
Perhaps I should refuse the 133,000 sats per DAY the DAO pays me to run the various other services. This comes to me because people vote for my proposal in a similar way to the witnes position.
I’ll stop posting on Hive (where I typically make 166,000 sats per post or more, funnily enough someone gave me a single tip of 71,000 sats in addition to the payout I’ll get in 7 days).
This is what happens when a core protocol includes value exchange AND instead of giving all inflation to hardware operators, some of it goes elsewhere for things like dev work or content.
I just checked, my Lightning node made 95,000 sats routing last month. A high water mark for me. 26,000 sats is my monthly average over the last year. I presume you run a Bitcoin full node and a Lightning node yourself?
I’m glad you’re all so excited about 20 sat tips here. Have fun stacking those and building geek play things.
Once again I’ve written more than I should in response to an excessively dumb comment….. I’ll post it on Hive later and earn 150k sats :-)
Opinion…. Is there an edit button Nostr like we have on Hive (which obviously retains all prior versions too).
I’ve hypothecated 5% of my earnings on this post for you. If you want them. Obviously you’ll have to know that the sats you get in a zap came from a shitcoin.
