Why You Shouldn't Care About 1M Accounts.
We've hit one million accounts! Whoop-dee-doo! I hate to rain on the parade. I know everyone likes to celebrate once and a while. However, I think we all need to step back and consider why we think 1M accounts is such a milestone.
This kind of thinking is a form of unit bias. It's the same reason why people are willing to buy a coin that's valued at less than a dollar instead of buying a fraction of a Bitcoin. For example, there are a lot of people out there that bought Ripple instead of Bitcoin because a Ripple costs $0.70 and a Bitcoin costs $8200. These numbers don't matter. All that matters is the market cap and where it's headed percentage wise. The reason Ripple and Bitcoin are so far apart is because Ripple has 39 billion coins and Bitcoin has 17 million coins in circulation. This number difference is totally arbitrary and doesn't matter.
Likewise, 1M Steem accounts means nothing when we have 60k active users. You won't see me celebrate 1000 followers due to the same logic. I got most of those from Steem Engine red fish. It looks like these people are upvoting me but I'm really just upvoting myself in a roundabout way. The way that Steem operates caused a bunch of worthless accounts to get created.
Every account gets a free half Steem coin and 15 delegation. When I created an account here 6 months ago the delegation value was 30 SP. That means we gave away half a million Steem coins plus all that delegation. This caused bot developers to exploit the system to create as many accounts as possible. I am not proud of these million accounts.
We need to end the mechanic of giving away free Steem to new accounts and end the delegation as well. This will automatically let everyone create an account instantly because Steemit will no longer have to vet accounts to determine if a bot dev is trying to exploit the system; they have no incentive to.
Delegating Bandwidth but not Steem Power.
In order to accomplish this we'll need to be able to delegate bandwidth separately from steem power. I think this is a good idea regardless of new account creation for various reasons. Being able to delegate bandwidth to the projects we support without losing voting power seems like pretty awesome functionality to me. This will be especially true when SMTs get released. It would also be easy to program I'm sure.
Steem is a great coin but we should all be aware of it's shortcomings and try to correct them. 1M accounts is currently more of a flaw than an accomplishment.
Prett insightful piece! I never gave the free allocation and delegation much thought but I see your point! There are naturally teething issues with the way steemit is set up and the current ecosystem does encourage plenty of counter productive behavior!
A million accounts is great in terms of branding as people have been indocratinated by social media to follow anything with a big following but other than that it means nothing
What would be great is having more authentic quality content creators! I’ve found plenty of great content on the platform since I’ve been using it but it’s not without a lot of digging! Most of the accounts I see on steemit are simply here for the promise of this free digital money myself included.
Yes, I believe that's the next big killer functionality Steemit requires: The ability to filter content in a much smarter way. Right now all that matters is payout but I believe soon™ that will change.
I’ve been saying the same thing I totally agree! I’m fine with having this General stream and then a follower stream but I’d like a more personalized stream where I can see my preferred authors and maybe tier them so I can get access for the content and creators I want to see first
Then notifactions in when they post stuff would be great too!
Also if we could get rid of the custom google search and have a text based search with filters that would be great
I like your idea for separate bandwidth and steem power, I think they wanted people to have at least a cent upvote when they create their account but now even that doesn't happen.
Baseline bandwidth and instant signups sound good to me.
.
You still should. Think about how many people write the same posts. We don't have the same follower pool so it hardly matters... just look at how many people were like, "OMG 1 million accounts!!!!!111".
saludos buen post
Please Stop - @davidjose28
You just said "buen post" and in your your last 100 comments you used 62 phrases considered to be spam and you made this exact same comment 3 times. You've received 1 flags and you may see more on comments like these. These comments are the reason why your Steem Sincerity API classification scores are Spam: 57.70% and Bot: 3.90%
Please stop making comments like this and read the ways to avoid @pleasestop and earn the support of the community.
Hey this is awesome post.
Dear,
I have voted & followed you, please don't forget to upvote & follow me:
https://steemit.com/biography/@mehedi0808/relationship-is-hard
cool!
Interesante trabajo.
Yeah really you couldn't say it better than that