Steemit's New Banking Social Order?
A new trend/order is forming that has once again deterred me from trading a chunk of my crypto into Steem. People all want Steem to rise in value, but want to do less as the same time. Makes perfect sense!
This isn't a sh*t post. That's a label people use too much when they don't agree with something.
Here's my take on the "cool" thing to do on Steemit right now:
- Delegate SP to bots.
- Promote bots under the guise they're helping people (to get more delegators to increase market dominance and increase "sales").
- Expect passive ROI by people buying votes to compete in the new bot-fueled feeds.
- Keep blogging per usual and taking from the rewards pool (avoid giving back at all costs).
- Skip upvoting anyone yourself because you've delegated everything to the "banks" and are literally unable now.
- Convince yourself and others that you're doing good for the ecosystem.
- Turn a blind eye because the profits are too attractive.
Seems like the perfect formula for sustainable success to me. Perhaps people will snap out of it to realize they're removing the humanity from Steemit, and centralizing Steem Power to mini-corporations. Furthermore, more Steem Power is being moved to a bucket where it's available only to those who pay for it via upvote bots.
Eventually people will get sick of the Steem power leaving humans who care, to be moved into a banking system where people only care about ROI. Ouch.
Bots automate what lazy people don't want to do. If you aren't going to use your Steem Power and want to grow the community, delegate or lease to a promising Steemian, not a for-profit bank. If you must delegate heavily to a bot, why not go all out and just stay logged out of Steemit?
This is worse than the last US Presidential elections. A pyrrhic victory at best.
Any thoughts? Am I being too stubborn? Should I just buy a ton of Steem and delegate it to try to take take take, while giving less and less?
No you are completely right. People are thinking of profits only. They are thinking short term and not long term. I believe it is the new upcoming Steemers that will have to save the platform and lead by example.
the new upcoming steemers are powerless when they come in with a measly 15SP delegated. Unless they have significant capital to invest they won't make a dint in the value based voting system.
This is a capitalistic platform so without money you're going to be powerless. If the upcoming Steemians, those with 500+ SP, lead by example by upvoting good content, have real engagements, and support the creative minnows I believe we can rule the platform. Yes the whales have a lot of power but we are still the majority. We can create a great experience for minnows that would probably inspire them to invest as well. Just my thoughts.
I'm trying to get to 500 SP :D
I also do make effort to engage with people, upvote content, etc etc.. it's a time consuming exercise but I don't mind it.
It is definitely can be time consuming but once you start to build your group of people it gets better!
They can't see that they are becoming the people that they originally critiqued. Apparently having power to abuse the system is simply too tempting for certain individuals. And they cover it up under the guise of "helping the new guys out." They aren't helping anyone but themselves.
These vultures don't care about the future. They're just waiting for people to give up and give in to their system. They're proud of their accomplishments even though they are slowly killing the ecosystem.
Well, hopefully Steem can go down in history as a mistake that people can learn from. The Steem Establishment could learn from it too, but they're raking in too much imaginary money to really care.
Well said Thanks for checking this out and your sharp points.
I guess people assume that Steem will keep growing on trees and people will always be around to buy votes and pad their pockets. If it wasn't like this, I'd have a ton of Steem by buying it, but I've chosen to only earn it from scratch, which has either hurt me, or helped me immensely without knowing it yet.
Thanks again.
It sounds like a passive way to aquire steem. It is also dull. The dullness is what could kill Steemit.
I don't think it is possible for everyone to make a lot of Steem. But so what? If things are exciting and fun, I think it will grow. People do Facebook for no earnings.
But dull... people will go somewhere else.
I have been thinking about this lately, also...
Well it's a function of Steem trying to be 2 things; a social media platform and an investment. One of the mistakes they made is tying voting power to dollar value and not SP. When my VP went down to 0.01 from 0.03, I bought some Steem to bring it back to 0.02. Seeing how some Whales treat themselves with daily up votes, I'll probably not do that again.
What is social about using bots anyway?
I will just upvote myself, to contribute to the community, because like this they can see my post/comment and vote for me too.
Its certainly getting a bit shady. Its a pity really, there is only a finite amount of steem in the pool just like 'money' in the system. People are made to fight for a share, and find ways to 'game' the system to their advantage. Soon using 'bots' or buying large amounts of steem will probably become mandatory to get seen and gain any kind of traction.
In the end those that abuse any system dont seem to realise that all they really have at the end of the day is a handful of paper/plastic/bytes. They then wonder why they have no friends or only meet people like them that hang around for a free ride. They did not take the time to make real friends in the community and share themselves.
Don't get me wrong, I like getting money as much as the next person as it has potential to make my life a little easier, but I'm not sure the way steemit is heading is going to be sustainable for much longer.
I hope I'm wrong.
Love the picture BTW.
Exactly, short vs long-sighted. When money and "power" are involved, and people can hide behind their anonymous accounts, there's less in the way to slow down the inevitable breakdown of values to focus on greed and personal gain. Thanks for sharing!
You're not wrong - but it's all a symptom of the fact that the content discoverability on steem is quite poor.
I do have hope though, I read a post about commmunities and hive mind that's in development now and I think if something like that comes in, and is actually effective, It could greatly reduce the appeal of bots.
If you have your own community then your topical posts will get seen more by the people that are interested in that content, and the exposure/votes will come organically.
Thanks for sharing your thoughts and giving me a heads up on this. A nice dose of optimism for the evening here.
No I don't think you are being stubborn. I think you are absolutely right. It's time to delegate you power to bots . You can always give loans to other steemians and take back the amounts with interest, just like the banks here do.
I'd much rather than everyone loaned their SP out to people since it's engaging and build relationships with others, while allowing those who rent to get more influence, excitement, and experience. We'll see though. Time will tell. Hopefully bots become as boring and exposed for the profiteering shams they are soon enough.
You are too good in your own way, let the rest stay in hell, do whatever pleases your soul.
Your info is so helpful.
I get fear by thinking about whole crypto condition.