Just remembered that I made this for fun back in 2017. Turned out to be quite prophetic. SMTs aside, when is the economic incentives fix? There's no mention about it at all in the recent development logs. Sorry, I'm just too consumed by this matter and everyday has been a living hell on this platform. I just don't post and talk about it everyday.
Steem has so much potential. In my opinion, it has been hijacked by the misaligned economy we currently have for the past, god knows how long now, 20 months? Insanity. To quote off a friend:-
"Even if they didn't agree with anything, they should at least agree that an economy that forces everyone to use voting rewards as staking returns defeats the purpose of the platform. And no, no preexisting 'businesses' on the platform that already rely on a failed economy is a good reason to maintain one."
"Good economic incentives can force bad people to behave well to prosper, while bad incentives can force good people to exploit."
"Only way to get this done is through Ned. Top witnesses are too compromised by stupidity and/or partiality to 'businesses' dependent on this failed economy. Block One votes on EOS. Steemit needs to know whats good for itself and dictate the rules or die."
Video source: How SMTs Add Value to Steem
Audio source: Frolic - Luciano Michelini (Curb Your Enthusiasm's theme song)
The problem here is: STINC is the entity that proposed and coded the protocols that broke the economy/incentives. I don’t see how they can improve things by controlling witnesses, as dumb and/or useless as many of those witnesses are.
STINC’s dictating of the rules brought us 75/25 post-curation splits (mostly 88/12 for the longest time), linear rewards, delegation, the too-low 10-vote daily target, and a variety of other changes that were unnecessary, untested, contradictory, and likely harmful.
And where is the innovation? Where is that “killer app” that Ned has talked about for three years? Where are communities that were being developed over two years ago? Where’s the mobile app that was being developed two years ago? Where are SMTs that were supposed to be launched in 2018?
Why are people still waiting on STINC to do ANYTHING AT ALL?
Where are the actual devs on this chain who can write new protocols or rewrite existing ones and submit pull requests? Where are the investors and economic literates who can help guide these devs? FFS...I know I’ve written lots of posts with proposed economic changes, as have many others. Are there any blockchain devs willing to write code based on those proposals? Does anyone care at all???
I mean, I think the answers are obvious. And I think the reasons for those answers are obvious.
This blockchain has been hijacked by hobbyist devs masquerading as businessmen, by the socially-impaired and unemployed masquerading as “curators” and “community builders,” by a schizophrenic man-child masquerading as a corporate CEO, by ass-kissing incompetents masquerading as witnesses, and by simple run-of-the-mill scammers.
Could the economic incentives be anything other than horribly misaligned? And who do you think is going to fix it? Who can fix it? Who wants to fix it?
Who will even acknowledge that anything is broken?
Ugh...now I’m just disgusted with this place all over again. Thanks a lot, KEVIN!
Hahhahah, Don't get us all triggered! The smaller your position and time spent here the less you will care. I have been rehabbing myself in this very way!
Haha. Very pissy.
Have you seen Drug Wars? Biggest dapp currently on STEEM and the devs look like they are 14 year olds that were hacking Fortnite 2 months ago and now are making a game.
The STINC thing... Sure, they are fuck ups, but the problem is that you dont really have anyone else to step in. Lets see what they do with MIRA, that looks like a good addition to STEEM.
The rest of the incentive stuff? Lets wait and see what Blocktrades DAO does. If done correctly and the author payouts are cut, youve essentially killed bots and changed the incentives pretty easily.
Wow! You sure are optimistic!
What’s your diet like? :)
Smurfs.... Twice a day.
No but seriously.. If you did do posts with economic proposals then do an analysis of what happens when you cut author rewards, and if you have curation rewards calculated to the sum before the beneficiary fee is payed out.
See what that does to the bots and vote buying..
Screws them up completely.
Changes the incentives greatly.
....permission to plagiarize the shit out of your comment...???? lolol
If I give you permission, then it’s not plagiarism. And what’s the fun in that?
Besides...all you need to do around here is change a few words and maybe reorder the paragraphs and then you’ll have a trendy trending post!
Dont forget huge vote buying. No post gets to trending without them.
....I did that as experiment once on here - on 3 or four posts (long time ago).
I found some posts I totally disagreed with, copy and pasted them, and then shifted a few words around to then make it my argument.
(ie the opposite of the posters).
....it kinda worked out well to, but I got bored...interesting exp. though!
What a wanker, you have no permission to give, you self satisfied steemit selling cunt!
!shit
Hey! I took a dump in your wallet! Take a trip to the bathroom to claim your worthless SHIT!
Hey! I took a dump in your wallet! Take a trip to the bathroom to claim your worthless SHIT!
Damn, bro. I feel like !shit now. :(
And bernie shit on you, and you enjoyed it, fuck me this place is disgusting, to say the least, keep it going for 12 weeks, so I can cash the fuck out of this shit hole you all made.
I think maybe you’re missing the humor.
I wasn’t withholding or granting “permission” for anything, as I don’t care if someone wants to copy my comment. I think that was clear and lucylin understood it just fine.
And the entire point about this SHIT token is that it’s worth precisely shit. We don’t need shittoken creation on Steem. The STEEM and SBD tokens can serve whatever purpose any business needs. It’s a waste of resources to create this exchange and the worthless tokens on it.
uhhh huh huh huh ... wanker.
LOL.....
uhuhuhuhuhhhh, hey Beavis
Kind of sums up why I do not give a flying fuck about this place anymore.
👍🏼
Posted using Partiko iOS
"Why are people still waiting on STINC to do ANYTHING AT ALL?"
If I had read this first I wouldn't have needed to make a comment at all.
Lately, I see almost no comments in my posts, but I am grateful when I get some as a sign that Steemit is still alive, as ultimately it seems to me like a cold and impersonal machine in which nobody reads anything, and there are only robots running programs of the financial compliance with profit.
We must not forget that the vision and mission is the creation of "good content" that would fulfill its financial goals.
It is good content, interaction, and discussion that create spiritual wealth that will justify the value of our token economy.
Steemit seems to be in the same state of Western society of profit politics, where nothing is manufactured anymore, and only financial speculation has been made, that has ruined the Gross Domestic Products of the Countries, with nothing contributing to them.
This Steemean economy if it continues to follow this path, will finish at the same dead end.
I feel that Steemit is fading by this sensation of dwelling on a phantasmatic planet of financial engineering motivated actors, in which people increasingly become bots with routines that do not generate wealth.
I confess that this inner feeling is demotivating me to write and even comment on other peoples posts.
I see more comments about financial transactions, paid votes and bots.
By the way, a friend of mine that was reading my posts on Steemit said that they are being used to make revenue stream of publicity for Steemit, and not for the users that attract the visitors with good content.
Someday they will sell our profiles too.
Maybe I'm hallucinating but I feel like approaching the deadly strategies of mainstream social media
Cheers my friend.
The video is quite funny. :)
!dramatoken
Here is a shit coin and it doesn't matter whether or not you have any GAS. ;)
You can claim it on Steem-Engine.com. Most of us have quit worrying about what Steemit Inc will do... Because we already know.
LOL what can i do with a drama token? hire racketeers?
Those who hold 10 DRAMA can call the bot to issue the new supply. Hopefully to reward a bit of drama.
When they distribute it (curate drama) they receive a vote from the account. Currently worth about .04 cents.
They are trading on Steem-Engine for about .9 Steem.
Mostly it is just a fun project with enough value built in to distribute tiny amounts of Steem and pay curation efforts of those who have eyes on the site.
The intent is mostly engagement, entertainment and enough value to not just be spam.
Basically, it does about the same as Steem. ;) With a heavier weight toward's curation. However, only manual curation.
Have a great day!
Let me know if you want to delegate and I'll send you some DRAMA in return. lol
Here's your
DRAMA. Don't spend it all in one place!To view or trade
DRAMAgo to steem-engine.com.I've been wondering myself what happened to this issue, it's the elephant in the room for sure.
I think those at the top forget how shitty it is starting out poor on steem. Once you have 10K steem, let alone 50-100K you do 'ok' on here and it's easy to loose perspective on how broken the rewards system is.
Ironically with the people with the power to change anything it's a case of big fish small pond, so nothing changes.
Time to prep impactful arguements to be launched at the nadir of the next crisis maybe?!?
Steem's got no long term future with its current rewards system. However we should take some comfort in the fact that its muddling along at all!
Posted using Partiko Android
but..but....but....(whispers) code is law....
That hurt giving this post a deserved full vote. oh well exploit again tomorrow
2019 Still no SMT and legit millions of dollars wasted. Still no ad revenue just a sinking ship of them selling steem month after month.
5 value flows? I heard one Bandwidth am I missing something here lol
oh the full vid is in the footnote
We can all agree on one word. Squandered
That is why we are leaving and the same 50 or 60 people will continue to drain the system. Slow clap for STINC
🙌
I beleive that steemit and steem is moving in the right direction for now, because we are experiencing alot of dapps integration into the blockchain and I am fore seeing SMT been launch sooner and also a market for trading on these SMT tokens as well
Manh, now I get the Jesus dp.
I think that one element in all societal/money systems that will always lead to its demise and fall (As every currency has failed) is the element of the human animal. The desire to succeed at any costs still is latent in all humans as they are sentient versions of any mammal out there that will do anything to survive, but with hands, internet and a consciousness...
I love Steemit and worry about it and also know that 'the powers that be' will not want any currency to go against their hieracrchy and if they have the 'money' to infiltrate any new form of money with 'people' they will succeed until something outsmarts them or outbuys them...
Interesting experiment this human race, eh? @kevinwong
Highly rEsteemed!
I'm thinking in a new proposal to add to your 3 points:
Introduce negative delegations.
Suppose that you don't like bidbots. Then instead of creating a bot to flag all posts voted by them, you give a negative delegation, meaning that their vote value will be reduced a little bit.
So, it is like a flag, but in a big level. In this case, you don't want to support all the actions of a specific community or user, similar to when nations put sanctions or fines.
The point to discuss is the level of subsidy of these negative delegations.
Only a "money miss road" will do that. Since he or she won't care about ROI. We don't call people like that Good Samaritans. They're called idiots.
I was thinking in something like this but for delegations.
I mean, with the flags are the same, you don't get curation rewards by flagging and this is the reason @kevinwong is proposing subsidy downvotes. You can do the same for negative delegations.
Buenas noches @kevinwong deseo que se encuentre bien , lo felicito por su gran trabajo en esta plataforma , exelente post y que tenga una exelente noche.
The ecosystem is doing well and we have many great DAPP. :)
Posted using Partiko Android
Steem does have much potential. It just needs a break. Yeah indeed prophetic but I caught that background music. Thanks my friend @kevinwong
we must maximize every advantage,
It amuse me also that the way the smt stuff is been annoumced and announced on steemit months ago is no more. It seems there is no mention of it again. Probably maybe because of the introduxtion of steem engine who knows
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Thank you Kevin, great post!
Resteemed...
DITTO...'Ten Fold....'
You got a 85.84% upvote from @ocdb courtesy of @kevinwong! :)
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I'm very interested in this topic but the music in the video is so loud I can't hear what you are saying!
!sneeze
You have been infected by the King of Disease!
Will you quarantine yourself?
Or will you spread the plague?