They are not magically created each time a whale drops a massive upvote.
Unfortunately, many Steemians don't get it. Even if they were magically created, their USD value would drop, which is what inflation is.
Haijln's 10 daily posts take from the Reward Pool over 1,500 Steem.
Just by coincidence, a user's voting power is utilized optimally with ten votes a day. Hmm?
There are now more than 100,000 users on Steemit.
750K+
If all big whales do the same, only 33 whales can take so much Rewards, AND ALL THE MINNOWS (and dolphins) WOULD GET NOTHING!!!
Almost nothing. Small accounts can also abuse the reward pool with the same ROI, if they manage to go under the radar and not get flagged.
Then no one will join Steemit. The price of STEEM will drop to $0.00 and everyone will be sad.
Great point again! Almost no one gets that the price of Steem is bound to the quality of this website and the content in it.
Without this website and content in it and with its 9% yearly inflation, Steem is a much worse asset compared to Bitcoin, which has 4+% annual inflation at the moment.
In its current state of this website, I'm bearish on Steem to say the least.
What about the statement of "just do what he does"....
As you say above, if we all do what he does, we'll soon see that beautiful invention that the number 0 is.
Votes on @marketingmonk's posts are 90% by unique users. At most, 20% by one or two whales. 5% for Haejln vs 90% for @marketingmonk
That's some very good stats! We need more of these! What are other accounts regardless of the size of their rewards that have such skewed voting stats?
Steem the blockchain could be salvaged or even could move straight past the Blogging with SMT's or other front ends or innovations... but in all likelihood, if Steemit fails, Steem price will drop to $0.10 or less for a while(Which, if that happens, I will probably buy 2K-3K Steem. Just saying.)
I don't know. Maybe Ned has given up on the blogging side and is trying to move SMTs forward for when the Steemit platform falls. But it IS in steemit inc and ned's best interest to see Steem succeed. They own so many millions. Would be a shame for them all to be worth 0.
For your last question.... do you mean that do good? or that do bad?
There are MANY that do bad just like Haejln. I have reported many to steemcleaners over the last 5 months.
That do good?
I still support @healthy-home and @ocd and of course @fulltimegeek (his delegations were starting to do AMAZING good!!). There is a lot of good on the platform. But a large tumor can spread and do so much damage.
Thx
I'm looking forward for the SMT's and other innovations.
In that case, I won't buy 2K-3K Steem. This strategy reminds of buying penny stocks. Sure, those companies can turn around, but a good deal of them go straight to $0. You never know.
I don't know about his background. Maybe, they aren't bothered about millions. Maybe they are amazed by their success and got spoiled by it. Maybe, they didn't expect Steem to reach a billion dollar valuation. Maybe, they think this was a mistake and it will correct itself. Maybe, they want to keep it small and don't want to grow it themselves. Maybe, they want to keep it as a small personal project and don't want to hire a bunch of people. There are so many possible explanations about what's going on.
I meant that do bad. Thank you for your work!
Thank you for these handles. I will check them out.
haha, your "maybe"s are better than mine!
Thanks for joining the conversation!
Good luck!
haha, your "maybe"s are better than mine!
Yeah.... I do think the Steem blockchain is amazing, but if Steem goes to $0.10 I will decide at that time to really buy or not.
Thanks for joining the conversation!
Good luck!
The retention rate for Steemit accounts is ~10% YOY. While there have been that many accounts opened, 90% of them are either defunct, or will soon be.
Only by recruiting whales to upvote them. The extant situation is exactly what @public.eye is warning will happen. It's already been happening, and @haejin is the only change that's been forced on the hegemonic financial control of rewards, making the whales share 5% of the rewards pool with a minnow.
You consider only TA, rather than underlying technological issues. BTC is hamstrung by enormous fees, sluggish transfer and verification rates, compared to Steem, which currently is at .01% of network capacity, while outperforming BTC and ETH (which cryptokitties practically ground to a standstill) combined already in terms of daily transactions. It does this with zero fees, which you can compare to the up to 25% fee for making a transaction in BTC.
Steem is a vastly superior technology than BTC or ETH. Sooner or later, the market will learn this. Then it will be sorta like horse and buggy manufacturers faced with Henry Ford's Model A.
Not so much from a financial standpoint, as @haejin has forced the whales to share 5% of the rewards pool with a minnow, through using their tactics against them. @marketingmonk, you, I, every minnow on the platform should follow his example of successfully forcing the democritization of Steem distribution on Steemit.
That would drive millions of eager new users to the platform, and drive the price of Steem to the moon, particularly as the interest in the token revealed it's superior technology.
Oddly enough, that would create a vastly improved ROI for the whales who have derived their stakes by flashmining (no longer allowed, now that the public has Steemit available to it) rather than by investing cash, by creating capital gains similar to what we saw for BTC last year.
It's hard for me to see @haejin as anything other than the greatest catalyst for Steem to grow that has appeared to date, including the potential of SMTs.
@haejin has shown no care for the community at all. He has only upvoted anyone other than himself and his friend Juno maybe 1% of his voting power ever.
@haejin has withdrawn most of his liquid Steem (until recently maybe..we'll see when it continues). He is not investing in the platform, so he will never disrupt any whale on Steem/Steemit.
He does not care for his followers, only molds them as good little cult children.
And yes, there are bad whales, and questionable whales, and ok whales, and great whales. But they don't keep 95% for themselves. Even the worst Whales end up spreading around more than 5%. And the best whales (@fulltimegeek) spread around as much as 90%.
So for as much as you bring up a few valid points, you are just as biased as I am. Your distrust or jealousy or hatred or whatever it is for the whales is as bad or worse than my trust in them(which aint much either.).
Good luck with your theory that @haejin is the saviour of Steem.