Warning: Steem witnesses executed a hard fork on 2020-05-20, seizing 23.6M STEEM from 65 accounts. The funds were transferred to an account named @community321, the ownership (and intentions) of which have not been revealed. The witnesses claim to have been targeting accounts which defended against a hostile takeover in early March, but at least 2 accounts on the list have been inactive for over 4 years.

Coverage:
- Decrypt.io: Steem network to seize $5 million from its own users
- SteemPeak.com: Official Announcement by @softfork22888
- GitHub.com: view steemd HF23 changes

What you can do:
- Send exchanges a notice of the pending class action lawsuit.
- Switch to HIVE, the community-led fork. Visit Hive.blog and Hiveblocks.com.

What Is Truly Needed: The Hive Economy by taskmaster4450

View this thread on steempeak.com
· @taskmaster4450 ·
$23.85
What Is Truly Needed: The Hive Economy
It is times for each of us to start thinking about the next few months.  Now that Hive is up and running, we should start planning what will take place.

Presently, the developers are all hard at work trying to ensure things keep operating while converting over the different services.  This is going to take a while although, each day, we see more coming online.

Once we get past the hiccups that are inevitably going to arise, we need to be on solid ground in our understanding of what we are trying to do.

The idea behind Satoshi's original vision was to create a currency that operated outside the present economic system.  After the collapse of a decade ago, he/she/they realized how people were not safe due to structural issues.  The economic situation that we are all forced into is not very sound, at least for the average person.

In essence, Satoshi saw the opportunity to create entirely new economies.  These were based upon decentralization and computation.  Over the next few years, we saw many projects that utilized this idea.

https://static.wixstatic.com/media/ebfa53_c3666e291f4246e9bf837279705bd44e~mv2_d_3188_1792_s_2.jpg
<center>[Source](https://static.wixstatic.com/media/ebfa53_c3666e291f4246e9bf837279705bd44e~mv2_d_3188_1792_s_2.jpg)</center>

Sadly, this vision got lost a bit.  New blockchains appears along with different "Proofs".  This led to a great deal of attention being cast upon cryptocurrency.  Since the financial aspect of the equation was stressed, many saw it as an opportunity to make a lot of money.  

The conversion from Steem to Hive was rather easy.  Sure, it was a large project but the undertaking was not impossible.  This is, overall, a sad statement.  It shows the failure of the evolution of Steem over the past 4 years.

We cannot make the same mistake with Hive.  

Therefore, it is time that we get back to the original vision of creating an entirely new economy.  The Hive economy needs to be so big that there is no outside threat that can take it down.

Incidentally, this is a very important time to embark upon this mission.  With the global economy being squashed due to Coronavirus panic, people are going to be suffering a great deal for months, if not years.  The economic system everyone knew, for better or worse, was basically obliterated.

Cryptocurrency is still used as a unit of value as opposed to a unit of exchange.  People are looking at crypto like they do stock, as something that will appreciate over time.  There is nothing wrong with that viewpoint and, I firmly believe, those laying the foundation deserve to benefit a great deal in financial terms.  However, it is vital to move past that idea.

http://geocitiessites.com/historymech/rysunki/02_mon_circ.gif
<center>[Source](http://geocitiessites.com/historymech/rysunki/02_mon_circ.gif)</center>

Currency as a unit of exchange takes things to a new level.  With the expansion of an economy comes confidence.  The ultimate goal is to kick off the network effect.

What is taking place now is going to lay the foundation for the next couple years.  I know development teams are hard at work converting their projects over to Hive and getting things up and running.  Nevertheless, when we get to the point where things are "back to normal", it is time to look at the next step in our evolution.

Commerce is the engine that drives it all.  This is something that has to receive the bulk of our attention.  How can we all start transacting on a commercial basis?  This is a very important question as our existence moves more into the "virtual" realm.

With each beginning is a gran opportunity.  Each person who is on here has something to add.  The idea of Hive is a community driven platform; that means each of us has a part in the success.  The responsibility falls upon us.

There are two ways that this can happen.  The first is to bring money into the ecosystem from the outside.  This is what all blockchains are looking to do and we see the results.  The second is to create value from within.  Here we see an approach that few are taking.  Hive can be different because, as we showed, the community is very strong.

Thus, it is up to us to create those products and services that have value to people.  This translates into the applications/projects we utilize.

We have the opportunity to make a huge impact over the next 5 years.  With so many changes taking place, it is an ideal time to introduce something completely different to the world.  There are thousands of innovative minds on Hive.  Collectively, we can start the process of erecting a new economy which people are free to join and take part in.

With all that is happening on the outside, it appears this is badly needed.

___
If you found this article informative, please give an upvote and rehive.



![freedom.png](https://files.peakd.com/file/peakd-hive/taskmaster4450/JeWYWGeN-freedom.png)

![image.png](https://files.peakd.com/file/peakd-hive/taskmaster4450/AyvHLP0Q-image.png) 
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👎  , ,
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@trieuvinhkim ·
very good : )
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@danmaruschak ·
I think you are right about the substance of there not being enough commerce being conducted with cryptocurrency, and that the lack of goods and services being exchanged for Steem/SBDs was one of the critical flaws in the ecosystem that undercut the "feeless transactions" aspect since the only thing you can really _do_ with them is trade them for other currencies at which point you'll run into transaction fees again.

However, since the post is framed in terms of being all about Hive, I am not a huge fan of seeing it getting rewards on Steem.
👍  
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@greys89 ·
Currency outside the system can't work. Governments always gets involved, regulate and destroy.
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