This is one of those common programming problems, where an algorithm and code looks really good on paper, and when you build and test it amongst the development team.
And then you let the users in and the just bugger everything up by 'doing it wrong'.
I think we will see more and more tweaking of this as time goes by to make it fairer and fairer for the minnows and dolphins. It won't really affect the whale because they already have enough clout in the platform.
Think of it like this..... we are all getting a change in our taxes minnows are getting a 10% tax cut, but the whales are only getting a 1% tax cut, or even an increase in tax of 1%.
1% up or down is nothing to a rich whale, but 10% down to a minnow is a lot.
It's nice to see that Steemit seems to be operating in reverse fashion to the government's usual stance, which is a 10% increase in tax for the minnows and a 1% increase for the whales. And then telling us that this is hard on the whales and we should all feel sorry for them.
So the fairer Steemit is for the small users, the more encouraging it is for the minnows, the more money they have to throw around. Where do you think they will throw that money?
To the dolphins and whales of course.
So your best strategy instead of going on a whale hunt is to go fishing for minnows and get as many as you can, because very soon, minnows will count.
I was actually considering it might be better to buy after the 20th. I don't think the HF will cause a price spike, but it could conceivably cause a dump. I think it's far more likely to be a short-term price non-event, and longer-term we'll have to see. Probably positive, but minnows will have a long delay buying in, trying to get through places like Coinbase, LBC, etc. I expect the Steem price up substantially by the end of the year, either way, so I'm just talking about the next few weeks.
I was thinking it would be good to get in between the Steem HF and the whole Bitcoin UASF/Segwit mess. I'd be interested to hear other thoughts, though.
Your right, this one might go different from the rest of them ... but it might not?? Steem bought at any price is cool by me as I'll power it all up afterwards anyways :)
ats-david has some interesting points on this. He thinks the 40 to 10 vote aspect is a mistake that will discourage curation, and end up being reversed. There was also some good discussion on the increasing cognitive load for new users having to think about things like voting power and a voting % slider. These are, admittedly, turn-offs, but do not appear until you have more than introductory levels of Steem power.
That could be really bad if it causes some whales to begin powering down and stop participating. I know that the successful posts I have had were thanks to these helpful, curating whales giving me huge hits. I would probably have under $100 of earnings without the benevolence of their time. I don't know how rewarding that is for them, financially, or how much that will change in this HF, but I know ats-david does, as he was the top non-bot curator at one point, by volume. (Or so I saw in a thread)
These whales won't curate, but just sit in their own comment section all day voting up their own comments on other peoples posts. New ways of gaming the system will emerge I promise you. If it can be man made, it can be man broken!
Hmmm........... good point.
maybe I should sell my Bitcoin and buy STEEM. It's not like the Bitcoin is doing very well lately. And I have so much of it.......... 0.025 of it, which is way too much for anyone to hold hehehehe
you talk funny
and I say that as a Texan.
Pretty smart though..
I'd vote for you but I done used my voting power all up.
Last time I looked it was about %5....so...I gotta let it recharge.
Might not start voting again until after the hardfork.
keep up the good work.
I'm slooooowly training my ears to understand you.
I'm getting about everyother word now...LOTS better than earlier.
Keep up my friend!
As always ... steeming on!!
true :-)
Thanks for the RS! Liking your new profile Borg tagline BTW ;)
Thanks for that.
HF19 will indeed be interesting.
This is one of those common programming problems, where an algorithm and code looks really good on paper, and when you build and test it amongst the development team.
And then you let the users in and the just bugger everything up by 'doing it wrong'.
I think we will see more and more tweaking of this as time goes by to make it fairer and fairer for the minnows and dolphins. It won't really affect the whale because they already have enough clout in the platform.
Think of it like this..... we are all getting a change in our taxes minnows are getting a 10% tax cut, but the whales are only getting a 1% tax cut, or even an increase in tax of 1%.
1% up or down is nothing to a rich whale, but 10% down to a minnow is a lot.
It's nice to see that Steemit seems to be operating in reverse fashion to the government's usual stance, which is a 10% increase in tax for the minnows and a 1% increase for the whales. And then telling us that this is hard on the whales and we should all feel sorry for them.
So the fairer Steemit is for the small users, the more encouraging it is for the minnows, the more money they have to throw around. Where do you think they will throw that money?
To the dolphins and whales of course.
So your best strategy instead of going on a whale hunt is to go fishing for minnows and get as many as you can, because very soon, minnows will count.
I'm off out to buy the biggest net I can find ;-)
I'm off to buy as much Steem as I possibly can before 20th June ;) The price will spike with all that new minnow activity at the lower end.
I was actually considering it might be better to buy after the 20th. I don't think the HF will cause a price spike, but it could conceivably cause a dump. I think it's far more likely to be a short-term price non-event, and longer-term we'll have to see. Probably positive, but minnows will have a long delay buying in, trying to get through places like Coinbase, LBC, etc. I expect the Steem price up substantially by the end of the year, either way, so I'm just talking about the next few weeks.
I was thinking it would be good to get in between the Steem HF and the whole Bitcoin UASF/Segwit mess. I'd be interested to hear other thoughts, though.
Your right, this one might go different from the rest of them ... but it might not?? Steem bought at any price is cool by me as I'll power it all up afterwards anyways :)
ats-david has some interesting points on this. He thinks the 40 to 10 vote aspect is a mistake that will discourage curation, and end up being reversed. There was also some good discussion on the increasing cognitive load for new users having to think about things like voting power and a voting % slider. These are, admittedly, turn-offs, but do not appear until you have more than introductory levels of Steem power.
I agree with him as mentioned in the video - curation will be sacrificed at the further education of minnows playing with their new powers.
That could be really bad if it causes some whales to begin powering down and stop participating. I know that the successful posts I have had were thanks to these helpful, curating whales giving me huge hits. I would probably have under $100 of earnings without the benevolence of their time. I don't know how rewarding that is for them, financially, or how much that will change in this HF, but I know ats-david does, as he was the top non-bot curator at one point, by volume. (Or so I saw in a thread)
These whales won't curate, but just sit in their own comment section all day voting up their own comments on other peoples posts. New ways of gaming the system will emerge I promise you. If it can be man made, it can be man broken!
Hmmm........... good point.
maybe I should sell my Bitcoin and buy STEEM. It's not like the Bitcoin is doing very well lately. And I have so much of it.......... 0.025 of it, which is way too much for anyone to hold hehehehe
Go out to Steem for now before HF-19 and you can sell it back to BTC once the hard fork is complete and Steem price starts to rise again :)
problem is powering down takes time..
I don't need to power down ... I'm talking liquid Steem here old man.
I don't have none of that.
as quick as I get any I turn it into Golem, BitCoin, Ethereum or LiteCoin.
I learnt that from this Scottish guy I know.
LTC @$35.17 & up 17% today - the tabby cat is rising!! :)
you talk funny
and I say that as a Texan.
Pretty smart though..
I'd vote for you but I done used my voting power all up.
Last time I looked it was about %5....so...I gotta let it recharge.
Might not start voting again until after the hardfork.
keep up the good work.
I'm slooooowly training my ears to understand you.
I'm getting about everyother word now...LOTS better than earlier.
You'll be an honorary Scot by HF-21! Ha ha! I think everyone is recharging right now! I'm below 20% voting power and need to recharge too!
I've probably got scot in my background.
actually I sat on some scotch tape once...does that count?
There are two types of people in life: those who are Scots and those who wish they were! :)
Never ask a man if he's from Texas
if he is he'll tell you.
If he's not
no need to embarrass him.
Kinda similar ;)
I will take a listen to what you have to say, @mindhunter
Sounds like it will be interesting!
Lots coming down the pipeline in HF-19 @breakingtonight :)
"whales holding too much Steem power"
What do you think would be too much Steem power for someone to hoard? What would you say are the negatives to having hoarders?
It's not the hoarding that is the problem - its the ninja pre-mined gaming of the system I'm against @lexiconical
I watched your video and it was quite informative so I upvoted you!
Thank you @breakingtonight - always happy to have a new fan :)
You're quite welcome, @mindhunter