Without some significant changes in the near future to how the reward pool is managed and divested, Steemit as a platform will be replaced by a better model. Things like dead whales and auto voting are going to give newcomers to the platform a bad taste as they discover that the barrier to entry is so large. The sad fact is that this entire platform is dominated by a very, very small minority of users. In essence steemit has become an exact replica of the fiat system that we cryptothusiasts want so badly to revolutionize.
Voting is such a huge part of the system i think it'll be hard to change. But definitely worth looking into. I agree the initial user experience doesn't give the impression of fairness.
It doesn't give the impression of fairness because it isn't fair. Perhaps what really needs to happen is a change to the way that voting power is determined. Say, the longer your STEEM is powered up, the less actual power it holds. Think of STEEM like a battery that needs to be replaced through the execution of content creation. In order to maintain a steady flow of STEEM Power, one has to continue to add fully charged batteries to the battery bank or the entire set of batteries will run dry.
I deeply want to see Steemit succeed, but I'm afraid it is currently at risk of being supplanted by a better designed model if significant changes aren't made soon. If you're at all interested, check out my latest blog post here on steemit for a full account of my reasoning.
I like that battery explanation on steem power, as a newbie in addition to finding what post ill write its a bit too much also to understand the platform maybe thats why a lot of new users get so confused
how do you think or your prediction about bitcoin price in 2018 whether it will be increasing or going down.
I just want to survey some people's opinions
change is way of being in the market .which shows that steemit is gonna be a best social platform in the future where peeps will get connected with earning some bucks.
Hey Michael, It's great to see you talking about Steem in detail.
One of the first things I proposed was getting rid of SBD for the very same reasons you mention. The people need the orientation of the dollar value, was what I was told back then, but this argument does not hold up anymore.
However I have been thinking latelsy that Steem and SBD have some pretty interesting technical/financial perks in the way they are issued:
Steem has a high market cap but there is not a lot of liquidity in it.
SBD gets used by many (to cash out profits on exchange) but has a low market cap.
The German people in the #deutsch community are right now talking about changing the vote algorithm. I dont like it because it will make things more complicated again. They want to merge n² and n....
I like your crypto video analysis the best out of all the other ones I subscribe to..
Without some significant changes in the near future to how the reward pool is managed and divested, Steemit as a platform will be replaced by a better model. Things like dead whales and auto voting are going to give newcomers to the platform a bad taste as they discover that the barrier to entry is so large. The sad fact is that this entire platform is dominated by a very, very small minority of users. In essence steemit has become an exact replica of the fiat system that we cryptothusiasts want so badly to revolutionize.
Voting is such a huge part of the system i think it'll be hard to change. But definitely worth looking into. I agree the initial user experience doesn't give the impression of fairness.
It doesn't give the impression of fairness because it isn't fair. Perhaps what really needs to happen is a change to the way that voting power is determined. Say, the longer your STEEM is powered up, the less actual power it holds. Think of STEEM like a battery that needs to be replaced through the execution of content creation. In order to maintain a steady flow of STEEM Power, one has to continue to add fully charged batteries to the battery bank or the entire set of batteries will run dry.
I deeply want to see Steemit succeed, but I'm afraid it is currently at risk of being supplanted by a better designed model if significant changes aren't made soon. If you're at all interested, check out my latest blog post here on steemit for a full account of my reasoning.
I like that battery explanation on steem power, as a newbie in addition to finding what post ill write its a bit too much also to understand the platform maybe thats why a lot of new users get so confused
Great think man do it.....
how do you think or your prediction about bitcoin price in 2018 whether it will be increasing or going down.
I just want to survey some people's opinions
steem has been super laggy for me lately :(
Yeah, was worse last month. hopefully they can improve that
very good suggestion at least you are think of improving the community,highly appreciate it ... keep up the good work.... ;-)
this is awesome
change is way of being in the market .which shows that steemit is gonna be a best social platform in the future where peeps will get connected with earning some bucks.
This is nice....this will help steemers inprove in the way we post.....thanks for the intel
Hey Michael, It's great to see you talking about Steem in detail.
One of the first things I proposed was getting rid of SBD for the very same reasons you mention. The people need the orientation of the dollar value, was what I was told back then, but this argument does not hold up anymore.
However I have been thinking latelsy that Steem and SBD have some pretty interesting technical/financial perks in the way they are issued:
Steem has a high market cap but there is not a lot of liquidity in it.
SBD gets used by many (to cash out profits on exchange) but has a low market cap.
The German people in the #deutsch community are right now talking about changing the vote algorithm. I dont like it because it will make things more complicated again. They want to merge n² and n....