I think the EIP doesn't make sense. the most important now is to attract more new users into steem. This proposal doesn't seems newbies friendly. the author reward is too low, new comers can't benefit from the increase curation reward since they have little steem power. This only benefit the old big whale. And the only purpose of EIP is to discover 'good content'. but only the few large SP holders can do that. It's a paradox. Good content for someone, may means nothing for majority. And most importantly, steem is a currency not a blog platform. the value of a currency is coming from consensus of people. The more people join in the more value a currency have. "good content"obviously not a good thing to make consensus, since different people have different appetite. Wrap up. This proposal simply about how to distribution interest. our Chinese have a saying" make big cake first, then discuss how to divide the cake".Look at the price of steem. is the cake big enough to be divided? Hope this proposal to be rejected.
Posted using Partiko Android
If the steem ecosystem would be somehow destroyed, who would lose the most? The whales. Who are most of the whales? The top 20 witnesses.
I think it's safe to say that especially the whales have a huge interest in the steem ecosystem being able to grow BIG over time. And that is only possible if the userbase grows and if the new users are able to make their cut. They know this fact.
Maybe this new proposal benefits them them most in the short term, but they also face the biggest risk of ultimately loosing hundreds of thousands of dollars of their investment.
So assuming they want to screw the average joe for maximizing their profits makes no sense, because this is not possible. If they fuck it up, the price will be 5 cents in just a few weeks without ever recovering. Nobody wants that.
I totally agree with you, the new ones never. It will benefit them and as they will always leave, what they will bring is that they will finish killing what little life is left of the platform.
If the steem ecosystem would be somehow destroyed, who would lose the most? The whales. Who are most of the whales? The top 20 witnesses.
I think it's safe to say that especially the whales have a huge interest in the steem ecosystem being able to grow BIG over time. And that is only possible if the userbase grows and if the new users are able to make their cut. They know this fact.
Maybe this new proposal benefits them them most in the short term, but they also face the biggest risk of ultimately loosing hundreds of thousands of dollars of their investment.
So assuming they want to screw the average joe for maximizing their profits makes no sense, because this is not possible. If they fuck it up, the price will be 5 cents in just a few weeks without ever recovering. Nobody wants that.
I tell you everything will be lost, because the new ones will not benefit. Since it costs them a lot to have good profits, the platform you must devote a lot of time so that they can see and many, they are for the benefits they can get with this I think nobody. You will sacrifice your time for a little profit, look at the boom of 2017 when the steem came to be. At 10 dollars we were many and they entered more and more each time, since you promote the platform and see that they do not have remuneration they leave or get bored. I think you should see other platforms where you have much more remuneration and keep their users.
Despite the logical assumption that the greater profits available via capital gains will incite whales to act to create capital gains, the history of Steem reveals the opposite to be true. Whales compete against each other to extract rewards and increase their stakes relative to the others. The extant code discourages investing, and encourages that profiteering instead, and this incites capital losses rather than capital gains.
Nobody wants Steem to plunge in value, but that's what EIP will cause, and whales have proven unable to agree to limit rewards so that they cannot be extracted by substantial stake. They are each acting in their individual interest, rather than as a community; competing for rewards rather than cooperating platform wide to create capital gains.
Powerdowns of millions of Steem are ongoing presently. Whales are preparing to sell their Steem before it plunges after EIP is deployed. The extant code simply too strongly favors extractive profiteering over inciting capital gains, primarily by enabling unlimited rewards to be gained by the VP of substantial stakeholders.