Your "Nuts and Bolts" approach to the problem is great! I think a lot of what you say above in the article is positive, and should be a good template for future STEEM-Growth and lead to expansion of all Steem-Based platforms! BRAVO!!! 🤩
In theory, if Steemit was a mainstream platform, in which many minnows had enough Steem Power to cancel out whales, then I think Steemit would work.
THIS IS "In Progress" 👍 (more below)
The reality is that the distribution of Steem hasn't been fair at the start which has given large sp holders more influence than intended.
Sounds like Pure 💩 to me... pardon my French ;)
Everyone on Steemit now could have joined SOONER, and bought their stake at prices LOWER than Steem is now. I kick myself for getting into some bad deals in Crypto, where at the exact same time I could have bought a literal ORCA Stake for the BTC I was pissing away at that time. Whose fault was that???
MINE and Mine Alone! 😬
OVERALL, Great post, but lamenting about Unfair Distribution is a total waste of time. (you seem to just mention it and go on, but I state this for the other readers) In fact, that "situation" is reversing itself as we speak. Whales are selling at relatively cheap prices, and we Dolphins and smaller fishies are gobbling it up as fast as we can. Hence the prices oscillating between low 80¢ range to just under a dollar. Great deal for the whales, orca and such whom most of which got in in the single digit ¢ent ranges, that I just missed [grumble-grumble]
The "unfair distribution" is fixing itself, in part. Do the rest with the outline above and I think we'll have a WINNER!
Cheers!
-Undy (who just missed single digit-steem prices)
At the early start Steem could be mined which gave early miners huge influence. The effect is still felt today in what I described in the post. And I wouldn't be so sure that it gets better, the big stake holders still get most from delegation to bid bods and get most of the curation rewards.
Ok, that is factual. But even a bigger waste of time lamenting the fact! You stated it an moved on, which is great. Makes your other moves even more bold and decisive, working on a platform that has such an infrastructure in place.
This "Early Edge" has led a lot of folks to blog about those events, and call the whole thing a Ponzi Scheme. Unfortunately… Thanks for the reply, gonna follow this effort and see if I can muster up some support!
Regarding "Getting Better" there are (reportedly) lots of "whales powering down", Ned was rumored to, Jerry Banfield, and others. I have not looked at this claim, but market actions seem to lend credibility to that theory. IMO, that creates cheaper steem which is a good thing, and we can grab it. ;-)
I hear SALE! ;)
"Limited Time Only!" 😎