As I write this Steem is worth $0.16 and falling and sitting at 80th place ..... 80th PLACE!!!
I will not write out a long post on this topic because I have no incentive to do so. Steem could still be a top 5 cryto currency ..... SOON .... but we are not headed that way atm.
Here are 3 things:
HF21 will be a complete disaster for the price of Steem. Curation rewards are like a tax on the producers / investors. 25% is a hard sell when no other crypto tax there users AT ALL. Think about that for a minute. Now that Steem will be going to 50% tax its more like socialism and we all know how well that works ......
DOWNVOTES are the WORST part of the Steem experience. People get excited about Steem, invest in Steem through hard work and money and then when they get any size at all Steem Cleaners comes by and down votes them for being successful and earning to much from the reward pool. This makes it very hard for any serious investor / small business person to drop a few million into Steems eco-system.... and now with HF21 down voting will be encouraged and free with its own pool!!!
While these are both VERY BIG ISSUES they are not even the LARGEST ISSUE holding steem back. If a concerned whale or group of whales whats to pony up a few hundred hundred thousand Steem tokens I will gladly give, what I think, is the number one key to unlocking Steems future value and vault us back into the Billions Of Market Cap.
On a separate note, Steem Monsters ... now Splinterlands .... is still on fire and its not to late to get on the train. I moved some of my Steem stake into SM and boy am I glad I did!!!
Best Regards,
Dreamryder007
P.S. For those who wonder why I don't just buy a large stake in Steem and walk the talk. I fully plan to once Steem is in the 0.02 - 0.03 or under range. The offer, as it stands, is for the whales who I would be making hundreds of million dollars for. Imagine if @ned had contacted me when Stinc had 124 million tokens and I helped Stinc run the price north of $5 ...... Stinc should have at least followed up on my very generous offer ... but hey its there money, they can throw it away if they want to.
Best Regards,
Dreamryder007
I think it's the oposite at least for 5050. Curators are people that own steem. Right now they're getting screwed. They're the hodlers. They are the people that suppor the price. We're telling them that their contribution is only worth 25% of the value. So, all the new steem isn't going to the current set of hodlers it's going to authors who make content which has questionable value at this this to the growth of steem.
The economics are getting a boost for people that hodl. Now there's literally twice the benefit to holding steem and using it to vote. Is that enough to make a difference? We'll see.
As for flagging I think it'll initially be a bad experience, but it'll settle down fairly quickly except maybe a few key whale wars. Everyone not in the whale war should be thrilled. Because as they cancel out votes everyone else's post value should go up.
I'm hoping that the flagging thing will be used less for every day content, and more for the posts that are trash, add no value, milk rewards, and leech steem. We'll see. But if that's the case then the loss in author rewards because of the hardfork can easily be regained by flagging abusers with free flags.
2 part question:
a. Do you have command over any high stake accounts (that are either individually or collectively a whale stake) that are capable of contending with this level of abuse?
b. If so, should we have confidence that you will do so?
Thanks
@aggroed, I agree on the 50/50 split is a good thing for the holders. I think you underestimate the negative impact the psychology of a downvote. While you are technically right on the effect on the "pools", what you are missing is the negative user experience that keeps our userbase in decline. Its been a long time since you've sweated downvotes, but I can tell you it doesn't take much for a whale to keep the minions' voices silent. That is what is so distasteful, the fact that our voices are made invisible when a bully doesn't like it. As you know from your peace ideology, many don't like to be involved in war (or slavery either).
aggroed you are missing the forest for a few bushes my friend. It's ok, you have some well meaning but delusional company and that is why the price will keep dropping like a stone.
GO Steem Monsters !
cough I mean Splinterlands
You realize that you changed the name of your SUCCESSFUL game from Steem Monsters to Splinterlands b/c Steem is a toxic as f*ck brand atm right??? A large part of this toxic environment can be traced back to poor flagging. I don't think adding more flagging will help make Steem a better place.
I am a big fan of STEEMMonsters, and a big fan of aggroed, and I respect his oppinions very highly.
Though I kind of see what your point is.
A very good example of steem being fked up is that I would like to write alot more into this comment, but I am afraid that I will get a shower of downvotes and make some enemies by expressing my oppinion.
(Hope I didn't go too far, if you don't like my comment then you think about it as a joke and ignore it)
I don't think adding more poor flagging will help make Steem a better place.
FTFY
Don't think we should throw the baby out with the bathwater. That's what we do when we lump unrighteous flagging with reasonable moderation.
I agree with you on the downvote issue. It is the single largest issue I've seen that people HATE about steemit.
I agree that the most urgent problems on Steemit.com are not proper addressed by this Hard Fork.
In general, I'm more in favor of removing the whole POB mechanism from Steemit.com in order to "mine" Steem.
What is the sense anyways behind the concept when we will have SMT and communities. Why should only Steemit.com be allowed to give out Steem as a reward?
Steemit should become its own SMT project and let all other SMT also participate in the overall distribution of Steem. In this context Steemit.com and all other dapps would be on the same level competing for the Steem reward pool. More competition means better products and development for the whole Steem ecosystem and would also boost Steem buying and holding for investors.
Right now, Steemmonsters suffers from the underlying "Steem currency" and its high inflation rate that only rewards Steemit.com users.
In my mind, the Steem Reward pool should be handed out to the Dapps and Communities with the largest "SteemPower Stake". This flow of Steem reward can than be used to empower all the members within the Dapp or Community. The more users and members delegate their SteemPower to the Dapps/Community main account the more reward the whole community will get from the Steem Reward Pool.
In the end I just hope that we get a more inclusive Steem Economy that empowers competition, holding Steempower and therefore boosting development and user experience.
Pretty certain that we're at the consequence of a 2 year long bear market in alt coins and that the challenges are way larger than just steem itself. Even still there are a large variety of dedicated people that stick around and build waiting for the bulls to come back.
Flagging has a negative experience, but you're expecting 90% of the flags to be bullshit opinion flags on good writers. I'm expecting 10% to be that, and 90% on shitty posts milking bid bot rewards. It'll screw bid bot owners who don't maange their content at all. it'll screw the posters using bidbots if they are upvoting shit content.
That's going to leave a lot of a rewards pool. Some of the other witnesses think that it's like 90% bullshit content on steem. Well, if it is that's a more than enough content to downvote to ensure quality authors get a nice payment boost.
I've had hundreds of dollars of downvotes through my career. Maybe even a $1000 by this point (thanks Bernie! Options are to freak the fuck out or just get over it. usually it's 1 and then 2.
Snowflakes need some tougher skin if a couple flags are enough to deter them.
I mostly think the value of steem is determined by those willing to hodl rather than those willing to shitpost. The readjustment is a good thing.
What I think you're really missing in your analysis is a burn case or ideally many for steem. that will help price even in a shitty bear market.
The alt coin bear market is taking its toll I'm sure; but I think your view of the down vote usage is much to optimistic. I really don't see a scenario where a majority of flagging is done in good faith and used for those milking bid bot rewards or shitposting. Even with a separate down vote pool, it will be still be whales silencing minnows. The power is in the hands of the STEEM holders and the STEEM holders (bid bot owners, whales, etc.,) will not complacently surrender their rewards. It is human nature to be greedy; any system which only works as intended by foregoing human nature is bound to fail.
A burn case would no doubt help but that us like fishing for minions when I think we should be fishing for 1000 pound blue marlins.
BTW anyone who has read this far and is not playing Steem Monsters you are really missing out.
Congratulations @dreamryder007!
You raised your level and are now a Minnow!