Excellent write up and what Id say if I could put my thoughts ito words. There is far to much me me me and people just grabbing and converting. The people grabbing the most are some really big players here who are simply greedy. Ive bleated about this since I joined but it will be greed that will kill this economy. Thanks for speaking out, too many whales and witnesses look the other way and dont give a damn. Steem aand crypto should be about a fairer and empowering economy and NOT justa techie version of the existing totally flawed system
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Completely agree.
It is like a techie version of flawed economy.
The system should be encouraging for everyone then only more people would adopt.
Making money of newbies and minnows and not giving back is totally unacceptable. People are forced to do this.
As you said the big players , I must say not all, don’t give a damn as they are accumulating the wealth now and can affect the steem price when it goes up.
Thanks for commenting mate. What the bigger grabbers need to remember is that without us little people, they will have nothing to feed off. The system should bebfair and distributed which is why this is such a good article and especially important coming from someone with influence whomis a big time witness . Kudos for him for writing it :-)
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Very true.
thought provoking article
So what would you have people who put in a million SP DO? Redistribute their investment's earnings to everyone else? That's just crazy. If you come in here with 100 SP vs somebody with 1000000 SP, of course, that person is going to earn more - he/she is risking more and therefore has higher rewards. You can tell this person to contribute more to the platform because it will be for the better and in the long better for their investment but again, why should he/she be the only one forking their own dollars into the ecosystem? Investors invest for the BEST GAIN and if the best GAIN is of the nearsighted nature and at the expenses of the platform's growth, then it's all too human.
You miss the point. The point is we are trying to create a fairer system of wealth creation and distribution of that wealth. You are looking at the situation from a traditional economic model.
As I said, what's the point in any of this if we don't try a new way of financial distribution. I would much prefer to see the rewards balanced between creator and manual curator.
I also disagree about your risk/reward model. If someone buys in with 1000000SP I'd suggest they are more likely to be able to afford the risk. I'd also suggest that the time is a vastly more precious commodity than cash and as such, time spent here working hard is vastly more valuable than any cash investment.
At the end of the day, what did you or I contribute to the genesis of this blockchain which afford both of us the opportunity it does? Do you not think that we have a moral obligation to at least use the place as a community for the betterment of all rather than simply a place for a cash grab?
YOU have been provided with an opportunity by someone else and obviously have a few dollars to start with and are now pulling many dollars in cash out. What are you doing to give something back ?
Give? You want somebody with 1 million dollars to come in and distribute their wealth? No, I believe I got the point exactly. WTF? Communism yeah I get it. I like it too. But be real here. Morals? You can argue about morals all day and year long all you want, but if you have this kind of money yourself, you wouldn't want to NOT earn any return on it. Sorry it's how the world works. As far as contributing goes...Money makes the world go round. If all you're spewing is rethoric and somebody is spewing hard cash their contributions is what will get things done...Not TALK.