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RE: Whales Having Power is Good: Power is an Incentive to Buy and Hold on to STEEM Power + What Incentives Would YOU Like to See - An Open Discussion
Well. . .
A month or so ago they fixed the economy so that the price of steem would go up. It hasn't.
At the same time, they caused my curation income to go from 300 steem power per day, to 18 per day (six dollars).
I powered down - it's not worth holding fifteen thousand dollars on steemit and sifting through posts all day, non-stop anymore.
Powering down 100% of my steem power and selling out is what I am doing.
I think you mean the inflation. Curation didn't change much.
What would make you keep your SP powered up? What would you like to be able to do with it? Any suggestions?
I think we already have enough incentive to hold Steem Power. Some people are more aware of the incentives than others
Really? Then why don't you list those reasons for everyone? There is 0 incentive to hold SP at this point. The rewards for doing so are minimal.
Interest is still an incentive but now a very small one and curation is an incentive but only if you're willing to power up a lot to compete with the bot voting which is impossible for anybody with a job/life to compete with without becoming a bot yourself. And then user engagement drops.
Other incentive is to determine where the author rewards go. All of these require a huge power up to be serious. There is no incentive to power up as much as you can afford (which is a lot less for most people). That's why I'm powering down. It's just money sitting there. I can hold steem speculatively but I won't be powering it up until I feel like it could make a difference.
Not inflation. They used to pay a heavy interest per day. Either way, I was paying all my rent and bills with what I gained in SP during November, and now I don't even cover my internet access.
And the Steem price has not gotten better.
That was from the inflation. And I don't believe anybody said the price would rise when the economics were changed. The idea was to cut back the inflation because it wasn't really necessary. The price isn't going to rise until there is a lot more interest in the blockchain, the platforms using it, and the currency needed for transacting with them.
This is not a get-rich-quick scheme.