Ode to Haejin - bad poetry for (in my opinion) bad TA
image from unsplash.com by Chase Clark
Technological Astrological.....what's your star sign?
Study the charts,
Keen eye'd and full of technowledge.
Signs abound,
They're all around,
A mess, a mockery,
Invisible to most,
You're toast.
High to low, low to high,
So fast they fly,
But nothing escapes,
The lines in my eye,
No Sir.
How do you feel?
Lost?
Let my light in your dark,
Feel me?
Feel my future powers,
Trending and guiding,
Evolved as a shark,
Blinding.
Standing head and shoulders,
Above the boulders,
No bullishshit here,
There's Elliot's bottom,
Right there,
I care,
Wave three bye bye,
And spit in their eye.
Feast on my technologicals!
I crave other fare,
Fish in a barrel or steem in a room,
Can't curtain this wizard,
Where's your magic broom?
Things change every day,
Every day something to say,
Mesmeric music played with triangles,
No need for the piper's pipes,
Rat A, B, and C,
They all just follow me,
Never seeing the blood red,
Until they're all dead.
Monstrous volatility,
Makes me dam happy,
Steem up, Steem down,
Mental magic agility.
And as I drain the main vein,
Nothing makes sense,
Nothing is sane,
I can hear that creepy laughter,
Because it could be mine,
It scares me for some time after.
I simply cannot stop,
Unlimited power to be used,
Just too dam tempting,
With resistance so confused,
See the riches flowing!
Each and every day,
No regret here,
It's you that will pay and pay and pay.
My intention here is not to completely demonise Haejin, he's not alone in producing a high volume of repetitive garbage and not alone in abusing the steem reward pool (in my opinion.) I disagree with what he and his supporters are doing, but the fault lies primarily with the distribution of Steem and the miss-aligned incentives that govern the Steem blockchain. The fact is, there are not enough whales who are prepared to continually flag haejin's posts down to a more reasonable level because it costs them too much. One important reason is because Steem is far too concentrated. Another is the incentive model itself.
I hope this poem, that makes mockery of Haejin's "technical analysis" and his use of the Steem reward pool, will make anyone that comes across it, at least stop and think about the situation. Is haejin's contribution worth the hundreds of thousands he's been paid? Is his contribution of high enough quality when compared to the contribution of thousands of other accounts? If the answer is no, then Steem has a serious problem. There is a grotesque miss-allocation of capital going on which is causing serious adoption and investment issues. Steem is doing ok on the face of it perhaps, for some, but it could be doing so much better.
I believe the solution is to put a massive amount of Steem Power into the hands of the Steem community, entrusting hundreds of community elected curators to deploy that power to combat 'abuse.' The definition of abuse would be defined by the community and the curators would be held accountable for their adhesion to that definition. The only source of Steem large enough for this and with an outside chance of being deployed in such a manner, is that held by Steemit.inc. The steem held by steemit.inc was always mean't to nurture the Steem blockchain and to support the fledgling community, what better way is there to accomplish those goals? Most of Steemit's SP is currently idle and serves mainly to put off many investors. I urge you to urge Steemit.inc to supercharge Steem and the steemit community. If there is a reason this idea wouldn't work, i'd love to hear what it is....
Happy Steeming
Well it seems like part of what's allowed it to go on for so long is that he has the backing of one of the biggest whales on the platform (at least to my knowledge).
On the subject of technical analysis, there is some truth to it, but it's not gospel. It's simply a tool and I think there are definitely folks who put way too much stock in it--particularly elliot wave theory, I see a lot of that on here and not many other methods.
From time to time I like to post charts but I like to use simple resistance and support levels, RSI, Bollinger Bands, and a couple of other tools I used back when I dabbled in day trading (stocks, ETN's, options, etc) for awhile. And I don't use the same format for the post every single time or post 10x per day.
Hell I think there's been maybe one week since I've been on steemit that I've posted 10 times in the week. But I have a full time job and a family and hobbies and....well you get the picture. Plus I don't usually author unless I have something I really want to say and have the time to put into a unique and at least somewhat quality post.
Nice poetry btw :)
I appreciate your comment and perspective. I certainly don't think all TA is pure nonsense and if used appropriately, with the appropriate context, then I'm sure it can prove useful. My issue with haejin is the frequency and level of reward in addition to the fact that I believe his analysis is generally quite poor.
The greater issue is a balance of economic incentives within steem and steemit. I hope one can be reached. I wish you all the best :)
Yes the frequency and the seemingly standard template used are definitely 2 major issues. I don't have a problem with using a post template but using it that frequently is kind of questionable at best.
Kind regards to you as well.
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I should make my own version of this kind of literature-propaganda.
I'm not sure I understand what you mean. You want to write poetry and bring attention to an issue?
Exactly. I mean this issue has gone so far that everyone in the community became tired in dealing with it. It's time to add some extra spiciness without getting any flags. lol
Ah I see :) Well I hope this helps. I don't care if it gets flagged just so long as it inspires discussion and the will to do something that works for everyone.
A hardcap on payouts and the old 4-post-per-day would ease the situation.
I think those might create other problems. A hard cap on payouts in theory places a limit on the quality of a post. It might also act as a disincentive to hold large amounts of Steem Power.
The number of posts isn't the issue and it's nice for people with more to say or who are using short form comms like Zapple, to be able to post more. The issue is that rewards need to be commensurate with the effort or quality/value.
On it's own it will never be. Posts will never be rewarded equally or right. Without limitations people like haejin won't go anywhere, while "poorer" folk won't see a difference with limitations.
Maybe the best thing would be a daily earning cap. You earn into a buffer from which you can transfer 100$ worth of Steem into your wallet daily. That will meet most peoples needs while scaring the abusers away... maybe. (like claiming earnings, but you can only claim 100$ worth per day)
I don't understand language! But good write.
I totally agree! I feel there are so many minnows who would love to take their curation to the next level. I persanlly spend a load of time reading articles, leaving comments thought out and relative. And scan the "new" feed all the time looking for juicy posts.
Yet all I see is the issue you mention above. The same whales posting the same stuff with no actual effort and is it even original?
Spreading some SP out to some of the loyal minnows trying to make this platform huge would be of much benefit to the whales anyway. It is us, who make this site grow.