So I think I have to start with somewhat of an introduction. I am, like many fellow Steemians, interested in cryptocurrencies and therefore follow a number of Crypto Youtubers. The two main channels, I follow are DataDash and CryptoInvestor (@cryptovester here on Steemit).
I value both for diffenrent reasons. DataDash makes good market updates and gives basic technichal analysis on the top 6 cryptos, while @cryptovestor tends to dig deeper and puts the price action in perspective to the actual value perceived by him.
@CryptoVestor recently published this post:
https://steemit.com/raiblocks/@cryptovestor/why-raiblocks-will-end-as-a-pump-and-dump
Heres the TLDR of his post;
Raiblocks will not replace BTC or ETH, becuase the No. 1 problem of cryptocurrencies is not scalability but adoption. BTC, ETH will fix their scalability issues eventually. Raiblocks will not have any fiat onramps just like steem and bitshares, which have also have no issues with scalabilty. The hype around Raiblocks is therefore irational.
This post is currently hidden because it got flagged. And here's a comment by one of the flaggers @donaldtrump:
Downvoted for a lot of reasons. I'm going to lay those out.
First of all, though, I didn't mean to nullify your rewards. That was an accident. I didn't realize I packed that much of a punch. But this accident is going to underscore the prelude to my critique.
See I just downvoted you with about $2M of steem power. I didn't even know it had this valuation until I looked tonight. What does this $2M represent? The steem power of my accounts amounts to a clerical error on my part when I powered down "all" my steem last year, in an effort to dump steem and move from this platform. What was left was the steem power in this account and a bunch of others that were too small to trouble with. So I didn't bother powering all this down and am letting it sit, for no other reason than I have more important things to do.
Yes I'm bragging. I'm bragging because I am a badass trader and know what I am doing. $2M in steem accounts is an afterthought for me.
Wrap your mind around that for a moment. It is literally an afterthought.
Now, what does this have to do with the point I will make here? It means that if you want to compare your "cryptovesting" to mine, I will wipe the floor with you. I am a badass. Ask anyone who is in my trading groups. And ask them how long ago I was hyping raiblocks to them, and what price it was.
Now, the reason I down voted you to "oblivion" is that your silly post about raiblocks is completely misinformed. You don't know what you are talking about. At. All.
First, you have the ignorance to claim that steem is a potential solution to the scaling problem. It isn't. The only way steem is a solution to anything is to remove the constant sell pressure caused by the reward pool. The pool is poorly conceived, and its flaws have never been addressed, and never will be. With steem's economic problems, it will never be a solution to the scaling problem or anything else.
Second, you claim that scaling isn't even important. I promise you that you are 100% wrong. It is ALL about scaling. For crypto to be relevant, it has to provide a global payment solution to compete with the centralized services that you claim are superior.
They are not superior, by the way. They suck. They suck because they revolve around an entrenched system of exploitation. They stem from inflationary monetary policies that funnel wealth to the already powerful. Every centralized exchange and bank is an agent of a centralized government, and these governments exist to transfer the fruits of economic productivity from the populace to those who control the money supply.
Now, in terms of scaling, bitcoin is unusable as a payment system for transactions less than about $500 right now, where the high speed fee of 10 USD comes out to a 2% surcharge. Bitcoin can't scale in its present implementation. Ethereum can't scale either. It can't even keep up with cryptokitties.
The only coin you mention as a potential scaling solution is bitshares.
Third, and worst, your post is cynical bullshit. Any idiot can be cynical and disparage a cryptocurrency platform like raiblocks or any other coin. The problem I have with this cynicism is that you have absolutely no balls. You are a chicken shit negative ninny, and your argumentative strategy reduces to unfounded name calling ("pump and dump"). This is why you deserve a huge downvote. And that's what I did, partly by accident.
At first this reads like a comment from a butthurt troll. However this post DID get "downvoted to oblivion", so for the sake of this arguement I am going to take his word for it.
So I replied with this comment:
And here's the big problem:
We have a situation where one or a few wealthy indivuals are capable of silencing opinions and people. As far as I am aware there's no way to hold these people accountable, because it's impossible to track downvotes. And furthermore there's no system in place that allows to report malicious flagging. It could be argued wether the impact of flagging should be determined by the amount of Steem Power in the first place.
So my proposal is to either reduce the impact of SP when flagging or remove it altogether and make it purely based on the number of downvotes.
I would be happy to hear your thoughts on this issue.