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RE: Steemit: Noble Cause or Oligarchy?
There are certainly still lots of room for improvement for Steemit as a platform. As you correctly pointed out, most of the power is concentrated in the top few percents of the users here. However, we can all say the same for any economy in this world.
There are certainly a few ways they can make it more fair. Below are some that I thought of:
- Tweaking the post reward algo to factor in post views reward calculations. I am seeing too many posts with more upvotes than view counts.
- Limit the rate of API calls so that the effectiveness of voting bots will be reduced. I think bots still have their merits, it improves efficiencies and certainly make Steemit more usable as a platform.
- Tweak the UI to rank posts based on more meaningful measures, such as view counts, so that quality content can be better rewarded.
These are just my thoughts. But I guess the developers are too busy working on SMT now to bother about other things.
@deanlogic made some suggestions that wouldn't take much time at all to implement which is why some people believe the developers and those with large stakes in the platform are perfectly happy with the way things are. They have most of the power and reap most of the rewards.
Let's hope that the developers have the long-term interest of this platform in mind. If they do not tweak the platform to reduce the gap between the whales and the minnows, I think the majority of the users will be disappointed and leave this platform. We will then inevitably lose quality contents, therefore losing viewership and together with it, losing the value of this ecosystem.
Thanks for your feedback@culgin, I appreciate you taking the time to point out some potential improvements. I’ll keep them in mind, and if you don’t mind, perhaps I could mention one or more of them in a future post, crediting you of course. Keep on Steemin’. Best Regards. 👍
You are welcome! And sure, feel free to mention the suggestions as you like.