All of the fighting happening recently about voting bots and how to redo the math (Again) is directly related to the distribution Steem and none of the tweaks will be effective. A tiny number of people hold the Steem and their relationship with money and the community is already built into our system. You can change the system and the same problems will re-emerge. They will re-emerge because the same people with the same motives will continue to drive the platform. I can't see any way around it. I am not complaining, just stating it the way I see it.
The only solution is to wait for the wealth to become diluted
Last week this account with just over 10,000 steem power was 958th on Steemwhales.com sorted by Steem Power. I consider this account to be pretty tiny and when you compare it to Whale accounts it certainly is. Many of the accounts in that top 1000 are held by the same people. which gives you an idea of how very little diversity there is in the ownership of Steem.
The values and decisions of the people behind these accounts have created what we have today. You can even change the Math, the delegation, even the blockchain, but people trade things of value for things they value. The economy will find a way to reflect the values of the few people who hold the Steem.
No judgement in this post just an observation.
SMTs will offer an opportunity for new economies to form with the largest SMT holders being the people who are aligned with the objectives of the SMT.
I've been trying to wrap my head around the relationship between the demand for SMT's and the demand for Steem.
Lots more :)
Thanks for the insights, never knew what the fuss behind SMT was.. Until now :-)
I'm really interested in how they will affect the ecosystem here, but I want to make the case strongly that it is not an excuse for Steemit Inc, witnesses and whales to stop listening to the debate on fixing the incentive (i.e. payout) structure for Steemit. It really seems like this is the view which saddens me.
I agree that it it is important to keep discussing/debating. It is one of the most important aspects of the platform to get right. Unfortunately it is also probably one of the most difficult. There are trade-offs to every implementation, winners and losers to every decision, and there will always be some way for people who are only interested in maximizing their own personal stake at the expense of the community to exploit things.
I’m happy with the discussion that has been taking place in #roadmap2018. Hopefully some of the suggestions lead to actual improvements that get made in 2018.
Here's to hoping!
All I can hope for is to see more iniatives like utopian-io being created once SMT's arive.
Agreed.
After observing things for the past 15+ months, I agree. I even said as much yesterday on the Steemitblog post:
My super on-point comment!
At some point, we’ll just need to accept that the initial distribution doomed the entire blockchain and hope that maybe, someday, it might get worked out...but in the meantime, be unenthusiastic about things or even abandon it until it’s better suited for its purpose. Or...live with the fact that nothing can be done about that distribution and just accept whatever rewards and exposure we get while enjoying our own creative pursuits and/or interactions.
For those of us who have been here a long time, we should understand by now what the problems are - and the initial distribution of stake always seems to be the number one cause of them. I’m pretty much convinced that this is what has hampered investment/development and I’m not at all convinced that SMTs will make much of a difference.
I know I’ve said this a lot, but the only way that things can ever truly be rectified is if Steemit, Inc. and the rest of the early miners burned or distributed most of their stake - which I would never ask them or expect them to do. I do ask that Steemit, Inc. burn the stake in the @steemit account because their plan of multi-year divesting (selling) will only put perpetual downward pressure on prices. And that stake was supposed to be used for onboarding/marketing.
But if none of these accounts are interested in doing that, then there’s no point in constantly trying to “tweak” the code to make things better. They won’t get better that way.
On the other hand, if we are just going to accept the imbalances and the lack of investment, then we really just need to figure out whether or not we want a niche/exclusive platform or if we want mass adoption. Wrestling with the code, demanding posting/curating excellence, having unreasonable expectations...things could be different if there was some sort of understanding of what kind of social media atmosphere we want. Blockchain protocols and user/investor interests will vary, depending on what we’re trying to achieve. I don’t believe the code can accommodate both mass adoption and a pleasant/controlled user experience, especially with money being the prevailing factor for most user behavior. (I also mentioned this on the Steemitblog post - and it probably made more sense there.)
Anyway...those are some of my Friday night thoughts.
Interesting, I would have used different words, but my conclusion is the same. We can change it, tweak it, but the money will still flow to the same places for the same reasons.
It all boils down to "If you keep doing what you are doing, you will keep getting what you are getting.".
Same behavior (and values) same results.
Yep. That was much shorter than what I said.
Sorry...it’s later on this side of the country. And I’m old.
I liked when I first joined and everyone was telling me how by the end of the year Steem would be to the moon,
also that I should sell everything and invest in steem only, good thing I tend to not listen to anybody on a platform for incentivized kindness, I always assume all games are rigged until proven otherwise. That being said I've had fun times and met some cool people, that about sums it up
A lot of money apathetically follows money or pads their own pockets because that's the most profitable thing to do in the shot term.
I don't see money giving to those less fortunate very much, which is what will be the most profitable in the long run.
It's very frustrating to see this so transparently in front of us every day on this platform. Please keep posting thought provoking messages like this.
I also agreed With you @steemmatt
I follow you and I was thinking the same. But if bigger guys realy want to get maximum out of it, isnt it better then to act in creating a better enviroment in steemit wich everyone will benifit from? If they can understand that then there might be a way towards there. If there is alot of complaining they also notice and when it keeps people away or slows down the growht they should act right?
I don't know, people have been complaining since the beginning of Steem. When there was hope a problem was solved it just comes back. And it makes total sense.
Even when they try to delegate or spread the wealth, they do it in a way which reflects their values.
Something that is also important and I think no one mentions it, it is also these great whales that inject money into the market and make the STEEM increase in price, because none of those whales won SP just by publicizing, they injected their capital putting it at risk .
That benefits everyone.
Many people complain and ask for redistribution or something similar, I do not see it that way. If tomorrow the STEEM collapses and goes bankrupt, those whales will lose the most capital, because to recover the money you injected, even if it is self-voting, it takes a long time.
Some (not me... anymore) Feel since many of the large stakeholders mined, they don't deserve what they have. Shrugs, they have it, how they got it seems like a non-factor.
The idea that they continue to hold it seems more important.
I've been thinking about another issue regarding crypto-currencies:
What happens at the end? If Bitcoin has a limited run and then there are no more coins to be mined, who will run the servers? Why would they if they are not mining coins?
Steem is inflating at a constantly-reduced production rate. At some point, the rate of new steem produced would be too low to be worth being a witness. Again; who will keep the servers running? Why would they?
And if nobody is running the servers, then all our data is lost and the coin is worthless. Actually non-existent!
Am I worried for nothing? Do I mis-understand the process? Can anyone please enlighten me by answering my concerns?
@whatsup,
Steem was at cents and most of whale took that opportunity to be a whale of this system! Now it's not that easy to be a whale of the system! Anyway when SMT hits things might be changed! Then we can see more whales out there!
Cheers~
According to my observation, freedom takes a nice step. People who had started the war on the distribution of steem, are the ones who holds steem before.
Is there hope for steem with all this problems you have highlighted @whatsup?
Yes, there is hope for Steem. I haven't given up on it yet. The path is messy, but the opportunity is still there.
Ok.
wow greet post and nice articale.its very informational post thanks for sharing this
@whatsup - I can see two particular stories that come to mind when talking about the distribution problem:
One is to do with the people - https://steemit.com/whysoserious/@plushzilla/animal-farm-by-the-steemian-narwhal
And the other is to do with the money - https://steemit.com/satire/@plushzilla/hypotheticals-what-would-you-do-if-you-were-onboard
But this is only an indication of public perception about where we are, not necessarily where we are going (I hope).
Yah also Thank you for upload it @whatsup
This post has received a 10.00 % upvote from @booster thanks to: @whatsup.
A nice idea, we can use your daily publications on this subject,
to be certain to make the right decision.....
SMT will offer an opportunity for new economies to form with the largest SMT holders being the people yes..
amazing post thank you so much for sharing
new things need to be implemented soon as steemit is not the same
it will be interesting how long it can sustain
Interesting blog.
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