RE: #MyHiveGoals - A Question For Maxis...

avatar

You are viewing a single comment's thread:

I like to think I fit in the camp of Bitcoin maxis, though using another blockchain probably disqualifies me for many in that camp, so I hope I can give some insight to the question of what most are doing.

I think the large majority are just saving Bitcoin in preparation for the eventual world reserve asset change to Bitcoin. I think most just want protection from anyone inflating their portion of the monetary supply away from them. We aren't looking for yield so much as we want to be protected from anyone having the ability to change that basic token function. That doesn't mean it hasn't been a positive economic choice for any tenured maxi. Bitcoin, with enough time given, has been the best performing economic asset out there.

If you are asking more about what they're doing to earn a yield there's many answers to give. If you don't mind to trust funds with custodians then there's a number of companies that will give you yield for letting them hold your Bitcoin. I wouldn't recommend those to anyone but they exist for those that want to play musical chairs. If you're less risk tolerant you might try earning yield providing services for Bitcoin like providing liquidity for JoinMarket or getting paid to create lightning channels to those wanting extra inbound capacity. Using these services you keep control of your funds but you're at a higher risk of technical issue over just holding your Bitcoin in cold storage since these require funds in a hot wallet.

At the end of the day it's just nice for me to know that the value I have in Bitcoin is untouchable by anyone else in the world. I don't have to do anything to keep my share of the pie other than not spend it.

Posted Using LeoFinance Beta



0
0
0.000
2 comments
avatar

Completely understand the reasoning, and appreciate you swinging by and letting me know!

Issue for me has always been...Why trash any other project? Maxis have the reputation of doing it lol

0
0
0.000
avatar

The trashing other projects has always been a hard one for me. I see the issue of turning people off but I also see the value it provides of acting like a community immune system to protect users. It turned me off to projects like Samourai Wallet, that were known for being toxic, at first. That being said with enough time most of the issues they raised, albeit crassly, were often proven correct. That leads me to think it comes from a sense of wanting to protect users from falling for a scam.

I can relate in way. When @dlive left Steem to create their own blockchain I reacted in normal maxi fashion and was very toxic to anyone that supported that traitorous scum. I knew they were doomed to fail and I felt like they had clearly shown their lack of honor. I felt like it was clear to see what their plan was and that if anyone was supporting them they were attacking truth in a way. I think I've been proven right with time about the platform but in the short term I know of a couple users that left Steem right along DLive that might not have had I not been so crass towards them.

Was the loss of those relationships worth it? I don't know that I could answer that but I do feel bad that they ended up missing out on Hive. That being said the ones that did stick around and put up with the fire are now doing great on chain here. Maybe it improved this community be keeping those just seeking to leach value away and moved them off onto LINO?

0
0
0.000