@ganjafarmer recently wrote a post asking if HIVE was over. What started as reply to his post grew in size to warrant a post of its own. So here it is...
Is HIVE over?
There is a community here so it is hard to predict if HIVE will ever be over, however it is my feeling that since the fork it is safe to say that the experiment, as Dan Latimer defined STEEM, has proven to be broken.
The STEEM takeover showed the vulnerability of the Proof of Stake system. If one sorts through my bags they will find some ETH, which may seem a contradiction from what was just written. My logic of holding ETH is based on the belief that Wall St. now owns ETH, yet Wall St. will want to see ETH's value increase. My HODLing strategy is just me coming along for the ride. In fact all my Dolphin tokens found their way to ETH after the fork. The ROI has been fabulous to say the least.
In my mind the HIVE/STEEM fork was not done with the same Wall St. principle. It was about power and control of the majority of top witnesses at the time. They did not care if the price of the token went down, only that they would not loose their position to mint more of them. Their propaganda even turned Sun's atomic swap idea into some kind of sinister plot instead of the useful technology it is; employed, even, in BTC's Lightning Network.
Bottom line is, how could anyone think that a fork could be a good thing for the average user (although the forked funds were a nice parting gift to buy more ETH)?
There was the Bot Debate that raged on STEEM for years. How could we have Proof of Brain if bots were doing the voting? Well it has recently taken a more dangerous lurch. AI can now generate the posts which the bots now vote on. It is my suspicion that many regular posters are now using ChatGPT to do the leg work. This will make the social media aspect of HIVE more than broken but, instead, a huge joke.
HIVE is, and will likely continue to be, a wonderful utility token to be used in gaming and other projects, so it will likely have a future of some sort. Yet its days of a blockchain Facebook are numbered in my opinion.
Over? Maybe not. Broken beyond repair? Yes, though perhaps this has been the case from its first release, so let's just call it terminally flawed.
