A MESSAGE TO THE WHALES FROM THE KING OF STEEMIT!
In my previous message to the whales we pinpointed the problem we've been exploring as a community. Initially I thought the problem was simply that the whales were allowed to self upvote their own posts. At first glance this seems like an easy problem to remedy. Simply disallow users from voting their own posts up. However, the problem is much deeper, and dare I say, impossible to remedy...
@daydreams4rock:
"the whales have extra accounts to vote for themselves so blocking self voting will only harm people with only one account ie. new users --they also vote for each other in a kind of circle of self voting that boosts each other posts into the hundreds .. i accept it cause they are in the drivers seat , but like you say it is no use inviting new users with things set up this way"
Does this mean that steemit's design is inherently flawed? There doesn't appear to be any way to remedy this. Perhaps it's a lost cause...
You critizise steemit whales, but what you are doing is not any better.
Those whales at least invest in steem.
You only want the rewards with content that is not yours.
Im sorry but if there is a problem you are also part of it!
Yeah yeah go ahead and downvote you know im right!
Good to see your gang show up! thanks for proving my point!
All it takes is one idiot whale, who's invested his money in a dying system to decide that my content just isn't quite good enough for him and I get downvoted to hell. What a fantastic decentralized free system we have here!
Your content??? You just copie and paste from reddit.
If you do not copie paste al the time you would have my vote man, thats al in saying.
Just try to make your own content.
If everybody starts to just copie and paste, Steemit wil die.
Not because of a whale flagging you.
Just try your best and i wil give you my vote!
Have a nice day!!
LOL that's why steemit will die? not the inherent flaws in the system we've been discussing for weeks? because some of my content comes from outside of steemit? that's why it will die? ha ha ok, have fun on your sinking ship.
You stil keep claiming it is your content, yet i see you copie and paste the img, then a random comment.
Different reddit acounts everytime.
How many reddit acounts do you have?
And it is not "some" it is most of your posts.
But ok.
I geus im dumb.
I just want to see steemit grow.
It won't
I think this is one of the biggest problems in Steemit. In fact, it is one of the reasons I am hesitant to buy STEEM - I just can't see the system surviving into the far future with this kind of behavior happening. Instead of decentralizing anything, the system seems to 'centralize' money into those who already have the most. I expect that the more time passes, the more problematic this becomes, and the less incentivized new minnows will be to stay and try to compete.
If this doesn't get fixed, STEEM will not be like Bitcoin but rather will end up like Dogecoin. That too, was once the community tipping coin, remember. All I can hope for is that the people running the show, the developers etc, are smart and wise enough to be working on solutions for this already.
perfect analogy to doge. You and I are on the same page completely.
Sadly, I don't think there is anything the devs can do about it. They can't disallow people from creating accounts, otherwise the platform won't grow. There really is no way technologically of remedying this situation as far as I can see.
I think the only way to remedy this is by use of digital identities. Maybe some collaboration with Civic or similar projects. If we can limit the system to 1 account per person that should fix some of the problems.
But I am doubtful this will happen anytime soon, if ever, because digital identities aren't quite there yet.
I also wonder.. if you can just make many accounts, what's to stop somebody from self-voting themselves into Witnesses? Take that one step further: What's to stop somebody from self-voting multiple of their own witness accounts into power?
Take that one step further: what's to stop somebody from taking over the entire system this way over time? Game theory says that if it's possible and profitable, it will happen one day.
I wish I could give you 100 upvotes right now
Haha, I'm happy to receive one too! thanks!
Very interesting! Probably that's the problem that none of the website of the same group grow on their coins value: becaue their is manipulation. Wow! I think they have to put an end to that because as soon as people notice it, they will be leaving.
No pay-to-win system ever lasts, and neither will Steemit unfortunately.
People like Jerry Banfield, and his crony whale cabal at the top, will bleed Steemit dry.
However, there is a silver lining. The smart media token will allow other, and better websites to monetize their content, which are places that the whales on Steemit cannot control nor dominate, so we'll have to see what happens with those before totally giving up on the Steem token.
I was thinking about that too. Theoretically STEEM could die off, but a SMT built on top of STEEM could survive... I think ...?
Although, in the end, STEEM needs to be profitable in order for the subchains to survive, or there is no blockchain to host it on? So if STEEM's value decreases or gets destroyed, all the SMTs will starve with it?
We shall see, but just keep in mind, Steemit was just a hobby experiment for Dan, and his EOS token will be used to build Steemit-like platforms galore.
Eventually, one of them will get it right, but I do believe Steemit's initial launch was flawed.
They should of put limits on how much Steem a person could buy versus earn, but they definitely have to do something. A 1% at the top is not going to equal out over the long-run, and if it stays... Steemit will definitely crumble.
But if people use EOS to build new steem-like chains, that will adversely effect the price of steem.
"Eventually, one of them will get it right, but I do believe Steemit's initial launch was flawed."
I think this is likely what will happen. Someone will build a new chain from the ground up very similar to steem, and will hopefully learn from the mistakes of steem.
Exactly right, but I would much rather put my money directly into EOS, because why invest in a gasless single product, when you could invest in them all.
"Theoretically STEEM could die off, but a SMT built on top of STEEM could survive... I think ...?"
I don't think so. Skimming the whitepaper it seems to me that STEEM will be to SMTs as Ether is to ERC20 tokens, so if STEEM is flawed and the blockchain dies, the tokens will go with it. Although, I suppose this doesn't say anything about the price of tokens. 1 ERC-20 token could be worth more than 1 ether.
As the owner of a personal blog, why would I use SMT when I can use ADEX or BAT, neither of which have all the baggage of steem?
I guess thinking about it now what I'll likely do is use all of the tokens that way if one dies and the other survives I'm not out anything.
What steemking is doing is also a problem, most of his content is just grabbed from reddit from random people.
And he is trying to make money with it.
The wales on steemit at least invested in steem so they are doing something for steem.
Just taking random content from reddit with a random comment also grabbed from reddit.
Mean while honest people are trying to make some original content.
Then this guy comes and spams copied reddit post.
That is a problem in my book.
But if he keeps this kind of posts up and sparking discussion is good.
Have a nice day!
I see some pretty lame posts bringing in big $$. @sherlockholmes found someone with over 300 accounts that post 2 word comments over and over on the main account. As for me I'm goin to stay honest in my doings here on steemit, and when I see posts that other could benefit from I will resteem it. I get like .02 on any post that I make. I created my first video the other day with hitfilm. I thought it turned out pretty good. It was short but hey I'm new. So far got a whopping .01 it is discouraging but I'm goin to "keep on keeping on" like Joe dirt says. Just trying to stay active and contribute good helpful info.
@steemking777 got you a $8.52 (4.0%) @minnowbooster upgoat, nice! (Image: pixabay.com)
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hi , excelente post , congratulations! :*
Nice post...
I already upvote and comment.
Very good my friend!
Amazing job @steemking777 Followed...
Good post.
I am still learning about Steem and how it all works. I found your article interesting and informative. I have a couple of questions about whales.
Thanks again!
.....upvoted and resteemed
Thanks! That clarifies it for me.
This post has received a 8.46 % upvote from @booster thanks to: @steemking777.
It is a problem. However, and perhaps I am naive, but I believe that quality content posted consistently over time will win in. A number of whales that I visited do not post much. Yes they make it on the curation rewards and other things but they arent putting up a ton of posts themselves. The flip side of that is there are many who do post a ton and reap in $100 an article no matter what they put up.
The only thing I can think of is to keep buying steem and powering up. It will take a while but the whales have a year start on most of us.
Keep steeming and see where it gets us.
@originalworks
But what if the people posting a ton and reaping $100 posts and just second accounts by whales who are up voting themselves?
This is why I won't purchase any steem, I'm too wary of these problems we've been discussing.
That could be very true and I would not be surprised if people are doing that.
However, steem is more than just this site. It also applies to DTube and now we are seeing the SMTs being built upon this platform. We are seeing the expansion of the entire ecosystem grow. While the whales profit at a greater rate, it does appear that those who have steem will also profit.
Just my two cents.
As discussed in the previous post. I don't care that the whales are profiting at a greater rate, it's that the whales have too much power to drive the community and the content, which is stymieing mass adoption. Most people don't care about blockchains or Jerry Banfield brushing his teeth.
Given this massive flaw in the core of the system, I don't think the ecosystem will grow. Everything being discussed in SMTs is already achievable elsewhere. As a developer, why would I develop on top of an inherently flawed system when I could create on a clean slate devoid of these problems?