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RE: Daily Steem Stats Report - Friday, October 18, 2019
The hard fork didn't break the downward trend. It just continues just as before.
I'm only surprised that the downward trend didn't actually increase as @steem implemented all the wrong things. Quite the opposite of what was needed.
What do you think was needed? (By the way I think some of the wrong things were implemented as well, but am curious to hear your take)
A reward curve that limits too power of the whales:
When I made the pot I made it trail off at whale level. That was over a year ago. Now I think to should trail off much earlier Orca or even Dolphin level.
Sure you can make multiple accounts. But if the curve trails off at Dolphin level you would need to make and manage a hundred accounts.
Which brings me to the 2nd idea: maybe a restriction on votes. Like: no votes below reputation of say 32. StackOverflow works that way and is quite successful with that model.
Voting is meant as curation to be done by humans. Restricting votes to those who proven themselves by reaching a certain reputation will aid that goal.
We get rid of the dust down voter, bot's accounts would need to make useful postings before becoming usable and whales who spilt their accounts would need to make a significant amount of postings on all their accounts to make them usable.
PS: Don't fall for the Nirvana / perfect solution fallacy. We don't need a perfect, cheat free solution. We only need a better solution.
If you limit the influence of the whales, where is the incentive to buy more steem? By setting up things to make content work, but handcuffing the whales, you are going to get a decent content platform but the token will have no value as no whales will buy in.
I actually think you need to be doing the opposite and make it as rewarding as possible to be a whale. Encourage everyone to buy as much steem as possible by creating incentives to do so. We should be focusing on getting and keeping as much steem powered up as possible, and the rest should be a distant second.
We are rewarding whales left right and centre and it doesn't work:
Steem is falling while Bitcoin is rising:
The world doesn't need another crypto currency. There are enough crypto currency already and any crypto currency who want's to complete with Bitcoin, Litecoin, Ether and any of the other top ten need a unique selling point.
Steem could have that unique selling point: A decent content platform. Without the decent content platform Steem is just another worthless alt coin.
And why the fixation on whales buying more steem. I see no advantage here. I think it would be far better if Plankton buys in to become minnow. And minnow to become dolphins. To increase the amount of engaged users. To increase the amount of content. To strengthen the unique selling point of Steem.
Users beyond dolphins don't strengthen the unique selling point. Quite the opposite. The existence and the overbearing power of orcas and whales weaken the unique selling point by making the platform feel like a Ponzi scheme where only those who joined the platform in the first 6 month have made a profit. And no one who joins now will ever make a profit.
The point is creating an ecosystem and platform that is set up in a way that encourages people to buy in at all. I don't care if a whale or a dolphin buys in as long as they buy in. Without creating incentives for people to want to become a whale or dolphin the platform dies. It's been shown through countless models that when people receive something for free they don't value it, same with free steem, it gets sold.