RE: Falling STEEM/SBD Price - Proposed Solution to the SBD Debt to Marketcap Ratio Problem

[timcliff]

I am going to start a new thread here so we can keep nesting..

Out of curiosity, if the whales stopped voting it would basically be up to the 'dolphins' as to who got all the votes. What is to say that this group (and the minnows who now also have more power) would do a better job promoting content that was in the platform's best interest?

Also, your argument about STEEM crashing is also not necessarily true. Bernie and all the other whale's shares today are still worth more than they were before the July price spike.

Comments

[timcliff]

because there are only 30 whales, while there are about 1.000 dolphins and thousands of minnows; it's the principle that makes the free market work and why socialism always fails

If we were at the point that the product was about to officially launch and move from BETA to mainstream users - and we were still at the situation we have today with 30 whales having 90% of the influence and average users having no say, I would probably grab a pitch-fork and join you on your crusade.

With where we are today though, I believe their goal right now is to find users that will make good dolphins and get them to the point that they can be the ones holding the power once the site is ready to go mainstream.

and yes, the next problem is indeed the artificial inflation, that would be the next problem to needs to be solved

Yeah, there are a few threads on that this morning. I'm still not convinced that is an issue either :)

[timcliff]

Upvoted this one at 100% because I feel it deserves it :)

Do you have Nextflix? If so, you would probably really enjoy an episode of "black mirror" called "nosedive". I think it does a good job highlighting some similar issues to what you have with Steemit, as well as gives a good example of someone going off on the system and being 'voted down' by those in power. If you check it out, let me know what you think :)