RE: My Body is Ready for 7 Cent STEEM! And Yours Should Be, Too (And You People Better Upvote This Because I'm Being Positive for Once)
A low price for STEEM can potentially help fix the main problem of the site, which is still the bad distribution.
While that may still be a problem, getting more people buying in won’t matter much if they’re just going to end up delegating to bots because of the piss-poor incentive structure here.
Stakeholders are showing us that the incentives/protocols are not aligned with what many of them and others have expressed as their goal for this blockchain. But nobody wants to discuss or even acknowledge that. No amount of redistributing will fix this glaring issue.
If you want to see what the results of this new distribution would look like, just look at the posts on trending. You’ll see how our current redistribution has simply consolidated stake into a handful of popular bid bots that are used to “promote” an even lower quality of content than we had previously - including scammers and spammers.
If our incentives for stakeholders don’t change, then why should we expect any behavior to change?
Those of us who are against that, can buy up and flag.
It doesn’t even take that much to flag paid content into being unprofitable.
That will make it stop.
No one will buy votes if it’s unprofitable.
Trending posts using bid bots is just a result...one of many negative effects of misaligned incentives. The problem is that stakeholders understand that there’s better profitability with less time/effort by delegating to these bid bots.
What makes you believe that more buyers of STEEM will result in more downvoting as opposed to more delegating to bots that offer passive returns? And how could the very few people who are left and who care actually combat several millions of SP into those bots - at their current sizes?
Also - would it not be easier and more practical/beneficial to simply adjust the incentives? To implement these incentives at the protocol level so that everyone is on the same playing field and so that we have a functioning ecosystem and “economy?”
We pretty much all see and acknowledge that “something is broken.” Why do we keep plodding along in a “broken” system instead of trying to repair it...or worse - doubling down on the same ideas from the same people who caused the break?
The biggest problem is that those bot operators earn always more curation rewards. Especially when we return to a low price.
The ecosystem and economy are working just as intended, by the way.