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RE: Fourth Steemit Ramble Witness Chat Well Attended -- Recording Included
Can someone take notes on the next one for major topics? Or did someone make these into separate post?
I'm making some small notes as I listen to the witness chat right now, and had to run, but here's my takeaways so far... and I had to tune out after a bit, so it's definitely not everything.
- @witnesspage -- collects witness related updates in one feed. from @jackmiller.
- SBD--- Usual deal about value of peg. No progress here, really. Many views about how it should be. @burnpost goals to use stake to introduce downward pressure on SBD and upward pressure on STEEM via market trades. Reverse conversions has no traction at the moment.
- Value on platform as it pertains to users:
@lukestokes -- All value comes from investors. Users are freeloading off of free money.
Facebook comparison? -- users = Ads. Supposedly doesn't apply to steem.
@timcliff How does many users translate to $ for investors?
@shadowspub -- Users attract ideas, and those create business.
My note: Of course investors give Steem its price, but they are all speculating on a future state. and what exactly is that? What is the value going to come from?
About ads not applying to Steem: Actually, in the end ads are about exposure. If Steem has the users, there is incentive to buy such exposure. That's where it applies. Right now bid bots do the job apparently...
Bottom line-- no users --> no value. Currency needs adoption. - Bid bots
(@timcliff, @alexvan discussion) The figure about 1% votes coming from bid bots is irrelevant. Only steem power matters, especially if that 1% of votes is accounting for a high percentage of reward pool allocation. @lukestokes saw some stats, and that figure is about 50% (Need a pointer here, maybe it was @paulag analysis? and my reaction: WOW).
@lukestokes -- It is helping with promotion, but it is the wrong way to do it. Promoted tab was an attempt that failed.
(YES 100%. We could be fixing promoted so that the $ is going back to the platform to allocate more efficiently for other things of value.)
@alexvan -- Before bid bots, trending was terrible and repetitive, controlled by whale votes. Also, before bid bots the vote trading deals were happening off the chain. (Also true.)
@timcliff -- Small people always get very little, whether it is bid bots or whales placing things to trending. And they will always feel it is unfair.
Other snippets-- It's allowed by the rules. Because everyone else is doing it, it would be stupid not to do it (though the quote seemed to be talking about from the bidders' perspective, not delegators). No consensus among top witnesses about whether it is good/bad, and many of them run their own.
My take? this post.
These chats are valuable to the community, so this is all really great to see. Cheers.
Thank you for the points. Also I added that taking the bidbots out will only open room for votes being sold outside the blockchain which is not transparent.
Ah yes! I was going to add that in as well and forgot. Let me do that as well.