I'm often reading posts complaining about how the whales have too much power and need to be nerfed. They put forth various ideas on how to limit the voting power of whales and make the system more "fair".
There are other social platforms that are more fair. Reddit is fair. Everyone gets one vote, up or down, so why aren't you there instead of here?
Oh that's right, you're here for the money.
Well, where does the money come from? Does it come from money heaven? Raining down like manna? No, the value of the payouts is derived from the large sums of money that whales have pumped into the system.
Every time the network pays out 25 cents to a poster, that value is siphoned from the accounts of all the Steem holders, whether they voted on that post or not, via the magic of the inflation tax. Those who hold the most Steem Power (i.e, the whales) get the most power to decide who gets to extract this wealth indirectly from their coffers.
Those who are risking the most get the most power to decide how the system is used..
And this is perfectly fair!
Fortunately, I'm pretty sure the devs totally get this, and are unlikely to implement any limits to Steem Power. If they did, then everyone would power down and money would flee the system, and there would be no money to grant to posts.
I agree with you! Steemit IS fair right now, everyone has the right to buy themselves more power. Furthermore most talented writers get most power by earning. I'm not a whale, I'm objective. I'm so interested in decentralized blockchain technology because it is fair, socialism is a form of dividing wealth in an unfair way an makes an economic system less efficient.
When you start to complaining everydays you get yourself emotional down , and motivations even worst drop .
Stop complaining and start showing that you can make better thing , make your own brand sooner or later somebody will notice your voice and give you some rewards , not everyone lucky as others like introduce post. You failed once doesn't make you a failure for all the rest of your life .
Don't give up , be yourself think something bigger to wrote .don't blame whales for being a jerk they have money that what make them "whales" and you dont have the money that make you a minnows .
Stop complaining and start proving you're good enough to earn more money here
Don't complain about whales, try to become a whale!
:D . If you don't have the money to be a whale then work harder to earn your title being sissy won't make you become one .
Here, I fully agree with you!
https://steemit.com/steemit/@vlad/steemit-5-years-later
I couldn't agree more neo. Excellent post stay awesome.
Real talk right there, great perspective. Bravo!
Supported @neoxian 👍👍👍
That's is correct that $$$ is siphon out.
🚀🚀🚀
@neoxian Where's my divident? I gave you the idea for this post didn't i? ;)
There's your dividend.
haha thanks.
By the way, that costs you nothing (except for the negligible voting power reduction). I find that weird, right now we can just spread around our voting power any way we want without consequences. Let's hope the whole system will be improved in the future....
Didn't you read my post? I've allow the system to extract 41 cents of value to you, some of that comes indirectly from my pocket via inflation tax. Study economics my friend.
Yeah but dude, you gave it to someone else. What i was talking about is that being able to give it to yourself is what's fucked up.
Ha ha ha
Lmao
@neoxian direct hit on the nail
👍
I touched on this a bit in our podcast. The people who built this place didn't build it to smash it with a wrecking ball. The actions they take should be viewed from a marketing perspective. Think about who they upvote and why. Notice how a lot of the big WTF success stories going on right now are because those authors have a MASSIVE following on other platforms, which is like finding an unclaimed oil field if you can get a good percentage of that following to come over with their "celebrity".
Yes! It's kinda like a corporation with their shareholders, right?
Except that it's not using the investors money to build a sustainable profit. The investors' money is the profit.
I have only been here for two days but I am also irritated by these sort of complaints. As well as calls for censorship and banning. isn't one of the main features of a platform like this the fact that it is censorship resistant? As Noam Chomsky says 'If we don't believe in freedom of expression for people we despise, we don't believe in it at all.' I think people really struggle with the concept of immutable data.
Check my Blog @bullionstackers
There are How & Why, censorship applies.
This Social media are for everyone.
Doing a wrong thing may result banning.
Please understand the platform.
Hi, I read your blog. It is my understanding that banning is not possible on steemit. It is currently a censorship resistant platform by design. Correct me if I am wrong.
You are right.
By flagging makes yours posts lesser visible , also will reflec on the one reputation (-)
I don't do flagging not my jobs but others will.
Wash , Rinse & repeat if not success
That's it, I'm calling my Congressman!
we all need to be whales and power up. comment more and earn more. provide quality content. add some money from paycheck the more SP you have the more power and more SP you can get and then Power down. welcome @mrsteemitbwhale
:O a whale thats not powering down how strange... The top 3 whales @steemit @ned @dantheman (owning 67% of the steem marketcap) are all powering down for some reason idk why just an observation.
Some whales will power down, they have their reasons. Other whales will power up. Hopefully more whales (and all fish) will join as the Steemit grows larger.
You know, not every argument for altering payout weightings is political.
Rewards drive content creation, content adds value. It's similar to the velocity of money argument. Pay a minnow $1000 he'll probably go and write 100 more articles. Pay a rich kid $1000 and he might do two or three more posts before he loses interest.
I don't know. I don't want to get involved in hysterics, and I don't really care either way.
Ned and Dan own the site, they can do what they want with it.
Nobody cares if you power down. It'll take two years for you to throw your toys out the cot.
Why don't we just pay $1000 for a good post and not worry about who wrote it?
Because given the choice between two equally good posts, it's kinder to award your vote to the person with the greatest need, where it's going to have the largest effect.
Do what you want, I don't expect my opinion to change anything.
I just prefer to help the little fish.
Hi @neoxian
When the useful posts...
Comments referred to the Vote, Vote is called a comment, same as above
If there is even the chance, is it posted to me to prove that there is a chance.
I don't know, I'm sure @berniesanders wouldn't mind a little more socialism :)