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
As @onetree said, if you do not like it, you can leave. Out of 120,000, at least 110,000 have left because the power structure is a self-serving system whereby the power intensifies.
Every whale/dolphin knows this.
80% of SP is owned by less than 100 names, 90% in the hands of less than 400. This system has the value of precisely zero.
There has to be a realignment of leverage distribution - for the sake of the whales/dolphins more than anyone else.
In the meantime, I choose to stay as a supporter of a great idea.
Yes, the structure is dire and the use/abuse of the structure is cynical.
I choose to stay because, as rare as common sense appears to be, it will prevail.
And much as I repeat, a 'killer whale' is actually a whale killer, proper name: 'orca' and is a dolphin!
Your analysis is bogus, many of those accounts were Sybil attempts and name squatting.
So, the SP is more tightly held? What is my analysis? You have not seen it!
This system can not have "the value of precisely zero", since you're still here. Clearly it holds value.
Of course, it is not zero - slightly fatuous remark on my part, I admit. Current steem value is a little under $40m - the value can only be based upon expectation of value of steemit community and the possibility of alternative distribution models as has happened with Bitcoin.
A currency and a social media platform are clearly poles apart in function but here the two are virtually 100% interdependent.
A currency which is held to the tune of 90% by under 400 names with no application outside its only source and situation of influence has small value unless the situation of influence produces some externally valued produce. Steemit does not.
This is why I have been suggesting that Github produces actual online games for competition with non-steemians and yesterday I wrote a post about music and the blockchain - because the social side of steemit is pretty anti-social in its architecture it produces anti-social behaviour.
Decentralisation is the key word - both of iniquitous leverage and of ownership
A lot of the things you're seeking are under development. People are working on apps that use the blockchain for music, videos, gaming, and business. There is also @busy.org that is developing an interface that directly incorporates or can incorporate some of these things. It's going to take some time, but there are planned projects. Don't judge the entire blockchain based on what you see here on Steemit.
Yes. This should be pointed out more: Steemit.com is not the entire STEEM blockchain.
Thank you for your reply - it is, though, one of the consequences of the architecture of steemit that it is, in essence, anti-social. There is an opportunity to interact with posts, not people.
One's greatest interaction is with one's own status and rewards.
There is nowhere to seek a repository of information without trawling through and filleting endless posts.
Hence, you have had to kindly write this to me, though I am aware that it is with a bit of a sigh of resignation.
I am a great fan of the blockchain capability. I am equally a great fan of steemit - you would only have to read what i write to gather that.
I am not a fan of anything which calls itself social and has the gall to value a person hundreds of thousands of times more than another. No amount of early adoption or early movers risk can justify that after about 6 months. We all know it is iniquitous and steemit has to address that.
The snail and the tortoise suddenly come to mind!