Redistribution is happening
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The argument for a middle class
I've talked about this so many times on this very blog, some people might be sick of me by now. At the risk of boring my readers again, I'll just mention it one more time, but this time posing a question.
What's better for the ecosystem, a few mega whales or a huge pod of dolphins?
The answer should be obvious, if we have a strong middle class, that should in theory give us better governance, better curation efforts, a steadier currency, etc. Why? Simply because there would be a more balanced consensus of things.
Think about the possibility of having a middle class that can influence witness votes heavily, that has enough resources to fund an initiative, or start a project from scratch, you get the idea. As we have it today, we have a small amount of accounts holding most of the SP and one particular account pretty much deciding who gets to be a top witness. That can't be too awesome, to put it lightly.
The true believers, stepping up
I've been seeing quite a few minnows becoming dolphins these days, and some dolphins even doubling in size. The black friday discount seems to tempting, and even though the prices may indicate in some ways the immaturity of the markets, they say nothing about the goal we've all set in our minds.
Just today, I saw the lovely @soyrosa join the Dolphin ranks and seeing that post, her attitude towards this whole thing, not only made me smile, but it also reassured me that everything is going to work out in the end. There is no loss of excitement, no faltering of mission, none of that, just someone who like me sees these times as an opportunity.
If you are powering up right now!
First off, thank you for believing, for being part of the team. I know that even though things seem dire at the moment we will be grateful to our past selves in just a few months. Maybe it won't be because we 10x in USD value, but because we added value to this blockchain in a thousand different ways with the influence we are grasping at the moment.
Much love
I have powered up from 1,000 to 10,000 SP in these dumps but I don't recommend anyone to follow. It is a dangerous game because unless you have a $1,000,000 to power up a person wouldn't be able to make a big enough move to influence witness votes and all that.
The witness situation is a clear joke and there is no point for qualified people to attempt to run them on this chain. We need vote decay and a rotational mechanism that would drop witnesses who have been in the top 20 for 6 months straight to being placed below 40 for six months before they can move back up.
This won't happen. There are about 50 people making good money on this chain and everyone else is chasing a carrot.
I'm chasing the carrot one more time and trying to get my average low enough and hope that STEEM doesn't keep slipping down CoinMarketCap like it has since July 2016 when I showed up here.
En eso estamos! New Minnow 2018!
Appreciate your post, and the mention! Yes, I'm here with you, believing in, growing with, Steem and the community. Having a strong and supportive middle class is what we have to strive for - especially with the dApps/SMT's that will be coming there will be a redistribution of 'leaders' and those spreading the wealth. Within these communities some will be on the top of the ladder, even though they might be 'just' a Dolphin on Steem as a whole. I'm looking forward to those times... We'll see the random whale swing by, but the Dolphins will be the ones shaping and growing the Plankton and Minnows.
Cheers!
So that's what's been happening to me since i got here. I'm being shaped. Lovely. Grown? Not much. So that might indicate my resistance to the "shaping". Not a great financial move for me or anyone else here. Oops ; )
If you watch any of the videos of Steemfest, you might change your mind about that @rossfletcher. There are awesome things going on on the Steem blockchain and this will only grow. And we will grow.
It's great that Steemit is growing! I love that there are so many creative,smart, and funny and talented people here. So many people put in so much time and effort making this happen. I'm not sure how to explain what i meant by "grown and shaped". I was talking about at the individual level.
Ah OK! Sorry! And great to hear! :)
not a good financial move? how do you know yet? you were pissed off on facebook posting for free and now you are getting rewards. i don't know how great of a financial move it was to waste 10 years posting on facebook for free, i guess it's all about perspective, which you have none of even in the fiat world. oops.
I'm thinking the main rationale for a whale to sell around these prices is this:
BTC broke a key support level and is dragging everything down... They may be taking a gamble that there will be significant price bleeds and they can get back in at a great price...
I'm not saying I fully agree with it, but that's the buzz I hear on other social medias (about alts in general)
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Thanks dawg! Before the recent crash, I sold 9000 steem for a stable coin and I'm hoping for the best.
I've always been a critic of the whale phenomena. As a minnow, waiting to be noticed by a whale and all the suckerfish that follow them blindly is kind of frustrating. Creating good content then waiting for the luck of the drawer is frustrating I'm glad it's on its way out
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I’ve been powering up for weeks. I’m a long way off hitting dolphin status but I see no reason to slow down the powering up now.
You know what they say, while people are panicking, strengthen your position.
This is not just Steem/Steemit, just look at the DJIA. If I were to sell now at a loss, where would I put my money.... In a jar and bury it in the ground? No, I am staying, and I am powering up, when all the markets turn around ....It will be there loss not mine😆
Resteemed @meno👍
I'm really glad you covered this!
I also wanted to talk about distribution! Let's get some attention to the person who purchased. That is exactly the type of action we want to reward! :)
@meno I always thought that there was a need of wealth re-distribution, only having like a few whales and some dolphins and like a million minnows and planktons is kind of like feodalism... You know the good old days...? 🙄
/FF
The encouraging fact is that distribution has been occurring for months already although very slowly. According to @arcange’s stats, the minnow and dolphin population is growing at its quickest pace ever. It is truly encouraging and makes me even believe I can become an Orca!