Is HF20 going to make Rich Richer and Poor Poorer? [BOUNTY POST]
I have been observing the Steem Platform for the last 2 days, since the HF20 happened.
One of the major updates with this new release include the concept of Mana bar and Resource Credits. After spending some time understanding these, how quickly it regenerates and how it affects one's activity on the Steem blockchain, I feel that the ones with low Steem Power have less chance to vote, comment or make a transaction, while the bigger fishes have better chances.
With more Steem Power, they get more privileges, while the small ones get lesser chance of progressing ahead. I honestly feel that this will make the Richer Rich and Poorer Poor. The ones with High Steem Power will be able to make themselves more active and grow at a much higher pace as compared to a small Steem Power holder who will have to struggle everyday to post 1-2 comments or earn curation rewards through upvoting.
What are your thoughts on this?
I have put up a bounty of 2 SBD on this. Looking for your honest and factual thoughts.
Dear @rjoshicool, of course i agree on your post and i made the link f your of my last one. Now i will no more spend my RC to comment into Steemit platform and i will use it only for keep in contact with you and all my friends of @steem-bounty. You know there are really diametral opposite position between those 2 platform:
So where i should stay?
I am not as negative. Small accounts can make a reasonable amount of comments and as soon as you reach 50sp you can already do almost anything you want.
And if this ever changes and new users will stop coming to steem then the rich will get poorer because the entire platform will fail.
Therefore no, the rich will not get richer and I hope steem will continue to serve small accounts well.
But the people with higher Steem Power are getting ability to be more active on Steemit and perform more operations as compared to new people. In addition to that new people have less chance of getting upvotes and recognition as the bigger ones.
I agree. But there will either be a solution for that or steem will fail as a platform. The rich cannot get richer when the poor struggle. That only works when there is controll or force which does not exist here.
I have different thought other than yours.
I have 227 SP and 471,537,116,425 RCs. So I can make 300 comments. I don't need that much comments.
They are trying to stop the spammers. The are making 1000+ comments using partiko app.
With this current steem price, Only 4 Steem/month for 240 SP. Steemit need investors so they are forcing the steemians to buy steem and vest as SP. This would be good for future.
For whale they don't need RC that much so there may be RC market later on I think.
I like this idea because I will no longer see spam comments.
It can solve only with 2 steem now. You can get 35 SP from blocktrade.us with 2 steem for 3 months. It is enough time to grow your SP.
Steem needs a better system than the old bandwidth method to manage the network resources. Usage of Steem blockchain will likely increase a lot when Smart Media Tokens are launched.
Giving the same amount of RC to every account would make spamming very easy by creating multiple accounts. The most effective way to reduce spam is to make it expensive.
Reducing RC amount when reputation is below 25 may help a bit at reducing spam, although the reputation system can be exploited easily.
It is very important to make sure than new users have a decent amount of delegated Steem Power so they can have a decent experience, and during enough time to let them earn some SP.
I think the goal should be allowing every user to be able to post at least 5 comments or 1 large post per day.
Posted using Partiko Android
Well, I think folks with large SP holdings have always been able to do more than those with little SP holdings
I'm not saying its fair or not, I'm just saying how it was pre HF20. With the RF model in place, I think they are asking that everyone invests to make the Blockchain work. I'm not an advocate of Steem but imagine everyone feels the need to buy Steem to power up. It means there will be less Steem to sell, pushing the supply low and demand high.
The downside to this is that folks with little money will have to struggle for a while. I'm not sure if most people will be able to do that
The main point for now is that they are trying to get the balance right where the smaller accounts have enough RC to be active without giving them enough to spam. The balance was off at the start but then they have increased the allocations so that everybody can get back to normal. From some of the witnesses that i follow they have admitted that it was a bad hardfork and should have been tested better to avoid this rough period. It will take a while for the results of this to come out over the next couple of weeks but the theory behind it is sound.
I read one great article that compared it to driving your car on the road. Should we all be taxed the same amount to use the roads or should the tax be added to the cost of fuel so that the people who use to road more will pay more.
There is a cost to using the blockchain so it makes sense that the people using it the most have to pay the most. These are the people who have SP that have either earned it or bought it. The key to this in my opinion is letting new accounts have enough RC to start building themselves up.
Personally speaking i wasn't even very active starting off as are most beginners so a small amount should be sufficient. Not 2 or 3 posts a day but 20 or 30 plus votes. I've been active all day and haven't dropped below 100% at all.
I fall within the lowest set of SP holders on steemit. Those of us in this category are badly hit by the aftermath of this recent HardFork. It has been a direct product of the calculated effort to mitigate spam and we understand the necessity but the downside is the obvious threat on small accounts which I'm one.
In all, however, HF20 is a welcome development and I think it gives us more to discuss about than RC. And if it has to be RC alone, we can talk more of the good changes it is capable of bringing to the system while addressing the ills.
For instance, I would not have dreamed of investing in STEEM in the next one year if not for RC effect. The introduction of RC has made me realize how much I love this platform. I will not like to run out of RC, so I will rather buy Steem and simply power up since the Steem remains mine and I can power down and sell at anytime – hopefully, when the price appreciates.
I object to the presumption that RC is aimed at making the rich richer because what stands so obvious to me is that it will significantly drive demand while promoting asset retention.
Like me, thousand of other small accounts will seek to scale up, thereby increasing demand. Secondly, people will no longer be quick to sell off their earning as they used to, knowing that bandwidth is a factor now. This will result to a fair scarcity of the currency, leading to better value.
Actually, some people may not be here for investment and that is fine too. From the latest patch, even the newest accounts can comment as many times as 18 within a space of 5 days. I think that is not a bad starting point for someone who wants to build their account from the scratch without injecting some money. What this will do is that it will keep them from making comments that do not add value to the ecosystem.
I also think it's about time our developers start considering the adoption of ad revenue mechanism. The ovation is high already and companies may have been waiting for the opportunity to market their products and services via STEEM's various platforms. This, I think, is a good way to incentivize quality contents and encourage newbies.
@rjoshicool has set 2.000 SBD bounty on this post!
Bounties are a new way you can earn rewards irrespective of you Steem Power. Go here to learn how bounties work.
Earn the bounty by commenting what you think the bounty creator wants to know from you.
Find more bounties here and become a bounty hunter.
Happy Rewards Hunting!
Congratulations to the following winner(s) of the bounty!
Find more bounties here and become a bounty hunter.
Find more bounties here and become a bounty hunter.
Find more bounties here and become a bounty hunter.
Find more bounties here and become a bounty hunter.
Find more bounties here and become a bounty hunter.
Find more bounties here and become a bounty hunter.
Find more bounties here and become a bounty hunter.
You have said it all this will make the rich richer and poor poorer.
I don't think that will reduce spamming.
The HF20 will actually widen the gap between between high and low steem power holder,thereby creating class where i see it to be improper.
When newbie see that they can't get any on steemit they will abandon it and look for proper option.
Though i like the new innovation but it in favour of some and against some
i have to be honest on this one, i didnt read anythign about HF20, but i will and i can give my opinion.
Thank you