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RE: Why is the price of Steem dropping. And why it is to be expected.
Without value the Steem.it ship will sink.
It is a mathematical certainty.
I have held my tongue but it seems that recently Steem.it is attracting people who see a dollar as if it were a full days' worth of work.
And now a dollar or two can be had here for some spam and begging.
Hi @randolphrope, frankly I've only been here a few days but I can see that currently there are no tools to prevent it. @stellabelle mentioned that there is something being worked on but didn't go into details.
Personally, I think more needs to be make of reputation score. A high good reputation should give payout bonuses. A new reputation should be neutral and a bad one could severely reduce the payout.
However there is still nothing to stop new spam accounts popping up as soon as a reputation is ruined.
I don't know, if the perception is you can print money from nothing then people will abuse the system.
I think a more succesfull system would require someone to part with some value, in order to promote someone else's content and 'invest' in it.
I go into my reasons why in more detail in this post https://steemit.com/steemit/@joannajablonka/steemit-is-in-danger-of-self-destruction-why-reddcoin-could-win . It's my first post, but to my suprise it has been well received by the community! So, I think there is hope yet as long as the core community remains supportive of each other and the platform.
Hello, @joannajablonka.
Thank you for your reply and intelligent comment.
I have read your post and it impresses me that you have a quick grasp of the current situation.
I agree with your assessment of Reddcoin.
And it seems to me that people who have to purchase something will not be begging for a few cents.
Upvoted and followed.
Have a look at this recent post by @henry-gant. He also sees the problem and has offered a solution. @joannajoblonka
https://steemit.com/steemit/@henry-gant/introducing-steem-it-premium-this-steemiens-response-to-spam-plagiarism-vote-begging-and-follow-digging