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RE: STEEM Price Analysis – June 19, 2017

in #steem8 years ago

I'm not at all excited about the hard fork tomorrow. I think there have been and continue to be too many changes to the economics of the platform and that these changes come in packages that are too large.

I see no point in changing the vote target from 40 to 10, as it doesn't appear to address any problem or flaw in the system or curb any identified abuse. I think the unintended consequences from this change could be far more detrimental to the economics of the platform and the behavior of users than just leaving the vote target alone.

I also don't think that a completely linear algorithm for rewards was necessary, but I'm not as opposed to that change. I have advocated a more linear curve for some time now.

What effect will it have on prices? I can't really say. But if a lot of whales or dolphins don't find it beneficial to be as active as they have been, we could see them dumping a lot of their accumulated STEEM. I happen to think that a lot of larger accounts will simply return to voting with their full weight and crowd out a large portion of the user base, just as we had seen prior to "the experiment." So, the net effect of this "equality" hard fork (which is a BS term if I've ever seen one) will likely be less influence for minnows, not more, even with the 4x voting power scheme.

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Reduction from 40 to 10 is very damaging for the little ones .... Too many changes on a platform that is already complex, not a good thing, I agree with you ... @ats-david But I want to be positive! We hope well...