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RE: Was the Launch of Steem a Scam or the Only Legal Way? - Thoughts on Steem by Charlie Shrem a Week Later
Good points! My only grievance is the difficulty it takes for a minnow to ever see rewards for the content they contribute... It is supposed to be all about the content but it really is a giant popularity contest...
Minnows can always buy more Steem Power and become whales.
if you have $100,000 to invest, I think you would be a dolphin
You can be a small dolphin for just a few $thousand. 10 million vests puts you in the 1%
That's true but the amount of Steem Power you need to buy at this point to be able to make a noticeable difference seems to be quite a bit more than it used to be.
Buy how much steem power? and how much will that steem power be worth in 1 month, with 28 out of 30 top whales all dumping Steem for Fiat/Bitcoin?
Yea Dan and Trace will sell you some! Get on Poloniex and buy their orders! Otherwise they will never be able to exit their position. We know Steemit is a LONG term play right Trace?
Good point...
To understand the whale, you must understand that they vote for growth.
This will be necessary for quite some time, perhaps indefinitely. Once a strong pool of dolphins (millions) build communities based on providing quality content, the whales can go about their daily duties of promoting growth whilst minnows get paid for by those dolphins and the many others who have an average stake in our community.
There is much anxiety going around here, I get very edgy about it too. But I have so much to learn from others here, there are heaps of smart people in the crypto world.
I agree that right now it is, but thats all going to change and the rewards will be better distributed.
Really? How do you know this?
I guess because the majority stakeholders are selling as much as they can and so are redistributing their tokens to others who want them.
mexbit is right.
the whales have now opened multiple accounts, and distributed their power that way.
It could change today, but it doesnt, If you read the white paper, you see it is the way it is designed to work. Why would they change that.
It is all about the popularity at the moment, that does after all bring in many more people. But hopefully things will improve (not necessarily financially) in time, Steemit is still in beta.
I keep seeing that "steemit is still in beta" so is bitcoin after 7 years. I dont think that really makes the trickledown economics any better.