From steemd I can see that rancho started doing most of his buys in late may/mid june 2017. He's made a fraction of the initial investment back in post rewards.
Honestly I don't see what the big deal is. I'm presuming they weren't buying when the prices were in the single digits of cents, or they would have been using that account earlier.
Not many people have the balls to go into something like this for a million+. The fact that other people were selling in order for them to accumulate this makes this all just a big joke to me.
I have more of an issue with the chosen few who got their stake without having to put any money in. Just be a part of the inner circle of the BTS/Steemit/EOS mega circle-jerkers' club and they'll probably throw you a few bones is how these coins seem to operate.
Dudes spent over a million to get back about 300,000 when they easily could have just kept it liquid and made 10 million at the peak, or several million before or after that point in time.
And I don't want to point out the obvious, but everyone who runs a bot voting service has a motive to shame self-voting, even though it's a perfectly acceptable use of stake.
You might as well say it's whales vs. Steem. @haejin is just using the same tools all the whales have been since they mined their stakes before Steemit was public. Whether @haejin gets 5% of rewards, or the other whales keep it for themselves, it doesn't get to us minnows, who receive ~1% of rewards.
I consider @haejin's selfvoting great for Steem, because if his depriving the other whales of 5% of their take from their circlejerks, selfvotes, and votebots/delegation fees, doesn't prompt change in how rewards are allocated, then nothing will.
@haejin isn't the problem. The concentration of rewards in the accounts that already have the most stake is. The problem is stake-weighting, and that degrades society by enabling money to control speech on Steemit, just like it always has, and now more than ever, in the real world.
Rewards don't need to be stake-weighted to have all the good benefits they do, such as encouraging creators of good content. 1a1v will do that just fine. The only thing stake-weighting does is make profiteering more attractive than investment.
SOC (SMTs, Oracles, and Communities), when and if they arrive, will make it possible for communities to enable 1a1v, as well as allow the extant stake-weighting profiteering model Steem has.
Which do you think will be adopted by minnows more, when SOC makes it possible to choose?
I'm looking forward to the end of profiteering on Steemit. I bet retention will increase by orders of magnitude in those communities that prevent profiteering by the wealthy.
Communities is surely going to be very useful for everyone. I've seen that most people tend to stick with authors they know and since early adopters have lots of STEEM with them, even out of the quality content creators, the older accounts are getting most of the rewards. There is nothing wrong with their earnings. It's just an uphill battle for a new account to gain visibility.
Or is it a flawed system that needs fixing?
Or is it like the early days of prospecting?
The gold was plentiful in them there hills
but those days, they ain't coming back.
Back in my day, people had to pan by hand
with blood sweat and tears. Nowadays it's
the machines doing all the work. Lets just
live and let live people. We don't get all up
in peoples wallets in real life. It's unnatural.
From steemd I can see that rancho started doing most of his buys in late may/mid june 2017. He's made a fraction of the initial investment back in post rewards.
Honestly I don't see what the big deal is. I'm presuming they weren't buying when the prices were in the single digits of cents, or they would have been using that account earlier.
Not many people have the balls to go into something like this for a million+. The fact that other people were selling in order for them to accumulate this makes this all just a big joke to me.
I have more of an issue with the chosen few who got their stake without having to put any money in. Just be a part of the inner circle of the BTS/Steemit/EOS mega circle-jerkers' club and they'll probably throw you a few bones is how these coins seem to operate.
Dudes spent over a million to get back about 300,000 when they easily could have just kept it liquid and made 10 million at the peak, or several million before or after that point in time.
And I don't want to point out the obvious, but everyone who runs a bot voting service has a motive to shame self-voting, even though it's a perfectly acceptable use of stake.
You might as well say it's whales vs. Steem. @haejin is just using the same tools all the whales have been since they mined their stakes before Steemit was public. Whether @haejin gets 5% of rewards, or the other whales keep it for themselves, it doesn't get to us minnows, who receive ~1% of rewards.
I consider @haejin's selfvoting great for Steem, because if his depriving the other whales of 5% of their take from their circlejerks, selfvotes, and votebots/delegation fees, doesn't prompt change in how rewards are allocated, then nothing will.
@haejin isn't the problem. The concentration of rewards in the accounts that already have the most stake is. The problem is stake-weighting, and that degrades society by enabling money to control speech on Steemit, just like it always has, and now more than ever, in the real world.
Rewards don't need to be stake-weighted to have all the good benefits they do, such as encouraging creators of good content. 1a1v will do that just fine. The only thing stake-weighting does is make profiteering more attractive than investment.
SOC (SMTs, Oracles, and Communities), when and if they arrive, will make it possible for communities to enable 1a1v, as well as allow the extant stake-weighting profiteering model Steem has.
Which do you think will be adopted by minnows more, when SOC makes it possible to choose?
I'm looking forward to the end of profiteering on Steemit. I bet retention will increase by orders of magnitude in those communities that prevent profiteering by the wealthy.
We'll see.
Communities is surely going to be very useful for everyone. I've seen that most people tend to stick with authors they know and since early adopters have lots of STEEM with them, even out of the quality content creators, the older accounts are getting most of the rewards. There is nothing wrong with their earnings. It's just an uphill battle for a new account to gain visibility.
Or is it?
Or is it a flawed system that needs fixing?
Or is it like the early days of prospecting?
The gold was plentiful in them there hills
but those days, they ain't coming back.
Back in my day, people had to pan by hand
with blood sweat and tears. Nowadays it's
the machines doing all the work. Lets just
live and let live people. We don't get all up
in peoples wallets in real life. It's unnatural.