The dropping vote value

in rambling •  2 months ago 

When I started here my full vote was around 20k if I recall right with way less SPORTS staked than I have now.

To have that kind of a vote I would need to stake around 3 million SPORTS now.

When I first used the tag the tribe was around a week old and there were 200 accounts and even less accounts were staking.

stake.png

Since then the tribe grew quite a bit and with this also the amount of people who are staking their tokens.

A post with a pending payout over 100k was nothing too out of the ordinary.

As far as I know the same was the case in the really early days of Steem.

More and more people join = less influence for the individuel

The reward pool is getting divided by more people and with this the value of your vote is falling.

We see above that the tribe does not consist of this many people so just 100 new accounts who stake is already a big increase.


This sucks?

No it does not!

Growth is a good thing and something we should embrace. More eyeballs, more posts, more interaction, more fun.

While I think it is too complicated yet to onboard the masses or many people outside of Steemit, I think it is important to have a nice home if it should be easier in the future. Also keep in mind that SMTs are also coming (probably) and I am curious how this will impact tribes.


Since I have joined here there were problems with abuse. From changing tags to receive payouts earlier to excessive self voting.

Some is still going on others seem to have left as they dumped all their tokens and can`t get the returns anymore they were used to or acting in a fairer manner.

At the beginning you pretty much just needed to not get flagged to create a payout most Steemians can only dream about if you upvoted yourself and dumped the rewards afterwards.

This "not-this-crazy-rewards" seem way more sustainable to me.


In my opinion tribes are still in a very early stage and it reminds me a bit of the ICO craziness in 2017.

A lot of airdrops and seemingly free money up for grabs. If this is a bubble or something more is still up in the air.

Hell I even think steem has a lot to proof still but that is a different story.

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With the decrease in vote value this will lead to scarcity in tokens supply and which is good for a better price increase in the long-term

The early users and whale are lucky to have that kind of post payouts. But today is a much more fairer reward distribution system.

My 400,000 Sports before worth around 12000 per vote. Now, it can't even reach 3k. Sad, but thinking the totality of the platform it is good.

Yeah was crazy.

Yeah lucky, right place right time and willing to take a risk

But sadly, price is going down too.

Would love to see the price go up as well but that is irrelevant for adoption. I would even say it helps as people can buy in easier or double down if they want to.

Yeah, that's true.

Yeah I am happy the reward is coming down. It was mad at the start. That's a nice jump in tribe tags.

it was real madness :-)

I agree. This is still early days and the more users the more the rewards are shared out. I think the real users will stay and the whole site will grow.

I think so as well.

The dwindling upvote value will surely continue but the good news is that it's later going to have a positive effect on the price

yeah quite possible.

Yeah growth is something we should embrace, we can't avoid anyone abusing the system anywhere you go there are people like that but thanks to this article of yours even a single person might open their eyes and see the truth its a win for me

downvoting helps a lot stopping people from abusing and I encourage you a lot to use it

I remebered how I contact a friend of mine on this high cite value and he explained it all to me like what you just said, so the decrease wasn't a surprise to me anymore.

sounds like a smart friend ;-)

Good point, I think that time will heal many things in Steem ecosystem.

let us hope so

That is great news IMO. You have already covered all the points which are important so better if I shut up:)

Well, put together @flipstar!

This is what I want. Less supply of tokens will increase demand and ultimately increased token value.

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Yep, I do miss those days, but I was prepared for this so I wasn't shocked when it kept happening. Now hoping that in due time I'll be even more rewarded for not selling those tokens.

the market has a way of at times correcting itself regardless of how teeth grinding it can get, glad you addressed this because I powered up 10k and then saw my vote dropped and was like..ummmm, but that will happen unless you stake huge amounts which also is a big gamble/risk....both strategies can work but it will cause mucho butthurt in the process :( nice and real straightshooting post