RE: 25 Reasons Steem Will Replace Bitcoin as #1 Cryptocurrency by 2021!
[…] examples you gave of leaving bitcoin in your wallet and possibly not earning a thing was a wake up call.
That is a deception. Whilst your STEEM POWER (SP) increases, the cartels are taking asymmetrically more rewards out than proportional to their SP, thus you’re continuously being diluted/debased relative to if you had held BTC instead. The only reason you’re able to advance is because enough other greater fools are fooled into buying STEEM and driving the price up despite the ongoing scam which they’re not fully aware of. And if you happen to be one the lucky bloggers that is upvoted by whale cartels, then you can be shining example that the scam tries to reward a few superstar bloggers to make everyone else jealous and manipulate their psychology to think that in the future maybe they can get high rewards too if they continue to give more effort to Steem than Steem gives back to them.
I have written a point-by-point rebuttal of @jerrybanfield’s incorrect propaganda campaign.
Is that not what capitalism is all about? The Rothschild empire has a lot more fiat money than Steemit whales have SP. Some companies have a lot of money. The central banks have a lot of money. Like the real world, Steemit has whales too. So, should everybody have the same amount of money? Am I not able to become a whale on Steemit?
No. You’re ostensibly conflating monopolies (due to power vacuums) with free market capitalism.
For example, central banks loaning money to the government (thus forcing regressive taxation) came about because the power vacuum of democracy is totalitarianism.
One of the key points in my rebuttal is that the rewards for cartels are asymmetric and disproportionate to their SP stake. So not only are they getting their outsized share, but they are also getting more than their outsized share. For some reason, this point seems to fly right over the head of most readers. I cannot since my explanations in 2016 get the community to comprehend the logic and math of it.
And Minds has not solved that fundamental problem that I had explained in 2016.
EDIT: I elaborated in my reply to your other comment about the distinction between top-down ruthless power vacuums and the beneficial, bottom-up free market.
I prefer constitutional, representative, republics over cartel ruled democracies. I love free markets. I prefer real capitalism over crony capitalism. I do not like central banking because they control the dollar. Steemit is not centralized like that, at least. Steemit is better than Facebook. But if we can do better, bring it on.
All democracies (including republics) before cartel ruled because of the power vacuum concept I am trying to get you to grok.
The latter exists because of corruption of democracy which rewards monopolies, regulatory capture, etc.
Incorrect. DPoS is stake-weighted democracy and will entirely cartelize winner-take-all.
We upload posts & comments into a decentralized Steem blockchain, and the voting system is not the same thing and I do not want the voting system to be void of capitalism. But who is the cartel? Who is not the cartel? You want everybody to be equal? But people are not equal. Some people will become more rich and some more poor, and that is the beauty of life.
You and I have been having a discussion spread out over many different blogs thus not all of my replies to you are in one place for the reader.
Even though I have already explained to you that egalitarianism is not my goal nor am I alleging a lack of egalitarianism as being a fault of Steem. You don’t seem to understand how the game theory of Steem’s reward system is deleterious because it isn’t meritorious nor equitable, and it encourages everyone (who has any significant wallet balance) to defect and vote for themselves (via sockpuppets if necessary). Don’t conflate inequitable with inequality. Conflating the two words is a failure to use definitions correctly. Unfortunately all the English dictionaries have an incomplete definition of the terms ‘inequity’ and ‘inequitable’ that emphasizes only unfairness and unjust.
So I am referring to the antithesis of the #2 definition above. So by inequity, I mean not proportional to the shares issued. I mean that whales are able to generate rewards which exceed the proportional of their ownership share. IOW, I am saying that Steem’s reward system is not capitalism and instead Communist Fascism. In Communist Fascism the State controlled by an oligarchy of Tzars owns everything and steals everything from the people. Their takings are not by way of merit and capital investment but rather by decree or fiat.
This is a discussion we can have in the future. I do not want to expend more precious time on this now. If you reply again to this comment, I will not have time to reply. Please save this discussion for the future time when I have already launched my project and then want to have a roundtable or AMA discussion with the community.
If Steemit is more communistic like you are saying, and I am seeing some of that, then I hope we can reform it and/or leave to better places maybe.
Where I was explaining about that communism in Steem and EOS, I also told you I am building the replacement now and some example logos are here and here.