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RE: An Open Letter To @elipowell

in #busy5 years ago

I completely agree that modest 5k delegations would enable dramatic increases in retention, distribution, and general improvements socially. I don't think whales want to do those things, which is why they don't do them. As you are keenly aware, stake is highly concentrated on Steem, and profiteers use their stake to extract the vast majority of rewards.

Increasing distribution is reducing whale ROI, it's just using different words. While there has been a gradual reduction in concentration of stake over time, due to whale selling, delegation would impact their ROI significantly and not provide them compensatory USD (or their preferred token/fiat). The market Stinc serves is not redfish, who have but little economic power, but whales who have almost all of Steem extant. Financially harming the whales will not prove economically beneficial to Stinc, and anyone that has pissed off the market for their product, whether as an employee or business owner, knows exactly what happens as a result.

One is soon looking for another market to serve.

The reason this would be a very beneficial thing to do for Steem is exactly why it's a bad thing for whales, and they are the deciders.