Hello SPIers, today we talk about the DHF and more specifically for return proposal. I think alot of people of never heard of this are have heard of it and dont really know what it is.
What is the Return Proposal?
In the simplest terms, the amount of HP being voted on the return proposal is the minimum amount a proposal asking for funding has to get, to get funded.
There is currently 35.4M HIVE POWER voted on the return proposal, this means anyone asking for funding needs to get at least 35.4M HIVE POWER in support/votes to get funded.
The DHF (Decentralized HIVE Fund)
The DHF was created to fund the expansion, innovation and promotion of the HIVE blockchain. On paper, it's a really good idea. If someone thinks they can add value to the blockchain, they can create a good plan, roadmap and show how their idea will benefit the blockchain, they are welcome to write a proposal and seek funding. If enough people with enough HP agree and vote on that proposal, anyone could get funded.
Sadly, abuse is always afoot when free money is being offered
I dont want to step on anyone's toes but why does Splinterlands get $2777 for 180 days for a cool $500k. Why are we paying $85 a day for 354 days for a Pinmapple map thats basically a map showing where all our dead HIVE users are from? $30K funding a year for a website that costs $100 a year to host seems expensive. Maybe someone is working on it "full-time". I could pick many more, at least 5-6 more but HIVE a small blockchain and chatting shit can seem personal when it's really just about the numbers so 2 examples is enough.
How do most funded proposals add value back in HIVE? I could go on and on. I've deleted about 300 words from this post because my views are not of everyone thats is invested with SPI but why are we funding 5-6-year for-profit projects that have been losing ground for 4 years already? Empty promises and sheep that follow.
We come to HIVE for the freedom it offers and then join a cult and become a follower. We pay to keep the lights on for a few for-profit projects and they collect the profits. Sounds like "too big to fail". Splinterlands has the potential but they've already sold millions of dollars worth of NFT gaming cards, so what's $500k going to do for them? Let them create and sell a new deck are some new megaical space land are something?
The DHF is decentralized yes but how decentralized is something when there is a small userbase and we have whales that control millions of HIVE working together? Blocktrades controls a 25M HP vote by itself. Not saying they abuse, just pointing out that 1 person has that influence. You rub my back and I'll rub your yours between friends is harmless but if you both own millions of HIVE and have a large influence over people, it's not so harmless and becomes very grey but it's manipulation no question.
How to make $210k a day from the DHF!
The current cost to buy 35M HIVE is $6.5M. Someone could spend $6.5M on HIVE, make proposal to suck HIVE dry and collect $210k per day (current unused DFH daily budget) for 31 days to recoup their money. After that, they could just keep collecting $210k per day. The use 10-20% of the money to buy more HIVE each day to ensure their proposal is always getting funded with a massive self vote.
There you guys, it would cost $6.5 million to break HIVE, lol
HIVE's total marketcap is $85M and the DHF daily budget is $230k per day, we currently pay out $20k a day to proposals. To give you an idea of how fooked the DHF is, if it paid out the max amount for 1 year, it would pay out $85M which is the same as the current marketcap.
Use your HP and vote!
The main difference between whales and us plebs is whales are very aware of what is happening with HIVE and they use their HP. Us plebs with a few thousand are less HIVE POWER dont care so much about voting on witnesses are proposals because whats the point? Right?
WRONG!! Plebs outnumber whales by a mile and together we have a voice.
We should (I think) make it harder to get HIVE funding.
Some numbers, even if they have no impact can speak louder than others and whales see these numbers. To give an example of whales vs the people
Hivewatchers/Spaminator Proposal has a vote value of 40M HP from 200 users
Return Proposal has a vote value of 35M HP from 704 users
It's easy to see if 1 user equalled 1 vote, this project would not be funded and many others as well but its not that way so what can we do?
Go check it out!!
Im sorry if im coming off as trying to get you to vote. You, honestly do you. I personally just dont like the idea that for-profit projects that are failing on their own are asking for a handout. I can think of 10 great ideas that would take money off HIVE to invest with the goal of consistently buying back HIVE to burn with profits. I mean, I wouldn't even be that hard and we could burn millions of HIVE a year if something were well funded.
My aim for the post is more to make people aware of the return proposal than anything. I think alot of people are not aware of it and we're paying for some crazy stuff. I've not even spoken of the HIVE-sponsored rally car are digging water wells in Ghana through the oddly named "value plan".
Anyways, I hope a few people that are seeing this post are learning about the return proposal for the first time. Maybe you've heard about it but never knew what it was alot about.
Thanks for taking the time to check out this post today.
Getting Rich Slowly from June 2019
| Token Name | Main Account | Link to hive-engine |
|---|---|---|
| SPI token | @spinvest | SPI |
| LBI token | @lbi-token | LBI |
| Top XV token | @spinvest | XV |
| Eddie Earners | @eddie-earner | EDS |
| EDS miners | @eddie-earner | EDSM |
| EDS mini miners | @eddie-earner | EDSMM |
| EDS-vote | @eds-vote | n/a |
| EDS DOLLAR | @eds-d | EDSD |
| DAB token | @dailydab | DAB |
| DBOND token | @dailydab | DBOND |
| RUG token | @rugem | RUG |
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