RE: Retrospect
You are viewing a single comment's thread:
Hey! I love reading your posts, I'm new on Hive and very little experience with crypto. I have a question, but please don't get me wrong :) I'm a layman here, I'm not complaining about the system fairness, I know this bla bla bla and it's not me....
It only takes one person with a lot of stake upvoting other people with less stake for decentralization to occur.
About decentralization, if reward distribution is 50/50 author/curator, doesn't this one person always keeps his share size of the network? The whale will always be the whale? The control of the chain will always be pretty much in the same hands? What if 2 or 3 big whales decide to sell all to one person?
0
0
0.000
I would answer this question with a question.
Will every Bitcoin whale the be same as they are now in 10 years?
There's very little inflation, thus all the whales will be the same, yeah?
Imagine one person held all the Hive tokens (400M)
This one person starts upvoting someone else for 50/50 curation.
After the number of coins doubles (800M), the main holder has 600M and the other guy has 200M. The main stake holder went from 100% stake in the network to 75% stake in the network. See how that works? Our percentage of stake in the network goes down even with 50/50 voting. In fact the 50/50 aspect has proven to help decentralization. We used to do 75/25 and it wasn't as good. People who upvote others like to get a kickback.
Got it! Thank you for your answer!