Bigger rewards while the price crashes because everyone sees it as a pay yourself scheme not much different than all other ponzi schemes? Buying steem just to vote on yourself is hinged on the end goal, which is to eventually cash out and return a profit, correct? If steem did not have curation rewards then this platform would have imploded long ago as surely no one would have invested, as you observed, simply to give others rewards. The same for downvoting, without it, this place would have become a prisoner dilemma in no time, where despite the curation rewards no one would risk voting for anyone else. The only way for this platform to succeed is by utilizing the mechanisms to encourage others to power up what they are rewarded and to invest by buying steem. If everyone were simply paying themselves, surely you can see that it wouldn't be sustainable, much like if everyone only voted for themselves, because none of that encourages anyone to power up or to invest. That's why the proposal is in place, that's why downvoting exists, that's why curation rewards are so important.
you are just wrong, no matter what you do with your click the coins will eventually get cashed out by somebody, cause thats the game btw it's called make money and imagine bitcoin changing there white paper shit to say well next week were gonna have 42 million coins , what do you think be the investors reaction would be. The whales are not only to lazy to be good authors most are not and even more lazy to curate they really want money for doing nothing this is really not good cause reduced authors rewards will mean less content , less content means less user engagement But you seem to THINK you know it all but just dont know how to count LOL :)))
50% is less than 75%
Sure retard, there will be less content because people weren't here when the price went to six cents. You think the whales are evil/lazy, why the fuck are you here then?
imagine what my two bitcoins would have gotten me then hmm every time they play with the voting nothing gets achieved and the coin gets dumped you wanna know why i tell you why because in the boardroom meetings all over this planet of the really big firms they hear dissension bad stuff reviews anger down voting with so much choice you wanna put your money there. please stop looking back you can't see where your going.
"every time they play with voting nothing gets achieved".
In other words, you're completely OK with the incredible disfunction. Also, the curation rewards have been the same almost from inception. You act as if they're idiots "playing" with it, instead of having a clue at all, but you couldn't say shit about the fact that 75% is coming from 20% and ever shrinking organic curation.
You clearly can see where you're going, you're not an imbecile who cannot count like me. Take it from the most degenerate scumbag in this place, you're top notch, you don't belong here, go make it better, before someone else does, the invitation was there to all those NOT Retarded boardroom meeting attendees since day one: OPEN SOURCE.
How is rewarding yourself any different than staking which is offered on many (much more successful) cryptocurrencies? Do you not believe staking encourages holding (powering up)?
I put thousands of my hard earned dollars into steem power as a gamble that the price will go up and I get some nice residual income coming in... how can that be so frowned upon... Dash masternodes require locking up dash to earn money so why not lock up steem for self voting?
Because we are not just straight proof-of-stake.
The reward pool has a network and, if there is no sort of value being added to the network, it makes the rationale to participate much less compelling.
When I say value, I mean knowledge, art, music, humor etc etc.
The "stake and take" mentality is a slap in the face of every one of the users that strive to do the above.
It cheapens their labor will the lazy stack coins... Coins that will degrade in value as inflation continues while the pool of those willing to buy those coins diminishes.
I used this same analogy on another comment.
Would a moth be attracted to the lamp lest there be a light? Be the light.
I put thousands of dollars into steem just to get #bitchslapped every day here! Don't complain, you got it good here!
You should probably stop downvoting people then
Self voted to offset retards downvoting me
Powering up already earns you 12% ROI/year, without doing anything else. There is something very wrong with "pay yourself" exclusively, which is why I put the emphasis on "just" to vote yourself. First, when you lock your power in you're expecting the price to go up so that by the time you power down you can take profits, but if the price isn't doing so, you're obviously not earning anything. Staking by itself is predicated on that, so while it encourages holding, it's a gambit of long term profit taking. You might have more coins by the end, but if they are worth less than what you initially went in on, you lose. Steem inflation does not necessarily mean that it dilutes the value, just like the white paper points out, so when conventional wisdom says that increasing the supply devalues the currency, real world debunks that, be it USD or Steem. The market price is influenced by sentiment. If people have a lot of confidence in a place/project, then it will translate directly into gains. This is exactly what happened when the price crashed in the summer of '16, and exactly why the price exploded in the beginning of the summer '17. In the former case, it was the poor distribution to a few people that cashed out completely, in the later, it was the Whale Experiment and the build up of the engagement that blew up. Think about the first thing I said about if people see this place as unsustainable/ponzi scheme.. because the types of people who are attracted will be those high-risk-takers and/or scammer/marketing types, both looking for short term gains/pure speculation, zero logic or common sense, no scruples, pure hype. So what can we expect when they enter the scene? To exacerbate the already shitty situation. They won't stay long, and when they leave, it will be worse than before, because they have not added anything at all. The market is purely feelings and confidence. Powering up is supposed to increase confidence, the crux is that right now, people don't even have to power up, they can pay themselves with Bidbots. Why power up? This is the problem. The same thing with self voting, yes it's bad, and yes as you know, exclusively or almost exclusively self voting is terrible. The attraction for steem is that contributions get rewarded. If you don't believe in that, go to dash, go to those much more successful "currencies", but this place is much more than a wallet, in fact, the wallet is an accessory, noting more. The main attraction is the community, its certainly not "ROI" or anything like that, as this was evident by the fact that people kept flooding in after the crash in '16, but, if the use case for steem, or social media, dies or is bastardized then so will the price, and then the only reason to power up, to invest, is short term speculation. We can't have people taking and taking without adding anything in the long term. Yeah it's great that they power up, but if that power is abused like the haejin/rancheretardo what good is that? There's a good reason why self voting should be Much Much More risky than right now, the same for buying votes, and there's a good reason why Curation rewards exist. They all ammount to increase confidence and that will undoubtedly translate into increased demand for steem.
I see this retard under me:
Only a retard Gambles with their hard earned money, so taken for his word, classic retarded-af behavior. Does anyone need to explain that steem is not just a crypto? The idiot thinks that omg why can't it work like a dash? Because if everyone was simply paying themselves THIS PLACE WILL BECOME A RACE TO THE BOTTOM. It's very simple, it's antithetical to steem, and it evades all common sense to think that money trees exist. What the fuck does your stake add? Why expect that by adding no value you can take value, unimpeded. Only a retard could fathom "why can't self voting earn money". It can't, because it's a net negative. It adds no value, it only extracts value, and as all finite systems have a limit, it will literally be a race to the bottom if everyone did that. The only way to make Steem worth something is to add meaningful things to it, to give it value, to make it appealing to NOT IDIOTS AND Retards, and especially to the scummy high-risk takers that are no different from the assholery of the world who ruins entire neighborhoods by putting liquor store, bars and strip clubs in already shitty places, extracting all wealth from the community and exacerbating the poverty that they banked on, until they undoubtedly close up shop and move on, an option that the rest of the neighborhood does not have. You can self vote, but why power up when you can simply avoid that gamble and bidbot, though, I have a sneaking suspicion, that it will not be long before the strip clubs and bars will close up.
Only if people aren't selling that inflation at lower prices, right? Just wasn't sure on your meaning. Thanks!
It depends on how much is going to the market, if it exceeds the buying pressure then yeah it'll dilute the value, but otherwise it won't.
See what your problem is.
15% of 8.396% Inflation = 1.259% NOT 12% ...
I was wondering who was going to point that out to him.
It's not a problem at all, it's an error that ultimately changes nothing about what I said.
baah would not have a clue. hes a moron with faulty reasoning.
This is unsustainable! Get off you're high horse!
Me and poor Joe can't even be seen!
If even less than .01% of these votes went to me I could be visible! It is a sham!
