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RE: Steem's #1 Pirate - Abuse & Plunder Report 2018-08-10 (last 24hrs)
He has more greed than my account is valued 🤔 Makes me wonder what I am doing wrong!
He has more greed than my account is valued 🤔 Makes me wonder what I am doing wrong!
this is not financial advice
Steem rewards big investors with heavy votes similar to how Banks reward big depositors with interest that is based on an annual percentage rate.
If you've got one-million in a savings account it will earn you about 50k per annum at a 5% APR. Remove that money from the bank and invest it into Steem and you're no longer getting 50k per annum. In fact, you've just taken a financial risk, which may or may not pay out when you need it to. Steem recognizes this risk and rewards investors with a heavier vote based on the amount of Steem deposited as Steem Power to the blockchain.
I'm not so certain this can be explained as Greed. Investors don't need to keep their money on the blockchain. They could hold it in banks and get that 50k per year, without the headaches. So when I see an investor reward themselves in essence with their own investment, I see business as usual. They could just as easily dump their stake to the market and return their money to a savings account. This would affect the value of Steem overall if they did that, especially if capitalistic investors looking to make a profit weren't willing to buy the dip.
So is an investor being greedy by rewarding themselves? It might not be as cut and dry as you think. Maybe, they're trying to cover that 50k loss while adding value to something that's better than the FED? I'll tell you one thing, if it weren't for people trying to ride bitcoins coattails and cash in on crypto in hopes of making sick profits, then nobody in their right mind would have invested in Steem and it would be valueless.
I see that you upvote yourself at 100%, so in answer to your question the only thing you are doing wrong is not having enough Steem Power. Steem is real low right now, if you went and purchased a million dollars worth of it, I think you'd find that your 100% upvote would be much more valuable than it is right now. The only downside to investing in steem is you'd catch hell from certain members of the community if you did exactly what you are doing now, were you a wealthy investor.
this is not financial advice
Yes I do upvote my own posts but I also upvote lots of posts which are not mine!
That’s the difference. And yes there is a big dif between mine and his account 😁
No prob with that. He did earn or invested it in the beginning!
Cheers,
Peter
So if you brought in 1m or whatever the guy brought in, does he have the right to reward himself the APR he's missing by not storing that money in the bank? Or are heavy investors just obligated to let that money go? Do you think capitalist would invest in Steem if they thought it came at a net disadvantage?
No I do agree with that part!