My thoughts on Steem HF 16
Here's how i feel about it...
8 years ago in #steem by steve-walschot (68)
$0.69
- Past Payouts $0.69, 0.00 TRX
- - Author $0.65, 0.00 TRX
- - Curators $0.04, 0.00 TRX
This strikes me as a very immature post. If you disagree with the changes, why not explain your reasons? I wouldn't think any less of you if I disagreed with your opinions. But someone who expects community votes for his witness should observe a higher standard than this.
I too would like to see some hard hitting evidence, or even some hard hitting feels.
There are all kinds of problems in the system. And I would like to see a lot of discussion about solutions for them.
Things like plankton votes being almost ineffective. Whale votes being so monumentally effective as to shift everything else. The balance isn't correct, but what would be a better system?
And, in the near future, the starting Steem Power may not be enough to get started.
At 10 SP I had to be very lucky to receive 0.001 curation reward.
At 100 SP I just have to be prudent to receive a curation reward.
At 10,000 SP I am pretty sure that when you vote you get a curation reward. You move the base that much.
My biggest concern is that the system may be set up to make whales bigger faster than it makes minnows bigger. However, in any system, there are those who blow their cash, and there are those who save their cash. Even when making the same amount, in time, one is broke and one is rich.
well said.
Not to true. The changes actually hurt the whales if anything. Now they dont have the benefit of receiving the 90% interest for their steem-power. Steems price in terms of bitcoin is at an all-time-low. These changes will benefit those that take advantage of it and buy... Whales didnt even make as mch money as they could have if they just bought and sold vs. buying and holding. Whales wont be powering down at these prices anyway. If they do im sure some new whales will be more then happy to buy them up. I can see why you disagree with the changes however. I liked alot of the old concepts as well but the community has spoken and I believe it is for the better.
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Undervalued? You drunk? This post is worth as much as a pic of my dog's poop . No constructive criticism whatsoever.
LOL
That's not the only change though, they are removing the ultra high interest issue which they thought was a good feature, but were hands down completely wrong on. Regarding the shorter power down time: if the weaker whales dump all their STEEM fast and it temporarily drops the value, you and others can scoop up it up dirt cheap before it corrects. This would cause a fairer distribution of tokens which is a good thing, compared to 100 whales holding a major amount of the token supply.
If the whales turbo speed powerdown and sell, someone needs to buy. If they sell too much, that will drive the price down. If they are selling to make profit, they won't want to drive the price down, so they will sell less.
Am I incorrect in thinking that the whales that sell will be advantageous to the community in spreading the steem around?
classy post by a witness., what can one say.