RE: Understanding Steem's Economic Flaw, Its Effects on the Network, and How to Fix It.
I don't disagree with any points made here, I think its been obvious to anyone paying attention for way over a year.
Though I would have one major statement to make and one question.
There is no way you will keep profit seeking gamers away from working the system. It takes to long to implement hard forks and is to easy for a gamer to come up with work arounds. The problem is now how Steem works but how PEOPLE work.
This is never going to be fixed by trying to create rules that MAKE people do what we want... If anything it will only make them leave. Then the price of steem will crash and everyone will still be complaining as the rewards will be even worse than they were with people uprooting them selfs.
So the REAL question here is of which everyone actually needs to be asking. How do we provide a quality return (which means, reliable, easy and high enough %) on the investment whales make?
This is the answer. If we can find a way that is better for the over all eco system yet still provides a reliable, consistent and profitable return then its all taken care of.
Almost no investor is going to invest in a platform not to make money. Also most whales do NOT have the time nor desire to curate. Plus higher curation rewards wouldn't change anything anyways. Just use curation bots. Easy peasy.
Glad everyone is thinking about this, but simple economics shows that its the ones with money who hold the influence. So have to find a way to GIVE them INCENTIVE to move in the direction the community wants.
SteemOn!
Hey thanks for dropping by @quinneaker, I think it just takes a lot of repetition and refinement in arguments to get the points through. There's a bit of momentum this time around as ned has considered it in the comment section of his recent post.
Check out @trafalgar's response above. He's answered your concerns very well!
Yes, all progress takes vast amounts of collective discussion, meditation, pondering and even arguing. Thats why this is great. Though with that being said my statements/questions still seem to be the key in that process. I read a LOT of comments including many from @trafalgar but did not see one that answered clearly and specifically my questions/statements. I can look again as its a critical issue.
Best regards and SteemOn!