RE: Selling delegation, becoming voting bots, in the middle of whale wars. Where did all the human curators go?
Steemit was never perfect. It started out as an experiment and it's a wonder that it lasted so long.
Ive contemplated so much on the issue and it seems my small mind just can't think my way out of the Steem power abuse by people that wants to outright "maximize profits". Just like shareholders.
However if there is hope, it will be in 3rd party apps and communities that springs up around the Steem Blockchain.
I believe future self voters / bid bot farmers won't be as much profitable when there is more activity on the blockchain. The sort of "earnings" we see now are not gonna last for long (assuming steem price does not go up). We are experiencing a huge time arbitrage and it won't last long. The reward pool is capped whereas the potential participation is uncapped.
Governance is tricky, how much can we control how people can vote or use their stake before we must stop calling ourselves "open permissionless decentralized platform"?
Interesting.
Would I be right in thinking the following?
At present the 100 highest SP accounts (or the one's that are active and/or have delegated SP to bots) of our approx. 65,000 total active accounts, collect a lot of the reward pool. The same top 100 accounts, when they are in a total participant pool of say 1,000,000 active accounts, will be collecting less of the reward pool than they are now
Actually, when you put it that way, it's in the interest of the most vested self-upvoters to make sure participation doesn't grow too much.
Yep.. But the value of steem lies in the utility that comes with greater participation/adoption, and so though it seems so in the short term, they are killing their portfolio in the long term.
It's actually in their best interest to earn less from the reward pool but have their holdings increase in value as adoption drive the price of Steem.
If only these people are willing to see it that way.