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RE: Weiss report on Steem, Feb 16th

in #steem6 years ago

Great find by the Weiss group. I had seen the rating but not the write up of their reasoning.

All they say is true and a big reason why this will be successful. I have yet to hear anyone complain about the blockchain itself. Sure some of the apps have challenges but then again, that is true of all apps, especially when new. Any programmer will tell you bugs are a part of a coders life.

As for the distribution, I have been posting how the Whales influences is declining. It was down over 7.5% last year. The system is working. As more people sign on and take a larger share of the reward pool, those who have the large SP simply will not keep up on a percentage basis. Most of the reward pool goes to authors meaning the Whales cannot create content at a quick enough pace.

Plus, at some point, the early adopters cash out...the rewards get too attractive. We already saw that in a case or two.

Thanks for the find.