Adjusting to Market Conditions and DPOS.
A DPOS Blockchain is managed by it's stakeholders:
In an Inflation funded economy, those stakeholders should be rewarding the efforts they think will bring Steem the most success.
Here is a list of our largest stakeholders
This is the list of people who will make the up and coming decisions on where Steem should head. They are also logically the people who should put the most energy into making Steem successful.
1 steemit 32,926,893
2 misterdelegation 19,003,156
3 steem 11,422,735
4 freedom 9,277,403
5 blocktrades 4,812,372
6 mottler 2,315,274
7 databass 1,755,136
8 jamesc 1,610,268
9 michael-b 1,546,620
10 ben 1,510,168
11 ranchorelaxo 1,368,171
12 xeldal 1,147,017
13 thejohalfiles 1,007,877
14 roadscape 982,939
15 riverhead 905,602
16 trafalgar 862,790
17 val-b 826,048
18 tombstone 807,742
19 arhag 804,972
20 adm 782,779
21 safari 752,206
22 sigizzang 712,779
23 adsactly 682,945
24 virus707 659,899
25 fyrstikken 655,787
26 created 625,556
27 batel 606,568
28 mariusfebruary 595,037
29 wackou 564,452
30 glitterfart 557,410
31 steemed 539,638
32 drbanner 503,330
33 amityconcord 502,681
34 jaewoocho 501,466
35 pharesim 494,697
36 yoo1900 491,946
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In a DPOS system that is currently being funded by inflation, it is important that they make great decisions about where to send that inflation to ensure growth of the platform.
As Market Conditions change we all have to consider adjustments in our plans.
Steem Stakeholders are focused on these issues also.
Many have been talking about some big up and coming decisions on Author/Curation rewards and the Steem Proposal System
In order to be ready for our changes here are some updates to my Steem Account.
I have removed ALL of my witness votes so I can vote for those I feel are making great choices for the future.
I have resigned from the Steem Alliance as the first important steps towards legal were finished and it is going to launch unfunded. It was never my intention to create plans and Ask SteemIt, Inc. for funding. I thought the foundation was an attempt to get resources in the hand of the community so we could escape the bottleneck of SteemIt, Inc's bandwidth challenges. It was a great experience to work with the team and see the dedication they hold to Steem. I'm really glad that I decided to work on the project, and am confident the legal structure is well on it's way to being formed.
Many have asked if I am quitting Steem and the answer is no. This is not a job, it is one crypto that I can choose to put time and energy into or not. It does not require quitting, I have no boss to notify and no commitment to end.
I am adjusting the amount and type of energy that I choose to put into it based on what I hope are realistic expectations on what I may get out of it and what is likely to be rewarded. Steem is not a charity and does not require a gift of my time nor my commitment to the project.
I will continue to monitor stakeholder decisions and my own options and choose accordingly. That is the beauty of being a financially independent adult.
If the four largest accounts belong to Steemit Inc, then Steemit Inc controls 64.9% of stake - and I don't think that's all of what they own. Steemit Inc still has total control of the chain, even if they choose not to actively exercise it.
What I don't get is people complaining about Steemit Inc auto-selling their stake. It's a fantastic thing. In a few years, their stake may fall below 50%. ;)
They are complaining because that money hasn't been spent doing much of anything for steem or steemit.com for that matter. It has gone into the pockets of Inc who has done almost nothing with it.
Not only that but they haven't been "strategic" with the selling at all. Selling large amounts when there is liquidity and demand makes a lot more sense then selling the same amount when there is no demand, like now. That makes no sense.
Imagine had they sold large chunks on that run up to $9 instead of selling the same amount they are right now?
They would be well funded and we would remove the largest drag on the steem price currently.
I was being sarcastic.
Ah ok, that makes sense then. I had missed that.
I agree with you on that... Sell babies sell that so hard!
To be honest, I thought Steemit Inc's stake would've been smaller by now. Like Chinese communists would say, we're in for a long march before stake distribution can be said to support a truly decentralized chain.
/sarc
Managing witnesses is important. I reserve half for my favorite initiatives / engagers and the other half for what is best for steem. I am always open for suggestions too and i remove those i cant remember why i voted for.
Posted using Partiko Android
It's good to hear you manage your witness votes.
@whatsup,
Hope you could join this list too! STEEMIT INC holds huge part of the stake and hope this might lead to centralization in other way!
Cheers~
We see so many changes. Steem is way different as the blogging platform we used to browse two years ago. Guess Steemit.inc takes bad calls in the past... Today new ussers have no RC at all. I know it at first hand, draining all my SP 7 months ago, starting from zero. Its almost impossible.
@Share2steem did and amazing job, also @Partiko, awesome app, exelent point and referall system. Both excelent tools ready to bring lots of ussers on the steem ecosystem.
@nathanmars also is getting great activity on twitter talking about steem.
But i see how the most strategic areas such as marketing, SEO and social media campaigns totally empty.
The other day i see a twitt on Steemit Twitter account talking about Venezuela, linked to a Steem article. In the mentioned twitt, they talk about the need of descentralized news, then, when you enter to the post you just see the same point of view as CNN.
Weird disidence.
Sadly the strongest on Steem are turning into a corporative mode (we are now uploading pictures on microsoft's Mira? I read somewhere. How that happen? )
You CANT use @minnowbooster if writing about politics, we are talking about one of the greatest voting market system on the entire network. We can only promote puppy's pictures and motivational crapp.
Also steem at my view have many other problems im not speaking at, because im a little worm and i can get easily stomped. But we need some sort of protocol for downvoting and flagging system. Its weird the fact that having an VOTING based system, we have no voice at all on how the system evolves.
Edit: Sorry for the long comment. Happens a lot (?
I feel the same way in many ways but consider it still a great opportunity to accumulate now which is why I continue to actively posts and engage. However, I have started considering a slight slowdown to gather my thoughts and consider the opportunity costs of the time spent here.
Posted using Partiko iOS
Ahhh - more cleaning up. I might just follow you on your witness unvoting action. Come back in a few weeks and see who is doing right. I've always found it hard to unvote 'one' witness if I wanted to vote in another, but starting with a clean slate and just picking only the ones that are clearly doing the right thing might just be a whole lot easier.
Thanks for being you and sharing your thoughts. You're right this is not a charity project and you don't own us/the project anything.
I thought if I cleared the slate and only revote once I feel compelled that someone is making good decisions.
WTF!!! Whatsup... :)
I am afraid, you give them to much credits...
They are leeches...
I'm going to do the same as you as an example.
Posted using Partiko Android
Hi - what tools do you use to get the above data?
I used to use SteemDB but notice that data hasn't been updated in 6 months, still interesting to make the comparison between this and what's over there!
https://steemfriends.org/
I used "OWN SP" as a filter.
Great thanks, I actually know the tool very well, but sometimes one just needs reminding of what functionality what tool offers!
{you removed your votes} does it take time for them to power down is that why you removed them? also will it make a difference if you have more then one account? Thought i saw my name up their for a minute - thought everyone musta sold out whilst i was sleeping lol
No removing the votes is instant when it comes to witnesses.
We've learned the hard way we need our top 20 to be focused on whether or not proposed changes are good, but also more importantly if they are properly tested and rolled out.