Proof-of-Brain? More Like Proof-of-Circle-Jerk.
(page 2 of 32 SteemWhitePaper.pdf)
The users that take time to evaluate and vote on content are playing an important role in distributing the currency to the users who are adding the most value. The blockchain rewards both of these activities relative to their value based on the collective wisdom of the crowd collected through the stake-weighted voting system.
Wow, that's awesome! So what mechanics are in place to stop bad content from getting upvoted? Oh wait, there aren't any.
Proof-of-brain is a great idea. It's pushing Steemit along for now, but sooner or later users are going to become disillusioned that the entire system of proof-of-brain is based on investors using an honor system. We're just supposed to trust anyone who's invested in the Steem blockchain to allocate rewards fairly? How did such a good idea become so laughable so quickly? Just check out user rewardpoolrape.
I've written up a long post about Steemit as a virtual government. It's a declaration of independence of sorts, but I don't even want to post it because I feel like it will get very little exposure. I need to find a whale to support me. That's what I'll be working on tomorrow. Got the day off. Hopefully I make some progress.
Totally agree that this is a huge problem which the people that hold SP dont care to fix at this point. Until users leave and the price starts to drop, it won't be fixed.
We should set up a find the most profitable circle jerk challenge -
@jerrybanfield and @joeparys is my starter - the later also devotes 30% of his upvotes to.... himself and his use of bots is... quite out of this (human) world.
That paper sounds interesting.
We have to flag all the bs, but you make more Steem by liking and sharing the bs, unfortunately...
I was going to mention flags, but I deleted it because flagging is also broken. There is no punishment for wrongfully flagging content, which creates flag wars and trolls who don't even care about being flagged. Enough about that though. I'm trying to get into a more positive head-space.
Once humans are involved, they may Never be an Utopia. It takes a person to cut corner even when the road is short and easy, then a lot of people will follow. It is a brilliant ideology with nice fundamentals...the only downsides... Humans are involved and we want it NOW. Sad.