You are viewing a single comment's thread from:

RE: How should Steemit Inc decentralize their stake?

in #steem7 years ago

This speaks to the irreconcilable dichotomy of Steem as a global decentralized blockchain and Steemit as its first centralized proof of concept. Steemit Inc's stake exceeds over 25% of the entire market cap of the blockchain itself, for crying out loud.

Perhaps redistributing some of the SP in its possession to users of the platform contingent on their SP stakes will help level the playing field and mitigate the rewards pool exploitation that has been ongoing.

However, this issue is further exacerbated by Steemit's predominant influence given that the daily inflation of the Steem blockchain's currency is inextricably tied to content publishing on this site, irrespective of what other apps may be built on the blockchain. Perhaps in addition to a burn of existing SP, the inflation rate of steem should be reduced, to allow for systemic solutions to be implemented.

In my view, the erratic price fluctuations of steem in the market place and its diminished market valuation relative to other crypto projects which it has had a multi-year head start on demonstrate the market's unease and dissatisfaction about the direction of this site as its premiere proof of concept.