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RE: Rejecting Hardfork 21, and what rejecting hardforks mean
"I have never used bid-bots, I have never delegated to bid-bots or any other such profitable schemes. I have only ever delegated to or followed positive curation and community-oriented projects, and I have never asked for anything in return. I have (almost) never self-voted, instead of focusing on voting engaging community members."
This is why we have nice things. People like you don't sell them for a quick profit. I wish there were more witnesses with your principles, and the courage to stand on them.
Thanks!
That several top witnesses not only do all of those, but actually run bid-bots obviously shows that the entire network is broken and aching for a complete overhaul from scratch.
I suspect HF21 will so reduce retention and engagement that the platform will be abandoned in short order once the cost of extracting Steem via profiteering no longer is justified by the profits. It is my hope that those left afterwards will then be able to implement incentives appropriate to generating capital gains.
EIP is accerelationism. The basic idea behind accelerationism is to increase the rate of societal destruction, so that a new societal paradigm can be deployed in the aftermath that cannot be gradually introduced into a dysfunctional society. I abhor accelerationism, but I'm not in charge, and make lemonade from lemons.
I don't expect any major change. It's the same thing, really. There'll be a short term of flag wars, but bidbots will be back bidbotting, self voters will be back self voting, and content creators will be back submitting as usual. There'll be some casualties, sure, but overall the impact is not going to be as significant as you suggest - it's just not that big of a change.
Cutting author rewards in half is a huge change, and it will be more than that, particularly when you consider a 10% tax on inflation, and free flags equal to 25% of VP. Most of the VP on the platform is held by whales, and they'll be flying those flags to return rewards to the pool, where they can extract ~90% of them.
The mean payout last I checked is .01 SBD. The average payout is ~15 times that, and the difference is whales self voting and delegating to bidbots. Cut the mean payout to .005 SBD, and increase the average to 30 times that, and the writing is on the wall.