Do you trust the witnesses ?
I once questioned some witnesses on a topic, it didn't get very far before a few of them basically said "you just have to trust us". A couple IMO used their "experience" here and programming knowledge as a sort of shield from having to explain things. I think anyone who has any business experience knows what "trust us" really means.
Did you feel that the top witnesses did a good job explaining to the community what would happen with the latest hard fork? do you think they did a good job when deciding to fork? I am curious what the people who follow my blog feel on the topic.
I for one find pretty much all of crypto to be amateur hour so things like this recent fork drama don't really phase me, its just par the course. I only hold 5k steem power some of which I bought in with so if it all collapses I wont lose much but I am not sure how good serious investors would feel investing in the current state of affairs.
Photo by me.
It takes a lot of patience and effort to explain such a complex system as a blockchain to non-technical people. That's why you often see that the people with a lot of technical knowledge don't want to take the time to explain these complicated topics to less knowledgeable people. But that's not an excuse to not explain the consequences of a hardfork.
Apparently, some of the problems we had to deal with were known before the hardfork, but not communicated. Luckily the witnesses themselves realize their failing to communicate as well. I don't trust a witness that doesn't explain the changes, but we all make mistakes. I think I can trust someone who realizes their own shortcomings and tries to do it better next time.
Yea I agree with trying to explain the more technical side, its prolly not the best use of their time. I just look up the witness category often and find very little in the way of details/communication on what the overall outlook plan etc is. It is a growing and new system so I tend to be lenient but as the old saying goes with great power comes great responsibility :)
So just set it and forget it? Push changes without community buy-in? Push changes without reviewing code?
I think if a witness can't explain the technical changes in a simple and easy to understand way, then they likely don't understand it themselves. I have found many times in life that if you can't explain something in a way a 5 year old can understand, then you don't truly understand that something enough yourself.
I was mostly speaking on an individual basis. But for sure they should be taking time to do so on a regular posting format specially as a whole. I often feel they can use that as an excuse because you don't need to explain how to program to explain the ramification and pitfalls.
This is why I think that the future is witness teams and organisation/corporate witnesses. That way they can divide the labour, including talking with the people. For now, witnesses are elected for different reasons - some technical and some community.
But that is the thing the people that do understand the technical aspects they can't get answers either. Communication sucks in that aspect.
Trust on the internet is not really true trust. I do find myself getting more answers and better answers from those not in the top twenty, most in the top twenty just reference their side projects as proof they know what they are doing.
This has been my experience exactly! I find some do a really great job considering their "level". I also get same feeling about how some just show off the side project as proof.
I felt there was too much drama about the hardfork.
I dont code, I have no idea from code and I probably never will.
I more or less trust Steemit inc and the witnesses to know better than me.
That onforseen things happen, especially in this space were everything is kind of new and experimentel is fine.
I am not sure if the witnesses could have forseen this and what I have read they were put into a position were they needed to agree as HF 20 is the first step to SMTs.
Very much how I view it on many levels. I tend to find there is often drama for dramas sake.
I do think at some point there will have to be better communication if this project is to be reaching the "next level".
I don't trust the witnesses, but perhaps worst is my lack of faith in the developers. Given the events of the past week and the sheer amount of code they published in the last hardfork, I can only imagine the potential exploits and bugs hiding in the current implementation of the blockchain. We should have never accepted that hardfork.
If the witnesses and developers aren't going to do a good job, then I guess it's up to us.
Even lesser now (for some) with thr way the HF was handled. Really fear for steemit long term, have spent too much time here to watch it all go under...fingers crossed
I say Ok for this time, we are kind of used to it, but for new users/investors things like this can be extremly frightening.
Programmers can be geniuses in programming, but if investors don't put down big cash they'll be left programming with pennies.
I read all these comments as well as your post and even those seem over my head. I am definitely one of the 'I'll let those at top sort it out' and simply 'hope' it does work out.
I do know that I am happy to earn sbd again and glad it is sort of getting back to normal. The days it was down definitely showed me that I honestly DO STAY for the people. It is nice to get the 'money' but I honestly earn so little that it's more about the people. However, I would Love to have it become more lucrative, I think we all would.
I'm glad that it does seem like there are smarter people around who seem to know what they are doing and are trying to keep tabs on those at the top.
Question:
How many investors, no I don’t mean cryptoangels, have you seen here? I also don’t mean those who think of this as a (max. 3 years) hedge fund, no I mean investors who look at growing and building in order to increase their investment exponentially.
I don't know actually offhand I do not know any. I know some who are into crypto that are building projects around the chain but I don't see anyone from "outside" who really plunks down any cash to do things.
I mean in a way its such a new thing that anyone who is serious prolly wouldn't invest heavy in it yet because of all the unknowns. I do think it could be a good time for those types to slowly get their feet wet and plan/investigate though, but I doubt any are really investing to build right now.
I tend to be the patient type but I find professionalism always goes a long way.
Well, let’s be honest here for a second.
No investor is going to give a startup $2-3m to build their thing as long as things happen as they happen.
We are entering a new era with SMTs.
First and foremost we must make sure that the launch of SMTs isn’t weaponized against us (as I heard it was the case for HF20).
And that matters, a lot. Because if we want to make the premise of “rewarding content, all types of creation” the base layer and target mainstream adoption... then we expect people to invest time, knowledge, and growing teams. To build, market, and eventually succeed. They may also need $TEEM for that.
Bugs will always happen but it is kinda time we start taking this stuff serious because... Medium, the Guardian, or heck even Glitch.com aren’t going to build on this chain if we can’t show solid rollouts after extended trial periods.
Those only make us, and the “decentralization”, look st000pid, yes. Look like n000bs, pretty much.
We need to fix that, big time.
And we’re going to do that. Slowly but surely but time to step up.
my investment right now is zero and my payouts are not likely to buy yachts any time soon. Before the fork I had a few steem dollars and steem. After the fork I changed them into sp delegations to make sure that I will be able to interact with few people that I care about. that makes no difference to me.
Maybe one day you will get that yacht :) I also appreciate the users who are sorta "meh" things happen.
I still find it absolutely fascinating that it works as well as it does!
Answering this question would require having feelings on this topic... Or feelings at all. Which you know I don't have. It's all meh.... Fake internet money is fun, I am not worried.