I'm hoping LeoFinance community will be a bit more realistic this time around about advice as I have to agree back then there wasn't much, then again can you blame people thinking Steem was too difficult to fail and not many were aware of Ned's hintergedanken to know that yes, it will get that bad (98% drop). Oh well, hopefully it can't get that bad this time around.
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The same cycles will keep on repeating themselves if we don't learn from the mistakes we've made.
And no, Ned wasn't the biggest flaw with Steem 3 years ago. Many of the same challenges still exist today.
The question is whether or not we have the guts to make radical change or not.
Making radical changes is fine but don't attempt to completely remove one of the core functionalities and advantages of Hive to cripple it to become just like any other coin out there. Look around, everyone has NFT's now, everyone has tokens and sooner or later everyone will be able to give those tokens some value and add PoB to them in one way or another. Reduce inflation a little, sure, use more downvotes, sure, but remove it completely? Pretty sure that would set us back and make us look just like the rest except for 2 pages behind on marketcap.
SMTs was a good idea because it allowed sub-cultures to choose their own ruleset. With this, there wouldn't have been a need for a Hive-wide opinionated voting algorithm. Just stake it for RCs, inflation, governance and that's it.
Yeah but it needed to happen then, now it's been years and look how all other coins have adapted since.
I think we've reached the point where we can start implementing those changes. Slowly but surely.
First step is to reduce inflation for content and curation.
Second step is to have a good platform to launch SMTs from blocktrades or have everyone adopt hive-engine and make it better.
Final step is to completely remove the hive reward pool and replace it with an SMT.
It's worrying watching some of these folks want to cripple (and that's the right word) Hive. I'll just leave it at that. Talking about it goes nowhere.
Agree. I have some juicy thoughts on that. Will share them in another post. But what I can say now: it starts with every one of us. If you can't steer the ship, start steering yourself.
I'm grateful that Ned co-created Steem, and knowing that he's just a bit older than me, I can sympathize with the sheer responsibility and pressure he prob. had to "endure", but that's where my sympathy ends. He let so many people down. I don't know how many millions of stakeholders $$ were lost due to his unfulfilled promises and his deal that splintered the whole community, just for him to "peace out" and swaggering about leaving shitcoins behind (incl. Steem) and becoming a BTC Maximalists sometime in 2019 (My guess would be early 2019, but who knows)
Makes you think he always was a BTC maxi just needed to get bend time backwards to get more of them by using Steem for it.
I think crypto portfolio should be ~50% BTC, but maxi? Nah.