Is Steemit Favoring the Rich?
I'm fairly new to Steemit and am wonder, is Steemit favoring those who are rich? My point is I have had posts that are nearly Identical in "likes" and the post that has more comments gets less revenue.... Is this the way Steemit is supposed to function? (See picture below)
If this is the case, this reminds me of the banking system, giving a small amount of power to those on the very tip top (see the picture below). In my opinion, those who are posting content are catering to those who have the highest value, not the overall audience, causing a lot of content in one area and not much in the other.
*Note the Blue and Pink are whales (I believe), and the others are listed
**See article: https://steemit.com/steemit/@crypt0/steemit-whales-dolphins-and-minnows-the-importance-of-steem-power-on-steemit
Regardless of this, I love steemit and will continue to vote. What do you think, is steemit setup the correct way or should the algorithm change?
Steem vote weight depends on the stake (STEEM POWER) in the account. This is necessary to prevent fraud, since people could upvote themselves from alternate accounts. Those who are more invested are also expected to care about the long term health of the community and put effort into maintaining it. Anyone can join with nothing and work to earn stake in the community, but those who have already built a reputation contributing to the community have more influence in guiding how it grows.
I can understand that to a point, but many users don't post content and just want to view content, So I view that argument as flaw. Don't Get me wrong, I believe those with STEEM POWER should get an added benefit, I guess my point it is way to skewed
You do get rewarded for curating (upvoting) good content early, but that won't earn you as much stake as producing content.
If you just want to view popular content without curating or creating, that's great too, but no one is likely to pay you for it. As you may have noticed, Steem doesn't have advertisements and thus doesn't have that as a funding source.
Upvoting early gets u more ? I thought u just needed to upvote , befor the 7days ended @troglodactyl
The way I understand it is, and I'm new here too so take this with a grain of salt, to get curation awards you need to be an early upvoter on a post that becomes popular. Anyone can go find popular content at the top of the "hot" section. But if you take the time to "curate" new and unseen content and identify things that you correctly think others will like, then you deserve more reward...
from https://steem.io/getinvolved/paid-to-curate/
"1 .Only vote on posts that you believe others will also vote for.
Okok
I thank you for your insight on the matter. I don't necessarily agree with the way it is designed by I like the way you eloquently convey your argument.
Respectively,
Cryptowallet
As I continue to see some of the total shite that gets posted on Steemit and yet still gets big upvotes, I'm convinced there are "circle jerk" communities in Steemit that just support each other by voting each other up. They produce nothing of value but post constantly all day with stupid pics of themselves or unintelligible BS. If the Steemit leadership / community really cared about quality, they would find a way to start shedding this dead weight that steals value away from everyone else that is participating seriously in Steemit content creation
Some people, such as Gregory Mannarino signed up to Steemit and many of his Followers also joined... He had a big following in a very short amount of time... We need to work for any followers we impress... Pocket Change...
True he had a lot of followers, but from what I can see his channel didn't have a lot of income until "whales" were aware of his account and started to like his videos
I guess I need to obtain a few Whales... Any Whales watching...??? Pocket Change...
Doesn't it have something to do with STEEM POWER ? Sorry noob here...
Prosperity is a mindset. Try adding one of your videos to a advertising site to create traffic to your blog area.
But that wouldn't matter. As defined in the link you would be lucky for one user who is a "minnow" to get .01 cents for a like, rather than have one user who is a whale equal 10,000 users (arbitrary number, but you get the point)
It is interesting how this whole things works. I have only been on for 6 days so not 100% sure how Steemit works just yet. Good that you did point this out though. Keep up the great posts. DR
Interesting analysis, cryptowallet. I've noticed the same as well. So the question i have is, should we increase our voting power?
That is the question and the fault of Steemit. Although I love the platform and think it has a lot of potential, at least on youtube, when (and if a video stays monitized) every view matters and think it should matter more in Steemit.
I'm not sure but i think on youtube, viewership by country matters? Viewers from certain countries like the US, Britain, EU pay more than developing ones. In Steemit, it's fairer across countries but based on wallet size lol.
I'm not sure how it works. Steemit has a lot of moving parts.
@cryptowallet did u try looking at steemd.com basically 247 accounts own 80+% stakes
Too visually unappealing for me, I used steemwhales.com
Minnows are stuck in the whales shadows all day every day
Maybe someone will come up with a platform that is based more on Capitalism and/or a true Merrit System