You see the direct correlation between the two graphs, don't you?
This is the reality of HIVE: more people extracting than including... and this has been the case since its ATH.
What can be done to improve this? Frankly, I can't think of anything other than trying to attract and keep more users, which we continually fail at.
Obviously, it's not an easy task to accomplish without a single goal as a community.
Perhaps it's a direct effect of being highly decentralized. There are no hard and fast rules here; everyone can do whatever they want as long as we maintain mutual respect. But, what would happen if we agreed one day and decided not to power down for a while and instead maintain the power up?
I mean, it wouldn't be a bad idea to experiment with this and, I don't know, maybe limiting the power down for, say, a week might have its effect...
Would the price be able to notice it and react upwards?
I think so...
If the price, consequently, rises steadily over that time, wouldn't that be newsworthy "out there"?
Wouldn't we become more visible to the market?
I'm raising the possibility of promoting regular shortage periods, perhaps regulated by some kind of consensus based on the price of our precious asset... Would that be reasonable?
Could it even be considered "democratic"?
I think it would be a good experiment to conduct, as a study of the community's power to maintain its sustainability...
Right now, I can think of several ways to implement this "experiment"... I'll name a few, perhaps pointless but debatable:
- The blockchain network could regulate the possibility or capacity of performing Power Downs based on price (it would be something analogous to adjusting the mining difficulty of Bitcoin itself, I imagine...)
- Should some kind of power down schedule be agreed upon... by witness votes, for example? Or by popular consensus?
- Should the power down periods be temporarily increased, from 13 weeks to... I don't know, 20 weeks or 30 weeks, making the released stake smaller... It should also be something that automatically manages the blockchain code based on price.
- etc...
There are many other possibilities we could discuss and conclude on one that's truly "practical"...
Perhaps the first step should be to determine what HIVE price should be that would free up more or less power down capacity from the Blockchain...
Either way, I think it would be a good experiment to conduct...
I don't know if any HIVE developer has ever considered it...
@blocktrades maybe?
What do you think?