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RE: Meine Analyse zur Hardfork 19
Thanks for your feedback! I'm trying to understand what you mean as best as I can :) You mean the investor should not have the right to earn rewards based on the size of his stake? But it's proportional to the size of stake and that's okay or not? Do you think that the changes made in the HF19 regarding to the linear reward curve are not good? I think the HF19 has been a big step in the right direction or did I miss something?
What I am saying is that the investor's reward comes when they sell their 'stake'. The fact that Steem has a system for earning income should not be a factor as to what an investor takes out. For instance: Suppose we have a company that makes shoes. An investor buys shares in that company and the company uses that money to buy new equipment to automate some of its processes. That allows the company to make and sell more shoes. This makes the value of the shares in that company worth more.
Now lets consider if the investors demand a pair of shoes for each $100 they invested in the company: You can see that if there are a lot of investors, many of the shoes the company makes will not be sold, but instead go to the investors (who can sell or use the shoes as they please). Obviously, this eats into the profit margin of the company and the value of the shares is diminished from what it could be if all those extra shoes were sold.
If the investors were treated like any other paying customer, the company would be selling shoes both to the general public AND the investors, thereby increasing their sales and also the value of the shares. This is the normal business practice. NOBODY gets a discount on their shoes, regardless of the amount invested in the company.
In the case of Steem, the product being sold for "proof of work" is Steem and SBD. The price you pay for Steem and SBD should be the same for everyone (and it is if you buy it on the open market). However, if you work for it, the price is NOT NECESSARILY the same due to the voting system. As a worker in the shoe factory, one employee gets paid far more than the other employee simply because this employee has won the popularity of investors who decide that they wish to pay certain employees more than others. This is a bizarre concept and would never work in a business model. The employees who are also investors would soon control the company and bring it down due to human greed.
HF19 simply altered the number of votes allowed and did give slightly more power to those with less invested, but ultimately it is still the same flawed system. The system itself could work if the people involved could control their natural tendencies. The question is, can we conquer human nature?
Nobody can't coquer human nature and HF 19 is made exactly for the greedy ones,. Now they are sticking in selfvotings and cirkle-jerks. But Steem is in Beta. My hope is, @dan will read his white paper again to have a look what they did wrong in HF 19.
I believe their verification system of creating accounts needs to be made so that each person can only have 1 account.
When voting on posts/comments/witnesses, everyone's vote is worth the same.
When voting on changes to the system, THAT is when your stake (vests) are used to calculate the power of your vote. As it currently stands, it seems only witnesses get to vote for changes to the system, not the general public, even if they have a huge amount of stake.
The problem is to avoid multiaccounts. There is no device to do that. A lot of Whales and Dolphins devide their power on multi accounts, voting themselves only. They drain the pool with this method and our rewards are decreasing of that. And they doesn't vote for others with the bots, like they did before HF18/19. It's a big scam for the investors. But you should steem on. The next HF will surely come. It can't get more worse.
You've outdone yourself.
I admit that I know nothing about blockchains and programming, so I have no opinion about if there is a way to stop multiple accounts. I lately read that one Steemian wrote his own script to create accounts, so if that is possible.... WOW! In that case, is it also possible to write a script that simply supplies your account with Steem?
I've said it many times before... I love the concept of this platform! Time will tell where it goes.
We all love the idea of Steemit, @happyme. And I hate all the cheaters occuring on the Steem last time. I don't write one posting anymore, until the cirkle-jerk of whales will finally end. We have one stalker here. He is unfortunately an very ill guy and he has up to 2000 accunts, flagging the people, he hates. Okay, we are in Beta. Just steem on and be happy.
Thumbs up!
Die Berliner könnten es ja Mal mit Gebärdensprache versuchen. Ich kann nämlich kein Wort dieser Antwort verstehen.
This is a game-changer.
This is beyond amazing.
Great job explaining.
This is mind-blowing.
Yes, we will see. In theory it might be needed to apply some changes with HF20/21 regarding to your concerns, but for now it works and I think: Don't worry, be happy @happyme ;)
Thank-you! I am happy and making the best of each situation I find myself in. The world is not perfect and neither are we. That is what makes it more interesting at the same time! My intention is simply to bring awareness to issues that could be made better. In the meantime, I enjoy what we have now.
Cheers to you @steemchiller!