RE: Why Do We Bother To Create Content At All? Better To Abuse.
As a user who has returned after several months of being away from the platform, I totally relate to your frustrations with the way rewards are distributed. I have written extensively on the subject of steem's value relative to other cryptocurrencies in recent posts and I am convinced at this juncture that the disarray the platform finds itself in has contributed to the lagging performance of steem despite the epic bull run witnessed in the broader crypto market.
Ned recently tweeted that steem should be a Top 10 crypto. To me this is wishful thinking if one considers steemit as it exists today. I agree only on the basis of the platform's inherent potential, but the potential to me is squandered by the lackadaisical execution. And your post points that out clearly. If this isn't raising concerns among those that have an ability to effect constructive change, then I don't know what will.
Yes, I would say top 10 is quite a joke at this point. Assuming, of course, that Steemit is any part of this equation.
If this is all a dress-rehearsal to "tokenize the web" and nobody actually gives a fuck about community, blogging, meritocracy, reward distribution etc. then perhaps he's right.
After all, Ripple, premined garbage was #2 market cap briefly today.
Agreed. I think the value of steem is inextricably tied to the perception of the value of this platform. And with all of steemit's deficiencies, I simply am dumbfounded by Ned's assertion that it warrants a Top 10 valuation in the global crypto space. I would agree with such a valuation IF the execution of the underlying idea behind steemit (reward for quality content) was done correctly. The entire ecosystem of voting bots proves that this is simply not the case. If you have a chance to comment, I would appreciate your insights on a post I recently published entitled "Reflecting on the Value of Steem - Part II".
"Agreed. I think the value of steem is inextricably tied to the perception of the value of this platform. And with all of steemit's deficiencies, I simply am dumbfounded by Ned's assertion that it warrants a Top 10 valuation in the global crypto space."
He fundamentally disagrees with your premise. He thinks the value proposition here is almost entirely SMTs, because he's going to "tokenize the web". (lol)