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RE: Steem Power Investment Returns and Up-voting Yourself vs. Other Users
Voting for yourself takes away from the discovery of quality by the network. This is why I am campaigning to have it removed from the blockchain. Consider the amount of rewards being sucked out of the system by bigger accounts that are largely just self voting. This is rewards that you can't get from being upvoted because of this.
Thanks for your reply. I largely agree with you. If all we do is self vote, we are being very short-sighted and will largely ruin Steemit. I hope it does not need to be entirely removed. I read another post by @sean-king who has declared his own voting policy. Take a look. https://steemit.com/steem/@sean-king/my-self-voting-policy
I don't see what the need for it is at all. It's a temptation that the greedy and desperate will, and as is being proved, are exploiting to the maximum, and the numbers coming in seem to be pretty clear that it's damaging the platform.
I get it. I'm going to keep thinking about it. A couple questions. If you could not up vote yourself every once in awhile, would a user bother to accumulate steem power? How would it impact Steemit if users had little motive to accumulate Steem Power (Steemit's version of long-term investment)?
I accumulate SP so that I can have more influence in allocating the rewards to under-recognised, valuable contributors, and to influence the Witness schedule, which I think, I could be about to start to really start throwing a cat amongst the pigeons.
I have raised multiple extremely valid and critical issues on the steemit github. One was about the severe security flaw in the requirement to use a sensitive Active or Owner key by witnesses to set their feeds, which makes automated price setting somewhat risky to do with a hosted server not under one's physical control. Being that
steemdis such a demanding application, both in disk data throughput and network latency, to not be able to make this data feed automated, in my view, damages the effectiveness of the SBD pegging algorithm.And in response to raising these issues at github, this is the kind of response I get: https://steemit.com/steem/@l0k1/a-little-glimpse-of-what-non-inner-circle-developers-and-witnesses-face-when-dealing-with-steemit-inc
From a top 19 witness!