Let’s Talk about The Dark Side of Steem on its Birthday
Happy Birthday Steem
On March 24, 2016 Steem was Launched exactly two Years from Today.
First of all let’s take a moment to Congratulate and Wish Happy Birthday to Steem
Yesterday I talked about some Good Things about Steem and Steemit like We Post Content, other Steemians upvote if they like and you Get Paid !!!!
Sounds Fantastic isn’t it ?
However, Appearance can be Deceiving Sometimes
Steem was introduced as the premise of “Proof of Work”, No ICO, No Premine.
During the Launch there were no Compiled Wallets and an error in the Setup Manual which Granted only the Developer To Initially Mine any Steem.
When users asked for assistance, none was given.
It was established that the Instructions given by the Developer were Incorrect, which lead to Errors which each user was facing and ultimately preventing them from being able to Mine.
Once this was resolved, another error resulted in Developers Miners Crashing but other Users were Mining as Normal
When the Developer realised that they have lost some control of the supply , Streem was Re - Launched to get the Maximum Supply.
That leads to a Suspicious Thought
Steem is not Decentralised ??
It was never ??
And it’s still not ??
That means Steem Network is only there for the Developer and his ‘Alliances’ to have maximum supply and it’s impications on Steemit Platform.
Research says that Top Accounts on Steemit are mostly Owned by Developer and his ‘Alliances’ enjoying 85% of the total Stake.
Though they allow everyone to vote anyone but the effect of your vote corresponds to the amount of Steem you Convert on your Account.
This Establishes that your vote is meaningless if you are not been able to gain High Stake from Total Supply.
Since the Top Accounts are owned by them, it is upto the Developer and his ‘Alliances’ that which Content will make it to the Front Page.
Simplification of my Thoughts on Steem and Steemit
Though I have given Negative thoughts about Steem and Steemit today but I have full faith in the platform and I am highly optimistic about the Future of this Platform.
All I am saying is there is a possibility about what I said in the article today to be True
Rest I will leave it to you All Steemians
You Steemians are so Smart, I am sure you know what you all have to do now 😉
Upvote - Follow - Comment - Resteem
Be a Part of our Amazing Squad
Thank you
Also Check out my Recent Posts
Q & A on Steemit by a NewBie
Hyperwaves, Bubbles and BitConnect by @aggroed
Is White Rhino’s Fate Doomed
Art is in our Souls and is with Mankind Since Medieval Period
The Rules Of Life
Music is The Way of Life
For future viewers: price of bitcoin at the moment of posting is 8693.30USD
Showing us all the dark matter of steemit how then you can still obtain full faith in the platform and be highly optimistic about the Future of this Platform?
@johano I am optimistic and certain reasons behind me being optimistic were shared in my previous posts Q & A on Steemit by a NewBie I myself been a Hardcore Investor on Various Crypto and I review them after investing on them. The Positive Aspects Outweighs the negative news about Steemit so that brings the Faith I have on it. I believe we should always look at both sides of a Coin. And that is exactly why I shared the Positive Post first on my Blog.
Right I forget that coins have two sides, even digital coins :-)
Yes Indeed they have ;-)
If would be good to see a distribution curve on how much steem top accounts hold compared to the rest.
Facebook wasn't the first social network, they were successful because they executed their idea really well and kept the spam off the network at the beginning.
Steem needs to change quick or someone else will come along and do it better
@kabir88 Absolutely spot on Kabir, A reformation on certain aspects are must for Steemit right now otherwise Steemit will fall out of balance. Talking about someone else will come along and do it better ?? Guess what, Platforms are there which are new and they are trying to do it better. I am not going to take their names. 🤐
Thanks, it's good to know I am not alone in thinking this way.
There seems to be a lot of complacency amongst the whales, who seem to think this is some sort of feudalism where we will all just create content and get crumbs while their wallet values rockets.
@kabir88 True, the whales are not earning only by creating good content, they are also earning with a strange Rule of Money, i.e. If you have chunk of money then you can attract more money 😏
Wasn't the whole point of this blockchain dream to avoid the concentration of money and power in the hands of a few?
@kabir88 It wasn’t but unfortunately that is exactly what is happening right now. Irony of Steemit. 🤐