Hi Bob. It is really awesome that you care so much. The idea you are proposing is a great recommendation. The problem with what you are proposing though is that a drastic change to the "property rights" like what you have here would not be fair to everyone that has bought in and invested resources based on the way the blockchain was proposed in the white paper. Changes like this to the fundamental nature of the blockchain and coin are typically things that kill projects like this, because there is no longer stability that investors can depend on. Many will think "if they just made a change that screwed over all their existing investors, what's to stop them from making another change that will screw me if I decide to invest".
There are definitely some issues with the current dynamics of the way funds and rewards are allocated, but they are solvable problems within the constraints of the existing framework. It will take some time to get there, but many solutions are in the works.
Where are these investors concerned about change? Surely they would be involved in this discussion no?
There is barely anyone left here man. Anything that can save the ship will do.
People invested in this project to make money, most people lost everything already especially those who bought at the top and the inflation is not going to compensate them, it's going to send the price to 0.001$ and lower. How is a change that can make people's investment finally growing in value unfair? Investors don't care about change as long as it benefits them and if you think removing the inflation will screw the system even more then you need to learn basic economics :)
What OP is trying to tell you is that "No matter how many speculators are doofed into buying Steem - the price will not sustain upwards." and he is totally correct. The current system is fundamentally flawed in that it is designed to suppress the steem price. Because of that the future growth of the project is compromised.
All the existing investors have been screwed already, people bought from 4$ all the way down, they already lost a ton of money and they never gonna see it back with such inflation. I mean can it really get any worse?
what stability? please look at the 2 months chart man
People seem to think that removing the inflation down to a normal level is a major change, it's definetely not because as I said multiple times the inflation had no purpose in the system at all.
Steemit is beta software, it is an experiment, investors knew that and I am pretty sure investors welcome any change that will turns this situation around at this point.
When the price hits 0.001$ people are going to beg for change .
You assume that the price is just going to keep heading down to zero, which is not necessarily going to happen. If the price does recover and go back up past it's current high, then a lot of the people who made large investments with assumptions about how the blockchain would distribute STEEM would not own shares of the system they thought they were buying into. Every change to the property rights is going to have winners and losers. If they start making changes to who those winners and losers are, then it starts to become very unfair to those on the losing end.
You assume that steem economics are sound.
SP holders inflation rate is already 10%, getting the inflation of steem to that level would make absolutely no difference to investors's expectations and wouldn't change the % of share that they have.
The idea that SP holders receive some free token issued by the blockchain is an illusion. It is just a compensation for the unnecessary inflation. Remove the inflation, stop compensating people and you have the exact same system in place.
What do you mean losers/winners? Everyone would be affected similarly by any change.
Highly unlikely, the more coins are being printed the more money would have to be invested in the future to get the same price/steem ( rewards on the platform) . The hyper inflation makes it more difficult every day for steem to go back to its previous high. The longer we print the harder it's going to be to get a high steem price, and this will have consequences even after a change is made to remove the inflation. The idea that locking people's coins will prevent the negative effects of inflation is pure delusion. You will probably understand the impact of this crazy printing soon enough.
We have different views, and both of us are making assumptions about how this will all play out. I see your point of view and get what you are pushing for/why. I just happen to believe that the way the system is setup today is better than what is being proposed. You probably will think that I'm being stupid or missing the facts of the situation, but really all it is is that we differ in opinion on what we believe is best for Steemit.
It's probably best to end the conversation here, because at this point I don't think either one of us is going to convince the other of what we believe is right :)
You think that putting unnecessary downward pressure by default on the price of steem is better than not put any pressure at all?
Please explain why you think the way the system is setup today is better. I have explained how removing the inflation is a much better system for 2 days now, have made multiple posts asking for counter arguments but have had none.
So I am really interested to hear your thoughts.
It's a lot of info to type, and I'll need to review some of my facts from the white paper first. Both of which are not going to be easy from my cell phone :) Since you seem genuinely interested though I will type up my thoughts when I get home tonight. Are you on Steemit chat? That would probably be a better forum for a back and forth discussion than replying to a post.
Unfortunately I am not on steemit chat. I d be glad to hear your thought here nontheless
Ok, no problem. I'll write up my thoughts tonight.
I replied in the other thread where this is being discussed, since there is more traffic there.
https://steemit.com/steemit/@timcliff/attention-sharks-there-is-blood-in-the-water-are-you-ready-to-invest#@timcliff/re-snowflake-re-luminousvisions-re-timcliff-attention-sharks-there-is-blood-in-the-water-are-you-ready-to-invest-20161026t235001037z