RE: My Reservations About Steemit - Is This Really Too Good To Be True?
Watched your video earlier today - it was one of your most sombre videos!
You are absolutely right in being concerned. I bet the fix some of the balance issues, missing features, instability etc. in short order. Thus far they have been pretty quick and proactive about fixes the flaws. So I'm not worried about #5, #6, or #7.
What is more disturbing is the completely free market system with no regulations. Wrote about it a few day back - https://steemit.com/@liberosist/steemit-s-achilles-heel-rampant-inequality
It's always going to be like that - all of the power to the top 0.5% or so. It will never be the democratic, decentralised system we have associated Crypto with.
It's just how it is. Steemit will simply not work any other way. The only reason they can reward posts is because a few whales are injecting massive amounts of long term financing in the form of Steem Power.
I just hope it doesn't get way out of hand. There needs to be regulations and controls. We don't want a situation where the just 1 of top 10 Steem Power holders outweigh the upvotes a million others. Because as the system is now, it's heading that way.
It's still early though, remember we are still in beta. There's still time to set it all right. It'll be interesting to see where Steemit is when they hit the 1 million user mark.
You hit too many truths and marks with this comment, so I've simply upvoted it and hope that others will do the same.
Your comments continue to come from a place of reason, hope, and intelligence, so you can bet that the minute a "follow" button actually works that I'll be reading your freshly minted posts.
Cheers, and you're right about this being beta- as this puppy grows, it's surely only going to learn more and more tricks.
Thanks cypt0! I've been following your YouTube channel for a while now so it mean a lot coming from you. Often I think I'm talking to myself with few upvotes, especially when I feel my content is good.
But I have been through this before. When I was new to Reddit, it felt the same. I do hope I can continue to have the same engaging conversations I have been at Reddit. Steemit has a long way to go for that to happen.