RE: Whatever: If This Hardfork Fucks Me Over As A Content Producer...
I don't mind the long replies at all. I think an honest post brings out more honesty in others. The place might be in bad shape but it would a hell of a lot worse if we all kept everything bottled up. I already know people don't want to be blamed for their own mistakes in this day and age but I said it anyway. Telling everyone only what they'd want to hear and saying it how they'd want to hear it gets us nowhere.
One of most important aspects of this hardfork is the fact people need to change. Some are pouting. I did my best over the past while to power through previous changes that devastated my blog. I had worked my way up from the bottom, organically, had finally reached the trending page, organically, rewards were up, people were flocking to my blog to see what's up, I had a few more trending posts, then the bots came and that was it, everything I worked for, gone. Some dude with a meme outperformed my work, in his first week here. I knew from that moment, it was over for content producers. I wasn't wrong.
If that's the case then it means the end of me 😕
I chat with another user off the platform a bit, a great content producer, and we often lament the fact our posts are not well-received (and that a meme smashes us) although that user makes twice what my posts make. It is demoralising and not just financially but from an emotional point of view. Write a great post and receive zero interaction because bots don't interact. Still, maybe it's our fault for staying around.
I'm hoping it change's because I like steem the blogging etc. and that there's a little financial reward here and there isn't a bad thing either.
Maybe I should start meming...Hmm, nah that assfuckery isn't for me. I'll just do what I do and take my pittance gracefully and thankfully.
Over was the wrong word, for sure. There used to be a ladder to climb. Bots removed that ladder. The highly motivated and driven individuals, over the span of the past two years, would have shown steady improvement, and we'd have the best of the best hitting the top slots by now, from time to time. That drive to succeed and be the best you can be is gone when there's no destination. I can work for many hours on my art, and as each hour goes by, I already know my work will not be a hit. I already know it won't succeed in advance, and I already know it doesn't matter how good it is. Back when it happened, when I hit those top spots organically, all I wanted to do then was something bigger and better. Even if it never happens to me again, seeing someone else get there, hit the big pay day and get to enjoy the spotlight, that'll be enough to make me feel good. I'm just rambling. Palnet is a good place to be now. I'd have to say I've been a lot more motivated to work harder since there's a place to work my way up again. Looking forward to the crowds.
I agree with you for sure.
A question, is there a benefit for posting via the PAL site? I mean actually posting there? I use planet as a tag in my posts but generally post from BUSY and STEEMPEAK. Been meaning to ask my brother this for a while.
Posted using Partiko iOS
I'm not sure my post would show up in my blog on Palnet if I published it from Steemit. None of my other posts I published before Palnet show up in my Palnet blog. I've been posting from Palnet so anyone browsing Palnet can see my previous work. People browsing Steemit can still see my previous work when I post from Palnet. That's been my thought process so far and I'm not even sure if it matters.
Hmm, ok will have to check it out. Thanks.
Using the palnet tag is enough, on any front-end.
I note that as hard forkery has progressed in the last couple years, increasing financial opportunity for extracting rewards by deploying substantial stake has resulted. EIP will increase the financial incentive to manipulate the rewards mechanism. As encouraging extraction of rewards increases, the ability of the value of content to increase the price of Steem decreases. This further depresses Steem's market cap, and puts downwards pressure on price: capital loss instead of capital gain.
Regardless of how the formula for extracting the value of content deploying stake is tweaked, the incentive to extract rewards from content remains, and this produces capital loss, decline in investment in Steem. EIP increases the potential amount of value that can be extracted, making the problem worse. The solution to the problem is simple: disable profiteering. That leaves only capital gains as a means of benefiting stakeholders and only actual curation (the promotion of content, users, or relationships judged by users as worthy) as a reason to upvote.
Given that extant substantial stakeholders are those profiting from the extant system (it's their current business model and is working for them as a means of increasing their stake) it is easy to see why EIP - rather than any mechanism that will promote capital gains - is being deployed. If I am correct about the problem and why it's happening, substantial stakeholders will increase extraction of rewards, the price of Steem will fall (all else remaining equal in the larger market), Steem will hemorrhage more users, and Steem's market cap will decline. Personally, I expect a significant move in all these metrics and that the exodus of substantial stakeholders will begin in earnest as Steem profiteering ROI is reduced to the point that other opportunities for profiteering will be more attractive. Steem at $.03 will probably eliminate almost all substantial stakeholders in a fairly short time.
If all those metrics instead move to the upside, I will be proved wrong. Does anyone really expect an influx of new users when the rewards potential for content creators is cut in half? Will creators now hanging in here stay when the profitability of bidbots is increased and even more delegations to them are encouraged? I find all the arguments put forward to support EIP either naive or disingenuous.
I am looking past the crash I expect to what will happen thereafter. What I hope is that the tattered remnant of users that refuses to abandon Steem will grasp that profiteering isn't curation; that content is the marketing department of Steem; that capital gains are what has encouraged investment since prehistory, and that Steem will finally limit the ability of substantial stake to extract rewards so that they are able to benefit creators for their content and deliver that value to the price of Steem and produce capital gains.
If that does happen in the aftermath of the economic feeding frenzy that will follow EIP's introduction, then it's not game over for Steem at all, but it's actual birth into the real world of functional financial incentives to meet the goals set forth in the white paper. Then the excellent blockchain and premium use case of social media will finally be unleased, and Steem will moon. Steem is a better currency than BTC, ETH, or almost any competitor on the market today in terms of technicals (if not all competitors), and social media has been proven by the FAANGs to be the most profitable business model in the world today. If profiteers extracting almost all rewards had not made capital gains impossible, I believe Steem would be in the top 5 cryptocurrencies on CMC, and when the appropriate code is implemented, I am confident that will quickly occur.
This is a slim hope, since if I am right, the value of Steem will soon plummet after the introduction of EIP, and the possibility of Steem remaining viable at all will be extremely slim. I am not an optimist, neither a pessimist, but a pragmatist, and history shows that such crashes are but rarely survived in the business world. I'm here still because hope springs eternal, I don't care about my personal wealth, and find the censorship resistance potential of social media blockchain compelling (despite misguided censorship ongoing on front ends. The downvote pool that is included in EIP will make that problem horribly worse overnight. It may be the best recommendation for restoring extant code after HF21).
We'll see what happens.