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RE: Why Hive is Perfect for Staking
I stake enough to have the resource credits I need to do the things I need to do on the network. That's it. The whole DPoS thing is really nothing but a popularity contest. Plus the fact that only 20 witnesses plus the rotating backup actually produces blocks, it concentrates too much power at the top, and most of those people are not really that active as far as voting and spreading their votes around. They primarily concentrate it with their other whale buddies and causes a huge centralization issue, has ever since the Steem days.
After seeing it from a different viewpoint as a Cosmos ecosystem validator and saw how the flaws were the same in both ecosystems, it's really not a great consensus mechanism. Just helps the rich get richer as with everything else and is nothing but a popularity contest. Sure the little guy can earn some crumbs here and there, but most of these tokens aren't worth a shit anyway, they are mostly all just vaporware. This is NOT the case however with proof of work systems, which is the superior consensus mechanism, hands down. The machines just turn on and run and do not care who has what and who is friends with who, it just does it's job and works.
Another reason I don't is because I hate the fact that people can just go in and see what you have, the transparency is far worse than Bitcoin or anything like that because well, hell, some of us use our actual names which is HORRIBLE OPSEC with cryptocurrencies. I can't say much because this account has basically been tied to my real world ID, another reason I go all into XMR. It's honestly none of anyone's business what I have, which is why much of my rewards end up in Monero. Someone shouldn't be viewed as 'trustworthy' or not based on the contents of their wallet, it needs to be judged by their content and their efforts to further the chain, which unfortunately really doesn't happen, and is a HUGE flaw in this ecosystem.
That's just my 2 satoshis on the subject. Take it as you will. I am only here these days to post my FPV drone videos.
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STOP THE ABUSE !DOOK STOP THE SMOKING !WEED STOP THE #BUILDAWHALEFARM #BUILDAWHALESCAM @GOGREENBUDDY !LOL 2
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STOP THE BUILDAWHALE SCAM FARM lol 832
#buildawhalescam buildawhalefarm stop the bad downvotes on HIve
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I'd say the only thing I agree with there is that I hate my financials being tied to my real world ID.
However, everything else you stated is visible on other chains, but you have to dig deep enough.
If you look on Bsc for example most of the big projects know each other and jerk each other off in similar ways. It's just the visuals are different is all.
Here is probably a little more transparent.
Not visible on Monero. Not even Chainalysis can trace it if you don't use one of their nodes. And then when FCMP gets implemented after it's testing phase, there isn't anyone seeing anything on that blockchain. Even the IRS can't admittedly trace it. Of course on transparent spy chains like ETH, BSC, Polygon, OP, SOL, etc as you are referring to can be traced. They are fully transparent blockchains that can be spied on and traced, so yeah they can all circle jerk each other as far as these projects go. And not sure how you don't think that Hive is nothing but a circle jerk, because that is all it is, lol.
All in all, proof of stake is all centralized garbage due to these issues. Again, proof of work is and will always be king because of this, all you have to do is turn on a machine and start mining or running a full node. These chains have actual working infrastructure behind it, not just a few nodes and most with admin keys that can change anything they want at any time, which makes those a HUGE risk. Most of these nodes ran by the same people like most of your PoS networks are. I mean BSC is literally ran by Binance. They control most if not all block producing validators, hence centralized shit.
You can agree or not, I could honestly care less what anyone in this industry thinks anymore, it is what it is. I have worked in enough crypto ecosystems developing and building infrastructure at this point that I know what I am talking about.