Good analysis. Yes, steemit has become a tight group of circlejerkers. The proposed system is to have the whales vote for orcas who in turn vote for minnows- votes with power are spread out and everyone has a chance to grow. Unfortunately, the whales vote for orcas and those orcas turn around and vote for other orcas or whales. Its a big circle and only small dust gets to the 90% bottom group... hmmm, can we say ponzi?
Or more like a free dice toss... what new users are going to want to fight for pennies? When its clear that certain special people get 100$ on stupid infomercials. Im so sick of the trending list, i dont even read or vote most of that crap. I typically search for rep level under 50, because these people are actually putting work into something that barely anyone looks at.
Its a sad reality. Im pretty successful trading cryptos because im good at seeing the failure before it happens... the writting is on the walls. I personally wouldnt invest, and i dont see why anyone would.
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I have rep over 50, but less than $200 to my name. Rep isn't indicative of the money earned. :-) And I do put in work into what I post.
Um yes, reputation is very indicative of the money earned... people randomly vote for higher rep because there more likely to be upvoted by a whale.
Low rep people are mainly passed over.
Quality doesnt = money
If the system was good people would be piling in by the masses. Comon, you get paid to blog- this shit should be viral and everyone +grandma would be using it. Instead everyone is leaving because of the pathetic circle jerk that is clearly obvious, even new users see this right away.
You seriously look at rep before you vote? That makes even less sense than voting solely on number of votes a post has.
What I am saying that rep is NOT indicative of the money earned. Or at least there are edge cases, where it is not.
That's what I've noticed, and it's keeping new users from staying. As soon as they figure that there is voting bias, they leave. Permanently.