Thanks! I'm very concerned about Steemit's centralized power over the network, particularly given the underhanded way it was obtained. If they don't handle the situation with some maturity and protect their investment we'll all suffer from it.
I think the core problem with Steem is that the distribution is largely centralized under the control of people who lack the economic understanding and foresight to recognize its true potential, and they're treating it like a ponzi scheme, which is what it will become if the rest of us are unable to keep them in check (https://steemit.com/fight4steem/@troglodactyl/is-steem-a-ponzi-scheme-repost-payout-declined).
For example, the change from the original 104 week vesting schedule to the current 12 week one was made specifically to appeal to a broader group of "investors" - meaning investors who are looking for a quick return now rather than long term growth.
lol damn it
they are both three letter names with an 'n' and a 'd'. Same difference lol.
Thanks! I'm very concerned about Steemit's centralized power over the network, particularly given the underhanded way it was obtained. If they don't handle the situation with some maturity and protect their investment we'll all suffer from it.
I think the core problem with Steem is that the distribution is largely centralized under the control of people who lack the economic understanding and foresight to recognize its true potential, and they're treating it like a ponzi scheme, which is what it will become if the rest of us are unable to keep them in check (https://steemit.com/fight4steem/@troglodactyl/is-steem-a-ponzi-scheme-repost-payout-declined).
For example, the change from the original 104 week vesting schedule to the current 12 week one was made specifically to appeal to a broader group of "investors" - meaning investors who are looking for a quick return now rather than long term growth.