An open letter to the Steem Community about "Market Price Updates" (Specially to the Whales)
Dear Steemit Community,
Today i checked on steemd and i saw that i joined Steem 86 days ago. Almost 3 months.
And in these 3 months, i learned a lot about the platform itself and the Community. Besides some rotten apples here and there, this is a great community to be part of, and honestly, Steemit gave me back my dormant desire to write.
For that, i am very thankful for the whole community, and some old players around here that are very welcoming to new users.
But i noticed a trend here. And it is an ugly trend, that, in my personal view, only flood the plaftorm with useless posts that don't add any value to it.
This trend is called "Market Price Updates". You may also call it "Market Snapshot" or any variations of it.
In these kind of posts (and believe me, there is a huge amount of this), the user usually take the price of one or more cryptocoins and write what the price was at the time. With some degree of variations between each Author.
And i have a seriously big question, specially to the big whales around here that do this:
Seriously? Do you really think that copy pasting the price of a coin from one of the Thousands websites that show the price, wich are easily acessible by anyone, will add any real value to Steemit?
Don't get me wrong, i like a lot of these authors and their posts, but that is something that you should really rethink.
How can a post with some small quickly copied lines of the coins prices are, or how was the variation price add any value here?
What made me question this was a daily post that @aggroed started to write a some days ago. While somewhat useful to have a graphical representation os STEEM/SBD pair, why not put this on a website to be acessed by everyone? Do you really need to make a post everyday saying "The 200 moving average today is 0,92".
@aggroed is one of the Steemians that i respect, and he did created the @minnowsupport, wich is a big help for newcomers, but come on @aggroed, you don't even properly explain to your audience what is the meaning of the lines drawn on the picture...
And he is not alone.
@dragosrua do a daily market snapshot, where he take a snapshot of the steemmarketcap.com front page, and some candle graphs.
@penguinpablo write a cryptocurrency market overview with pictures of how much the was the price variation on 24 hours, 7 days, 30 days. At least he add a lot of other actually useful information there, like latest news.
And there is a lot more people doing this around Steemit...
I really like the users i mentioned above, and a lot of others that do the same thing and didn't mentioned. But seriously, this need to stop.
Why? BECAUSE THESE ARE FUCKING INFORMATION EASILY AVAIABLE IN A FUCKTON OF WEBSITES AROUND THE WEB!
As a side effect of this behavior from whales, that get a really good value on these kinds of posts, is that there is a HUGE amount of crappy posts from smaller users doing the same crappy, mimicking the whales posts and filling steem everyday with more and more crap.
And for you, that upvote these posts, and write on the comments "Thank you for this amazing information", "ohhhh you are so smart", "that is so wonderful", and other generic comments in the hope of grabing a whale vote, please, have some love for yourself...
Just go to one of these sites below, and you will get even better daily information about whatever coin you want:
https://coinmarketcap.com/,
https://www.tradingview.com/,
https://coin360.io/,
https://www.cryptocompare.com/coins/list/USD/1,
https://bitscreener.com/,
https://www.barchart.com/crypto,
https://finance.yahoo.com/cryptocurrencies/heatmap/,
https://coinmarketinfo.com/
https://www.worldcoinindex.com/
https://coinpress.io/cointable/
Seriously... There is an amazing amount of good posts around here on Steemit, even ones that talk about the markets, but just don't leave a vote on those lazy "market price update".
Or do whatever you want. It's you account anyway.
I totally agree with what you have written in this post @phgnomo. These after the fact market commentary posts are just stocking fillers and provide zero value to Steemit. Anyone who is seriously speculating or trading has access to live price feeds, via their exchange or TradingView.com, or at least going to Coinmarketcap themselves to check prices.
This is exactly what has gone on forever in the traditional markets, guys making a living out of end of day market commentary! This is like weather forecasters standing up at the end of the day and describing to you the weather you had that day. Yeah, I got rained on, I know!
Thank you for highlighting this @phgnomo, as I have also noticed this nonsense, but never commented on it. I will resteem this for further exposure.
Perfect! Couldn't think of a better comparison!
Because it is easier than forecasting ! haha..
but it can also be good to see the past and accumulate knowledge of what happened everyday and then you do the forecasts.
a very good post I like your blog ... I am waiting for your next post ....
I tend to agree with you - I see a lot of these and they don't add much value (if any) . I think they are just lining their pockets and not adding to the community! It sucks! Its hard for minnows but I am slowly grinding out a following. GREEDY of them I say. If there is real analysis or new insights then great - thats actually what crypto needs - new insights and ideas!
What i dont get is why so many people vote on these posts.
These kind of information is so easy to find..
And better yet, they are updated real-time...
Maybe people are too lazy to look for it
Who knows I think maybe they are popular so people upvote them for the curation rewards? I refuse to do this I only upvote articles that I think have real value and are adding something new!
The ability to post anything, however useless, is one of the reasons I have concerns about Steemit's future. I realize that some controls are in place to penalize plagiarized and other worthless content, but why not require just a small amount of Steem just to make a post?
Not sure reputation score is enough to counteract.
Steemit is a weird new place in the end. There is a lot of going on, and is still an experiment of community self-governance. I honestly have no idea what will happen, but flags are there to help with it.
And too bad is that most of the power of what will happen on steemit is at the hands of few people....
Its a wait and see game.
I said since I started that I would post it on @aggroed so people knew it existed. I have an update coming to the post tomorrow, and then I'm changing it over to @agx and it'll be off my wall except for resteems.
For folks that have a lot of stake these posts are actually pretty useful. Tough to know what help they provide if you only have a small amount of SP or crypto in general, but they can save you a fortune in time or money for the service they provide.
Thank you that you joined the discussion @aggroed. Like i said, you are someone i relly admire here on steemit.
But i disagree with you. Most of the people that have a big stake definetly do not await for the "market update" to know how is their stack valued. It's a information that arrive a lot later than if they check the information directly from those websites.
With the volatility we have in cryptos, it just make no sense. If you need the information, you get it in real time. If they wait a specific time o fthe day to read a report, it may be too late.
These kind of posts, specially when they come from whales doesnt bring value, only a flood of small users that comment nothing of real value to the discussion in the hopes to get a big vote from a whale.
Your indicator does have some usefulness, because there is nowhere out there a real time graph of the pair STEEM/SBD. But wouldn't it be better to host this kind of information on a real-time updated webpage that gather data from steemit internal market and draw a graph with it?
Well done...
You have balls of steel, like me :D
Glad to see you say what you think, don't lose this feature of yours.
Cheers
Well.. i try my best.
And i think people souldnt be afraid to say what they think, as long as they are open to debate.
100%... The flag system is censorship, but it has to exist... a necessary evil.
Crap is something subjective. You're critizing whales (thus super early adopters of steemit) yet bringing no solutions or even creating some value on here. Respect
Sorry, but there is subjective crap, and there is crappy crap.
Posting information that can be easily obtained through an infinity of other means around the internet, like what is the current price of a coin, is crappy crap.
Its just a stupid reason to get votes for no effort.
And just because whales are early adopters of Steemit they cant be criticized? That is sheep philosophy to accept every bullshit someone more powerful than you say, just to get in his good grace.
The whales that actually care about this platform (@aggroed included, as you can see on his comment) don't see problems in being criticized.
And i dont think you actually saw what i write around here to tell me that i don't bring value to the plaftorm with my posts.
Try reading this post or maybe this one, or even this older one and let me know if posts like those dont bring true value to the platform.
Or maybe the guides that i wrote in portuguese, that a lot of new portuguese speakers users found very useful in learning how Steemit work.
If the majority of people around Steemit thinks that these kind of posts have less value than a "daily market price update" then this platform is definetly fucked. No good content creator will stick for long.
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That information stays in the blockchain forever... in 1000 years... we will be able to go and check the prices for that day hahah ;)
I agree with you... But if people keep voting these posts... I guess it means something and they will probably keep posting them. What can we do? nothing.
Maybe a bit unfair to receive a big reward from the pool for copy pasting some numbers?. Authors of those posts could choose to decline payout if they really want to communicate the prices. But I guess that is not the main reason, because there are better places to see the prices as you mention ;) I can't think of anything we can do. Steem has its own life and it works as people decide to work. However you are free to post that you don't agree with something as you have done. Well done.
Another solution, I think there are scripts for the browsers where you could hide those posts if they annoy you a lot in your feed. I haven't tried it yet SCT: https://steemit.com/steemit/@steemchiller/sct-update-1-0-6-too-many-challenges-in-your-feed-here-comes-the-new-challenge-filter-for-steemit
Congratulations! This post has been upvoted from the communal account, @minnowsupport, by phgnomo from the Minnow Support Project. It's a witness project run by aggroed, ausbitbank, teamsteem, theprophet0, someguy123, neoxian, followbtcnews, and netuoso. The goal is to help Steemit grow by supporting Minnows. Please find us at the Peace, Abundance, and Liberty Network (PALnet) Discord Channel. It's a completely public and open space to all members of the Steemit community who voluntarily choose to be there.
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