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RE: Attention Sharks - There is blood in the water. Are you ready to invest?
30 whales consume 90% of the voting power; that's the problem
as long those whales are not being put under pressure to stop their narcissistic behaviour ... steemit will fail!
I disagree. This is not an issue. Steemit is about giving people that invest more voting power.
I think there are other issues with the curation system however.
that sounds good in theory, but tell me ... why is the price crashing? why are posts down? why are people leaving?
Yes the price is down. There could me many reasons. There are many things i would do differently, however i think rewarding SP holder with influence is a key design that makes steem strong and unique and drives investment. If that was not the case there would be no reason to invest in steem. So what you are proposing is counter productive i believe.
the facts are the facts; 30 whales dominate everything, which is why the other users just don't matter and that's why they're leaving ... you're just scared of the whales, so much so that you can't even be honest with yourself
Whales are not the problem. When these whales will have fully cashed out there will be new whales that will do the exact same thing. Whales will always exist and they will always dump large amount of coins. The reward pool is a drop in a bucket compared to the hyper inflation and the narcissic behaviour is not having a consequence on the price. The problem is that there is no buyer to buy steem, period.
Steemit thought it could prevent this insane inflation from having any effect on the price by locking people's money but it showed that this is not working, people are not willing to lock their investment which is why there is no buyers. Not to mention that the inflation devalues the currency so much that there will be no reward left for anyone and investors are seeing the shortcomings of this platform.
The problem is that there is nobody on the other sides to buy from the whales, 300%-100% inflation is a no go for any sane traders.
I am super happy about the price of steem dropping lower everyday, because I'm buying and powering up steem everyday. You are right about there not being enough buyers who want to lock up their investment, as it takes a certain type of person to do it, the type that is only 1%
I don't want to burst your bubble but you need to know that the more coins are being issued the more money from investors will be required to maintain the current price. So not only there is a lack of buyers but the unnecessary inflation requires steemit to have more buyers than we already have ( which is very few) Hopefully that made sense.
Indeed which is why the 2 year lock time period is preventing a lot of people from participating in steem .
the lower the price goes the more authors will quit because the rewards are not worth the effort, then only those who are on steemit for the community, investors, and developers will remain, that's when the distribution of steem power will be most effective, then eventually when things recover, steemit will have a better platform with better distribution. When the steem power is more distributed, users who post short simple blog posts will get rewarded more frequently, with lower dollar amounts per blog post, there will be a better ratio of social network rewards to blogging rewards. More steemians will be able to earn rewards like @halo
It's good that there's not enough buyers right now, or else I would not be able to eventually get 1 cent steem. There are many features and upgrades being worked on for steemit that will be implemented over the next 6 months, as time passes there will be many more buyers for sure. Right now it's a sweet spot for investing in steemit for small investors like myself, when the millions start pouring in a few months from now, there will not be any 20 cent steem. I think most of the complaints about the steem price are from content creators who want better rewards. When the price of steem was above $1, potential investors complained that the price is too high with such a big inflation rate. Now the price is low and investors can't complain, but content creators are crying for rape and murder.
"300%-100% inflation is a no go for any sane traders.", agreed as far as I know, the steem token was never meant to be traded on exchanges for profit, it was created to back steem dollars, and to purchase VESTS as on ramp steem power. It's working great.
This would be expensive as fuck in a few weeks.
Indeed you will never see that price ever again, certainly not with this insane inflation.
Without speculation steem is going nowhere, hype and speculation is everything in crypto.
Ethereum managed to pass 1.8 billion market cap with zero working app, only HYPE.
If steem was a speculative tool it's price would probably 5-10$/steem right now with all the new projects going . Whales would be millionaires instantly. Smooth would be retired already!
Not kidding
If steem is working great can you explain why the price is lower than when it wasn't working at all?
I agree the inflation rate combined with locking up money for two years appears to have made for a much more volatile currency.
That's right. An illiquid market is always more volatile. Liquidity creates stability.
@snowflake I always love your succinct and elegant explanations.
the whales consume 90% of the voting power, which is why steemit is NOT decentralized and that's why it's failing; it's a mathematical truth
while at the same time there's 1 more problem; people like you; stupid, ignorant cowards that believe their own fucking bullshit
you're actually trying to deny maths ... that's a problem, me calling you an idiot because of it is not a problem ... as long you don't understand that, you really need to learn how to shut the fuck up
If the price of steem was high you wouldn't complain about this, because there would be money to go around for everyone. The distribution issue would be solved a lot faster if there was more buyers ( to attract buyers see my post for recents proposals)
What you are whining about is a non issue compared to the real issue which is hyperinflation.
You need to look for the root of the problem man.
Also you should provide evidence for your claim and be more respectful to people.
you could have read my posts first, instead of spewing some bullshit based on nothing!
first of all; I don't have to be respectful towards bullshitters, I need to be rude and aggressive towards people that are such extreme cowards that they can't even be honest with themselves
I don't know you, but I do know timcliff by now; the guy is a total bullshitter
every couple of weeks he makes a post to explain why the price of SBD is about to shoot up ... while it just kept dropping and dropping and dropping; timcliff is a bullshitter
secondly; you want evidence? read my posts, you ignorant fuck
and the fact that he got so many votes shows what's really going on here; it's not a technical problem, the system works just fine, it's the people; most people here are empty stupid, ignorant, fucking lefties; that's why it's failing
and if it will ever change it will be thanks to brave, insightful truthful people like me willing to fight ... not some fucking loser like timcliff; he's a bullshitter
you should read Sir Isaac Newton's private letters; compared to him I'm a fucking nice guy ... so, tell me ... how come you have no respect for Sir Isaac Newton? explain that, you condescending, self righteous prick; I don't have to be respectful towards bullshitters and fucking cowards!
while you need to be respectful towards a mathematical genius like me ... I can actually solve this problem ... what do you have to offer except for a bad attitude?
it's what you're saying in this very post and yet you're denying it; you're really sick in the head
You sound like a troll
That's what your post says
No evidence whatsoever
Curious, where have I been saying this?
I agree this is a big issue. It was discussed within the post above in great detail though. The section starts with:
I did realize that there really wasn't good coverage on this though in the top section where it lists all of the Steemit issues, so I added this part. Thanks for the feedback :)
just say it right on top of the article; as long the whales are a bunch of cowards and idiots, nothing will change and steemit will die
In my opinion users who are replying to people with comments like this are a bigger problem than the whales voting patterns. I actually agree with you that the voting power of the whales is contributing to a lot of issues. We are not on opposing sides to this. We should not be fighting each other.
Reality is what it is though, so the best we can do is try and work on making it better. If you are making comments like this with the intention of trying to make things better, I would suggest you try a different approach.
the sooner this jackass (luminousfool) leaves, the better the platform will be.
He is wholly incapable of arguing without resorting to ad hominems.
I know what you mean.. I am tempted to 'not feed the troll' but at the same time I'd like to see if he/she has a legitimate issue that could possibly be ironed out. The more I talk to him/her though, the more it seems that the conversation isn't going to go anywhere.
hahaha ... sure, I'm the problem; I didn't post or comment in 30 days, and in that time the value of steemit dropped with almost 70% ... but I'm the problem ... of course!
you're too fucking stupid to know how stupid you are
tell me ... who's the one here without arguments, but only ad hominem insults? you called me a jackass, but you didn't make an argument ; as in; it's you, you fucking hypocrite that you are!
@timcliff the loser
except that by calling me a troll, which I'm not, all you're doing is demonstrating yet again that despite your polite language; you're a lying, cheating, corrupt piece of shit!
of course the conversation isn't going anywhere ... because you don't care about having a conversation, all you care about is bullshitting yourself, you're just talking out of your ass to make yourself feel better, without giving a shit about the facts
I read several of your posts; you're a complete bullshitter, you're always wrong, your prediction never come true, your solutions don't work, your opinion is based on feelings, not facts etc etc ... you're a bullshitter!
you always claim the price is about to go up, you've been claiming that for months, while all the time the price just kept dropping; you're a bullshitter
while when somebody likes me comes along and point out the facts ... you take it personally and and turn into a complete bitch
you're wrong, I'm right; deal with, you fucking loser
In response to your reply below, I've learned that engaging him is an absolute waste of time. Like trying to get into a boxing match with a bag of acid. Completely toxic personality.
There are legitimate complaints about the Steemit platform, and I've had a number of posts with my own observations/recommendations.
There are far more competent, well-reasoned, POLITE individuals to discuss with. All you'll iron out with luminousdbag is that you've wasted your time arguing with someone who likes to spit venom. That should be apparent by now :) Fortunately, my downvotes for his comments hide his nonsense :)
tell me ... how come I get a lot of votes, while you don't get any votes at all?
because people appreciate my honesty and are sick and tired of corrupt cowards like you
where the fuck is your argument?
you keep talking about how bad I am, but you don't have arguments, you're not adding anything to the conversation, all you're doing is trying to smear me, because you're too much of a coward to deal with the facts; the whales got too many power and they're fucking up the system, that's part 1 of the problem, part 2 ... those average users that still remain are mostly worthless losers like you and jimcliff ... you know I'm right, but you're so scared you just can't admit it
which is why you didn't make any argument whatsoever, but spewed nothing but ad hominem attacks; you're the fucking problem, not me
make a fucking argument, you loser
I hear you. I think pretty much every public online community is going to have users like this to deal with. It's really not what he/she is saying that is bad. It is the way it is being said.
You and I are not people on the other end of the keyboard with thoughts and opinions on the world. We are evil and incorrect ideas that must be eliminated/destroyed :)
But it's not the best that can be done. The response you give suggests that we should do what we need to do.
Reality is that they gave themselves an edge over everyone at the start. Now whatever you make of that situation, it is the thing you are saying is a major problem... and yet it is on us to make it work?
No.... I jumped on.... I tried like hell for a couple months... but trying to line up to appeal for the 10-12 votes that matter. No thank you.
Blame the dude above though..... that is a better solution.
In the context of the conversation I am mainly saying that trying to compare what we have today with a "utopia" Steemit that doesn't actually exist, but is what we all wished it would have been is not really very productive. We have the Steemit that we have, so all we can do is make the best of it (or leave).
As far as the reality we are in today, I happen to believe that the future is bright :) I am not really focused on the site and community today (with all the issues that I listed at the top), but more on what I see it becoming over the next few years.
and I found the error; you're a bullshitter, you don't give a shit about reality, you're a stupid idiot and the fact that you got so many votes explains why steemit is crashing; most people on this platform are a bunch of fucking lefties, as in; lying, cheating fucking losers!
that's my opinion, learn to deal with it, instead of whining like a little bitch
you're such a self righteous prick
you're blatantly lying to mislead people into investing into a dying/failed platform; you're fucking corrupt to the core, yet, all you bitch about is my use of language; you obviously never read about Sir Isaac Newton and his letters; compared to him I'm a fucking nice guy!
you're a lying piece of shit ... go fuck yourself
I am curious what specifically in my post you can point to that warrants the claim you are making about me. Everything here is just my opinion and observations. Any potential investors can check on all the information and content in my post and verify whether it is true or not. If there is something here that you believe is incorrect, I am happy to review and remove/correct it if I find there was an error.
@blakemiles84 you fucking coward that you are!