RE: Elon Musk bought Twitter because he can't buy Hive, the last to try failed
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Well we have to be honest, if Musk wanted Hive, he could take if for a couple billions even if the price ran up.
But then buying up the HIVE still wouldnt give him control of the network since he would have no witnesses and have to wait 30 days for his powered up HIVE to have governance. Of course, the witnesses could put in the ultimately poison pill.
So much interesting stuff. The reality is Hive is so far off the radar, nobody like Musk even knows we are around.
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Yea that's true. But who knows comes ten years to come to this time, musk can Decide to give hive a try.
Perhaps when the price jumps up to captivate Him
Hive is more than about price. And it is much more expansive than just Twitter. We are a Defi platform, gaming, and a host of other things.
While still small, we are going in a lot of directions. This could explode like people never imagine.
It is just a matter of getting some things in place.
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I'd argue the governance needs fixing. There needs to be a higher bar for the amount of stake required to take control of the network. For example each user can only vote for 15 witness, or be able to vote for 15 witness but every additional witness reduces the amount of vote distributed between them. To my knowledge if someone buys enough coins to get someone in the top 20 single handily, then they can get everyone they want in the top 20 practically.. Of course still a large economic barrier to overcome to begin with.
I agree that are things that can be discussed. Why not limit the amount of votes to 10, with 20 consensus? Then one person can only influence, at most, half of the top 20.
I dont know the math behind it all since I never looked at it. But there has to be a way to gamify it in a way to better secure it.
Like you said, raising the bar to control the network. Whatever we can do on that end of things should be looked at.
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Reducing the number of votes is urgent, it makes no sense that we can vote for more people than there are witnesses, 30 votes and 20 block producers make no sense.
Actually I think the number of block producers should grow, maybe from 20 to 60, so if we keep 30 votes per account still one person can only control half the witnesses.
The other option is to cut down from 30 votes to 15, as a small witness myself that would probably hurt me, because most of the votes for me are "spare votes", but that is a price I am more than happy to pay to guarantee not one person can buy HIVE and choose 20 block producers plus 10 runner up witnesses.