I think the original incentives with the high interest (closer to 100% for Steem Power) was the only reason people would power up. Now the only reason to power up is what? The Steem Dollar is useful but it's not promoted.
I guess I don't have high hopes for the economics of Steem as I see no source of revenue and it's operating at a loss.
I think the hyperinflation model was very problematic, but yes it was certainly sufficient incentive to power up
My point remains that the 15% going into paying 1.5%pa interest is silly and a waste of funds.
As to the platform itself, I think it's ok, facebook didn't post a positive cashflow until 5 years in. Currently it's revenue is its holdings alone, hoping to attract more users to get a higher coin price. Hopefully we can drive some of the inflation price into that engine.
I think with a strong user base, it can explore other forms of revenue seeking, while the coin price will remain a strong source of profits.
I guess you don't think much of my satire lol, you never reply to my silly articles :p
I agree but only because 1.5% interest isn't enough to accomplish anything in terms of incentive. It's low enough to be a joke of an incentive but high enough to be a waste.
As for your satire I have read and upvoted some of them but I don't usually comment.
Yup we're in complete agreement there
Ya I know, thanks dana, I'm only joking because you always seem so serious in all your posts and comments :) You're honestly like the most serious guy on Steemit though ^_^
Maybe you haven't communicated with Dan Larimer yet?
LOL ok I take that back, you have a sense of humor after all :)