While this is just my personal perspective, I just realized that I developed diffidence to users with high KE ratio on the Hive blockchain. I agree that everyone is free to do whatever he or she wants with the Hive rewards and their participation to the economy and governance. But in the same time my behavior somehow changed when doing curation and while I engage with Hive users hive high or even astronomic KE ratio, when it comes to curation I abstain most of the time. And that is because I would like to see passionate Hive users blogging and sharing any time and form of content, but in the same time thinking about the tokenomics of the blockchain. This is not a rule and maybe that's not the root cause of the declining Hive price, but I think that not putting more selling pressure is something we should all think about. And while doing that we increase the governance stake and maybe help in the future with better decisions to steer the Hive blockchain.
In the same time I understand that a high KE ratio doesn't tell the whole story. People have different reasons for selling their rewards and we shouldn't judge their commitment to Hive based on a single metric. Still, I believe we should think about how our choices affect the ecosystem. Powering up part of our rewards, creating valuable content, building applications or participating in governance can all contribute to Hive's long term sustainability. We don't all need to follow the same strategy, but it's worth asking ourselves whether we're only extracting value or also helping create it. And how those actions impact things around us. Seeing a KE ratio of 100 or even 1000 while mine is under 1, somehow makes me skip the curation step.
Curation is subjective and everyone has their own criteria for choosing what to support. For me, an account's long-term commitment to Hive has become one of those considerations. A high KE ratio isn't an automatic reason to disregard someone's content, just as a low ratio doesn't guarantee meaningful contributions. I simply want my votes to support the kind of ecosystem I'd like to see: one where people create, engage, build stake and care about Hive's future. Not that it is easy to see one, but I still keep the hope flame burning.
This is just my personal perspective and in now way that is expected for others to do the same. Hive's price depends on many factors and reward selling alone doesn't explain its performance. I believe that the whales can do a splash in the wrong direction (selling) that would compensate same action from hundred or thousand of smaller accounts. DHF funding adds pressure to that as well without a similar proportion of value being captured back. The way I see it is that we should think beyond our individual earnings and consider the health of the blockchain as a whole at least when it's in trouble (few weeks ago we were reaching new All Time Lows). If we can to refrain from adding selling pressure in bearish times and we couple that with future bullish times when Hive price can X2 X3 X5 or more, we can all take some healthy profits out of it. The user base for sure will increase in bull market, thus our actions will not have a crazy impact into the tokenomics. At least that's how I see things and feel about them, good or bad.
