The problem is that votes then become mere financial tricks, not promoters of good content.
Those with the most Steem didn't get it by being upvoted. However, they profit not only from capital gains on the appreciation of Steem as Steemit grows (by rewarding good content), but from drawing down the rewards pool when self voting.
This is double dipping, it's unnecessary, as traditional stock investing shows by being nominally profitable, and it directly decreases the ability of ordinary people to curate content for the reasons the rewards pool is stated to be for. The ability to suck more from the rewards pool because one has a larger stake in Steem is counterproductive to Steemit.
Capital gains is a thing. It is nominal.
@dan has a grip of SP. He can dominate the rewards distribution. He doesn't because reasons.
Prior to HF19 99% of author rewards inured to 1% of accounts. I don't have a more recent chart, but wanna see it. I'd like to know what impact the fork has had on curing the symptom of the problem of inequitous distribution of the commons.
I'm sorry. But basically. This is fear mongering. If someone has planted this fear in your head, go find someone else that actually knows what they are talking about.
Stop talking. Start asking better questions.
And this is in no ways or means a normal stock market. Don't go there.
Go out visiting the Steemit universe, you'd have some really good ideas how people are being affected. Let go of the graphs. Go visit the people. It will do you a world of good.
Ok. First, you have said to 'let go of the graphs', which means to ignore the actual data. Second, you told me to stop talking. Third, you told me to not make arguments that compare traditional capital gains based markets to Steem. Fourth, you implied I am a shut in without friends. Fifth, you accused me of 'fear mongering', without any basis that I can see.
I'm just curious: do you have any substantive arguments, or is ad hominem the extent of your ability to respond?
First off, you said you are displaying stale data. You called it irrelevant.
Yes, you need to go ask better questions of someone who has a lot more information. Until then, yes please stop. You're missing vital info. You're making people unnecessarily afraid.
Yes, I'm telling you not to compare Steemit to traditional capital gains markets.
If you are a shut in without friends in Steemit, you can fix that by wandering around in the Steemit Universe and reading posts by real people that will tell you, much better than graphs, how Steemit is affecting their lives.
You can do the above even if you are not a shut in without Steemit friends.
If you are not a shut in, then you could actually find some of the Steemit meetups that are currently springing up.
The very basis that you cannot see is the reason I'm telling you to go find someone who is a witness or much older than a minnow and involved in the workings of the Steemit structure who can tell you what you do not see.
So I would say, all in all, you're fairly astute in your summary and I personally would expect someone as astute as yourself to go get better advice, input, and knowledge.
I'm pretty sure we're on the same page now. I do look forward to hearing whom you've found to learn from and the differences between Steemit and a typical capital gains market.
Have fun.