So is this situation, or loop hole, or whatever you want to call it, being looked at by the Steemit developers? If it threatens the longevity of Steemit or harms the platform- then shouldn't the programmers fix it?
I admit- I do not understand the math, etc.. but this seems like a loop hole that should be fixed.
Thanks for the heads up.
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I agree, the Steemit (okay, we should probably say: Steem. It is the programming. It is the blockchain) developers should be watching this and doing something.
So... is it a loophole?? Maybe sorta. Steem is programmed to give SOMETHING from Nothing. It works that way for you and me. We have nothing or gave nothing into the Reward Pool, but we get Steem from the Reward Pool for our activity here.
Now, it is SUPPOSED to be, that good, smart people will only select good Posts and Comments to reward. But People are never perfect. ANd some people let GREED rule their actions. So they give only what will benefit them or their friends. Many Steemit users "Abuse" the system by voting for their friends or themselves EVEN WHEN there are other users doing BETTER work. But most Steemit users that abuse the system do it with some "CONTROL" and try to not make it too obvious. They limit their GREED somewhat because they know the community is watching.
But what do you do when the Steemit USER has SO MUCH Steem Power and doesn't care what the community thinks? You get abuse like Haejln is doing here.
And this is dangerous. Because RIGHT NOW Haejln is making much profit off of Steem/Steemit. But if he continues, or if more whales start to all do the same thing, then it WILL Ruin Steemit, and maybe ruin Steem too!!
To answer your question.... the answer to this problem was written into the code already. It is the FLAG function. Steemit and Steem is not broken or have a loophole.
Steem was written as a COMMUNITY BASED BLOCKCHAIN. The community can and is supposed to regulate the Rewards in a way that is beneficial to EVERYONE. ----->THE STEEMIT COMMUNITY has had the FIX (the solution) the whole time. We will see today, if the community will stand up and use the Flag function to stop the abuse or not!
I am standing. Let us hope that many, many more are also.
You are completely ignoring that those 'greedy users' are those that get the most rewards: the whales. Not just @haejin, who became a whale using the very tactics the whales are using to maintain their control of the rewards pool.
The whales.
@haejin should be your HERO, who has forced the whales to give up 5% of 'their' rewards pool to a minnow. He should be an example of how to democratize the rewards doled out on this platform, so that the 1% aren't getting 99% of rewards here.
Do the math. The whales get 99% of rewards, leaving ALL the minnows 1% to share amongst us. The median payout is .01 SBD. @haejin's rewards are maximally 5% of the pool. That decreases the ROI of the 35 whales by 5% (our 1% is negligible to them).
Were @haejin to quit posting, that 5% would return to the pool, where the whales would take 99% of it (or do you expect them to dole it out to minnows in a completely new program of upvoting minnows?), leaving 1% of 5% of rewards to be shared amongst the tens of thousands of minnows.
1% times 5% is .2%. How much does that affect your rewards?
None. You won't even notice. The median payout is .01 SBD. How much is .2% of .01?
Zero, +/- a rounding error--that is how much @haejin is affecting you, while forcing the whales to share the rewards pool with a minnow - he came up from nothing.
Thimk.
You know nothing of what I am and am not ignoring.
@haejin is the abuser that is being handled at the moment.
After this situation has been righted, more problems will be addressed.
And Steemit members with 5000 SP or less are getting more than 1%, sorry. Whatever calculation or post you read that said that was wrong, old or biased.
Thanks for contributing solutions and not just whining and being a negative nelly.
Please share your data.
I'd love to be wrong about that.
My data begins several months ago, and I have been attentive to such posts as I saw regarding the matter, without seeing any indication that the situation had improved. Here's a chart from just prior to HF19:
I showed you mine. Please show me yours.
Where does the chart say 99% or 1% or anything? It gives no percentages.
And from 4 months ago... who knows. But Fulltimegeek's stewards of gondor initiative alone it had to have made a difference of more than 1% straight up transfer into minnows accounts. SOG only ended(was suspended) 12 days ago. Payouts for the last of their effect just finished maturing 5 days ago.
Show me recent data. You made the claim. Show me yours.
I asked @fulltimegeek or @abh12345 (don't remember which) if they had any data regarding the impact of the delegation effort, which I totally and completely support to this day.
I don't recall a response with data coming from that query.
I have repeatedly, as I stated, requested a similar chart
of recent data from @arcange, and not received one.
I am not competent to troll the blockchain for the raw data.
I responded to your statement that 'folks with under 5k SP get more than 1% of rewards.'
The chart very obviously shows that the vast majority of Steem, over 99%, is attained by a handful of accounts.
It is dated, but I have not been able to get new data.
You made the claim that I was not correct, and I supported my claim with data.
Either support your claim with data, or fail to support your claim.
That's how it works.
Science!
To the facts:
(sorry, opinion here: YOU have wasted my time. You portend that you are a facts person that cares not for money or its value on this platform, and yet mostly only posted pseudo-facts. Even your use of Haejin upvoting you does not DISPROVE my assertion that he has helped/upvoted minnows 1%. 10 -100% upvotes everyday for 100 days vs 1 ??? % upvote to one minnow to negate a flag. Doesn't make his contribution greater than 1%.)