RE: Self-voting user list since HF19 - PART 3 (potential comment abuse)
Agreed 100% I am quite sure it is a ponzi scheme. The longer the big names in the top 19 witnesses hold out on refusing to address this issue, the more guilty they look. I laid out the scheme pretty clearly as to how there has never been any real power for anyone except the in-crowd over sufficient control to determine hard fork vetos, or not. Between @dan, @smooth, @abit, and a couple of others, there is sufficiennt voting power to pin at least 14 witnesses to the top 19, which basically means they control what little vestige of democracy there is.
Never mind the fact that steemit arbitrarily defines such changes as giving minnows a 25% vote capability (which is possible even with bandwidth limits), or even considering banning direct self voting, as 'feature requests' that repeating such offence (even if on different topics) will get you banned from the github, and that you must 'post it here in the forum' where, wouldn't you know it, anyone with any amount of voting power that could propel it to the trending page, where supposedly stinc might start to consider it, except they merely have to pointedly ignore such posts and nobody ever sees it and by magic, their power continues unabated.
It's the most gratuitously fake corporate democracy ever. The shares were issued to the inner circle at the beginning, and they have used their excessive share as a group to lock everyone else out. I am pretty sure that if this was a regulated asset (steem power), that the way these people acquired such a humongous share would be 'insider trading' because insiders, members or employees or other close associates, are not allowed to buy the shares until sufficient advertising has been made to offer shares to the public.
Make no mistake, steem power is a share. It even says so in the whitepaper, indirectly, right near the top, when it talks about reddit talking about giving users shares and this giving thtem power in the system.
Now that the SEC has ruled on the subject, I think that they should be informed that 250 million dollars worth of market cap included a closed early share issuance in digital form, that constitutes insider trading, and is being used to shut out competition within thte corporate democratic system and milk the small shareholders of their assets.
I have not either mentioned that the actual infrastructure has a built-in ticking timebomb in that eventually, the servers will not be able to complete a replay and the site will cease to work...
But people think I am exaggerating in all these things. How could I possibly be so sure about this? Go look up the limitations of graph database systems, for a start, and search for 'large binary blobs' in connection with this. Binary, or UTF-8, it really makes no difference. Large Blobs. Eventually it causes this type of database to become non-functional because of the explosion of indexes and index sizes. I wouldn't even be surprised if Graphene has a hard coded limit of 256Gb shared memory (if we are lucky, if it's 128Gb, it will exceed its own memory addressing capacity withtin 6 months).
I love reading your analysis, even though I'm unsure what to think.
I don't know enough about these systems to have an informed opinion on this, but do you think that this is Dan's warm-up act then, and before it technically exhausts itself, he will bring it down, and transition to EOS? Does EOS also have these technical problems, or have they been addressed in some way?
I do find it hard to imagine that the blockchain couldn't be somehow truncated (so a complete replay isn't necessary), and earlier stuff archived in some way, whilst the new continues. I know very little about blockchains though, and maybe I fundamentally don't understand the situation.
I do wonder why you worked at being a witness if you knew of the inevitable demise of the infrastructure, or did you learn that later?
Since Graphene is open source, would it not be fairly easy to determine to what shared memory limit is, if that's important?
snort yeah, I don't think Dan gives a flying fuck about what mess he left behind, nor do I think that his new system gives any mind to fixing it, I am pretty sure it's just another racket that he thinks he can get away with.
Yes, I learned and watched the process of decay during the 6 months I was working on and off with
steemd. For every improvement, there has been a greater overall decline. The only way the technical problems won't become even bigger than the game mechanics problems, is if they spend at least triple their current budget on development.Yes, I would think it would not be hard to discover. The thing you need to look for is the size of the shared_memory address byte size. That will tell you how big it gets before it runs out of actual addressing capability.
Not happy to read that. If it is a Ponzi Scheme I should withdraw all my assets immediately and stop posting here. Not sure if I want to do that though. :(
I'm powering down, and getting whan I earn back out as quickly as I can. I even had made the mistake about 6 weeks ago, of putting liquid steem (1235) back into SP after being delayed 19 days by Poloniex.
I'm continuing to post and comment and vote here, as long as here still exists, but I'm no longer in any delusion about the sustainability of this platform, and I feel a strong imperative to quickly build a basic replacement that will provide for the needs we have all acquired by becoming accustomed to using this platform.
Hopefully within 6 weeks there will be a working forum, rewards system, and an initially non-rewarded base of servers running the software, and a basic web interface for the discussion and voting system parts.
I will be getting on the task within the next 24 hours. I don't think I can make any valid excuse not to get going on it now, even this sleep problem, I have to fix it right away. The same with the allergy problem I am having, which is probably connected. This allergic dermatitis I have at the moment is especially irritating.
I don't know what to say. It just pops the biggest bubble of hope in my life and I feel like I am drowning. Steemit was my last resort.
The doom still needs some time to fully play out. At least 6 months. Looking at what Randowhale is doing, (and bernie's other philanthropy projects) possibly he is putting a brake on the doom a little, I would guess that you can still make some income for at least 3-6 months here. I am not stopping posting suddenly, I just am not powering up new money I receive other ways, and I'm sending my surpluses into Dash tokens, which I believe will outperform all other cryptos during this next 6 months (not investment advice, just what I am doing, based on Dash's superior governance and the fact they may have a banking licence in the next 6 months).
You can still make something of steem as an author. It's just a terrible investment, don't buy Steem Power, likely you will lose. Only the pigs who are self voting comments, and sucking up to whales, who are diverting more than half of the rewards pool towards their arbitrary taste in posts - ie, cheerleaders and sycophants, who are blissfully ignoring the warning signs that something is wrong here.
This is why I don't earn big rewards, but I don't care. I used to be a cheerleader, because I believed in the idea. But the more I had to do with the software behind it, and the more I saw the character of the people with the biggest stake, the less reason I could se to continue to have faith in it.
Don't worry - you are not the only one who has a need for what Steem theoretically provides - a means to monetise content without copyright or intermediaries. I am trying to build a replacement that optimises everything, but even besides this, if you are interested, there is Alexandria.io, Ark.io, LBRY, and of course Synereo and Yours.Network, that may serve you better.