Demystifying HIVE is a series of bite-sized posts targeted to new Hivians and for people outside of the HIVE blockchain.
The purpose is to try and break down the many complexities of the HIVE blockchain, its acronyms, and the current facts and falsehoods associated with it.
I say ‘current’ because within 6 months some of the things I say may well no longer be relevant. It is an evolving experiment, and little remains static.
It's little wonder that the retention rate is abysmal given the huge learning curve a new person needs to endure. Without some guidance, most give up quite soon deeming it bewildering and over-complicated.
Other article's in this series:
Demystifying HIVE: Expectations
Demystifying HIVE: The Police Force
Demystifying HIVE: What are Witnesses?
Demystifying HIVE: Utilise your Voting Power
Demystifying HIVE: The Fear of Writing on HIVE
If you are looking to get rich quick, then leave, just leave.., the door is over there. Most of us joined for the money. It’s always about money.
Whenever I try and on-board someone the focus is always on the money. It was with me, 3 years ago and if you are new and reading this then I forgive you. I can write some shit, and earn some shit? Count me in!
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...'give us your money, give us your fucking money - Bob Geldolf (in denial)'...
HIVE is an Investment Platform. It’s not a cash generator. We all want to be rich.., well nearly all.
Who owns HIVE.., nobody, everybody? It's a stake-based platform, you buy shares in a company and it pays you dividends.
You buy HIVE and power it up, it pays you dividends; same thing, just in a different way.
If you don't want to invest, that's fine, it's not mandatory and nobody will try and con you into anything. Yes, you can earn here and spend zilch.
There is no one owner. We are all the owners of HIVE. There is no central CEO who smokes a fat cigar and tells all his grunts to work harder.
Source
...'forget this image, there is no central authority figure or owner. We ALL own the platform'...
On HIVE everything is transparent. I can look and see what you are doing. If you are posting, on a constant power-down, and shipping out all the HIVE, and HBD out then that’s perfectly fine.
You can do that, it’s your HIVE after all but…
As I mentioned, anyone can see anyone else’s activities. Go on..., have a spy and check on what I have been up to:
https://hivetasks.com/@slobberchops
It’s all there, and if you want to snoop on your own affairs then take away my name and add yours.
So what are you getting at then @slobberchops?
It's quite simple really. I am a large stakeholder on HIVE and I have a certain interest in its well-being. If you are new and taking ALL of it out as soon as you get it then don't expect any votes from me.
I won’t down-vote you for this behaviour; I will simply not give you any further support. That's just me, and my moralistic outlook on HIVE.
...'this large account is powering down and will likely sell all the HIVE. Why the fuck should I give this stakeholder my vote?'...
It's all about compromise. If you post something and get a reward of $10, then to put things simply, half of that ($5) will go to your wallet in 7 days. The other half will be split amongst all those nice kind people who voted for you.
OK... so some of them might, but there are other motivations for voting.
So now you have $5 in your wallet. Yes, you do, but it's then divided again. Half of it will end up as HP (HIVE Power) and the other half as HBD (Hive-Backed Dollars).
...'this wallet has contains some liquid (sellable) currency. Both HIVE tokens and Hive Backed Dollars (HBD) can be sold'...
The latter currency is liquid and can be sold, whereas HP needs to be powered down which takes 13 weeks. The wallet and it's different coins will likely need yet another post to explain. Nothing is easy around here but all of us have an IQ of greater than 120 right?
My Recommendation
Leave the HP to accumulate. If you want to see the cash in your bank account, then either sell the HBD or convert it to HIVE and then sell it. If you want to grow your investment then power it all up.
Confused? You should be but this article is not about how to sell any of them. That will need another 1000+ words, apologies for that. I never said this will be easy.
If you can get this into your head then we are making some progress.
Can you imagine if everyone powered down and took everything out what would happen? HIVE would be worth 1c per token or less in a very short period.
Once you have some HP then congratulations as you are now a stakeholder of HIVE. If you vote for another post, you will also gain a part of those 'other' 50% rewards.
Your slice will start as extremely low or maybe zero, but doing this will allow you to earn while you sleep. Does anyone NOT want to make money at 3.45 am in the morning while you are having a wet dream?
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...'people 'may' notice if you are showing some loyalty, and they will also 'may' notice if you are taking the money and doing a runner. We all make our choices in life'...
Don’t forget to vote for others. If you have squat all HP it doesn’t matter. Vote posts, don’t vote comments as you will not be able to make a difference (yet).
Next, I will explain how to turn that HBD or HIVE into 'real money' giving you the opportunity to visit McDonald's and to buy a 'real small fries'. Now if that isn't getting you excited then you need to visit Soapland.
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If you found this article so invigorating that you are now a positively googly-eyed, drooling lunatic with dripping saliva or even if you liked it just a bit, then please upvote, comment, rehive, engage me or all of these things.