Direct from the desk of Dane Williams,
This is not your average forex broker blog.
Being just a humble content creator, I'm certainly no blockchain tech-head and quite frankly don't understand or care for the details around what happened.
There's obviously a tonne of what, why and how content from witnesses and developers actually involved in the hardforks, so if it's something that interests you, then go through the #newsteem tag.
It's all there.
I do however, have an opinion on some of the changes and what I think they will mean for both myself and Steem as a whole, which I go through below.
50/50 Author/Curator Rewards
I'm a content creator, so of course I'm not totally stoked with this change because I'm going to earn less money from what I write.
I understand that for the value of STEEM to increase, you want more of it being locked away as Seem Power. By changing the curation reward value, you're giving more incentive to users to power up their Steem.
If you're taking away the incentives for quality content creation, then we're just turning Steemit into a cesspool of garbage. Therefore, it doesn't matter who's curating the content, because it's all shit anyway!
We're meant to be primarily a social media platform that relies on quality content being created. It is THEN organised by curators and sent to the top where it will get the most eyes. If the quality isn't there in the first place, then there's no point in even having curators.
This makes it a fair enough concern if you ask me.
What I'm really worried about however, is the change to the reward curve and how much it will discourage smaller accounts. When we're talking about trying to decentralise and not give all the power to the top 5% like in other companies/blockchains, this change could really hurt Steem.
There's a lot of unanswered questions here, but they can pretty much only be answered on the run by the response of creators, curators and readers on Steem.
So now we wait.
Downvotes not sucking away your VP is however, a great move for Steem.
We can instantly see that the Trending page looks completely different to what it once did. This is purely because the community has decided that they're going to target those who abuse the reward pool, by an overzealous use of bid bots on trash content.
I've never agreed with bid bots, but understand that in a free market like Steem, if there's an advantage to be gained, then someone is going to take it. I just love that the community has taken it into their own hands with free downvotes, and essentially trashed the bidbot business model.
Keep an eye on the Steem Whales clean trending page in order to easily see who shouldn't be there, thanks to bid bot abuse. I've been using it a bit and it does the job.
I do know however, that shit is going to hit the fan when some petty cunt with a tonne of SP, doesn't want to be told that there's a bigger picture at play here, and downvotes all your posts for the next month in retaliation...
It's going to happen, we know it is. But what are we supposed to do when it does? Your account can get completely destroyed if you piss off the wrong whale.
Again, we have to just and wait see. There's really nothing else we can now do.
Best of probabilities to you,
@forexbrokr | Steemit Blog
Market Analyst and Forex Broker.