RE: Why a Steem Power reward cap would be as controversial as the block size cap in Bitcoin [FAIRNESS vs FREEDOM?]
Summary by @tldr:
It gives an unfair advantage to high net worth individuals who can now buy as much reputation (Steem Power) as they want, while everyone else is capped.
Steemit has wealth from we who engage with it, and only by giving large rewards to great people can we expect to retain them.
In order to reward long term commitment to the community, I think we have to prioritze reputation and Steem Power.
I think for example @dollarvigilante gets such high payouts because of who he is, who he knows, and his established fanbase, and I think it's perfectly rational to reward someone like him higher than most bloggers.
The rich yet involved investor example For example if I don't know anyone in this community, never post, never care about crypto, Steemit, don't share any values except profit motive, but I work for a big company, and my company pays me a very high salary which most people might see as dramatically unfair (way more unfair than these $20,000 posts), then I of course would be free to use my acquired dollars no matter how I acquired them, to buy unfathomable amounts of Steem Power, and there is no cap on me when I want to buy reputation.
But people who actually care about Steemit but who have nothing but time, cannot ever compete with my ability to simply buy whale status?
In addition, I notice the people who are trying to make Steemit fair are focused very much on the dollar payouts instead of the Steem Power flow.
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The success of steemit depends more on investors who buy steem power than bloggers who earn it
Try thinking about it like this and we are on the same page:
The success of Steemit depends more on "players" who power up their avatars with Steem Power.
Distinction is made between "investors" and "players". Players are gamers who interact with Steemit because it's fun and who don't care if it ROI as long as it's fun to play with. This is the same mentality we see from players of Diablo, World of Warcraft, and it guides people to want to upgrade their Second Life accounts by buying land, or upgrade their MMO experience by buying in game properties for sake of in game status.
The point is, the game world is seen as a virtual world which is more fun and better than the "real" world. The investors on the other hand bring in all the legal consequences, all the adulting, all the real worldness that people go to social media to escape from. So if you're talking about millennials looking to have fun, they might pay unlimited amounts of money because most of the people buying apps are gamers. Investors do buy but are cheap and in the current stock market environment and with the current lack of embrace of these technologies, it might not be wise to sell it as an investment rather than as a game with power ups.
anybody who spends money on steem power is an investor, bloggers who earn steem power are not investors, they do not add $$$ value to the system, so their earnings should be limited, this also encourages them to invest if they love the platform
I must say, I'm surprised to hear somebody like you complain about steemit ... do you think you got too much maybe? you could just send it to somebody else, you know ... I really don't understand why you would want to change the essence of steemit ... it served you well, didn't it?
and think about this; what about all those people that get their stories upvoted, not because it's so well written, but because it's a heartbreaking story ... those stories basically serve as charities ... should that be capped as well?
If you invest your time then you invested in the community itself. That does add value in the form of the content. But I do see your point about fiat value which has to come from somewhere but the issue is it's hard to get fiat in.
I think if Steem was as easy to upgrade as Steam there would be plenty of people upgrading Steem Power.
You are a creative bot at least. :)