RE: This Quote from the Steem Whitepaper is Very Relevant to the Self-Voting Debate
When it comes to the value of Steem, it's pretty simple. We need 1) more people on Steem and 2) we need to find ways to curb the Withdrawal:Deposit ratio. The scarcest thing that Steem has is people buying Steem with Bitcoin, USD, Ethereum or whatever. This is the chart:
https://plot.ly/~lukestokes/96/withdrawal-to-deposit-ratio-by-user-count-over-time/
I encourage people to read @lukestokes weekly exchange transfer reports and see the relationship between people cashing out and buying in. I have no good solutions for this as everything is a trade-off.
The community can upvote less often people like TDV who sell off every cent they earn .
They can shade their voting to people who have a track record of not selling Steem.
We can reinstate bigger gates on SP so it takes longer to withdraw.
We can tweak it so that just powering down removes the voting power of your SP and tweak it that way.
????
We're not there yet in any way but so long as people keep their heads up, use Steem, experiment with its incentives, and work together, Steem will keep improving and maybe we'll find an equilibrium of sorts that works.
I so agree...As of the moment there are still so many out there who wants to be in. Maybe soon and hopefully so we will reach a certain equilibrium...because of this, I finally have decided to buy Steem.
Well said @eeks!
That's the great thing about Steem power, it really helps out the Steemit economy. It was so wise for the Devs to make half your earnings go to Steem power ;)