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RE: Why is the price of Steem dropping. And why it is to be expected.

in #steemit • 7 years ago (edited)

Without value the Steem.it ship will sink.
It is a mathematical certainty.

I have held my tongue but it seems that recently Steem.it is attracting people who see a dollar as if it were a full days' worth of work.
And now a dollar or two can be had here for some spam and begging.

7 years ago in #steemit by
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     7 years ago (edited)

    Hi @randolphrope, frankly I've only been here a few days but I can see that currently there are no tools to prevent it. @stellabelle mentioned that there is something being worked on but didn't go into details.

    Personally, I think more needs to be make of reputation score. A high good reputation should give payout bonuses. A new reputation should be neutral and a bad one could severely reduce the payout.

    However there is still nothing to stop new spam accounts popping up as soon as a reputation is ruined.

    I don't know, if the perception is you can print money from nothing then people will abuse the system.

    I think a more succesfull system would require someone to part with some value, in order to promote someone else's content and 'invest' in it.

    I go into my reasons why in more detail in this post https://steemit.com/steemit/@joannajablonka/steemit-is-in-danger-of-self-destruction-why-reddcoin-could-win . It's my first post, but to my suprise it has been well received by the community! So, I think there is hope yet as long as the core community remains supportive of each other and the platform.

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     7 years ago 

    Hello, @joannajablonka.
    Thank you for your reply and intelligent comment.
    I have read your post and it impresses me that you have a quick grasp of the current situation.
    I agree with your assessment of Reddcoin.
    And it seems to me that people who have to purchase something will not be begging for a few cents.
    Upvoted and followed.