A video answer to Jerry Banfield's Idea of Removing the flags
Since there is a considerable group of Steemians who prefer videos over text, and since the original ideas was proposed through this medium. I figured it might be fitting to state my response to Jerry's post using the same format.
Please excuse the lower quality video I'm presenting. The audio should be clear enough, and I hope the ideas I attempted to convey also find some fertile ground in anyone who would care to listen.
Let me know your thoughts too
My goal by making this video is to have a healthy debate about the subject. Its not to insult or ridicule anyone, as that is not really that productive. Bad ideas should be confronted with better ones, and this is my humble attempt on arguing against what I find to be a terrible idea.
Much love to you all
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It's funny how the things that are bad for the price of Steem always happen to be the things that are being used against Banfield at that moment.
Every time I hear that someone wants to get rid of flags I immediately react as if they want to ban @lunaticpandora. Which is obviously a terrible idea even if he hasn't done a flag post in two months.
Then I remember the whole downvote thing.
Hey! Gina brought me here! Don't ban flags! Here's the list of excuses i have for not posting flags!
<- Empty List ->
I'll continue at some point, i have just not been up to it lately :-P, I have a backlog of at least 8 half written history posts that i've just not gotten around to finishing due to me focusing more on my own programming skills rather than writing here but i will finish that and i will finish all the flags of the world, you can count on that :^)
You make many sound points that I strongly support. One issue you tangentially raised is that SP is highly concentrated, and this is centralization of the police powers of the community - a bad thing from a societal standpoint.
Worst for the policing of the platform is the fact that these few powerful accounts aren't competent to conduct policing, even though they delegate some of their power to others. SOC (SMTs, Oracles, and Communities) will enable communities to decentralize that power, and flags will then be able to function as originally intended, and necessary to create a robust and fecund society of creators.
The real problem with flagging is stake-weighting, and the concentration of stake but exacerbates the problem.
Thanks!
See, that's something I think worth discussing. Because maybe, just maybe we can separate two elements here.
One would be a one user one flag system so that hate speech and such can be effectively hidden - and something completely different could be stake weighted counter votes, to remove payouts.
Maybe that's the happy medium. We also don't want to remove incentives for people accumulating SP and powering up.
SOC is going to potentiate myriad experiments in social media blockchain communities that are practically certain to reveal what actually are optimal, rather than the present speculative circumstance.
Investing has never depended on profiteering, and comparing the price of BTC to the price of Steem illustrates that investors do not require the ability to extract rewards from a pool to achieve capital gains. The fact that Steem price hasn't eclipsed the price of BTC illustrates that the theory behind stake-weighting votes to draw investment is faulty, as it has not happened.
Indeed, what has happened is that stake-weighting Steem has prevented investment, and instead encouraged profiteering, which is a net negative. Investors are intent on capital gains, which requires increasing the price of the investment vehicle, while profiteering extracts maximal ROI and does not promote or depend on price of the underlying investment vehicle.
Steem attracts profiteers, rather than investors, for this reason. It may seem counterintuitive to prevent rewards pool mining in order to increase investment, but that's the underlying mechanism that makes actual investment possible: preventing profiteering from extracting resources necessary to the growth of the investment vehicle, in this case Steem.
We really don't care if holders of Steem are holding liquid or powered up, as long as they are holding. The rationale that created the failed incentive to hold Steem is proved to have failed in practice. No such incentive inures to BTC, or any of the other top cryptos, yet they continue to outperform Steem.
Let us bow to the market reality, and act to create investment incentives that have been proven since before the dawn of history to work, primarily capital gains. Rewards pool mining is counterproductive, and reduces investment, rather than induces it, which suppresses the price of Steem.
This is an interesting conversation no doubt. I've been doing a lot of research lately into the world of POS, specially masternodes, the philosophy behind the ideas and what not.
Have you analyzed how they work? It gives you a fresh perspective, at least it did for me.
Presently my thumb detector (hammer) is in full swing, as it is a seasonal occupation, and 'tis the season. I wrested a bit of time today to catch up on important posts and must soon return to finding out where my thumb is.
Can you relate the perspective you have gained from your research?
I intend to make a video about it, because it seems to be quite extensive.. but I will share it.
Agreed, the price of Steem is down because of the crypto winter, we will probably see a slight bump in prices when HF20 comes around but probably not as much as we would see in a general rally.
I disagree on changing the name from flag to downvotes because people may believe they are inconsequential, just like Reddit's downvotes, but flags are serious, you are supposed to use them in extreme cases, to send a message to the community, be it plagiarism, copy/paste, child pornography... Some people don't flag out of fear, because most of the worse actors that should be flagged are also backed by a lot more SP than the flagger, so maybe making flags anonymous could fix that side of things and i support the idea of getting a second vp bar just for flagging, so people don't have to debate between rewarding people and punishing bad actors.
Last thing, community consensus, its the most important thing on this platform and its the only thing that will maintain us afloat and so far, i believe the community response to Jerry's latest posts has been appropriate, he has been flagged and lost a lot of money for voting bots he paid to promote his weird things these past two weeks and he basically killed his witness career by dropping at least 15 spots on the list the last time i checked.
Pretty good video! One question though, why are you green? you didn't sound mad at all!
I like that, anonymous flags as an option sounds pretty good to me. the second vp for flagging might also be a good idea..
Green? it might just be the light, i used a terrible webcam.. eventually i'll get something decent.. maybe when the markets recover
;)
Great point. I like the example of the dogs (and the number of people killed by them every year). I think there are many purists in the platform who use flags very hastily. Some mistakes, out ignorance, should not be penalized.
For many people this platform is really challenging, the whole lobbying process that would allow you to get established and flourish. Some people are just not made for this kind of socializing/negotiating pressure.
The idea that the profitability of your postings does not depend so much on its quality but on the kinds of friends you can make is discouraging, to say the least.
In any case, i agree with you that the price of Steem depends on other factors, other than the flags.
that my friend, is a truth that does not make many people comfortable. Content is not king, at least not right now its not... Relationships are 70% of the game.
Absolutely. That's Steemit's Inconvenient truth. Fortunately, there are people, like yourself, who every day show some genuine generosity in both sharing key information that help newcomers grow and giving support. There is hope i guess, that things can be improved or that at least you have options as to how to grow. Of course, one path will be slow and long, the less traveled by road, sort of.
Hello @meno, yes, defintely many steemians are worried about the downtrend of steem price although all the cryptospace is on the same note. I agree the flagging to new members is not generalized.
Greetings from Mexico,
@Layra
Un saludo cordial Layra...
¡Igualmente @meno!
I can't watch the video, but I hope I gets better some Hispanic communies uses flag against people who just have different thoughts.
that makes no sense, but its not the code.. its the attitude of the people... es falta de educación.
I self-flagged this post. Wait. Oh.
Hehe...
Twas a great idea to make a video. Easy for me to listen and follow your thought-stream whilst in my busy haste. Thanks for that.
I’m with you on everything you tabled in the vid.
I also loved the guitars in the background.
Sorry. Off topic.
By the way, the saying is “don’t throw out the baby with the bath-water.”
yes, i must remember that saying!!
I'm glad you found it useful brother
UPVOTE! https://steemit.com/news/@bible.com/6h36cq
Great bit of article. Slipping out of the topic though but would love to hear those guitar some day :D