We've voted on a Proposal

Hello SPIers, today we get political which is not normally our content. SPI and related accounts have never voted for HIVE witnesses or DHF proposals because the accounts are technically owned by investors. I might have voted on 1 proposal for a few weeks in SPI's 5+ year history and this morning again, I broke the rule.

I've never used SPI HP for witness or proposal voting because I understand some people will agree or support an action while others will not. I mostly like an easy life so not voting for anything makes sense.

With that said there has been alot of talk about the DHF lately, alot of money going out and no accountability from those who receive funding. I saw this in a discord server this morning and it's pretty interesting. I'll not say who posted it but they are a top witness and even posting their name might trigger downvoting bots. (Thats decentralization, huh?. I mean I have the freedom to post their username but there might be a punishment if I do 🤣)

Interesting stuff, it's amazing how some of these proposals can get away with it. There are a few things up there that are essential for us like KeyChain and a bunch of stuff toward the bottom that runs nodes and code but alot of the rest appear to be money grabs with no explanation as to where the money goes.

People write beautifully scripted and formatted proposal posts, they must spend hours gathering all the information they need and run through many drafts before uploading.

It's a shame people who get funded dont put the same effort into informing the community about how their money is being used.

KeyChain might only cost a fraction of what they receive from funding because its pretty much a browser extension but it works and is getting updated all the time. The point is, regardless of the cost, and the amount they asked for and got, it works (no bugs) and gets better over time. We've all witnessed this first-hand. They seem to 1 of the few that deliver and make progress.

Other projects that receive funding should be self-funding from my POV. Why do we fund frontends/tribes? LEO costs the equivalent of $20 per user per year and they charge a monthly fee to get premium access, they collect ad revenue and im sure they how many other income streams.

Why do they need funding? To onboard people at $60 a pop?, sorry I mean to open accounts at $60 a pop because we can each create hundreds/thousands of accounts easy. Dbuzz, Ecency, actifit and the rest of the tribes are all the same, LEO is just the biggest tribe and the easiest to use for an example. Charge a yearly fee and if your front end is good, people will pay to use it. If tribe operators cant manage money and need to be funded to stay alive or "expand" it as they would phase it, maybe we are funding and giving money to the wrong type of people. hahaha.

Anyways, i could moan and bitch for thousands of words but i'll get into trouble. To the point of the post. I have voted for the DHF Return Proposal from the @spi-store account. The Return Proposal in a nutshell is...

The amount of HIVE POWER being voted into the Return Proposal is the minimum amount of HIVE POWER a proposal needs to get to receive DHF funding.

https://peakd.com/me/proposals (RETURN PROPOSAL is last in the funded list)

You can see from above that the minimum amount of HIVE POWER support a proposal needs to get funded is 31.1 million. It could be alot higher.

Why would SPI vote for this?

Because it makes it harder for people to get proposals funded which maybe means less HIVE will be dumped onto the market. Where do you think funded HBD goes? I'd guess most is converted to HIVE and then dumped to an exchange adding to the HIVE selling pressure problem. Dont even get me started on HBD, they keep increasing its maximum threshold against HIVE to the point it's just rolling on the floor funny.

SPinvest started just over 5 years ago and we have overheads but our overheads are small and manageable because thats the way I thought it was best to operate. Maybe we should bulk out the team, start paying salaries and then ask for a handout (to expand). Im sure between SPI, EDS, DBOND and RUG holders, we'd have more active investors compared to some tribes getting funded.

SPI has voted for this because the DHF fund is costing each of its investors $360+ per year and do we get $360 worth of value? Where would that $360 have gone if not for funding DHF, I cant honestly tell but I'd assume it would stay within the HIVE ecosystem at least.

So now you know, that SPI has voted on the Return Proposal because it's too easy for proposals to get approved and it's costing us all money in one way are another. If projects cant stand on their own feet, why pay for them? Coding for utility dapps, operational nodes, SQL, promotion (proper promotion), events, etc are all fair game. Funding for a for-profit business, you're taking the piss mate.

Maybe I overstepped the line but how many want a HIVE rally car that costs 6 figures a year? I mean, cool out-the-box thinking but logical thinking would suggest maybe the team were not good enough to get traditional sponsorship and decided HIVE could fund them to travel and race around the world with a promotional team instead. I have no idea where they are ranked in whatever league they are in, it hardly matters cause whoever sees the car and is interested in crypto, will go to hive-blog to see there is no rally car community here and 80% of the content is about HIVE, Splinterlands are daily actifit reports. Hmmm, what would you do as a rally car enthusiast? Create an account.... nah?

To wrap up, I would not say to vote for the Return Proposal but i would say check out the information and see if it's something you think you would support or not.

Here's the link to the Return Proposal Post - https://peakd.com/hive-102930/@gtg/dhf

I'll reply back to any comments tomorrow, I'll be out of town this evening.

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Getting Rich Slowly from June 2019

Token Name	Main Account	Link to hive-engine
SPI token	@spinvest	SPI
LBI token	@lbi-token	LBI
Top XV token	@spinvest	XV
Eddie Earners	@eddie-earner	EDS
EDS miners	@eddie-earner	EDSM
EDS mini miners	@eddie-earner	EDSMM
DAB	@dailydab	DAB
DBOND	@dailydab	DBOND

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