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RE: Is Steem Witness Voting Fundamentally Broken?
Resteemed.
In an ideal system, all witness votes would be reset after a year, forcing users to re-vote for a witness instead of leaving the same witnesses at the top indefinitely. Instead, a number of top 100 witnesses are exiting Steem and giving up because they can no longer milk the system, or because they're broke. This is leaving a lot of wasted votes, and the remaining top witnesses are by default voted to the top because votes currently last forever. This is ridiculous, and is a huge oversight. It's not the first time I've talked about this either, as the witness voting system was designed with extreme bias.
Please make a Steem Proposal for the DAO. We need to make this a community place. ;)
The problem with DAO here is that the process will favor the already established power system that is supported by well-known stakeholders (some witnesses pay a % of their witness revenue to X as a form of a bribe to keep certain votes).
Yea.. Too established.. moneyflow.. but there are also some really community-open, transparent and community/platform-focused witnesses. also in the top 20
we just have to adjust money flow.
sneak the community in..
I'm thinking of creating a SPS for a tool, which involves the community more into development..
@dr-frankenstein @briggsy Proposal is up. What do you think of it? Any suggestions? :)
The thing is already taken in hostage by the refund proposal, so no one will be getting anything unless big SHolders decide.
.... told ya
There are over a million Steem accounts, and but a few thousand users today. Unless the witness votes of abandoned accounts expire, all those votes will continue to support whatever witness they were cast on forever.
Witnesses receiving those votes are dependent on them, to some degree. What degree is unknown, and all we can be sure of is that witnesses will oppose removing that zombie support for them because it might cost them money. However, HF21 is presently eliminating the Steem community by demonetizing accounts without support from the ninjaminers, so it's pretty much a moot point anyway.
Thanks for trying!
So.. it's over..?
Yea the Zombie Support is ridiculous. There is so much ridiculous shit going on on this platform..
And instead of fixing that. They just care about the money and take more.
People love em for that "newsteem!!!!!" (facepalm)
Why should ever new users come to a platform with these fundamental flaws? Why should they ever invest?
I mean the newsteem argument was smthn like this: Yea you get 40% less rewards, but that's okay, cuz the price per steem will rise and you make more..
All these newsteem people are totally brainwashed. Think they do business.. In general american people are totally brainwashed with their business bs..
It could be over soon. The #newsteem argument you recite fails to acknowledge that price does not rise when more of the value of content is captured by stake weighting. It falls. Worse, creators aren't going to get 40% less in rewards than they did when user retention was ~5%, it's more like 75% less rewards.
I don't think this was a mistake. I dunno exactly the reason #steemkillers are doing what they do, but I don't think it's an accident they're doing it. The ninjamine has completely centralized power on Steem social media. Steem has never been decentralized. It appears it never will be.
Disappointed, but not surprised.