Transparency can bite you in the ....
Maybe the other day I was sugary sweet talking about one of the Dapps .The people that know me guessed it was Musing that I was talking about. I don't know the entire story, but one plus one doesn't make two with them. A few of us have been chatting for the last few months with the same concerns saying that the site wouldn't last if they carried on the way they were.
Musing mentioned that they hadn't done any curation for a while due to lack of funds paying curators.This is reported in the discord so it isn't made up or guess work. This was the reason for the power down apparently that has been going on for around 2 months now.
What I found interesting is one of the curators came out saying he was never paid for curating.How many curators were curating then and were any paid for their work. The power down didn't make sense as with the large delegation they had the vote was worth over $23 per vote so $230 per day. Surely if this was the case one or two votes would have covered curation if some were getting paid.
I had a look again this week on what kind of activity is happening there and in the last 7 days they have handed out 1 vote actually 90% of 1 vote to be precise. Their vote is worth $1.76 so 10 x votes per day is $17.60.we are talking about the last 7 days,but we know it is longer that the vote has been sitting idle.
Over the last week if we take the curation alone they have thrown about $31 away that the site could have earned and powered up/down. Power down still happening so god knows why anyone left delegation with them still.
With the vote sitting idle over the last few weeks and even when they had the delegation from Mr Delegation they have squandered $100's if not thousands if we look even closer.I can recall when their vote had a value of over $53 and users had to remind them to vote. You can't let a vote sit at 100 percent for hours on end when that is your revenue source.
If and when they restart I only hope it is run better as some business acumen is needed. The users who were using the app were frustrated,but didn't want to be slated for speaking out. I hope other Dapps take the business side more seriously.
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If i remember correctly thats a steemit inc account and if so this is why im against them handing out delegations. If they really want to help steemit grow distribute that stake to all active users on the platform so we can decide what projects are worth it. Especially with fundition I see no point to an account like that.
I think they gave them a chance to see if they could come up with a proper business that wouldn't rely on delegation. Nothing materialized and was no shock when it got pulled. As much as I liked their votes it didn't make sense and now with what is going on shows it was the right decision. I just wished they just carried on showing how strong their community actually was and just maybe would have received delegation from it's very own community.
I know its tough doing it that way, but think that shoukd be required to grt started of every dapp on the platform.
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I agree, it was visible that something is not ok, lots of things did not add up and I somehow was expecting this outcome, not that I like it. I still don't understand why. When you have a good business like that, you have to take things seriously, work to grow and respect users.
Acting this way will make the dapp die slowly and active users will move away!
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That is already happening.
This place is full of thieves and useless wankers, not you, but some of them greedy wankers on here.
I am shocked that people figured out who you were talking about. :) I am just kidding, I am not surprised at all. I think it is interesting to note that they have admitted in the Discord chat that they didn't run it as well as they should have and moving forward I think they were looking for someone to help in that aspect. It is steep hill to climb to get back to where they were now that the delegation is gone though.
Someone is running away with bag fuulls of cash. maybe @steemdetective can do a bit of snooping