As such, Steemit is working as designed. It’s hands off free market stuff.
Wouldn't that be nice. But the self voting kind of ruins the analogy, plus the fact that we have a shared reward pool which gives everyone an interest in large, consistent, regular voting patterns (which suggest farm voting) especially when they are self votes.
Yeah, and it's probably not in the eye of the major investors right now. There is a lot of dumb money going into STEEM right now. Not because STEEM is dumb, because there's dumb money going into every single crypto in existence. If investors at large were to discover that people are regularly cashing out tens of thousands per day with nothing but spam BS, people would be stampeding to pull their money out.
Market forces are whats running it. Im guessing your being sarcastic.
Do you think so? I'm not so sure. I think those with a lot invested are actually incentivized to normalize that as they too tend to self reward and cash out from time to time.
I mean there are people who load tens of thousands on bittrex or binance and sort of indiscriminantly buy altcoins in the 20-50 list because they're low cap, and have the ability to really explode in value. Some of them really are crap coins, but the ones that are legit will explode and the gains make up for the loss of the bad coins. STEEM likely has a lot of investors that have never even created an account on the platform.
A lot of the money pouring into crypto is smart money - money that is going to take over those currencies.
Money that can then crash it anytime they want, and buy it back cheap, by causing panics.
Real money, in other words.
Right, I just mean there are a lot of people that are buying coins that they know absolutely nothing about. They'll see a comment on reddit or see how low the market cap is, see it pump and just buy it based on that. I would wager there is a not-insignificant amount of STEEM holders that aren't even aware of the social media aspect of it.
I don't think that dumb money is the bulk of investments in crypto. It's impossible to tell.
The inflation oncoming is a damn good reason to avoid dollars, and even dumb investments in other currencies are at least smart to get out of dollars.
In anarchy, nothing can be shared equally. Just like a pack of lions killing a weak gazelle, The dominant lion gets the most meat, the rest are left with scraps. Do away with the reward "POOL"- the term reeks of MLM Amway type shit. If you want your posts to be higher, spend some $ on buying some steem and use it to increase your posting power. The problem people arent understanding is- people are voting for haejin because he makes them money. LOTS of money. The "artists" think their post is undervalued- so they downvote everyone around them. COUNTERPRODUCTIVE. People come to steemit thinking "FREE PAYDAY" --- wrong. Come here and start giving, then you will get noticed and start recieving. Check my blog for some tax information on cryptos- no one has given me anything, but I such is life. I put it out there to HELP.
No system shares equally. We have to ask what it is we're sharing and whether or not sharing equally is even the goal.
Steemit does not in any way attempt to share equally. What is being shared out is a crypto asset which is created out of thin air, but which has utility in the system (gives you more voting power if powered up), which some people are willing to treat as money (in exchange for goods and services) and exchange for other assets.
Because it's created out of nothing, comparisons to what other national governments (even imagined ones) systems do is confused.
Sure, I agree. But that's not related to the problem. The problem here is that if you piss off some nasty rich people you can find yourself voted against in retaliation. This is obviously unfair.
So what's the solution to that? Keep your mouth shut? Just roll with it? Give up and leave?
BUY STEEM. THE SERVERS DONT RUN ON FAIRY DUST PEOPLE!! Steemit isnt run out of someones mothers basement. Its a business that operates without advertising. Who pays for the serveres, electricity, climate control, technical support? Elves? fairys? The Great Pumpkin from Charlie Brown? Somebody clue me in, Im all ears.
Its called the MUTE button.
Muting someone and burying your head in the sand doesn't negate a flag.
It gets rid of people you dont want to associate with. Much like blocking telemarkets. See it in action.
Oh I agree. It effects everybody, and I personally think there’s got to be some sort of management in there. You can’t just let market forces run things alone.
Especially when you end up with a bunch of self-appointed hall monitors who bought their way to the "top" of the power structure.
Each one, telling you the self interest their working on is for the greater community good..
Haven't we had enough of that across governments?
Sure. Now lets see you pay for the bandwidth, servers, electricity and technical support and other costs neccesary to keep this site up. Remember BITPETITE?
So much for "distributed".
And the witnesses aren't exactly in it to lose money... Lol. They're making plenty.
FTFY
Quoting someone incorrectly ... That's a-paddlin'. I'm going to have a word with the hall monitors.
Promises, promises... =p
I've been a baaaaaaad boy. Make me hurt real good!
XD
It's quite impossible to break the rules as far as I know, so you are correct. This is because at the basic level code is law.
However that does not mean we have to accept what happens, and to facilitate that disagreement we have our words and our flags.
This however may not be working and the code as law may need to be changed. Time will tell.