This is actually great news to me. STINC had no business delegating millions of SP that they said would not be used for voting. All it did was massively dilute all other user/investor influence on the platform.
I hope they pull back every bit of delegation they’ve given out. That might actually restore some trust/confidence for some people.
I know that more than 500 artists. producers and musicians were posting regularly through @dsound , so it's gonna probably discourage a lot of people to post. It will have a very negative effect in the long run too. It all depends what you enjoy doing on Steemit, but for me it's essentially a way to show my music, and connect with listeners and other artists...
Dsound should find a better way to reward their users that doesn’t depend on a horribly mismanaged central entity footing the bill at the expense of the people invested in this blockchain.
All app developers need to assume their own risk and not continue socializing it for their own benefit. They’re going to realize that it won’t actually help anyone due to the disincentives for investors...which is already pretty obvious to most of us who comprehend economics.
Just take a look around and you’ll see the effects of supply without demand and rewards without risk.
We were chatting on DIscord about ideas to reward the users/listeners, it was quite interesting to see how everyone came up with good stuffs, I think at the end of the day the next few weeks will determine if a big chunk of the musicians will stay on Steemit or migrate...
I saw it at Steemfest, there's very little demand for music on Steemit, that's quite deplorable
I love DSound as well-there is a lot of drama here on Steemit, let’s hope for the best. ✌🏾
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You have to support projects since the 1.That stake is premined and they have no business holding so much STEEM and 2. Most platforms have a hard time competing since STEEMIT has no beneficiary fees.
If they burned a part of the stake or added beneficiaries to STEEMIT so others can compete for users then id be ok with the canceled delegation. They seem to still be uninterested in making any smart moves.
It wasn't "premined." But it was mined for a specific purpose and has so far mostly not been used for those purposes. It was specifically stated that the stake would NOT be used for voting on the platform. So, they get around that by delegating it to other projects of their choice to be used for voting on the platform? The effect on users/investors is the same and contributes negatively to demand for STEEM and SP.
Well, that sucks for the other platforms. Maybe they ought to figure out different revenue models and create interfaces that are actually appealing to users that aren't already in the Steem bubble and mostly just looking for more ways to acquire and dump tokens. Because other interface developers aren't good at meeting demand and creating appealing products isn't a good reason to go back on your word and dilute actual investor influence.
They'll never do that. I've been banging that drum for a couple of years now. They don't care and most of the platform has the same failed mentality of "Delegate to projects, guys!" You know...the stuff that consistently makes STINC look terrible/incompetent (because they suck at making good decisions with their stake) and drives away good investment.
I think it's more than being "uninterested." They're just wholly incapable. I would support protocol changes that fork all official STINC accounts out of Steem.
That's the fork I would be glad to see!!
Well, it kind of was. But lets say it was ninja mined unfairly.
The fork would be a huge risk.
it would work and dont see much risk for whoever implements,
also i think it would be very popular due to
this would have to happen before steemit inc accounts have powered down moved and sold so within 3 months
here's what they did exploiting system with stake to farm millions of SP god knows how much they've taken through upvote bots and various anon accounts farming
for a fork to remove steemit incs influence to succeed would need to remove all steemit inc farming accounts also as a significant amount exists with them