Proofofbrain Infighting And POB Price Decline: Correlation or Causality?
I have been a huge fan of the Proofofbrain tribe since its inception. But recently there have been two things going on that have gotten me concerned.
Drama and Infighting
I have not experienced the level of drama that is currently going on in Proofofbrain with any other community or tribe. It all seems to stem from a split of opinions about auto-voting, circle-jerk voting, etc. Most of the concerns go back to the idea that curation on POB should be 100% manual and that auto-voting is bad.
I'm a small fish with just over 1000 POB staked and I do all manual curation, so I really don't have a dog in the fight. But I think the fighting is hurting the community and the price of POB.
Price Decline of POB
One of the things I loved about POB at the beginning was how the price just kept going up and up and up. Combined with a very high curation return made it a very desirable token to stake.
But that all started changing in late June, and POB price has been on a steady decline since mid-July. POB had hit 2 HIVE and is now trading at under 0.6 HIVE.
Not To Confuse Correlation with Causality
It would be easy to dismiss this drop as just part of the bigger crypto decline of the past month. Certainly the first drop in late June corresponds to the overall crypto dump.
But while most other cryptos have somewhat stabilized, POB has been nose diving for the last week.
What Might Be The Causality?
I suspect that the fighting and various proposals are pushing some people out of the community.
I've read some of the posts from people who have invested in POB who are now being told they can't do what they want with their POB stake - i.e., automated curation. I can see these big money players saying "Forget it" and dumping their stakes.
And it might not just be investors. DEVs who may not have much interest in blogging and manual curation could be bailing. I still remember the day I opened up Hive-Engine to see that POB was down nearly 50% overnight because one of the DEVs dumped his tokens.
All that bailing is putting downward pressure on POB prices and we can see the results - plummeting POB prices.
Can't We All Get Along?
I understand that there is legitimate debate about how POB curation should be conducted. It is ProofofBrain after all. But it does no one any good to be stirring up so much angst in the community. Downvote wars. People writing posts calling out other posters. Drama drama drama.
Maybe all this drama and in-fighting will result in a stronger and more sustainable community.
I hope so, because right now we are all casualties of this unpleasant causality.
I decided to avoid the drama too. If I see the post is specifically about it, I just decide to stop reading since I don't really want to take a side. I would also prefer it if people could work things out.
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Good strategy. !PIZZA
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No doubt the drama has really made some people lose the vibes and good energy that the community started with.
Having a positive energy around here will be a good thing to put into consideration. Dramas are also normal but when you go too far, it's not good for either sides.
!LUV
Hopefully we all can heal from the past and focus more on the future without the dramas.
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Yep, all organizations have drama and politics.
Exactly. Just don't take things too personal and always try to keep your positive energy intact.
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!PIZZA
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Two POB popular posters had a dispute between them. One of them rage quit over it. The other one compared Hive to Nazi Germany ad nauseum. He was protected from malicious flagging and then the flagger made a scathing post about POB.
BTC has obituaries, why not POB? Remember, this is the early stages of POB. Half of POB that will ever exist will be issued in the first four years. The other half in more than a hundred years. So, we have high inflation now. The 15 cent price might be a correction rather than a temporary slump at least for a few months.
So that 12.5% is issued in the first year. The next year we will have 100% inflation and right now it is higher!
So I need to get mine while the getting is good!
!PIZZA
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I don't read the drama posts. It's too depressing. First Steem, then Hive and now POB. Bullies telling others what they can/can't do. There's enough of that in every day life.
I've staked most of my proofofbrain tokens but, to be honest, I don't really see the point of it. It was fun at first, seeing where it could go and then people's egos got involved. I've pretty much written it off now but hope I'm wrong to do so. 😊
!PIZZA
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I always knew you were a smart woman! !PIZZA
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POB is not the only alt-coin on the ropes. LEO, CTP, BHT and a few others are hurting.
The problem is likely a combination of too many generic coins and tag spam .
TAG spaming is a big evil. I'm still trying to figure out, what might be a good and effective general weapon against this.
Personally, my LEO and POB heavy upvotes almost never land on posts holding many popular general-use tags. But...I'm only one of many curators
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Just read your post, interesting points.
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Maybe?
I have no doubt in this at all.
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Time will tell.
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I honestly think this is pretty typical for most communities. We have seen a fair number of them over the past years come out really strong and then just kind of fade into mediocrity. I am not saying that will happen here, but it does give one pause about going all in. The last thing you want is to get caught in the middle of a flag war for something that comes down to an opinion.
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I agree. I've noticed most tribes see their peak token value soon after they go live. POB had bucked that trend pretty well until the last 2-months or so. But the token last lost 50% of its value (vs. HIVE) in just the last week and is down 75% from its high less than a month ago. That seems a bit extreme and seems to indicate some pretty heavy selling w/ limited buying.
Me, I'm just a "koom bi ya" kind of guy who wants everyone to get along. Obviously that isn't always possible or necessarily what is best for the community. !PIZZA
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Yeah, I am with you there. I'd like to see us all get along too. Sometimes it is hard to know who is right and who is wrong so it is better just to stay out of it. Like I said though you can still get put in the crosshairs just for voting the wrong thing. It is frustrating at times.
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The set back in pob price is also dependent on the low price of major cryptos like btc and others. Moreso, the more there's increase in sales of pob on hive engine, the lower the value it accrues, hence the need to stake more pob tokens as this is merely seed time. So far we're having more sellers than stakers, the price of pob may definitely remain at the low price it is, if not for a long time.
I stake everything I make at least for the next year or so. I'm trying to decide if this is getting close to a bottom and may try and buy some more POB.
Way too much drama. !LUV
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!LUV right back at ya.
@captaincryptic, sorry!
You can call the LUV bot a maximum of 3 times per day.
Fine then !PIZZA
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It's been a big deal, and we are definitely the causality of whales drama in the community. I just keep my fingers crossed and hope pob price Will smile at is again. Beautiful write up
Me too. !PIZZA
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There's always need for all parties to sit down and decide what's best for society. Strife is bad and shouldn't for any reason be encouraged.
I hope things get better in days to come, because people's stake is @ stake.