You are viewing a single comment's thread from:
RE: My proposal: reduce the withdraw channel from 104 weeks to 104 days or even 104 hours to make steemit less like a ponzi scheme
That's not even the only reason. There are structural reasons within the system as well. For example, if you can power down quickly and then power up into another account, you can vote twice with the same stake.
"Better solution: you put your money where your mouth is, buy it up, and hold it."
It would be much more efficient to just send the money right to you... ... this statement is absolutely disgraceful.
You Sir, should be ashamed of yourself.
Not much more no, only by the 1% or so that is accounted for by exchange fees. Bottom line: The difference between telling someone else they should not sell, and you going out and buying yourself is that talk is cheap and only the latter involves putting your own real money on the line.
OK. So then show some transparency, as @ats-david suggests. Where is the money being spent? Who is getting what? Where does it go? How many developers are on the docket? What are they earning? Is it enough? :0)
@smooth, you are one of the whales a lot of people tend to like (except for recently when you censored @dennygalindo for comparing @steemit to synereo...I was not really a fan of that move. You're entirely entitled to your opinions, but that made you seem more like you had some kind of pact with the Steemit poker club and you'd be watching over us like Big Brother. It also gave us the impression you weren't actually confident enough in Steemit to let it speak for itself. I like to think you meant well.
You do keep us in line, though (like when you temporarily voted down @steve-walschot for unintentionally vote-buying...when he was trying to be supportive of the minnows: https://steemit.com/steemit/@steve-walschot/how-my-best-intentions-almost-lead-to-a-flagged-account-by-smooth.)
We want/need to trust the direction of Steemit, and the CLOSEST thing we have to that is tracking the moves of the whales. There is a "warrent buffeet" effect here. It's the same with any major corporation...the big guy makes a decision, the little guys follow.
You curate a lot. You contribute a lot. People listen to you. We see you as an individual: less sea creature, more human being. You have voted for 340 unique writers here. (@berniesanders has voted for more than double that, but I don't know how many of those went to sock puppets...so it could be a cheap number...but I digress)
You hold 16% of the voting influence here, if you include @smooth.witness. And this is no small feat. (stats here: https://steemit.com/stats/@clayop/how-much-do-whales-influences-on-rewards-introducing-new-statistics
Investors need transparency. We also like to know things, such as whether there should be rules against sock-puppet accounts, and what the business plans are for the next two years, five years, ten years.
What are your thoughts?
The Release Candidate is great, but a little "what's coming next and why" from the owners couldn't hurt anyone. And a little more, easily accessible, transparency with top earners/investors couldn't hurt anyone either.
Agreed, or not?
You will have to take that up with the Steemit team (Ned for example). I'm not affiliated with the team and I'm just a user and investor here, just like you (albeit an investor with a larger holding).
All right. I'll tell you what. If you were my broker, would you recommend I invest here? At the current rate of decline?
The only way I currently see an investment worth doing is if it gave me enough steem power to trend a story and give me some ROI on the vote. That could be tens of thousands of dollars, considering the top-heavy nature of the trend economy.
But I don't know much. You've been here from the get go. Would you be able to make any other recommendations for me as to why anything less than several thousand dollars would be a worthwhile investment?
If so, make that argument and I'll listen. I am all ears.
[replying from lower nested comment]
IMO there is only one reason to invest in this platform and that is because you think the investment will go up in value. Investing for rewards or influence is largely a losing game at this point (possibly that could change in the future, with a much larger user base, but at this point who really cares about influence over content seen by 1000-2000 users?). Remember, all the rewards are being paid by investors. That means when you buy in they come out of your investment as well. It makes no sense to buy in for rewards when it means you are paying out more as well. There is no free lunch and value is not created out of thin air, even of tokens can be.
Currently the market cap of Steem is less than $100 million. If you think it has the potential to grow to say $1 billion or more (as a recent trending post claimed), then it is a good investment whether you buy a large amount or a small amount.
I will not tell you whether or not that is going to happen. You will have to make up your own mind.