RE: A possible improvement for encouraging HIVE Growth and Participation from Contests <3
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My thoughts on extration + the stigma of cashing out. Not directed at you, the post above or anyone. Just my conclusion based on recent content speaking on such.
Personally I'm not a big fan on telling others what to do with their funds. Nor am I a big fan in not voting a post that I otherwise would of voted based on an insinuation and/or practice of someone who cashes out/ powers up/ holds liquid. I understand why and don't fault those who vote based on such dynamics. My dynamics for voting content; If a post brings value for whatever reason then that warrants my vote. What the author does with their funds is not much of my business. Its good to be informed so we can make better decisions but lets not shame reasonable actions like cashing out. We all own the reward pool but funds that reach someones wallet is no longer part of the community reward pool as it has already been dispensed to its then owner. The owner of such can do what they want with their funds.
In regards to promotional votes; if a post follows the rules it deserves the vote regardless of what the Author does with the rewards that hits their wallet. Anything else is a breach of contract. What I think needs to change is this big negative stigma that gets attached to those who cash out their earnings. Cashing out is to be expected. I would argue that once WEB2 flocks here, cashing out will become the norm. Would I rather see power ups and held Hive? Of course and I bet those with hoards of liquid Hive waiting to be placed on market during the next pump hope so as well. I believe the simple rule of "If you shipped Hive off chain in the last 30 days you can't participate in this challenge" might be a good deterrent to weed out those who want to only participate to increase their fiat wallets. Tag along the rules must have a reputation of XX or above so extractors don't just mosey in with new accounts after extracting.
There is many sides to the coin with who are getting called extractors. For example some call those who turn their gaming rewards into HIVE extractors, others say these are good Hivens who are increasing their stake. Some think that HIVE earned from post creation spent on the apps/projects here on Hive are extractors because their accounts show less held HIVE then earned. The term is used too loosely. In my opinion there is a clear difference between someone who sole action is shipping every last hive they earn off chain compared to someone who trades it locally within the vast network of opportunity here on Hive. Shifting of Value, for example (1) DEC to HIVE or (2) HIVE to DEC should not be seen as extracting but instead be seen as Hive creating a self sustaining economy.
A quote from myself from another similar post
Traded Hive that goes towards apps or a business on HIVE is not value extracted but value shifted within the Blockchain. This should be encourage as it promotes the blockchains self sustainability/ helps grow the blockchains apps which in turn grows the chain as a whole which benefits everyone.
I agree with you 100%. The post itself is the value. Otherwise, someone could put $1M into hive, make spam posts and get huge upvotes. Having high HP already brings several benefits by itself.
@olaf.gui I agree with you about the Post being the value... unless it is a Contest Entry... Because that's what it is at that point.
It will receive upvotes based on the merit of the post - but the big upvotes they are chasing... that's the key.
No one should "expect" an upvote just because they enter... just like we shouldn't "expect" people to power up 100% of their Rewards...
Contest Rewards (big upvotes) are always at the discretion of the Curator and never guaranteed.
With that being said: I am 100% for encouraging everyone to participate in every contest, in every community...
It is up to the Community to set their Standards and Expectations - or else we cannot be frustrated with the outcome 🤷♂
Just for clarification, in my own personal opinion, I would totally be fine with contestants keeping like 10%, 20% or whatever, from each post to power up.
Withdrawing 100% of the Rewards, 100% of the time... for 2+ Yeears? They're not here for the "Community". They're here for $$ - and that's ok.
It's up to us to make the change, if we want to see a change and furthermore it is also on us... to provide a welcoming community that they want to be a part of 🤗
Thank you for reading and your comment! I appreciate you Olaf!
@rentmoney - I agree with you and you are essentially saying what I am saying 😊
On a point by point breakdown:
You're absolutely right - no one should be telling people what to do with their funds.
While I can't speak for others, in my posts I have been very clear on what I define as "extraction": Accounts that have powered down 100% of every author reward, ever... and shipped them off to an exchange like Binance.
But... this is not to say they wouldn't be eligible for current and future contests. Rather, by posting a "Contest Mission Statement" and implementing things like I suggested, we would encourage them in their future behavior... rather than bashing them for past behaviors.
Remember, no one is "guaranteed an upvote" just for participating - that's solely at the discretion of the Curation Team.
We should, as individual communities and entities hosting these contests make them as inclusive as possible - yet encourage those who enter to become part of the community, rather than using it as a "Meal Ticket".
I appreciate you Rentmoney, thank you for reading and commenting :)
Have a great day!
Yes, when reading your post before I commented I concluded your post is in-line with allot of the same thoughts I decided to share in my comment. Which might be the reason I felt the comment section of this specific OP might be a good place to share my opinion on such things. Showing a little support to those who might be labeled as extractors that aren't is important. Cashing out shouldn't be frowned upon (life happens); extracting for the sake of extracting (I don't imagine) is an action that helps anyone including the individual that might be doing it. You are also appreciated. Thanks for creating the thought provoking post.
Oh I know and I agree with the rule. Standards need to be in place.
Absolutely - and we can't expect anyone to know that... unless we make it very clear.
I truly want more people to discover Hive and the Front Ends like Peak'd, Ecency, Splintertalk, InLeo and others :)