RE:RE OH OH fees versus HODL for DEFI lol everyone is thanking him for this post.
He's saying the exact same thing AlphaJ and myself said.. he just thinks it will be a 10 - 30% hit instead of 80% ... which is debatable.
but let's say we split the difference and call it a 55% hit... that's still HUGE.
Then he's saying HiVE will make up for this mining revenue loss in its venture with DEFI. Which is pure speculation..
so while his post provided more technical details.. in the end he's saying the same thing we are in terms of eth mining revenue losses.
lol this board is seriously hilarious.
*sips scotch*
-Bac0n
financetechy wrote: Hey people, new poster, i have been asked to clear up some confusion re fees and the importance of unerstanding what HODL is for as related to Hive....i am in the Defi industry, but to be clear i am not an employee of Hive or Defi Technologies...So...for clarity the intro of EIP 559 in July does mean a dedicated ethereum miner like Hive...will have to adjust....currently because of high demands for ether tokens, dedicated miners like Hive have seen a big boost in fees. the new EIP 1559 protocol for Ethereum transactions is made to be more more efficient by using a hybrid system of base fees and tips to more evenly incentivize miners in periods of high or low network congestion. In the new protocal, a base fee is defined as an algorithmically determined price that you will pay for transactions on Ethereum...now will this reduce Hive gas income? possibly depending daily flow, transactions, congestion etc...but this will not be an 80 to 90% reduction in income but in some circumstaneces it could be 10-30% lower from current fees on any given day...or depending on usage demand virtually no reduction at all on a given day...But and this key...with ethereum 2.0 coming the goal is to move to proof of stake, where a node can stake 32 ether tokens and then earn a return...but 2.0 is not here yet but HIVE is already prepared...with DEFI/NFT exploding in use Hive with its HODL of 20500 tokens now and growing evey qrt, is now staking DEFI/NFT activity every day! so that a Hive HODL is now earning an income on top of gas fees...and the bigger the HODL the more DEFI income,this DEFI income will quickly dwarf gas fees whatever they are with new 1559 protocol as HODL grows and grows and deployed to DEFI...So even before eth 2.0 and staking Hive is locked and loaded to super charge its inome and cash flow right now...regradless of new gas fee structure.... and eth 2.0 will just allow Hive to deploy its ever growing HODL to increase revenues and profit further with its ever growing HODL....its no secret in the DEFI sector that HIVE has a tiger by the tail...i will post this a few times so new investors can see this and clear up any confusion as to why gas fees and changes with 1559 are not a problem because of DEFI and eth 2.0 staking income and HIVE ever growing HODL