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RE: STEEM price might double next week! Liquidity Awards to be temporarily suspended - new supply of liquid STEEM to be reduced drastically.
clearly STEEM isnt perfect, yet it is the best decentralized social media solution ever made. Continuous improvement is the key and if the whales ignore the best path, then and only then will STEEM itself be in trouble. So far, it is creating an environment of intermittent positive reinforcement. Not sure if this is by design or accidental, but it is the most effective form. If you always succeed you get complacent, if you never succeed you get demoralized and give up. If you occasionally succeed, then you avoid the demoralization and are always working to do better, so you never become complacent.
As frustrating as it is that all my posts dont get $1000+, I think if it did, I would get lazy and start posting pictures of my cat
I'm not so sure I agree with your sentiment regarding success. Personally, I think after trying things for long enough you expect to be successful at something. Counter-intuitively, only when you believe you'll become successful do you reach success. Working harder doesn't necessarily mean reaching success any faster, but working smarter is the key.
Having said that, my concerns with the enormous whales on STEEM is how their power can be used to guide the platform in a direction that personally benefits them. This could be done simply with voting power, but I imagine eventually these whales will be able to move the entire market. That's where I take an issue with having whales. The idea is that decentralization of power is more representative of the people that participate in the system. Concentrated voting power held by a few individuals can be corrupted all too easily. This mistake has been made many times by many human civilizations, and I'm surprised more people on STEEM haven't taken issue with this. Of course, not all the whales are bad, but people can be easily swayed if you know the type of reward their brains crave.
it is a risk factor, but compared to fiat systems, the concentration of power is not as bad. also if the plan to distribute 80% to new signups is completed, then the whale problem becomes much smaller issue.
remember steemit is on the young side and as long as each month we see improvements, then there is no danger
Good points, thanks for your replies