RE: Falling STEEM/SBD Price - Proposed Solution to the SBD Debt to Marketcap Ratio Problem
as 90,000 more users would actually solve the problem, but in order for that to happen
I agree with you here. 90,000 more users and a way for the system to make money off them being here (adds).
If you look at the price since the July spike, it has been steadily going down. I think you are mainly judging based on that. If you look at the full picture though (including the pre-spike time period), the price of 1 MV has actually still gone up.
This post here does a good job explaining what I think is going on right now. The July pump was not meant to be a product launch with everything ready for mainstream users. It was intended to be an investment round to generate capital to fund projects that are going to fix a lot of the issues you are concerned about. The problem is that there is a lag / time delay from the time they raised the money until we will see the results play out in a fully functional website ready for the 'average user'.
https://steemit.com/steembubble/@dan-atstarlite/why-the-steem-bubble-was-an-investment-round-and-not-a-product-launch
something else, it might not seem relevant, but ... we can't comment more than 6 levels ... what a shitty problem to have!
how come all those super fantastic, superior, know it all whales and witnesses can't even solve a small problem like that? because they're scared of their own feelings!
most whales and witnesses don't know how shame works, they think it's a permanent feelings, which scares the shit out of them, and why they insist in betraying themselves by believing their own lies
while shame is how we learn, it's a very unpleasant feelings, but it's how our brain prevents us from making the same mistake twice ... as long the whales are too scared to allow their own brains to function properly; nothing will change
in other words; the one and only real solution can only come after the whales and witnesses learn to embrace the shame ... only shame can solve this!
I agree. Too many threads get cut short, or you have to find another persons post to reply to, to address the comment that won't allow a reply. It's definitely one of the more irritating parts of Steemit. Is there a reason that they capped it at 6?
because at first authors would also get rewards for the comments on their posts, but max 6 deep
Is there not a way to cap a specific amount of posts to be paid out, but not limit the replies? I can see it being legit trying to limit post rewards after a specific count, but it definitely hurts some of the more interesting convos around here. Thx for the reply.
The reason it is there is because when the original platform was launched, the author of the post actually would get a share of all the comments payouts (to encourage posts that generated conversation). To keep the blockchain math simple, they put a limit of 6 on the nesting of how deep the payout would be calculated.
I wasn't there at the time, so I don't know why they did it - but they did remove this. The limit of 6 is just a legacy "feature" that they haven't gotten rid of yet.
Usually it is not on the whales and witnesses to actually solve code problems with the blockchain and code (although some of them do). The dev team is aware of this issue though, and it is one of the things they are planning to fix.
Where it is at right now is they are trying to come up with a clean design of how to have 20 level deep comments represented on a display that currently keeps indenting after each new comment. They are going to have to make an adjustment to the way the conversations are rendered in the GUI, and they are trying to figure out what the best solution will be.
By the time the site is out of beta, I'd expect this to be fixed.
my point is that 'they' can't even solve a small problem like that ... what hope do we have they can solve the big problems?!
Well if they weren't able to solve it, I would agree with you. They are going to be making a fix though, so I don't see it as an issue. If you have an issue with it not being ready "today", and that it is just something that will get fixed "eventually", then that is a different discussion. It is not a matter of "can't even solve a small problem like that" though - it is just one of time constraints and priorities.
no, what I'm saying is that right now the whales consume 90% of the voting power, which is the main problem, while it would be a much smaller problem if there were in total at least 100.000 users, but ... that will never happen because none of the whales are willing to take any responsibility for their own actions ...
I already read that post; he got a point, but no solution
steemit was meant to be decentralized, but ~30 people control everything and they're so full of themselves that even after months of failure; it's not just the price that's crashing; users are down, posts are down, comments are down ... yet, none of them is willing to ask themselves what it is they're doing wrong ...
this while Rene Descartes already solved what's at the core of this problem more than 300 years ago ... such a disgrace
Curation guilds have a good chance of helping with this problem. If more whales delegated their voting to groups that can take the time to do good curation, then it will be better than someone who isn't a good curator (but holds a ton of power) from making all the decisions on what to do with their power themselves.
There is also a trend (a very slow one, but still a trend) away from the centralization of power. If you look at a 2 year horizon, it probably won't remain this way long-term.
I agree though that if you look at the situation today, that is one of the larger problems with the site/platform/community.
it's not a matter of agreeing or doing the right thing ... those whales need to realize that if they want to see their estimated value go up again ... they need to put their voting slider on 1% and leave it there!
it's in their own self best interest, but ... they're so emotional and short minded ... they just can't accept that they're the reason why they lost millions
why do you think bernie has been downvoting me? because he's frustrated over the millions he lost, but he can't accept that he's one of the main reasons why that happened, so ... he downvotes me ... what a spiteful loser!
https://steemit.com/steem/@luminousvisions/safe-steemit-1-day-voting-moratorium-for-the-whales
if 10% of the whales don't participate; the other whales can downvote whatever they upvote
Interesting. I hadn't thought of that. So I will concede that it would at least work. It will still never happen though.
A lot of whales are actually doing good with their voting, and an even larger majority at least think they are. So in their minds, giving up their voting and letting other people have more control, because who doesn't think they are doing the right thing :)
Also, out of curiosity, if the whales stopped voting it would basically be up to the 'dolphins' as to who got all the votes. What is to say that this group (and the minnows who now also have more power) would do a better job promoting content that was in the platform's best interest?
I'm looking forward to your post were you address the single largest problem TODAY; too many big whales that don't understand all the damages they cause ;-)
https://steemit.com/steemit/@timcliff/dear-whales-and-dolphins-please-read-this-letter
good, let them be selfish, that's not the problem, the problem is that they're very short minded
I don't want them to do it for the greater good or any of that bullshit
they need to do it because that's the only way their value will go up again
if they want to make money ... in the long run and not only a few months to then lose everything, as that's what's happening now; they need to put their voting slider on 1% and leave it there; it's the solution for their problem as well!
that's what they don't get and what you still don't seem to understand; the whales are also losing here, even more so then everybody else while they're the ones that cause that
if they want to stop losing money; they need to put their voting slider on 1% and leave it there
the reason why bernie's estimated value went from almost 10 million to less than a million is because he's voting; he caused that problem himself
so ... if bernie wants to see his shares go up again; he needs to put their voting slider on 1% and leave it there; that's the solution
the best thing that those whales can do to save their own ass is to they to put their voting slider on 1% and leave it there; it's in their own self best interest!
it's not about me having an issue with him ... he has an issue with me, which is why he has been downvoting my comments; he hates the truth and the truth is that he (and those 30 other braindead whales) fucked up steemit
it's about the fact that those whales are way too big compared to the total amount of users!
whenever bernie votes; he takes away from the real users; his votes are skewing the results
and yes; bernie will never accept that he's one of the biggest problems around and that's why the price keeps dropping, people are leaving and steemit will die
I hate to be right about this, because at first I was really enthusiastic, until I realized that there's a small group of people that have no clue how steemit actually works, while at the same time they're ones consuming 90% of the voting power ... it's fucking communism all over again; it's so blatant, yet I'm one of the few who's willing to bring up the truth;
the whales are consuming 90% of the voting power and that's the problem!
if bernie and those other short minded lefties would never have voted at all... steemit would be a real success now; those whales fucked up steemit!
it's all mathematical; there's no point trying to deny it, yet that's all the whales do; denying reality ...
K. I won't get into the you vs. Bernie thing, because I agree it is besides the main point. The main thing is the 90% of the voting power across all the whales. To that, I added a reply to one of your earlier comments.
that's the exact opposite of the solution!!
he didn't bless anybody; he skews the results and takes away the voting power of everybody else and that's why steemit doesn't work!!
the whales have a voting slider now; if they would put it on 1% and leave it there, they can still vote without fucking everything up
the whales are consuming 90% of the voting power and that's the problem!
if the whales were to stop voting (or at max 1%) then other people's vote will finally count, so good posts will get the rewards they deserve without votes from whales, people will have fun, commenting will be worthwhile etc ... but none of that is happening, because the whales can't accept that they're the ones that are now fucking everything up!
the whales are consuming 90% of the voting power and that's the problem!
how many times to I have to repeat the same thing until you finally get it?
the whales are consuming 90% of the voting power and that's the problem!
Yeah, I realized that was in there after I shared the link with you.. I know you have an issue with him. I don't share your view, but I do know he used to be different. He used to be one of the few whales that was actually spending time to truly curate and upvote posts that were underpaid but deserved to be making money. He still kind of does (through Curie), but it is not the same as before.
I see what you are saying. Basically you want the whales to stop using their influence. Whether I agree or disagree with you is irrelevant. It's not going to happen.
Also, the point of my post was basically knowing that there is not going to be a way to literally stop whales from using their influence, the best we can hope for is to make the case for them to use it in a way that we more agree with.
or ... the whales could just stop creating the problem, so there's no need for curation guilds ...
Continuing here due to nesting.
I mentioned it in my other comment, but basically whether I agree with you on this or not is irreverent. The reason is because it will never happen. There are a lot of reasons for this, but here are the main two:
I actually believe that there are more 'good' whales than 'bad' ones who will genuinely do what they believe is in the best interest of the platform over themselves. So let's assume we get 90% of the whales to go along with your idea.
The problem is the 10% that are left. You would actually be giving a 100% increase (1000% actually if you count the n^2 algorithm) in voting power because they will be the only ones with a large stake in determining what posts get huge upvotes.
The worst part about it, is these people who didn't go along with the plan are the exact ones that you would not want having the power, because these are the ones that are arguably acting in their own self interest, rather than handing over their voting power for the good of the community.
do you think that it serves the whales that steemit is crashing? obviously not, right?
they want steemit to be successful, so ... they need to put their voting slider on 1% and leave it there, as what they do now is what's causing the problem!