RE: Comparing Hive & BTC: Both Hive's 'Proof Of Brain' & Bitcoin's 'Proof of Work' Reward Puzzle Solving But Hive Wins!
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Thanks for the comparative analysis, this is a true gem. I now have a much better understanding of diverse blockchains, how they work and how they can be utilized at a fundamental level.
You point out how the change in price can have a more detrimental impact on the Hive chain compared to Bitcoin. I suspect that in the future this will be mollified by interlinking different blockchains so as to cross connect functions and functionality. This is similar to the early evolution of digital systems which is how we have gotten to where we are today.
I really like how you express your aims at the end of this post. It is gratifying to know that there are people out there making such efforts. As I hope you know from some of our exchanges, I have been advocating for the advent of a new approach in communities here on Hive. The efforts of individuals to advance the system are to be applauded however if we can establish a system for creating working teams within communities we gain the power to amplify those efforts exponentially. Of course this would also need a means of coordinating between teams so that projects could be linked and to prevent duplication of effort.
As always thanks for the insight.
Blessed be
Ahoy! You are welcome.
I'm not sure of the effects of price changes on Hive user rewards is really a problem as in theory, the higher the price, the more users come here, the more they buy into the token and so the rewards pool increases. I don't have all the data, but it's actually not something that people really complain about. It's just theoretically more of an issue than with BTC. The real issue with Hive vs. BTC from an investment standpoint is that BTC is deflationary, whereas Hive is inflationary.. So if there were to be no activity on the Hive blockchain for some reason and no-one buying the tokens, then the price would drop down due to the new tokens being minted. Bitcoin would trend more in the opposite direction because it is deflationary.
I'm currently working on a book about ethical wealth and it includes some parts about decentralisation and Decentralised Autonomous Communities/Corporations. It's possible to use blockchains to really empower groups of people, but we aren't quite there yet!
Thanks for your comment. Wishing you well.
Now I'm really intrigued. As a political ethicist I can hardly wait to hear your views on Ethical Wealth.
As for empowering groups I suspect we are closer than you might think. @taskmaster4450 (or you, I can't remember which) just recently posted regarding the development of SIP's for funding research (the broader potential is staggering). In addition I am just starting to try and establish a project with local university students and city government to get involved with the CityCoin blockchain. My idea is to get the students involved in Hive and start working on connecting Hive ecosystem to the social networking of CityCoin. This will vastly improve onboarding for Hive and greatly expand opportunities for newer forms of wealth creation. In addition it will give us a mechanism to introduce sound and objective ethical principles into our social/political/economic system at a fundamental (theoretical) level.
Good luck with the book.
Blessed be.
Excellent, I look forwards to sharing my work when it is done. I currently need a bit of time to complete it in draft form. I have previously written an unfinished book that is over 2000 pages long and is not yet finished - so this time I have a solid plan to keep things short and precise ;)
When I was referring to empowering groups, I was thinking of technology that is designed to facilitate co-operation in a totally transparent and as fair a way as possible. How well this is achieved is mostly down to a combination of algorithm design, iteration and careful assessment of feedback (plus imagination, empathy and creativity). I haven't have the time in the day to research this topic in depth yet - but I know there are lots of people working on it.
I hadn't heard of citycoin, but yes, I can see what you are pointing to there. Being able to sync up local city projects with a reward pool on hive and a feedback system using blogging could be epic!
Thanks for sharing - I'm excited to see where this all goes too!