"...the Blurt project was built by Hivians to escape this problem, which is sabotaging the platform."
Right on all counts. It's the fundamental reason I don't use Hive as money, because that's how demonetization turns into extortion, and I won't be extorted by mere money.
Shame. Seems to me there could big success by doing things the right way.
I suppose the perception of power is too compelling to the whales of hive.
Lets hope they manage to see the bigger picture 🙏
"...the perception of power is too compelling to the whales of hive."
Not at all. They're very pragmatic. Their philosophy can be summed up as 'Cash is King.' Presently their control of governance is complete due to Hive being a plutocracy, and they are the plutocrats with the majority of stake, which they can maintain by voting in witnesses that support code that enables their maintenance of that majority of stake. Very simple. They extract the lion's share of the rewards pool through various mechanisms, circle jerks, curation rewards, and etc, which are maintained by the witnesses they elect. As long as they maintain this control, they maintain ROI of better than 25% or so, which is why creating HBD savings accounts with lower returns than that doesn't attract them to park their stake in those accounts.
I reckon that is the bulk of the big stake's objection to high interest HBD savings, because if the HBD savings were high enough, say 30%, then the whales would no longer be able to maintain their death grip on the majority of stake without using those accounts - which withdraws their stake from voting on governance. That perception of power is worthless. The power, on the other hand, is priceless. Or rather, worth ~25%, or total control of the blockchain, in perpetuity.
They don't care about potential. They have cash in hand. Cash is king.
That's how Steem was designed, and Hive is just Steem without the Founder's stake in the hands of the Founders - until the ninjaminers extract it from the DHF. This is how it's worked since 2016. It's not under siege. It's under control. Although, you might look at it that we are besieging it, trying to gain stake and thereby increasing distribution.