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RE: 25 Reasons Steem Will Replace Bitcoin as #1 Cryptocurrency by 2021!
In that video you cited, he is correctly informing users that if they don’t do it, they are falling behind others who do it. IOW, he is explaining that the rewards system of Steem is a Prisoner’s dilemma (and it can’t be fixed no matter how it is changed!).
However, I don’t think that 2% compounded is realistic for anyone with significant size. That would be 400+% increase in STEEM POWER per annum! Would be flagged by other whales who wouldn’t want you encroaching on their rewards turf.
I have written a point-by-point rebuttal of @jerrybanfield’s incorrect propaganda campaign.
I suppose the purpose of me posting this was to bring attention to the contradiction that one who is willing to r*pe the reward pool by $1.6k via bidbots(when he could have easily promoted it, or declined payout.), couldn't possibly think that this behavior would allow for a long term net positive for steem. That mixed with his history (This video as one example.) of promoting people to "game the system" would leave one to logically assume that he is "gaming us." I thought that maybe I could save someone from wasting their voting power, on what appears to be a shady used car dealer.
Who knows I might even earn my first flag out of this one.
I don't know if the cancer that is eating away at our system is able to be cured, but I still have a bit of hope.
Don’t lose idealistic hope. Others (such as myself) are working on solutions.
One of the reasons (in addition to vested bias I have) of writing about the flaws, is so that hopefully users will not be totally devastated and turn away from the concept. I want people to know that others are aware of the issues and working on solutions.
The project I’m working on won’t be named STEEM though, i.e. we’re not going to fix Steem but rather attempt to supersede it.
Well, keep me in the loop, let me know when you have a name. I'm very interested in this idea, it does seem to be the way of the future. I only have a couple hundred hours invested in steem, so I'm open to the idea of different platforms. Who knows they might be able to patch up this old experiment of a ship.