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RE: 25 Reasons Steem Will Replace Bitcoin as #1 Cryptocurrency by 2021!
I jump into this link right after a I saw your comment which is more worth it to comment here than on the jerry ban field post. I hope that someone able to reduce the amout of bot or limit the usage of the bot only to retrieve old post which had quality or useful as source of information. I appreciate your effort to deliver a good info for the rest of steemers
Ty. I can appreciate Jerry’s blog because it gives us an opportunity to discuss and shine a bright light on his points.
There’s no way to limit bots or sockpuppets unless Steem gives up the free transaction fees model and/or forces all users to be heavily identified in some way that can’t be gamed. Phone numbers are useless for verification because they can be obtained for free in bulk these days. But even if those changes were made, it wouldn’t solve the problem.
This isn’t intended to be pejorative in any way. But when you mention bots or sockpuppets, you are really not understanding the root of the problem. The root of the problem is the fact that the “proof-of-brain” rewards system is “damned if you do, and damned if you don’t”. Which means there is no change that can be made to it that would fix it. It is inherently unfixable. Voting for rewards from a collective pool of minted money supply is inherently flawed because it forms a power vacuum and a Prisoner’s dilemma. There is no possible fix. I explained that in 2016 and seems that novices can’t understand the logic and math I presented. Or perhaps I just haven’t explained it well enough yet or haven’t yet drawn enough attention to that 2016 blog post in the context of the outcome it predicted.