Spreading the love on Steemit and why it is important for long term scalability and growth of the Community. Spreading the Votes is like Oxygen to the Community..!! Short interview with Matt @Starkerz.

demotruk (69) 7 years ago (edited)

I actually think that self voting has its place at times. Self voting forms a major part of maintaining the SBD peg to the downside.

Currently, only 30% of the value of author rewards is coming from dilution of existing stakeholders. 70% is coming from the SBD speculators, who are undermining the SBD peg. Fortunately as Steem Power holders, we have the power to direct our vote to ensure that newly created Steem Dollars are used to remove Steem from the market. By powering up, you remove liquid Steem from the market and constrain supply. By the law of Supply and Demand, this constrained supply increases the price of Steem.

The price of Steem is what determines how many SBD get created each day. By forcing the price of Steem up, the net result is that there is more money available for author rewards AND stakeholders see a greater return on their investment. Of course not everyone gains, the big losers in this situation are the SBD speculators. The sooner they learn NOT to speculate on SBD the better.

My formula for how much self voting is justified by the SBD price is the excess purchasing power provided by speculators over stakeholder dilution.

At an SBD price of $1, this limit is 0. At an SBD price of $5.66, it's just under 70%. Although it only applies if you use it to power up, and I'm not actually approaching 70% self voting myself.

An alternative approach would be to self vote, purchase Steem and then send it to @null, burning it. However I don't think this is necessary, and it makes sense for stakeholders who believe in Steem to aim to increase their say in the project by using the excess purchasing power to power up. At the same time, people who don't really believe in Steem are doing the same thing for pure profit, or just self voting to cash out. It is not desirable that the stake majority ends up in the hands of people who don't believe in the project.

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starkerz (65) 7 years ago

Love this reply @demotruck, a very logical and well thought out counter argument! thanks! (FYI, I am selling all the SBD i can get my hands on ;)

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gold84 (63) 7 years ago

Hi @starkerz ! This is a great initiative from @stephenkendal ! Very well thought!

What do you think of this 2 Projects, perhaps not in the sight of promo-steem because they did not use the #promo-steem tag !
https://steemit.com/promo-steem/@gold84/promo-steem-2-very-interesting-projects-to-look-at-projects-changing-people-lifes-around-the-world-promoting-steemit-and-the

I will keep looking and discovering this type of projects!

Regards, @gold84

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kartiksingh (65) 7 years ago

Thanks for giving and spreading love in form of votes. We really appreciate your love for the community. I always get votes whenever i commented on your post. I'm very thankful to you for it.

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1 vote

hms818 (61) 7 years ago

I totally agree with your views..so i decided to up-vote all those who comments on my blog...

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bilalawan (47) 7 years ago

This is the great step of spreading love towards all of steemians who plays an important role by spending quality time to make productive discussion on steemit. Well mannered and educated people spend quality time and sharing their knowledge with all community and in return they have right to get UPVOTE on their quality piss and comments. Taking care of those people is really a great move to sustain by giving them upvotes.

We should all do the same to make this platform up to the mark. But there are numbers of people are not like you, they give priority to their posts first by upvoting with 100% weight. They don't care those who do quality comments on their posts instead they are busy upvoting their on posts and replies. It's rediculus but it's harsh fact 😖

But I'm happy you and liek you people are taking care of other and they are HERO near to me. I loved those people who give some priority to others.
Thanks for all of helping out! ❤️

$1.46

sanach (70) 7 years ago (edited)

wow!! This is really great News for steemains, yo're spreading the much more lover for this community. it's really a good things you do a great job. You're took a great step for community and your peoples. STEEMIT is a really better platform who pays you for hard work, success it's all about our hard work and do better things, just like you do. I appreciate you for this step, I hope this love for the community will give you more success and more support. I'm very happy to see this Steemit will be going to at better movement and high level and we believer in future STEEMIT is the biggest social media platform, and more successful InshaAllah! Mine all prayers with you Sir @stephen. You are a rock :) Your love is for @promo-steem and for news couples is very importance for this community!!!
thankyOu for this positive way to for this being community! All the best.

Keep Promoting This Community !!

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yasirmoharkan (51) 7 years ago

wow im really glad to see this interview its just so amazing and so great to know what alll things about it 😄 and you just did very good explanation @stephenkendal...
it's really a true that the steemit is the community which spread love to each other and thet goes on by one to across all over the steemi which really support all the users here can they all can get the benefits, also this activity make a huge value of steem and it's the quality which make the steem and the steemit community so great... keep promoting steemit

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5 votes

luckyalam (46) 7 years ago

This is why we love our steemit community as we keep on spreading love through out all the members of our steemit community...We are strong enough to create our own steemit world in the future and we are moving together by making others to join us and enjoy the journey of our steemit to the great steemit.
All the credit goes to our dedicated and lovely group of expert and promoters who are giving their best to take steemit platform to the higher level and they are doing it by sharing love to everyone.
We are not just earning through love of votes bit we are created world of love too.
I wish long and never ending life to our steemit..@stephenkendal

$1.12

sabazalam (47) 7 years ago

Steemit is a social media where everyone can earn so its important for those with powers to vote those with not, cause social means together “with great power comes great responsibilities “ its the duty of the powerful to support the powerless.there are people here who will ignore the most genuine of coments and post and only vote their post. That’s a misuse of power abd the role that you are given.

As a community and a family we need to support each other in the ways that’s possible here one of which is voting so lets make steemit a even better place. People like you are a inspiration who upvote every genuine comments.thanks

$1.11

syedfahad (38) 7 years ago

Indeed I concur with you,we should spread our vote to the all the steemit userSteemit is an online networking where everybody can win so its imperative for those with forces to vote those with not, cause social means together Steemit is an extraordinary stage to accomplish something in an existence that we should help everybody to get some opportunities.thanky you for this positive method to for this being group @stephenkendal
Thanks you steamit hero@stephenkendal for sharing yours valueable experience,keep sharing sir,God bless you stay happy

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1 vote

dilkash (45) 7 years ago (edited)

Yes I agree with you,we should spread our vote to the all the steemit user..Steemit is a great platform to achieve something in a life that we should help everyone to get some opportunities..i see many steemit user who are high rank they choose to vote themselves 100% and they didn’t vote other..i only see you guys doing spread their vote to other..thanks stephenkendal and starerz sir for your video,

$1.11

arbazalam (57) 7 years ago

votes are a necessity to survive and develop for the community and the people here exactly like oxygen. voting power is responsibility and you can choose how to use it.but its full potential is only reached when you not only help yourself but the others too.

for most of the people here the only way to be earning is by getting votes so people like us needs to be supported by the whales like you,vote is oxygen here and we need oxygen to survive. we need to share love in the community and not be selfish and make steemit a better place.

$1.06