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RE: HF21: SPS and EIP Explained

in #steem5 years ago

"Steem's economic model is broken."

You are why Steem's economy is broken, and are the best example of that malfunction. You extract it's value for your personal profit before the economic activity and infrastructure can produce capital gains.

"And regarding taking from the reward-pool: the majority of it isn't being utilized effectively."

Less than ~10% of the rewards are reaching the intended destination of rewards: content creators. Almost all rewards are being extracted by manipulative financial mechanisms, and end up in the wallets of whales. You are the niche group 'doing something', and the something you are doing is preventing capital gains. The whales are cutting their own throats by concentrating all the value of the economy into their wallets, each to the maximum degree possible. EIP is a set of mechanisms to increase the rate of extraction of value before it creates capital gains. Halving author's share of rewards and instead delivering twice as much to those extracting it with the weight of their stakes, increasing the exponential power of stake with the modified rewards curve, and availing free flags to flaggots censoring creators that returns rewards the community sought to provide them as incentive to the rewards pool, where you can extract it instead, all increase the rate of extraction of rewards by stake weighting, and suppress capital gains.

You and your ilk are doing so because you can simply move on to the next victim once you've drained the host economy of the stake you extract. Steem will be a corpse, drained dry by your parasitization, left to blow away in the winds of avarice, leaving the gems that could have instead have been nurtured by substantial stakeholders to create capital gains for all investors; censorship resistance (in a world more silenced every day); one of the best blockchains ever written; a currency model that made transaction fees obsolete and proved microtransactions not only viable, but scalable both globally and fiscally, and a social media use case that could have leapfrogged every business model extant - had you only been willing to rely on capital gains for your ROI.

Should Steem somehow remain viable after you profiteers have moved on, perhaps the remaining users will be able to implement sound policies that encourage investing for capital gains, and then be able to grow instead of feed parasites.

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