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RE: Introducing the Steem Defender Bot. Designed to Protect Steem From Economic Collapse and Support Minnow Growth (Article)

in #steemit7 years ago

@bronevik and @igster. There is truth to what you are both saying about being able to abandon steemit, and that any hedge-fund who did this would be obviously invested into the continued sucess of steem.... at least until they pulled out.

This ROI Steem-automation process would in fact happen over the course of many years.

Think about this; even if a hedge-fund does this so intelligently, that steem never crashes.... Would you still want that?

Would you want an group that doesn't add value to steem to benefit from 20-50% of the entire steem reward pool?

Regardless of whether the hedge-funds will crash steem, We believe it is so important we reduce the capacity of the extremeley wealthy to milk our economic system.

Do you agree that we should do our best to make Steem a fair place wherin no individual or group is allowed to reap massive amounts of steem without adding value to our community?

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There is a reasonable trade-off between inequality and growth. Ideal asset equality is when everyone has nothing. Here and now we tolerate rather significant levels of inequality. But even whales here are pretty social. For now. In future it might become a problem then we have a few solutions in hand like sqrt-like vests curve or more complicated reward system.

I do believe that the properties of open and no-barriers crypto systems prevent extreme totlitarian scenarios by themselves. We just need to take care of rough edges as soon as they become bounds to growth and development.

And as someone is sucked into the power of their reasoning tone.

There is a reasonable trade-off between inequality and growth

No there is never a reason to be party to inequality. NEVER. Remember WWII Hitler, the Nazi's, and the final solution. There is never a reason to be party to inequality!!!!!

For socialist utopia please proceed to another blockchain.

"Would you want an group that doesn't add value to steem to benefit from 20-50% of the entire steem reward pool?" As I said before, if they'd have this big of a share, it would be in their best interest to provide value. Pulling out takes time and if that would be to happen, people would eventually scoop up enough cheap Steem to make it rise again.
Or do you think they would blatantly use the system, making everyone else power down as well, hurting their profits immensely?

It's good to be thinking about these scenarios. I'll think about it, but if some major player would begin to try and get all liquid Steem, let's say 50 million out of 250 million total supply. This would drive up price insanely as in your scenario they would need to power it all up. As they drive the price up, those who have the 200 million can start selling as prices go lunatic (imagine minimal liquid Steem) and buy back lower.

These are just my initial thoughts.