RE: 25 Reasons Steem Will Replace Bitcoin as #1 Cryptocurrency by 2021!
Hey , look at that , 2 people on internet debating without name calling :)
- Either bid bots are ok or are they not ok ? we need to make that determination first , if it's ok people will use leverage.
I understand the laws to break down monopoly to foster "free market" but I don't think that would apply within an ecosystem.
If it was upto me , bid bots shouldn't be allowed at all but I also know if we suppress the bid bots it will happen behind the scene on private chat servers .
Unless there is some manual curation or bid bot ban it's probably not going to change.
2.Centralized by people heavily investing in it and becoming whales , they are taking risk by investing and ought to be rewarded by the heavy influence they get in return.
To your broader point , yes, the title is clickbaity but I also see that @jerrybanfield has put a lot of effort in presenting the hour long well researched presentation.
I guess what you are saying is break up the monopoly of whales by forcing them divest , it has happened in world with big companies but since there is no ID check behind Steem a whale can just create shadow account and split token amongst them.
I do , however , take your broader point about the problem statement of few players having too much influence to leverage the rewards pool.
Here is a potential solution - once you go above a certain reward value , a % is deducted ( let's call it steem tax ?) and that gets fed back into the system.
Dramatic recreation :Here we see a regular steem user being Fuc$$d by a whale
They will just make more blogs and comment posts with sockpuppets to side-step any threshold.
Sorry there’s no fix for Steem’s reward system. Can’t be fixed. I pointed that out back in 2016.
There will always be ways to abuse the system, it is just way too easy right now. They could at least attempt to implement a system to make it difficult.
Rewards need exponentially more voting to increase rewards beyond certain thresholds.
Whale accounts can not longer only upvote a single account and that is it. Make it so one single account cannot contribute more than 5-10% to the reward payout. These whale accounts also need to contribute to other accounts, so make it so they can only vote for a single account once a day, 3 times a week.
have large payouts reviewed and have the possibility of them being denied/reduced by a random jury
Will it fix the issue, not completely, but at least it will make it harder from them to scam the system