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RE: Whales - Can the community buy out a portion of your influence?
I'm not a whale, but I don't particularly like the idea. The reason whales have more influence is that they have more at stake (i.e. skin in the game). Their large holdings give them incentive to prioritize long-term steem value over short-term rewards. Minnows and dolphins don't have as much incentive to encourage long-term thinking.
IMO, especially with the price of steem as low as it is, the proper way for minnows or dolphins to gain as much influence as whales is to invest more time or money into the platform.
People do facebook and reddit for free. Even as minnows, we already have more of a voice than that.
Keep in mind that 250 MV is still a lot of stake. Someone with 250 MV is going to have a lot more say than a minnow or even moderately large dolphin.
If someone is going to buy/earn that much SP (about $16,000 at today's prices), I'd say they have a good amount of skin in the game.
In the end, if it's implemented, any whale who doesn't want to agree to those terms will just split his/her holdings into multiple accounts, so I guess it really doesn't matter much anyway.
True, they could do this. The idea is to incentivize them not to by paying them additional interest for their SP.
Yes, Tim ,but where are the grown-ups?
The asylum is run by the inmates ;)
Right but I don't think many would. Mainly they want the price to go up.
@dennygalindo, the bad news is that it is overpriced
I could not disagree more. The reason why steem has got to an all-time low is because of Whales. The people who are being responsible and trying to get this wonderful idea with dreadful leverage back on track are the people who actually make the effort to create content and not abuse the system. Who else can possibly be responsible other than whales?
There go several more voting bots!
When steem launched, its value was 0. It's not even close to an all time low. It is infinitely higher than it was a year ago. And you don't get to just assert without evidence that the reason it's low compared to July is because of "Whales." What does that even mean? Where are the studies and data that led you to that conclusion? Maybe its low because people have trouble with key and wallet complexities. Maybe it's low because of dissatisfaction with the UI. Maybe it's low because every third post is someone whining - yet again - about the steem drama of the month.
As to bots, when you're done with that crusade, maybe you can go convince Google to replace their supercomputers with an army of humans to populate their search rankings. Only humans can rank pages for search indexing, right? And maybe we can get Neflix to shut off the AI and use humans to create their movie recommendations.
I have just checked - you really do not know a thing do you - who whined? When you make a comment in a discussion like this, do not do it out of ignorance. Have you heard one whale making any comment about what matters, other than their balance? No, because of course they are culpable. A magnificent idea with a dodgy system of leverage, usurped by myopic, greedy people. How many subscriptions, how many accounts. Go read all about it in the digital forums - you will soon see.
The truth gets shot down whilst the gunners position is on a retreating sandcastle and the tide is coming in ... I have done the mathematics and it does not look good. Sycophancy will ensure a Myspace conclusion. I am just man enough to tell it like it is ... go on shoot all you want!! You will find blanks in your magazine.
It would be good to try and keep the debate about ideas and concepts, and not make it personal. I've found that most people here are pushing for what they view as best for the platform. At the end of the day there are right and wrong views, but people arguing bad ideas are not necessarily bad people.
I agree ... to put a smile on your face ... 'he started it, sir!'
You have absolutely no idea what you are talking about ... get educated ... who can be blamed for this absolute mess other than the people with the power - I bet you are one of the greedy ones who intravotes incessantly to try to hold on ... grow up!
Maybe you should name names and point to specific bahavior of the whales you are talking about. I went though about 70 of your submission and personally would not upvote most of them and might bring them down should they reach the frontpage. Steemit is not big enough at this time for you to try posting stuff multiple times a day and expect more than a handful of real people to see your post. Actually you did post some great stuff so I don't know why it didn't catch on, maybe it's lost it get lost in your other posts. As people tend to upvote stuff from people they follow.
Hi there @transisto, thank you for commenting and it seems you had a change of heart mid-stream! I am grateful for the interaction.
I do not mind criticism levelled at me at all. I welcome it as it shows that someone is listening and that they care. The comments which I have made about the behaviour of whales would not be possible if the platform had a system of fairness. My comments are not personal. Naming names is not going to be fruitful and I have been targeted sufficiently by the powerful voters much to my detriment. I am just prepared to stand up and be counted and voice my opinion. There are a massive number who feel the same way but stay silent in fear of the repercussions.
I have done the analysis and it is not pretty. Where else can responsibility for performance lie but with the SP owners. I hope that you do not feel that my analysis and work with a positive attitude towards steemit encourages you to join that throng! That would be a shame.
Yesterday I sent Ned Scott a helicopter view of the platform which I refrained from editing in the name of openness. I also sent him my spreadsheet from mid-December showing the numbers. There are contributing observations to go alongside these. I am happy to send these to you as well. My sense of care towards steemit does not have a pride - it is real.
I am not some young discontented soul! I turn 54 in a few days time. I have run public companies, blah blah. I have also worked in Digital Media with a Sydney based agency. My concerns are sincere and I have no problem with anyone seeing my research, so long as I don't get shot as the messenger! I would welcome any discussion about valuations and why steem is valued as it is and how the ship can be turned. If anyone thinks that this can go live with metrics like over 100,000 times leverage, they are seriously barking mad. The media will dissect it and comparisons to Facebook and Google will pale.
Yes but the current system is wildly disproportionate. A whale might have a thousand times more skin in the game but end up with a million times more influence. That leaves the little guy, or even the middle guy, with effectively no influence at all.
ok. But that imbalance can be solved by simply tuning the voting weight algorithm - as people have suggested for months. I would not oppose that sort of adjustment. I just don't see that a cap is necessary or useful.
If they establish a new tier of investors, how long will it be 'til steemit is flooded with posts from a new crop of users complaining about how unfair it is for whales to earn higher interest than regular users?