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RE: Did STEEM Create A New Problem ?
I think, but I'm not certain of course, that this is skewed at present due to over-valuations of some of the tribe tokens (like this one).
With 14000 active SP, I have a 20 cent vote.
With SPORTS, and about 800 STEEM invested, I have a 10000 SPORTS upvote (340,000 SPORTS Vested), and so with SPORTS at .00185 STEEM current, that is an 18.5 STEEM vote, or about $4.5.
That seems way off?!
If/when STEEM rises, obviously the vote will rise with it. Will the SCOT tribes valuations rise also, I'm not too sure.
I agree that there does seem to have been a shift away from the requirement of holding SP, and it is worrying. Would love to know what some of the witnesses think about this.
I continue having doubts on how tribes currently work. At some point (probably sooner than later) the buying will mostly dry up leaving only the sellers and a big daily inflation. Unless there is a clear system in place where tokens are directly linked to a certain Steem value in upvotes (like PAL/DEC) I have a hard time to see it work long term. Something that would probably also be needed is the ability to have closed communities (SMT's will allow that if I'm not mistaken). Once something gets too big it just begs for bad actors especially if there is a very unclear line drawn.
If all tokens were somehow directly linked to Steem in their value, it might help to actually increase the Steem price over time.
No matter what, interesting times are ahead :)
I will be honest and say that with the issues I see with the Trojans and just glut of coins that there needs to be some serious long term thinking on this matter otherwise it's going to have somethings that are going to nail it down right come along......sooner rather than later in this climate imho