Removing the delegation feature entirely would solve many of the problems Steemians are complaining about. It has been, by far, the most harmful feature introduced into the ecosystem. In my IMO.
If delegation would be removed:
The bidbot business as it exists today would die out, and instead of creating passive income by delegating to bidbots, stakeholders would actually need to actively participate again. On the flipside, if one were to still choose to run a bidbot business, he or she would have to fund it with their own STEEM Power.
In general, having a say on the blockchain would depend on one's willingness to invest into the blockchain - instead of knowing the right ass to kiss. Why did people ever figure delegation was a good idea, to begin with? One of the key points to making STEEM an attractive buy was to gain a voice on the STEEM blockchain. That was the whole point: to incentivize buying the token. You dumb dumbs. Delegation simply meant that you can gain influence and completely bypass buying STEEM. Why buy STEEM and take a financial risk when you can just kiss ass for free and get the same end result? There's just no good justification for that feature. INC agreed to stay impartial in the voting of content on the site, yet delegation allowed them to skip that promise, and play favorites by delegating to the chosen ones. It never made sense to me.
Also, think about this way:
If you were to start a business, and instead of lending you money (that you'd have to pay back) the bank would just delegate you money, would that impact your drive to take care of that business in a positive way, or nah? Why bother trying because you can just play business owner with the delegated money, and when it doesn't work out, oh well. That's how I feel about a lot of the failed dApps on the chain. A lot of announcement posts were made, and upvoted to high heaven with delegated STEEM Power, but what came of them? Outside of a select few exceptions.
My biggest mistake on this site was not coming up with a project (not a product, a project) that I could have whined delegation for, announcing it, and maybe posting an update here or there to milk the rewards. I really do regret not being that smart when I had the chance, but oh well.
A lot of other people were.
All of this talk about the new hardfork to revive this site, but it still seems to be missing the biggest potential fix that could be made.
Yup. That's always been a huge problem. Everyone felt it as well, the moment those with SP stopped voting so they could get paid to look away. I've been saying it for years and where did it get me.
Imagine what would happen if they paid people to NOT buy books. Imagine what would happen if they paid people to NOT buy music, movies. Imagine what would happen if they paid people to NOT show up at the big WWE event.
...been saying it for years...
Fun trivia: WCW actually forgot on at least a couple of occasions that a wrestler worked for them, so they kept paying them six figures a year while they sat at home. Did any of them show up to work when they were being paid to do nothing? Of course not lol.
While it sounds ideal scenario can you imagine the impact it would have to some great apps that are doing a great job already? Ones like utopian?
On the other hand you have a solid case there. Why someone who has free money to play with, take any risk and invest just like the rest of us? Delegations might be a part of steems’s downfall after all...
This could be a great dpoll you know. To see what community has to say...maybe, just maybe our voice could be fuckin heard for once
Are you serious? Utopian has been an effin’ disaster for a long time. It was just recently on the verge of coming completely off the rails due to horrid management.
In fact, Utopian is one of the shining examples of awful delegation choices and consequences.
I thought they were doing a good job really.
So how come they still have that fat delegation? What about Oracle-d?
Edit: Don't get me wrong here. I am in favor of this proposal 100%
I didn't even know WCW wrestlers go paid six figures. I'd sit on my ass for six figures, no doubt.
The delegation is basically usufruct, it may have some technical problems that do not help the price of the Steem rise, but basically it is a reasonable way to put your capital into operation without resorting to theft risks. There are people who invested their money in Steem Power and then leave, while delegating a little, it is likely that without the delegation that Steem did not come to Steemit and to be held passively, but in an exchange available instantly to speculate, something that in the long term it would be worse. Or maybe I'm just raving.
Yes, delegations have broken the original ideas about stake, risk, and accountability, and they have helped concentrating previously distributed voting power into content-unaware bidbot votes, diluting the voting power of proper curators and making most content invisible.
Delegations will not be going away, of course, as the deciders-by-big-stake have a vested interest in their staying.
I never heard this argument before, and so far I have to agree. I just took for granted that delegation was a thing, and until now it seemed dead useful - lend money without risking it! Borrow money without being responsible (cause you can leverage it but not spend it) for paying it back!
Damn.
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Oh, yeah. Some people are going to be saying: "But blogger! You yourself have delegated away some of your STEEM Power! What a hypocrite, did you delegate to a bidbot?"
No, my SP is delegated to a friend @ocrdu since I've all but stopped using this site, and @ocrdu still manually curates content here to a degree, so I figured that it's good that the SP is being put to good use, at the very least.
But that does not affect my stance on the feature itself.
And if things changed around here, and I'd be incentivized to buy STEEM, I'd just buy him the sufficient amount of STEEM to operate on the platform.
To be tbh.
If I could upvote this more than once I would. What a great idea. It would crush bid bots overnight, incentivize people to actually use their power and make actual investments that would require forethought into the idea because real money would be at stake.
All without cutting Creator rewards.
And the biggest positive change in fiat world would be to simply get rid of the possibility to borrow your money to other people, I guess ?
But that’s different, though. You still need to pay back any money you borrow. So it’s a risk.
There’s no risk involved in delegation. No accountability.
The problem with the fiat is that the lender, that is, the banks, is not lending their own money, but gives the borrower the possibility to demand goods and services from a third party, and then charge interest.
You got a real good and valid point there. (though I'm affraid the witnesses running a bidbot will not be waving flags and cheering about this great suggestion)
Resteem nevertheless.
ty.
With the new SPS system, could we suggest that as a change to the system? HA!
Totally agree! Let me delegate some Steem to you to show my appreciation!
lol.
delegationes exsugent magna pilosa testicula asini
YobbyTHINK
After joining STEEM over a year ago and watching as many kiss ass, do pushups (literally) and mention irrelevant ppl for upvotes and delegations; for that I support this 100%
However the bidbots have long switched to profit sharing tokens on Steem Engine for example— so this wouldn’t affect them much, the good ones anyway 😒
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Oh, I don’t even know what STEEM Engine is, I haven’t really used this place for a really long time.
Used to be fun. Whenever I check this site out these days, it seems deflated and devoid of any passion, excitement, or life.
There’s actually a lot going on, less posts way more communities, dapps and tokens. Steemit is struggling, STEEM hasn’t been better barring price.
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STEEM is at an all time low vs. BTC, so is there really a case for these developments being a good thing?
Just by looking at the facts: STEEM has never been more worthless.
MOST altcoins are at lows when compared to BTC, so is there really a case for (any) of their developments being a good thing?
See what I did there? 🤔
STEEM has stumbled by a ton from the top 20 spot it once had compared to the top dogs. There’s just something STEEM did more wrong than others.
Speaking of shit, I took a dump in your wallet! Take a trip to the bathroom to claim your worthless SHIT!
Yeah, STEEM has gone from top-5 to sub-60 and still falling. I think the case can be easily made that all of these “developments” mean absolutely shit.
Nah bruh, I’ve seen way worse. Waaaaaay worse, nice try tho 😂
Enjoy your day
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Hi. Twelve days later and five days too late to reward this post, but this wins my most important post I missed on steemit. If this could somehow enter the discussion for HF22, mama mia would this place turn around. Just look at PALnet as an example of what Steem would look like with a fresh redistribution of influence and NO bots.
Fully in favor.