I should clarify. The idea of SP being frozen in the system for 7 days when delegated AND the power-down time of 13 weeks made it seem like there might be a way for the creators of the system to get a bunch of people on the platform investing into it and then pull the plug while everyone's money was frozen in SP.
Of course, after reading through the FAQs, i learned that is not the case and i understand why that mechanism is in place, but my first impression was that it sounded a bit "spoopy" to use the Discord word for links.
That's why i research. As much as it touts itself to be, Steemit is not truly decentralized, and as such it bears some concern that the system is being gamed for the benefit of the few that started the platform. Which, to a degree, it is. THAT is where my concern stemmed from. I didnt want to invest my money and time into something just to find out later that the creators were just waiting for the right moment to cash out. Once i saw that they would be beholden to the same waiting process for powering down, i was far less concerned, and decided to invest.
system is being gamed for the benefit of the few that started the platform. Which, to a degree, it is.
That's one of my concerns too... Actually it's really "First Come First Serve" system... but kind of one that even if you arrived later you still have chance in getting something out of it. (just less)
I'm sure a better system will come out in the future, until then... Steemit is very interesting platform.
I absolutely agree. This is still a very new thing, and there are many philosophies as to how it could be done better. In the meantime, I'm certainly not complaining. Just being realistic about the shortcomings of the platform. There are MANY benefits to being here, otherwise I wouldn't be.
Phe, make sure you answer directly to Helpie to get an upvote.. replying to Wylde wont get you one! hahahahah
I should clarify. The idea of SP being frozen in the system for 7 days when delegated AND the power-down time of 13 weeks made it seem like there might be a way for the creators of the system to get a bunch of people on the platform investing into it and then pull the plug while everyone's money was frozen in SP.
Of course, after reading through the FAQs, i learned that is not the case and i understand why that mechanism is in place, but my first impression was that it sounded a bit "spoopy" to use the Discord word for links.
Hmmmm.. yeah it can be understood as that. Though I knew it was made to reduce scam the moment I knew about it.
That's why i research. As much as it touts itself to be, Steemit is not truly decentralized, and as such it bears some concern that the system is being gamed for the benefit of the few that started the platform. Which, to a degree, it is. THAT is where my concern stemmed from. I didnt want to invest my money and time into something just to find out later that the creators were just waiting for the right moment to cash out. Once i saw that they would be beholden to the same waiting process for powering down, i was far less concerned, and decided to invest.
That's one of my concerns too... Actually it's really "First Come First Serve" system... but kind of one that even if you arrived later you still have chance in getting something out of it. (just less)
I'm sure a better system will come out in the future, until then... Steemit is very interesting platform.
I absolutely agree. This is still a very new thing, and there are many philosophies as to how it could be done better. In the meantime, I'm certainly not complaining. Just being realistic about the shortcomings of the platform. There are MANY benefits to being here, otherwise I wouldn't be.