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RE: Thoughts on the Worker Proposal System for Steem

in #steem7 years ago

Your ratios aren't as tragic as you indicate. Further declaiming against those seeking to increase retention, rather than letting it continue to slide is pejorative and whingy. We're losing content creators, and that's the source of value of Steem. Authors are not coming here, and Steem won't increase in price unless many do. The charge that decreasing author incentives further will decrease retention further is not unreasonable.

Implying emotional immaturity to those that point out that fact is nothing more than projection.

You're also wrong about risk. Spending time creating is a form of investment, and folks abandon their investment when they abandon Steem because the incentives seeking to keep them creating value in Steem are insufficient to justify that investment.

Rent seeking is antithetical to investing. It extracts value from the investment vehicle, while investors seek to increase the value of the investment vehicle to create capital gains. You're just projecting again, this time your own lack of understanding of basic investment principles. You double down on that when you point out you 'don't give a shit' about decreasing incentives to the only group that creates value in Steem. As long as you seek to extract that value as rent, you'll not see the system functioning properly, and that will be what prevents it.

Top witnesses are earning around $8k per month. It's ridiculous to claim authors are out earning them.

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You’re still not getting it and you’re arguing some points that I never made. I would encourage you to actually read the posts I linked earlier today. Most of your questions/claims have already been answered/addressed for the past two years.

To this point specifically:

Authors are not coming here, and Steem won't increase in price unless many do.

This has been repeatedly demonstrated to be completely backwards. Prices do not increase because users/authors increase. The influx of new users comes after prices rise and then they leave as prices fall.

Why does that happen? Because all of those precious “valuable” authors only come to extract value from the system, then abandon the system at the first sign of decreasing rewards. Meanwhile, the invested users, whose investment and voting habits gave those authors their profits, are left with another few thousand abandoned accounts and people whining about how unfair everything is...again.

So, no - authors who come after the price spikes don’t really do much of anything for the platform. If they stick around and keep their stake in the system, then that’s a different story. But then we’re talking about new stakeholders who are incentivized to power up (or stay powered up) and curate, not just authors who dump tokens.

And then we’re back to the same issue: Incentivizing non-bloggers to power up and contribute to the system so that it properly functions, which is the entire purpose of curation rewards. And again, this was addressed and discussed in the linked posts and the plenty of comments on them.

One last thing:

No top witnesses are making $8K per month right now. That would mean that they are earning over 26,000 STEEM each. Check current prices and earned witness rewards.

Good job conflating creation of value with marketing of Steem. Authors come here because they hear about Steem from price increases. They leave for reasons. Price decreases.

As to every other point I made that you ignore, well...

Apparently you can't into $=Steem.