Reasons I doubt long term success in Steem
Here's a list of reasons, lemme hear your thoughts:
1. No PoW mining. Proof of Work is a critical part of why cryptocoins work. How does Steem have value when coins are just created backed by nothing?
2. Poor voting design. This blew me away. One guy with $48,000 worth of Steem has been able to completely downvote every one of my posts. Even one that already had 10 upvotes. What I learned from this is that centralization and censorship exist in a soft sense in that those with a 5 figure account can completely delete someone with a 4 figure account that has good posting history and upvotes and followers.
3. Whales on this site are poor quality people so far. @Klye's posts to me were all threatening to ruin my account and name-calling and demands that I do as he says. I saved all of it. He sounds like a pissed off teenager. @craig-grant mainly pumps scammy coins like Burst and Bitconnect, offers nothing of substance but just brags about how much money he has, and still able to pay himself with self-upvotes.
4. Self Upvoting. Dumb. Just poor design.
Actually Steem is beeing mined by the witnesses but they are not getting the main portion of the mined coins (only 15% ). Most of the mined coins go to the reward pool and therefore to the users who actually use steemit. Steemit still needs a lot of development and yes the whales are not perfect but the community is improving in content and side projects on this plattform. I think it is still a great way to monetize social content and also could be a great way to do crowdfunding but only the future will tell how successfull steemit will be.
Why do you think the price has been in a downward trend the last 3 months while other cryptos have been rising?
Also, what do you think of the fact that one person with a 5 figure account can completely downvote multiple posts from someone with a fairly established account (I have almost 300 followers and lots of upvoted posts and a 4 figure account)?
The "5 figure account" you refer to @klye has been here since mid 2016. You have been here since early 2017. Your moderately successful 300 followers pales in comparison to @klye 3000 followers.
You refer to him and another user as a whale account but they have less than $500k collectively. A "whale" is larger than both of their accounts combined.
Your reputation is 52 compared to @klye reputation of 71.
In a social system, I think it makes a lot of sense that @klye carries more power and influence than you do. I choose not to get involved in drama and bullshit that isn't adding to my skills or abilities, but apparently you were given an out but your pride was too much to just apologize for promoting your post on a "whale" post. You likely realize @klye has a large following and influence and tried to use that to increase exposure of your content.
This is fine if your content is related or you are allowed (or even asked) the original post author. On ANY OTHER SOCIAL MEDIA PLATFORM you can often delete another users content ON YOUR OWN content. Here on Steem, inherently censorship-proof, this is not possible. Therefore, downvotes or flags exist. This can demote a post/comment to a less visible status BUT IT CAN NEVER HIDE IT PERMANENTLY.
If you think hiding flagged posts is an issue, I suggest you take that up with SteemIt inc. They pull the data from the blockchain and their frontend hides posts that go below $0.00. A whale vote will always be worth more in both directions, up or down, than a lower user.
You also can't actually expect to have as much voting power as a user that has more than 10x your investment in his account currently, can you? Do you think stock holders with 1 share have the same level vote as those with 1000? How about those on the board?
Btw, @klye blows you out of the water with what he offers back to this community. He is a developer that provides open source to the community. Actual tangible products that can benefit other users.
(I am not taking sides on the drama debate. You are both petty for pursuing it. I am, however, taking sides on who is the more valuable user to the community at this point in time based off each of your current offerings)
Well said. I think the Op is just being cynical.
Yours.org is better
Agreed brotha, self upvoting... its whatever, but downvoting someone and completely muting them from the site if you want to? That only breeds conflict and negativity. Hoping steem will figure this out
I definitely can see how whales can ruin the opportunity of users to freely express their opinions. In general, flagging and down voting is a hard thing to justify, I'm wondering if its possible to create a platform with zero censorship.
I think it is necessary to some point, I just think there is a little too much weight given to the bigger accounts. When one guy can completely downvote like 20 posts of mine, that's too much power.
The problem with zero censorship is the loss of quality. Does free speech allow pro-fascist speech? If it does, the free speech is giving up its survival. It's like being Gandhi instead of JSDF. What we really need is governance with proper incentives. What happens to a whale that uses his/her power irresponsibly.
If you own a Dash masternode and make bad decisions, you are going to loose tons of money. In steemit you can get a bunch of up votes attacking someone and even self vote to award yourself some more wealth. There are many short term gains (including psychological rewards) and not everyone witness the irresponsible use of power. Only those who see the posts witness the bad actors actions.
So problems can grow in isolation and under the radar before biting everyone in the ass. The main problem is the lack of good governance. The bad actors can do the damage and cash out before even things start falling.
Resteem your post to 1000+ followers for only 0.5 SBD or Steem)
Just send 0.5 SBD or steem to @steemvote (URL as memo)
New Followers get 0.001 SBD$ and an upvote for free!!
Just follow @steemvote and...