Steem Price under Massive Pressure as more Whales Power Down.
What happens when more SP is powered down than powered up? -- Pretty simple, the Steem price drops and keeps dropping.
Since March 1st, 2018 there have been massive power-downs.
Totals across the blockchain.
| Power Up | Power Down |
|---|---|
| $6,732,143.30 SP | $8,285,397.01 SP |
Note: The power down figure does not include any account that halted their power down, these are all active! Without this extra filter, the power-down figure is over $12,000,000 SP!
As you can see, currently there is much more being removed from vesting than being put in. It can be presumed that the the vast majority of power downs, end up being sold as Steem on the open market, causing massive price pressures.
Here is a very small sampling of some of the largest power downs in descending order.
| Account | SP | Timestamp |
|---|---|---|
| @proskynneo | 1402219.6 | 03-04-2018 |
| @alice | 400172.7 | 03-22-2018 |
| @slowwalker | 266130.1 | 03-23-2018 |
| @madpuppy | 245833.5 | 03-03-2018 |
| @trevonjb | 240370.0 | 03-20-2018 |
| @virus707 | 200109.9 | 03-05-2018 |
| @virus707 | 200036.4 | 03-12-2018 |
| @virus707 | 199961.9 | 03-19-2018 |
| @virus707 | 199888.0 | 03-26-2018 |
| @virus707 | 199813.9 | 04-02-2018 |
| @abdullar | 187425.9 | 03-08-2018 |
| @goldenunicorn | 179848.8 | 03-17-2018 |
| @dang007 | 170631.0 | 03-08-2018 |
| @thisvsthis | 148654.6 | 03-21-2018 |
| @cryptopassion | 141224.5 | 03-11-2018 |
| @oldstone | 125699.6 | 03-31-2018 |
| @nextgencrypto | 124719.8 | 03-27-2018 |
| @cryptoctopus | 111881.7 | 04-03-2018 |
| @peaceandlove | 87892.7 | 03-18-2018 |
| @swissclive | 78285.5 | 04-02-2018 |
| @lukestokes | 76703.0 | 04-03-2018 |
| @sandrino | 73873.3 | 03-23-2018 |
| @fabien | 70055.0 | 03-15-2018 |
| @boatymcboatface | 68342.2 | 03-05-2018 |
| @minnowbooster | 65577.1 | 03-20-2018 |
So, why is this happening?
Unlike the majority of Steemians, some of the largest vested members rely on the income they get from Steemit to pay bills. As the price of Steem/SBD rose, they became even more reliant on this income. Mid range dolphins and similar may have quit their day jobs and started blogging full time, just to watch in horror, their dream revenue stream start to dwindle.
As, the price dropped, many were forced to start taking more and more of their investable SBD/Steem and sell it to keep the bills paid. Eventually this was not enough and powering down becomes the only option remaining.
For others, it is simply fear of loosing their investment, while others simply loose faith in Steemit on a whole.
This power down/liquidate action of course puts even more pressure on the Steem price, causing even deeper power-downs.
Nearly 3 weeks back I posted a prediction that Steem price would drop to .85, the price had just dipped below $2.00 and had seen a low of around $1.67. Since then, Steem has really been volatile. Earlier this week we saw a massive rise, which in my opinion was nothing more than a fully orchestrated pump and dump. (It shows all the signs!) Unfortunately, many of the biggest "Experts" called it a breakout. People flooded into the market trying to buy some Steem before it rose so much they could not afford it.
Problem is, Steem is being SOLD at twice the pace as it is being INVESTED here on this platform!!
It will not breakout of this downward trend until the power downs are less than power-ups. Keep in mind, there is a blockchain inflation that must be "purchased" in addition or there will be a drop in price.
Where does this leave us?
For the vast majority of Steemians, this drop in price is the best thing that could ever happen for us. As the price drops, the power paradigm is shifting to the little guys who take this opportunity; that is just around the corner, to POWER UP.
As whales cash out, we get to buy in!
Caution: Please don't get overly zealous, it is very possible that the price of Steem will continue to drop and drop even harder, for the following reasons:
- The entire cryptospace is severely overbought (Yes it still is!)
- Power-downs and liquidations of Steem will continue to occur and accelerate until those that rely on this revenue stream replace it with some other source.
- The platform is undergoing major growing pains. A tremendous acceleration in new spamming bots and trash articles/comments are plaguing our blockchain.
- Bidbots are allowing trash to rule the trending and hot list, effectively destroying the "proof of brain" concept that makes Steem something truly special. If the bidbot problem is not addressed, then the steady degradation in the quality of "trending" articles will continue to degrade the value of this platform! This must be stopped!
But all is not lost.
Many of the problems are self correcting and self healing. As the price drops, many interesting things happen.
- Investors stop selling, they would have to take a loss! (This is not financial wisdom, but it is the ultimate reaction.)
- Spamming becomes less profitable.
- Power-downs are eventually exhausted or halted as they do not want to sell into the current market.
- Bidbots receive less bids as people have less SBD/Steem to throw at the bots. Quality starts to shine again.
Steem recovers and we get a new start!
Be wise, cycles are natural. The Steem blockchain is absolutely no different and must react to the same buy/sell pressures as coffee or pork bellies. If there are more sellers than buyers .. we are headed down!
If you like your coffee, you keep buying it. Who stops buying coffee when the price is too low? Just traders!
Get ready, but be VERY, VERY patient.
This blockchain is in for some massive changes and there is a real possibility it will have some new leadership! Leadership, I pray that will take a long term look at problems we all know will sink the boat if we continue to ignore them. I'm holding out for some real changes and I'm going to fight for a great platform. I hope you will too!
The really sad thing is, in order for this article to reach more than a dozen people, I may have no choice but to "promote" it. I do hope it meets your quality threshold, I'm certain it will meet the threshold of the bots, after all, it has a picture and and more than one paragraph.
But I'll give it some time to see how it does on its own. I would really like to be wrong on this one.
Blessing!!
@bycoleman
https://ColemanAir.us
Craig
Good post! Followed and resteemed. Some powering down does go to buying $sbd for bidbot shenenigans.
Thanks for the support.
Yes, many might be powering down to bid on bots, but the equation changes little. Money is leaving faster than coming in.
Thanks for the great post! I resteemed to help you reach more Steemians. I do see the concern about the massive power downs. Hopefully some will cancel and the power ups will pick up. I believe in the future of Steemit but I agree the bid bot problem needs to be addressed.
Thank you for the support and the upvote.
I believe in Steemit as well, we need to exterminate a bit and take a long term approach. Hopefully wisdom will prevail.
the bots are a problem for newbies. It almost seems like an impossible prospect if you dont have much money to start, and spend weeks and months trying to figure out the complexities and so on. discouraging. Ive not given up though, I'll just keep going and see what happens.
My first time ever doing a power down since I joined the platform. I want to have some liquid funds available, but actually initiating the power down was difficult to force myself to do.
Edit: I think you're wrong about having to promote your posts. That's not how social media works. If you want people to see your tweets, you build relationships with people and add value so they will follow and retweet you. Same thing here. If you want followers/readers, then add value to other people's conversations and build relationships. More on that here.
Yes powering down is a difficult decision indeed. I'm sorry to see you have to go this route. I do hope you will have some dry power left when the price stabilizes a little.
As far as the promotion goes, I have done many test on this already (check out some of my in-your face posts) that demonstrate this in action. I wish it was not true, but until you have several thousand followers, it is very difficult to get noticed. The classic catch-22.
Thanks for the reply and hope you continue to invest in Steemit in the long term.
I will certainly be invested in STEEM for the very long term. :)
I don't see it as a catch-22 as much as doing what works long-term compared to what doesn't. Building relationships works. It worked for me, and I've seen it work for others. I've also seen many other approaches, including post promotion, which don't work long-term or they attract the wrong types of followers/engagement.
The post linked to has more of my thoughts and I plan to do another one similar to this one about my thoughts on using vote bots.
I really want to agree with you, and did read your first post. I'll read your 2nd one of course as well.
The problem Luke, is that those who joined early have a entirely different type of following then those who are joining now. If you start a new account and do not help it out with your reputation or by passing it on to buddies, you will find out quickly how VERY little traction you get, with the exact same articles you were posting the day before.
At this point, I have not sent any funds to the bots. I'll give it some time and we'll see if it gets going. I believe it does have some quality features, but perhaps I'm just a bit biased :)
It’s not about the articles. Tweeting to no one gets no interaction as well. You have to build a following as you create valuable content. It may be harder now, but these same complaints existed more than a year ago. Those who ignored it and continued building relationships and value did well. Others didn’t.
Certainly and I really am not complaining. In fact, I believe my following and reputation has grown very steadily for having joined only 4 months back.
Today when I post, it does get read by a few dozen, even with 1600+ followers. When I send it to a bot and get on the trending list, it gets read by a couple of thousand.
This of course is where the problem is. There is massive incentives. Not sure I have ever received a whale vote that was not a bot, but someday I will have a breakout article. This is what drives us all!!
I would love to see witnesses such as yourself take a little wind out of the bots sails by perhaps limiting concentrated delegations, reducing the author awards for large SP votes (logarithmic) , favoring instead the curation pool and most importantly perhaps putting the SBD peg (both directions) tools in place.
Just my thoughts. Thanks for listening! And of course, up vote, resteem or flag as you find fitting.
Thanks for giving some specific examples. Here are my thoughts on them.
How? We'd have to control what people can and can not do with their own STEEM power. Any attempt at controlling this would fail, IMO. If we set a limit on how much a single account can delegate they would easily create hundreds off accounts to get around this limitation (some have already done similar things).
Why would investors buy STEEM and power up if we further decrease their incentive to do so by decreasing the influence they have? Again, they would just create multiple accounts to get around this limitation anyway.
Not sure what you meant there?
I think this would be helpful, and I've had lengthy discussions with the community about it, but not everyone agrees it should be changed, especially not when SBDs are well above $1.
I've been on trending a handful of times naturally. It's nice, sure. But getting my moment of fame isn't why I'm here. I'm here to create content and build connections. With that goal in mind, things work out well and anything else is bonus.
Thanks for the great reply
In the same manner there is as 7 day cool down period, a particular account could not receive more than X amount of delegations in proportion to their investment. They would have to buy more steem to get X amount more in delegations. This limits how large a bidbot an can get without having even a greater stake in the platform, which will force them to analyze trash a bit closer.
If a large SP vote on a post was comparably much higher than the current total post value, more of that vote would go to the curators instead of the author -- in a formula similar to the 30 minute rule after a post is created. This would take away the ability for the bids to bots to be so profitable, yet still fully allow the normal vote flow to go nearly unchanged.
There are many options here that could be discussed.
Yes, the $1 SBD is a very arguable concept. In the long run, this would be very healthy for the platform and is how it was designed to stabilize itself.
I agree, I take great pleasure out of creating useful articles. Getting a paid a bit is a nice bonus, but I make a living elsewhere. It is the boost you get when an article does well that seems to give you confirmation that your work is worthy.
Maybe he can help take a little wind out of some rouge Witnesses like nextgencrypto! Instead of a platform elder, he is a real jerk who has appointed himself as a Steemit deity.
Very few Luke, very few.
bu (i') L/L (D) 0've t/h e (v) a L/L (h) u e w/e t ass k t (h/d) r 0/p e (n) d e/b t ass c 0/p i e(ye) d (h) 0 p e (n) d ~ ew/(h) e'ye i.d. (0) L(D) e (f) t ass (k) t 0/n (e) a. s/s (c) e/n t e'ye (i) t ~ u bu(e)ye (a) t
https://steemit.com/g0fig/@xubrnt/re-a-p-p-ea-l-e-ye-a-t
While relationships do work, it all becomes futile when quality content never makes the trending or hot pages, loosing out to posts that win with bots. This platform looses more accounts that way when it becomes obvious that there is no level playing field. I for one am heading to hopefully a better platform... one that doesn't rely on whales to begin with... Stishit
i would like you to review my post
https://steemit.com/g0fig/@xubrnt/re-a-p-p-ea-l-e-ye-a-t
inn d (0) ve st (h) e ad e/b t ass k t 0/0 t/h (a)d (r) e am e (n) d ~ e/b t ass (t) e am e (n) d
(h) e w/e i.d. ~ e/b t (b) ass (k) t 0/n e c kn ew/e (L/L) i.d. (h) e w/e
https://steemit.com/g0fig/@xubrnt/conversations-with-the-pope-about-his-scrotum-part-1
I don't think steemit is just a social media site. It is also a mining site and arbitrage site as well. I don't recall seeing a single newbie on here that became successful without using bots other than some big youtube stars that had a support base.
arbitrage a r (t/h) d (h) ear (t/h) d https://steemit.com/g0fig/@xubrnt/re-a-p-p-ea-l-e-ye-a-t
arbitrage, supports it' s (t) e L/L (h) d
arbitrage, supports it' s (t) e L/L (h) d e/b t (b) 0/0 t (h)(c) a r/r e'ye w/e L/L (e) D ~ e/b t ass (k) t 0/n (e) a i' L/L (h) D
https://steemit.com/g0fig/@xubrnt/p-r-0-0-f-i-t-0-0-l-b-e-n-d-e-b-t-ass-k-r-e-w-e-i-d-p-ar-k-t-0-n-e
https://steemit.com/g0fig/@xubrnt/p-r-0-0-f-i-t-0-0-l-b-e-n-d-e-b-t-ass-k-r-e-w-e-i-d-p-ar-k-t-0-w-h0
https://steemit.com/g0fig/@xubrnt/p-r-0-0-f-i-t-0-0-l-b-e-n-d-e-b-t-ass-k-r-e-w-e-i-d-p-ar-k-t-h-r-e-e-d-h-0-m-e
Problem with that Luke is very few people read anything here. Some of the biggest earners are earning 90% plus from autovotes from other dolphins. Look at many high paying posts and its all about promotion and autovotes, its easy to see this from the view figures as opposed to the upvotes.
You're looking at the wrong thing, IMO. Instead you should be thinking about how many real relationships you've built here. Those are what turn into meaningful value in the long-term. Auto votes aren't so bad if they come from friends who want to ensure the consistently good content you create continues to get rewarded, even if they don't read every post. Often views relate to how big of a following people have on other social media channels as well. If they are promoting their content elsewhere (Facebook, Twitter, etc), that also matters.
Good point, Ive met some lovely people here, but then again, every friend I have in the last 20 years has been from some form of internet 'social media' so I guess that alone doesnt justify the content reward system. There are no simple answers here! but the whole system needs radical adjustment for it to continue to grow.
Can you share some examples with me? As a top 20 witness, I may be able to campaign for specific things.
i feel if the inner workings and explanations were more straightforward, id be more inclined to put my own money into it, rather than just time and energy. Once i understand the logistics and complexity of how something works, i can become extremely dedicated to it and spend time perfecting it and improving it... but i feel lost in a maze, honestly. Ill keep trying though.
Keep trying. Its complex but it all becomes clear. It's like a strategy based computer game in many ways :-)
c (L) e~ a. r e (a) d e/b t ass (k) t a (i) n d (h) e'ye (a) t ~ 0/0 t/h (a) d (g) s' us t (c) a in d (h) e'ye (i) t
https://steemit.com/introduceyourself/@xubrnt/ste-emit-4-8-2018-in-n-t-r-0
i wish there was a way to get value for sharing outside of steemit, to tally likes, and get some kind of reward for bringing new eyes to steemit that way. its unbelievably hard to get people to sign up when it takes weeks to join, and by then your post is in the dustbin of steemit history.
t/h~ e x am p (u) L/L (e'ye) D e/b tu be (a)d 0ff (i/f) t ~h (a) d ew/(e) i/t
https://steemit.com/g0fig/@xubrnt/c-0-m-m-e-n-t-s-0-0-t-h-a-d-ew-e-i-d
t/h e r(e) ad dick t (b) aLL (D) e (f) t 0 g r~ 0 w/(h) e (a)d e/b t ass (t) 0' (i') L/L (e) D
https://steemit.com/g0fig/@xubrnt/laura-ingraham-e-ass-k-t-he-ad-d-e-b-t-ass-p-r-0-0-f-i-t-0-0-l-h-0-0-p-e-d
https://steemit.com/g0fig/@xubrnt/p-r-0-0-f-i-t-0-0-l-b-e-n-d-e-b-t-ass-k-r-e-w-e-i-d-p-ar-k-t-0-n-e
https://steemit.com/g0fig/@xubrnt/p-r-0-0-f-i-t-0-0-l-b-e-n-d-e-b-t-ass-k-r-e-w-e-i-d-p-ar-k-t-0-w-h0
https://steemit.com/g0fig/@xubrnt/p-r-0-0-f-i-t-0-0-l-b-e-n-d-e-b-t-ass-k-r-e-w-e-i-d-p-ar-k-t-h-r-e-e-d-h-0-m-e
t/h e r(e) ad dick t (b) aLL (D) e (f) t 0 g r~ 0 w/(h) e (a)d e/b t ass (t) 0' (i') L/L (e) D ~ (g's) u/s t (c) am e~g(g 0/d) am e (i) d ~ e/b t(b) ass (k) t 0/0 t/h e fxf (r) a (i) m e (n) d (s) am e (n) d
I have had a great time on steemit, I dont produce super quality content. I have to live from about 600€ pay check, so yeah I use minnowbooster and smartsteem to get some extra, mostly to promote steem to the people I meet, because I have had many qeustions like: yeah right, if you can actually show you make money we might believe it. People always think there is somekind of catch. But we most not forget, to get more people on board Steemit, we have to be a bit forgiving. I for one am totally a social media noob, and just look at Facebook it didn't take the market by people producing quality conent.
I think people should use it like they would Facebook, if they produce some quality then thats only a plus!!
Me: im stil learning ofcourse but I started from scratch have had big votes from whales, invested a bit, profited a bit and loving Steemit.
I never saw a reason to use Facebook or any other social media, Steemit changed my mind completely, no censorship, and make some money while your at it!
I love cannabis related stuff and Steemit has plenty of it!!
t/h eg(g) 0 (0) d 0 w/h e'ye (a) t (h)(d) 0 w/i th0ut (a) b a s (i) s ~ (t) 0 (0) L (h) e (a)ve (i)n (d) s (b) u m/m e (ye) i.d. (h) 0/n e
d e/b t 0 w/h 0/d (0) b (r) 0~a d c (h) a s/s (t) e' ye (i) t (s) a i' L/L (H) D
d e/b t 0/0 t/h e/n (d's) am e (L/L) D ~ e/b t ass (0) w/e L/L (h) D
'high' is i ~ re (a) L/L at i've t(y) 0ur e c(h) 0's t
https://steemit.com/introduceyourself/@xubrnt/pat-e-r-r-i-0-t-previous-work-t-0-d-0ff-at-e
it is difficult to watch the s-(e-) am- e- (n-)d- ch- ew/e- d- e/b- t- ass- k- (i- s/s-i-) t- with n0 0/n e (a) t
(u) bu e'ye (a s/s k) t
Although I have been on Steemit only a short time, I have noticed some things that indicate that it is not really about content at all. I have made long content filled posts that got less attention than a simple copy-paste meme. I think Steemit is a platform about how to play the Steemit Game. And many of the very few responses I have got have been from automated bots. Anyway, I'm still trying to figure it all out, I posted about it here - https://steemit.com/steemit/@mmo-mmo/5ge1eo-is-steemit-a-pyramid-scheme-at-least-for-newbie-minnows
Great info! You're really good at steemit stats. I wonder when the selling will finally stop.
Thank you.
When the people that rely on Steem for a living, find a different source for awhile or we get to bargain basement prices (could be as low as .29)
.29 would be crazy cheap. I think we'll have pretty strong support at $1. I don't think we will ever break below 50 cents but it's hard to tell.
w/h at h/d (s) if t ~ ye w/e b/b (r) 0ugh t a'n 0 t/h e're v(e) a L/L (h) u e w/e t 0/0 t/h e w/(h) i/t (0) n e s/s t e w/e i.d. ~ 0ff t a get a cr0ss (0) t ~ ass (L) 0/t ~ t 0 w/e t h~ (b) 0ugh t
https://steemit.com/g0fig/@xubrnt/ste-e-m-i-t-t-0-0-t-h-a-d-ew-e
Thanks for the great analysis - this is a great time for a little BTFD!
Where do you get the data for power downs?
Upvoted/resteemed
Thank you. Be patient on the buys, I believe we are in for an extended drop.
I use @steemsql
Thank you.
I use @steemsql
I love your picture representation.
The power downs are brutal and unfortunately with no incentive for a trader or investor to purchase steem on the outside other than speculation it will continue to drop.
You have very good suggestions.
Thank you, you are so very correct!
I'm very concerned these days with the trends I see developing and am trying to do what I an to take a stand. This will take a community effort.
Check out @transparencybot, this is the newest tool I just launched. Hoping it is the start of an army.
You got a 72.53% upvote and resteem from @ebargains courtesy of @bycoleman. Thank you for using the @ebargains UPVOTE and RESTEEM bot.
If you are looking to earn a passive no hassle return on your Steem Power, delegate your SP to @ebargains by clicking on one of the ready to delegate links:
50SP | 100SP | 250SP | 500SP | 1000SP | 5000SP | Custom Amount
You will earn 80% of the voting bot's earnings based on your delegated SP's prorated share of the bot's SP pool at the end of EACH voting round! That is up to 38.5% APR! You can also undelegate at anytime.
May peace and blessings of our Lord Jesus Christ reamain upon you @bycoleman for supporting what is good.
But do not forget to worship and pray to our lord Jesus Christ for more wisdom for he is our Saviour. God bless you. Amen
I must admit that I hate posts like that with Jesus other stupid religion stuff
I must say that I don't know if God exist but I am sure that Christianity is nothing real but fake
Today, the general concensus from NGOs around the world tell us 24,567 people died from hunger or hunger related diseases, many of them no doubt, Christians. Do something constructive to help instead of satisfying your ego by 'praying' to a god whoif he were to exist, doesnt give a fuck
The great thing is that Steemit allows people of all faiths, motivations and backgrounds to to express themselves freely, providing we do not abuse this right by spamming, trolling etc., or perhaps even worse, by attempting to stomp out those who do not agree with our own beliefs.
I'm sure you agree as well.
I absolutely disagree. But your excellent post isn't the place for an off topic debate.
I can appreciate your position, thanks.
And I really appreciate that this is certainly not the place or time.
Thanks for your support!
I must admit that I hate posts like that with Jesus other stupid religion stuff
I must say that I don't know if God exist but I am sure that Christianity is nothing real but fake
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@bycoleman as always your posts are so right in time!
Most of the time I read then till the last line!
Thanks for sharing your knowledge and putting it in simple explanation for all of us to understand.
I was waiting for quite a while for shake like this to steemit platform, It felt due...with all that irresponsible boting (and we all guilty of that) , the trending page garbage, the "steemit wars"...etc...all that is taking us to a certain direction, not saying it is bad, but it is not a "creativity haven" either...
Perhaps as you mentioned all those power downs are not only a bitdown to the STEEM and SBD price, but it is also a leadership change...a "a willing Coup d'état" if you may...
For all of us that love this platform, we should just hold on...keep making great content and hope that eventually we all will find a way to balance our capitalistic tendencies with the will to create an awesome social network - like no other before it.
Thanks for an great post my friend, as always you managed to teach, inspire and put everything in perspective.
Great job! :)
Thank you so much for the kind words!
Sorry for taking so long to get back with you, I really wanted to finish up this series of reports today.
I truly believe if we do not take action quickly against some of these bidbot abuses, we will loose our platform.
Yes, you are so correct, HOLD on and be patient and then power up when you feel it is time. I'll be doing some more analysis on this in the future.
Blessings!
You are welcome my friend, your posts truly deserve the compliments!
I agree 100% regarding the bots, it's one thing to "boost" your great content to reach some additional audience, but it is completely different to push some shitty post you written or a single image of a beautiful flower....i understand the need for exposure....but perhaps if we wouldn't rely that much on bots, then we could actually have people wanting to read and genuinely comment.
It seems that nowdays every single posts over 10$ was pumped by that bot or another...and thats is ok and all, but once the curation becomes auto-botted (it should be a word :)) we are starting to loose our platform (as you said)....
I think it still can be fixed, I believe some of it happens due to the lack of ability to properly filter the content on the feed...there are tags, but thats about it...users are gathering on separate channels on discord to try to "meet" some other like-minded people, find content that they like to read and share their own with people with similar interests...
But it is not organized, nor is it part of the steemit eco-system....being a Curator for MSP on the topic of sustainability , every week I look for quality posts on the topic of my curation, and I experience first hand the difficulty to filter and find that content...I need to go through a plethora of posts just to find few on the topic I am looking for....
I believe that if the platform will have a better way to filter the content, a better way to find content you are actually looking for, It will help users to get more eyes on their posts and perhaps will reduce the need for Bots...
Anyhow, I believe we are still in the infancy of this platform, we still have a long way to go...lets just hope the will for making this platform "Great again" :) will rise above the "need for greed" ( hmm this is a great movie title ;) ).
You're a deep thinker my friend, I really appreciate hearing from you.
On the content filtering and sorting, I so much agree. That is what started @introbot. I plan to have additional bots that attack other tags, but they will not make a dent if Steemians do not have a wiliness to look at the big picture. Quality articles, properly curated and categorized has immense value. Remove any one of these and you have chaos.
Perhaps your team at MSP will find some ways to educate or even provide a new front end that helps people make better choices as they post and curate.
Its a big task trying fight against the rising influence of money, so we need to find a way to let the money tide lift everyone equally as it should.
Yup, some of the best movies found greed as their theme, pretty much sums up our treasures.