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RE: What A Mess Steemit Has Become
Let's hold on for a while.
This platform has a HUGE potential as a a FREE SPEECH outlet.
But some of the abusers that try to sabotage this very powerful concept by exploiting all its flaws.
And the abusers are disguised as top 20 witnesses!
You're right, but there's more... The down-vote bots are delegated mvests (SP) through misterdelegation from the steem (company) accounts. Bots are app. They are AUTHORIZED to operated. What I figure is that the rewards on posts that are down-voted return to the Global Rewards Pool. Those rewards can then be recirculated among the 'preferred' accounts. The backlash is that a lot of us small account holders are leaving and the larger accounts don't have a whole lot of post options to vote on. The long and short of it, is that the value of STEEM is dropping, mid-sized and some very LARGE users are panic-selling and while the owner has the $4 USD that was paid per STEEM, sellers get $1 USD when they sell. The company keeps $3 USD.
That's why, in my understanding of the situation, despite being alerted OFTEN about the down-voting bots and declining user rate, the CEO doesn't seem to be too concerned.
Here's an interesting story about a situation that happened July 4th. A user cashed out 1,000,000,000,000 vests and crashed the system a week later due to a negative balance, if I understand correctly. The account is dormant now, but I can see their last transactions through SteemWorld.org
https://helloacm.com/steem-blockchain-incident-of-negative-vesting-and-witness-node-updated-to-0-19-5/
We don't know what crashed the system yesterday, but … well... hopefully we will find out. I'm not seeing an explanation on Twitter...
https://twitter.com/SteemNetwork
It crashed just after I put up this post LOL. ;-)
If the American company, Steemit Inc, is taking 75% or $3 USD out of $4, like you said, is that too much?
That would make it a scam. The more I look around, the more it seems like one. The numbers I plugged in are theoretical. This could be a 'possible' strategy. The staunch believers in the Steem system are quick to say that vote power is a measure of the SPs you hold, so the wealthy on Steemit, just like in the real world, call the shots and they are entitled to do so. That's fine by me, but all the pretentiousness about 'quality content' doesn't sit well with me. If the name of the game is bid bots and voting rings so be it. But suggesting that you can work your way up is really a stretch. The large accounts don't even bother authoring or curating.
Can Trump work his way up? His grandparents were poor, right?
Can we have more witnesses? Can we develop alternatives to Steem and do better than Steem? Can Gab, Minds, Bitchute, Real Video, do better than Steem? What can we do?