RE: The Good, the Bad and the Ugly -- a Day as a STEEMIT Market Maker
Really glad to see this stuff getting attention.
To me, the whales who rule the waters need to be really, really careful. If they try to get too much out of the goose that lays the golden eggs, they'll kill it. This entire beta experiment relies on the perception of fairness. People are here because they believe it represents a peaceful revolution towards more freedom, in so many ways from expression to monetary policy. What we're seeing so far is discouraging to many as great content is missed and other content receives insane rewards. If the economics and exponential growth kick in so that no one can win unless the top of the food chain decrees it... well, that's not going to be good long term. The market maker part is just one side of it.
Thanks for talking about it.
Well said @lukestokes, I think most cryptocurrencies/projects always come down to the perception of freedom and representation of something that's different which is why the community has its own unspoken rules such as no pre-mining, no pre-distribution of tokens and etc. Whales accumulating liquidity reward by not even providing tight liquidity is something that would hurt the ecosystem in the long term especially for late-comers to come to realization that how 1% holds 99% of the STEEM (exaggeration here but you guys get my idea).
The lack of manipulation for this particular cryptocurrency being a social promotion environment with this platform is critical to the success long-term.
I followed along with the whole article, but that dog pic at the end - those hypnotic doggie eyes - I just can't stop staring at them.
Now what were we talking about?