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RE: 25 Reasons Steem Will Replace Bitcoin as #1 Cryptocurrency by 2021!

in #dlive2 years ago (edited)

This post, with over $50.00 in bidbot payouts, has received votes from the following:

postpromoter payout in the amount of $420 USD.
smartsteem payout in the amount of $279 USD.
appreciator payout in the amount of $236 USD.
upme payout in the amount of $190 USD.
rocky1 payout in the amount of $157 USD.
promobot payout in the amount of $114 USD.
buildawhale payout in the amount of $94 USD.
therising payout in the amount of $79 USD.
booster payout in the amount of $71 USD.
jerrybanfield payout in the amount of $45 USD.

For a total calculated bidbot upvote value in the amount of $1,685 USD.

This information is being presented in the interest of transparency on our platform @jerrybanfield and is by no means a judgement of your work.

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That's a lot of bots in play...

This information is being presented in the interest of transparency on our platform @jerrybanfield and is by no means a judgement of your work.

But I think in this case... It really could be a judgement of his work.

No offense Jerry, but it's sort of hard to take you serious when you have videos telling people to invest just to start circlej*rks and self upvote to earn 2% interest every 5 days.

How does advise like this help build a sustainable investor friendly system? Sure you can make a few bucks for a while but it's behavior like this that will never allow steem to overtake bitcoin. But what do I know I'm just a little old redfish.

The blog post for that video explains that as more people utilize their voting power then the ROI will decline (to as low as the Steem inflation rate which is 9% per annum and decreasing by 0.5% per annum).

It appears to me that the current ROI is about 0.33% per 5 days, and that is 0.58 – 0.67% factoring in that SBD are currently are $3.50 – $4.

In that video you cited, he is correctly informing users that if they don’t do it, they are falling behind others who do it. IOW, he is explaining that the rewards system of Steem is a Prisoner’s dilemma (and it can’t be fixed no matter how it is changed!).

However, I don’t think that 2% compounded is realistic for anyone with significant size. That would be 400+% increase in STEEM POWER per annum! Would be flagged by other whales who wouldn’t want you encroaching on their rewards turf.

I have written a point-by-point rebuttal of @‍jerrybanfield’s incorrect propaganda campaign.

I suppose the purpose of me posting this was to bring attention to the contradiction that one who is willing to r*pe the reward pool by $1.6k via bidbots(when he could have easily promoted it, or declined payout.), couldn't possibly think that this behavior would allow for a long term net positive for steem. That mixed with his history (This video as one example.) of promoting people to "game the system" would leave one to logically assume that he is "gaming us." I thought that maybe I could save someone from wasting their voting power, on what appears to be a shady used car dealer.

Who knows I might even earn my first flag out of this one.

I don't know if the cancer that is eating away at our system is able to be cured, but I still have a bit of hope.

Don’t lose idealistic hope. Others (such as myself) are working on solutions.

One of the reasons (in addition to vested bias I have) of writing about the flaws, is so that hopefully users will not be totally devastated and turn away from the concept. I want people to know that others are aware of the issues and working on solutions.

The project I’m working on won’t be named STEEM though, i.e. we’re not going to fix Steem but rather attempt to supersede it.

Well, keep me in the loop, let me know when you have a name. I'm very interested in this idea, it does seem to be the way of the future. I only have a couple hundred hours invested in steem, so I'm open to the idea of different platforms. Who knows they might be able to patch up this old experiment of a ship.

sustainable investor friendly system?

It may no longer be possible, parasitic greed is now devouring the host and there may not be any cure.

But there are changes that could be incorporated and some of the witnesses have these concepts, yet I do not believe they will ever be incorporated, since the easy money is polluting all reasoned arguments.

I'm going to fight for it just the same.

Blessings!

I will do that same with my small voice.

I totally love the idea of our beautiful community, it is sad to see it slowly die away leaving only spam and rubbish, where there once was beauty and creativity.

Hmm...

Maybe I should make 35 memes about it, seems to be the new language of the day.

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