Random Thoughts on The Values of Steem.
I enjoy drama and internal battles as much as the next person. However, we can fight about making tweaks to the Math on Steem forever and the values of the largest stake holders will show up over and over again. I enjoy Bernie's antics and think he can be funny. It is a bit sad it is the highest valued content on the site according to those who control the stake.
When these are the highest paying posts on the site, it says a lot about the values that fuel the economy.
Change the curation rewards and they will change the bots and their activities to match. Change the timing they will update their bots.
No matter what you change the very limited amount of large users who have the ability to spread the reward pool will still be in the same hands and be controlled by the same values, decisions and activities.
The best thing we can do to fix the economy of Steem is to raise the price so that maybe those who aren't into blogging would sell and thus distribute the Steem. I also think that when EOS has a competing site it will benefit us by providing competition and allowing those who hate SteemIt and Steemit, Inc. a choice and a change to power down and get out, then the distribution will start to correct. Even a huge price crash might help spread the wealth, but I don't think "tinkering" with the economics would help anything.
As a side note, I strongly agree with the suggestion to remove the 30 minute curation reward math.
If you want stakeholders to exit, it's preferable for the rest of us if the price crashes and they sell out cheap. If they sell out on a rising price more capital is extracted on the way out.
Wider distribution of stake will be a double edged sword, posts may reflect the userbase more but the pace of development will drastically drop as decisions become harder to make with more stakeholders.
I am inclined to think we need to embrace the idea of competition. For example we could create a fork of Steem with a stake shake-up. You could do something similar to Counterparty's Proof of Burn so that you have to give something up in Steem to become a large stakeholder in the new branch. The fork could be started with a philosophy of experimentalism, trying controversial ideas out without having to convince everyone on the existing Blockchain.
Thats a solid looking trending page ;)
Only on Steemit...
Lol, Bernie and Block are my fav drama to read
Lol, thats a big bag of popcorn.
Probably going to need it, this battle has been going on since basically the dawn of Steemit
There is no question that it is entertaining. Just doesn't inspire, wanting them for business partners.
2 huge stakeholders and the Pet Project of the CEO. lol, I enjoyed the drama posts more than the Pet Project.
mine too!!
Trending Page is bullshit, that's all I have to say
Now @whatsup please go stand by that pineapple and grin or how about throw something at me...seems that steemit for me is pretty much one or the other, LMFAOOO but not
"pet project" ;) I feel the same
@whatsup,
"As a side note, I strongly agree with the suggestion to remove the 30 minute curation reward math."
You mean no more curation reward? :O
Cheers~
I am for curation rewards. I am opposed to the way the blockchain handles the first 30 minutes.
Yeah, good observations. Everyone is battling over how unfair the system is and yet these top users are still raking in the profits. EOS and other competition will be good for the platform like you said, a redistribution of wealth would surely help as well
agree with your logic somewhat, but not sure on the 30 minute curation removal. I can see cutting it in half, but if you remove it that just means people will upvote without reading, or bots will cut into the rewards the second it posts.
I'd be okay with giving them 3-5 minutes, why should real end-users have to wait for the bots to vote? It just doesn't make sense.
i was saying the other way around, that the bots should have to wait. I think 10 minutes is a fair amount of time to read an article and check sources so people know its original content and not copy pasta. anything less gives no time to comment, especially if people are attempting to curate more than a few articles at a time.
I have been told that outside of captcha there is no way for the blockchain to know who is human and who is a bot. Whatever rule we select with favor the bots.
So, we shouldn't punish the end users. Allow them to vote and earn curation rewards in a Natural way. :)
interesting. I was told that the bots dont vote before 20-25 minutes. I think I need to clarify information on this before I would agree. There doesnt seem to be any consensus on how things work.
By nature decentralized means consensus has to be gained via discussion as there isn't anyone to make the rules.
It is fun to practice.
true, however I have been told there is a very specific formula for how and when curation happens. Obviously someone decided at some point what that is.
Trying to figure out what to do with the value of steem is one of the most complicated issues I've come across in a while. I think most of your points are correct but I also think that the SMT Tokens and the new communities are going to help us.
I completely agree. My points were only directed at the idea that changing the "Math" on a hardfork will change anything. We don't need to tweak the math, we need to add value to the coin! :)
yes yes yes!
nice post, i agree with your points removing the 30 minute curation rule really beneficial and good idea and i also like to mentioned that it's a matter of time when we see all the liquid steem comes in good hands then i hope we surely see the more fair distribution of steem. thanks for sharing your nice thoughts with us, Stay blessed
@whatsup - You are correct ma'm.... Curation reward limitation for first 30 mins need to be removed.... I think it drained the real value for the good authors & best voters too.... Nice discussion you made here ma'm....
+W+ [UpVoted & ReSteemed]
I think I need a break from debating this. While I have my opinions, I feel ive already expressed them enough for this hardfork. I'll be back to complain when hf20 rolls around and the problem is only bigger than before. You are right though, competition might help steemit get its shit together and start curating good content rather than the same old shit cause nothing else has seemed to.
Don't worry we will be off on a new discussion next week. :)
I think I need a break from debating this. While I have my opinions, I feel ive already expressed them enough for this hardfork. I'll be back to complain when hf20 rolls around and the problem is only bigger than before. You are right though, competition might help steemit get its shit together and start curating good content rather than the same old shit cause nothing else has seemed to.
Between the time I wrote this and the time my wifi decided to work, I've debated his topic twice hahaha ok I'm done for real now