How Are You Preparing For HF21?
About a month after joining the Steemit platform last year HF20 was implemented, I must say I was confused by the events that happened before and after the HF20 because I didn’t really know much about Steem then and was in a high learning curve to understand what was happening, actually, I am still learning. Lol.
I saw a lot of anger in some post I was reading, some said they were leaving Steem for other platform. One guy even invited me to join weku while another mentioned whaleshare to me. For me back then, I was still trying to get a hang on what Steem was all about, joining two more platforms would be making life more complicated so I just stuck with Steem.
I remember a day after the HF20 happened activities dropped a lot, loads of complained continued to flow in, I think that was a bug problem and it was resolved. After sometime, activities started picking up again. I remember SMT release date was shifted, later on we heard it would happen first quarter 2019, but, that is another story for another day.
I remember doing all I could to get to 1000 SP before SMT is implemented. Not that it meant much to me but when I joined the platform the price of Steem was in the $0.80 to $1 range and I felt 1000 Steem would be worth between $800 to $1,000 which I assumed will grow with time as I continued investing and remaining active on the platform.
My assumption were wrong in a way, the price of Steem started dropping, the management didn’t help matters because of the so much negative news that were been release as if they were meant to force the price of Steem down even further. The price continued to nose dive until it got to the 20 cents area.
So, for me HF20 saw huge price drop, a lot of people left, though some later came back when they saw some positive changes i.e. the Steem-Engine effects like more UI’s, token implementations and others. HF20 also saw the same management that told us it would solve loads of stuff, turning round and bombarding us with loads of bad news that was enough to wreck the whole system if not for the resiliency of most of the members and some of the management staff and their determination to make things work. Steem-Engine, Games, more UI’s and other new implementation by the new management team is bringing things back together again. Price of Steem is not perfect yet but it is holding its’ own around the 40 cents area.
HF21 is coming with all the arguments for and against it. I am pretty sure a lot of the experts have already made plans how they’ll weather the storm. But there are a lot of us that are not experts on hard forks’, especially new members that are still finding their feet in this already complicated platform and have not gone through a HF on Steem yet.
What are we to do? Should we panic and run like the Zebras in the cartoon film “The Lion Guard” or should we be brave like The Lion Guard team members?
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What do you think members should do before and after HF21.
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Hi @ketcom
I have never been ready for the changes, however I have read the comments and the answers that @crypto.piotr says and I think that he is right in the short term is a benefit however that happens when the whales want to change or get rid of their currencies. what will happen with the steem and the sbd will they go to the ground or what?
Greetings friend
My dear @lanzjoseg, thanks a lot for your comment. I am trying really hard to accept that there are benefits of HF21 but when i consider the fact that a lot of things are based on assumptions then it weakens my argument for it. I however believe Steem will continue no matter the challenges we may be facing.
Dear @ketcom, from what I have read, many expect this HF21 with more doubts than certainties, as the forecasts are discouraging. I am one of those who think it is necessary to wait and see what it brings or rather to see if what has been announced brings benefits or will cause many to leave in terror.
I advise waiting and see what positive or negative consequences this adjustment will bring.
Thanks @fucho80 for your comment.
You're using the wait and see approach, that is fine. Let's wait and see.
Ok lots of good comments here thank’s everyone.
Downvoting ... I have been personally attacked by downvoting, and now they propose to give away “free” downvote’s.
This gives away free ammunition so that accounts that are just downvoting everyone can pick up speed and destroy.
How is this improving the blockchain?
If they want to set up downvoting it need to “cost “ the down-voter.
Post’s can be subjective, what I think is good content, someone else may not.
This is just like giving drugs to an addict and saying use these wisely.
If I believe in Steem and I do, it cost me USD to trade......
If you believe a post needs to be downvoted, then pay the mana/voting cost and by all means use it and downvote.
Maybe with Hard Forks there needs to less “packages of improvements “.
Too many changes too quick will just send Steem in a tailspin.
That being said again....I believe in Steem and now PAL....
Maybe PAL will midi gate some of the fallout.🤔
Tell me about the down votes. Lol. The first time I got hit by one I just didn't know what I did to the person, I checked he had a very low reputation below 25 and all he seems to enjoy doing is down voting members post. Lol.
I've had a couple after that and the funny thing is non of the down votes has come someone reasonable, it has always been users below the 25 reputation and even negative reputation sometimes. They don't create contents and if they do it was very long ago.
Why I've never been bothered about them is because their 100% down vote has no effect on me.
I honestly do not know how HF21 improves down voting.
Steem as i've learnt in my time here is a place where you keep learning and you never stop learning.
Thanks for your contribution
Lol I think we were probably down voted by the same person, I won't name... but his reputation was about 25 or less and his voting power was almost zero...
Mehn! I felt real pity for those guys. I was going through their profile and it's like something pissed them off and they just kept hitting at everyone on their path. I noticed if you communicated with them it triggered more joy in them and they hit you the more. I just chose to ignore them.
I think that’s the best way to deal with him just ignore him....
Dear @silvertop
I very much agree with all your points. Especially part related to downvotes. I also don't know how would it improve anything.
Thx for sharing your thoughts with us.
Yours
Piotr
I just read that Palnet has a “time out “ built into the code. I honestly can’t remember where I read this.
The gist of what they were saying is on palnet if there is an abusive account downvoting ,they could call a time out to stop the abuse.
I need to re-read the white paper and try to understand.
If true, maybe this would slow or stop abusive downvoting. Palnet needs to grow, but they might be on the right track.
I would hold tight. There may be some change in price depending on how people like the change. Yes, some people think it is a good thing others see it as not effective. I see it as a step in the right direction because it is an attempt to address a problem. I think that the price of Steem will react based on opinion as to the actual results.
If the price of Steem increase that is great, if it decreases it is a buying opportunity. I bought most of my steem in .20'ish to .30'ish.
I think that is a great idea, especially when you consider all the wonderful Dapps', games, UIs' and other wonderful stuff built on the blockchain. When people panic and sell off should be a great opportunity to buy more. Thanks a lot @emergehealthier for your comment, it is well appreciated.
Dear @emergehealthier
question that we should ask is: what problem is being addressed here? It seem that all focus is related to price of STEEM and ensuring that short-term demand will grow and short-term selling pressure will be put on hold. To benefit "whales / investors".
Proposed system can only work if so called Whales would actually start delegating their Steem Power to quality curators. That would indeed allow those curators to be rewarded for their work and benefit entire platoform.
I'm simply afraid, that this will not happen. That at the end most whales will continue auto-upvoting publications of very few people, with their powerful votes and without putting any effort they will start earning x2 more than they did so far.
It surely would encourage them to slow down with powering down, which in effect would most likely bring up the price of STEEM. But that is the only positive outcome. And what would happen year from now, when those "whales" would start dumping this easily earned STEEM?
I wonder if you would agree with me on this one.
Yours
Piotr
Thank you @crypto.piotr for sharing your thoughts. I didn't mean for my response to be mean I was solely concerned about the price of steem. It was just an observation that fear may motivate people to sell out just before or after the hardfork.
I see the changes as motiving people to change how they interact on the platform. WIll people respond to the new incentives to change their behavior? I don't know.
Will content creators see a drop in their post payouts. Yes, because the change is intended to motive curation. While some may be disappointed by this, others will be okay. I receive many small votes on my posts but don't have a lot of people who actually read them. I hoping it provides me with the opportunity to engage more with others on the platform.
I also think that it will help grow communities on the platform. I have enjoyed being a member of the @upvoterbuilder community and have met many interesting people whose posts I enjoy reading and interacting with.
I'm committed to staying with the platform. I see the possibility for the future. I remind myself that it was a new type of social media interaction and that it has grown to include Dapps, new interfaces, and games. Yes, there will people that are only looking out for their self-interests and may not change but there are many wonderful people I never would have known if not for Steem.
In the event that in a year or so the whales start selling steem and it reduces the price, I will be adding to my account. I intend to grow my account and use my influence to better the platform. During the crypto bear market I was able to boost my account from minnow to dolphin. I continue to delegate and reinvest my earnings into the platform, Dapps, tokens, and services that I like and use.
I understand your concerns about whales and their effects on the Steem ecosystem, the problem lies in the fact that Steem is decenteralized and there really nothing that can be done other than offer motivation for them to change their behavior.
Dear @emergehealthier
Please do not be concerned. Your previously response definetly wasn't mean :)
Appreciate your comment and your time. Have a great sunday.
Yours
Piotr
Thank you, enjoy your Sunday also.
Thanks a lot @crypto.piotr, I appreciate your contribution and support a lot.
My fear as I have always expressed is that a lot is based on assumptions that people will act in a certain manner but we know that some people are so unpredictable.
About the 50/50 curation thingy, I see very good content creators earning less than a dollar, as a member of @upvotebuilders i follow a lot of members and read their post on actifit, literal works and a whole bunch of stuff. They get their upvotes mainly from the various communities they belong to, their network of followers are like most of them and are only able to upvote them in the $0.00 to $0.05 range. It has been rear to receive upvote from whales as their focus is most times the big guns like themselves.
How this change will make whales start voting smaller accounts of good content creators is what I still do not know. And that is where the fear of content creators earning less comes to play. Because for me as a content creator if it is the same people that'll still keep voting me after HF21, then definitely i'll be earning less. What will turn the big whales to my post to give me those double digits I see is what I am still trying to figure out. Lol.
As regards the stop to power down of big whales so that they can actually earn more via curation is also an assuming thing, because there is no stopping them from continuing to reap more profit from Steem price gain if there is going to be such.
Price of Steem is another thing, will HF21 really cause the price of Steem to pick up or drop even further? I don't really know.
I know I am in Steem for the long term because of the so many good works that is built on it, the Dapps, Games, various UI and of course a lot of developers that keep coming up with great and exciting new stuff. The freedom to post and interact with people has been great, making friend and hearing from people all over the world in an instance is something you can't beat. So, I ain't going no where.
I wish a lot of whales are like you though, engaging and encouraging smaller accounts, that alone is a great boost and motivation to do more. And that was what I got when I started and in my little way I try to do the same even with a tiny account with so much leased SP. Lol.
Good content creator need encouragement and how HF21 solves that problem with the 50/50 curation is something I am still banging my head to understand. Thanks.
Dear @ketcom
Not a big deal buddy :) I like you already, I found your content interesting and I respect the fact that you're engaging with people. I like to support valuable users on Steemit and you're surely hell one of them :)
Solid question buddy. Hard to tell. I'm not very positive about it.
This assumption comes from the fact, that current change will create window of opportunity for those who would like to abuse this system for their own benefits. And this assumption is based on my strong believe in humans "greed".
In my opinion most serious stakeholders will slow down with powering down to see how much more will they be earning after HF21. I may be obviously wrong, but I still think that some part of "whales" will share similar mindset.
I'm pleased to hear those kind words :)
ps.
What is main goal of @upvotebuilders ? Would you mind telling me about "business model" of this project?
Yours
Piotr
Are you on discord @crypto.piotr? My response is getting bigger than I had anticipated.
First of all, I am curious about how the hell you managed to grow your account that fast? You joined 21 days after I joined xD
Secondly I am not changing anything before the HF21, I think I have a pretty balanced system with auto upvotes and manually upvotes aswell and when the curation goes to 50% it will just help me more.
I dont really post anything interesting at all at the moment. That will properly change extra year tho, so I do nothing :D
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To answer your first question, when I came to platform I met a lot of wonderful people like you and that helped me get along.:)
On your action before and after I think it's great, you might be encouraged to do more content after the HF21 who knows. Thanks a lot for your comment.
Ohh well thanks!
Thanks quite nice, I was kinda just figuring it out for the most part and I have tired a lot of different strats to grow.
True that, I will not stop to post or post less that once day. But I might post more when I start studying life coaching :D
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Hello @ketcom!
I'm still relying on Steemit. I know this fork will work more for whales than us. And probably I will be a disaster while they implement it.
I've been working at Steemit for a year and a half. Literally, because I live with what I earn from every post I make. The STEEM (and the cryptocurrencies) has been a blessing for our country. I think I had the opportunity to boost my post with minnowbooster a few times, but not anymore.
Thanks to my friend @cripto.piotr, I have risen in reputation and the effort of my work, as I can not invest in power directly. So I think I've taken a lot of love to Steemit. If It were to stop working, It would create a void in my life.
The future of crypto and blockchain looks very interesting
Thanks for sharing
Thanks a lot @jadams2k18, I wish all whales were like @cryptto.piotr in the sense that they will be voting good content, but wishing it so is not a guaranty that it becomes a reality.
I am not judging but I also think a lot of whales invested in Steem as a business and in that sense the only thing on their mind will be how to recover their investment and make a profit.
I don't think Steem is going anywhere, i think it'll remain because the some many network of developments that have been built on it.
Fears will definitely set in but with time as always things will settle. Cheers.
So kind of you to say that @ketcom
I have not going through reading the changes it will bring. I'm hopeful. At the same time I'm shaking in my boots, remembering what they have done before!
Hang in there my brother, you are a winner. Thanks for taking time off your holiday to respond, I appreciate it.
I'm just back from my holiday :)
Hi @frankvvv
Great to see that you're still around. Didn't hear from you in a while :)
Cheers
Piotr
Aaha, yes, I'm still around!
I'm definitely following up, because even after reading dozens of posts, I still don't really get all of it - let alone I can prepare for it.
Just hang in there my dear, it will be over even before it starts. Thanks for your comment.
I wonder what is your opinion @simplymike on 50/50 reward system?
Surely it would benefit all current whales/stakeholders. Does it benefit anyone but them? share your opinion if you don't mind.
Yours
Piotr
I don't have enough insight to have an opinion on this, actually.
If I understand correctly, it will mean the smaller accounts will earn next to nothing on their posts, and only little from curation.
I'm still too confused about all this to form an opinion. There are way too many opinions out there already, making it even more complicated....
I agree with most of the people saying hold tight. I'm pretty new here, and most of my rewards come as an author, but the new hardfork might encourage a lot more voting and curation... so it could be a win win.
Dear @mastersa
I've been trying to understand how can this encourage more voting and curation? The only difference is that all "whales" voting each others content will be rewarded and growing twice as much.
Do you think they will start curating more simply because they are earning more?
Proposed system can only work if so called Whales would actually start delegating their Steem Power to quality curators. That would indeed allow those curators to be rewarded for their work and benefit entire platoform.
I'm simply afraid, that this will not happen. That at the end most whales will continue auto-upvoting publications of very few people, with their powerful votes and without putting any effort they will start earning x2 more than they did so far.
It surely would encourage them to slow down with powering down, which in effect would most likely bring up the price of STEEM. But that is the only positive outcome. And what would happen year from now, when those "whales" would start dumping this easily earned STEEM?
I wonder if you would agree with me on this one.
Yours
Piotr
Yea I definitely agree that whales benefit - that’s one of the wins. (To be honest, I don’t really play with whales yet and I don’t know how that game works).
But my thinking is that if curation rewards are higher, it should give an incentive to manually upvote quality content.
If everything remains automated then it won’t really have the desired effect... but i also make 0 curation rewards right now, so this will definitely help me.
I’ve also seen some speculation that the 50/50 will reshape how people use voting bots. So you can likely no longer buy your way to trending at a profit (this will probably also help small fish like me).
So while whales get a bigger piece of the pie, there’s lots of opportunity for minnows to get some as well.
@ketcom @crypto.piotr
Dear @mastersa
Thank you for that amazing comment. Appreciate it.
That would be lovely. And in some cases it surely will happen. However opportunities to abuse this system and simply enjoy 2x faster growing rewards and having only auto-upvotes set up is most realistic scenario.
Not to mention that bots will have a chance to offer x2 higher ROI for delegating SP to them.
Yours
Piotr
That is what we want, a win win situation. Thanks.