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RE: STEEM Economic Changes Update (@officialfuzzy's thoughts & concerns)

in #steem8 years ago

This completely voids the contract for people holding steempower

How does this completely voids the contract? The contract was that steem power holders are going to be debased by roughly 10% every year and that their steem power will give them influence on the platform. The new changes will not modify any of these properties, actually steem power holders will be debased a lesser percentage with the recent proposal ( around 8.5%) because witness pay was reduced which means a higher percentage of the inflation is going to go to steem power holder. So the proposed changes is actually more benefical for steem power holders.

thus alienating the types of people who do not want to be in an ecosystem where there is little benefit to longterm thinkers.

Longterm thinkers had no benefits in the first place. The current system has deceived many people into thinking that steem power holders had any kind of financial rewards for being powered up when in fact their money was devalued at 10% per year.

Changing contracts is perceived by many as "scamming"--see Tone Vays comment above

Tone Vays started criticizing steemit very early on, before steem did any significant change. His main reason is that steem is hyperinflationnary and he was right, a system in such environnement can not be sustainable.

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Though from a logical dtandpoint you might be right, there is a bit of a history of bigchanges that might not be necessary that seem to come out of the blue and scare people who got into crypto because they were no wanting banks tochange the rules on them overnight. So i look at this as an economic isssue to be sure but i am more qualified to speak up and say lets not gowith surgery first because we know what problems it has caused in the past.

Maybe my concerns will be proven unfounded. Perhaps it will happen. Id prefer it actually. But i do have concerns how this will be seen.

People say to ignore fudders and they are right to an extent. But FUDders are negative marketing people and their effect is real. So unlessswe want to swim upstream these decisions need to take that into account.