Given the powerdowns ongoing now, I can't blame you for starting your own.
I have objected to the rewards pool rape since I grasped it was going on, and using basic investing principles have tried to turn the ship towards productive waters, to no avail.
"If Steem is to survive, there's got to be incentive to holding it."
For thousands, if not tens of thousands, of years, investors have sunk resources into endeavors. Throughout all that time, what has been a nominal mechanism to encourage investment has been capital gains. The structure of rewards discourages investment and encourages profiteering, like a hostile takeover of a corporation buys a controlling stake, sells the plant and equipment, takes their profits and moves on to the next target, that's what the whales have been doing to Steem by extracting the rewards that should be encouraging content creators to market Steem.
I think you may be late to the powerdown party, but better to get something for your investment than what I will, which is nothing. I didn't come here to make bank. I came here to speak freely, and at least that hasn't been sold along with the forges and presses of the Steem blockchain.
Be well.
Thanks!
by the way, who did you piss off?
I have been seeing this constant downvote on you for at least a month
Bernie. I live in his bots rent free. Sadly, not flag free. It's kinda flattering, really. Like he's got a crush on me.
Not gonna work though. I'm strictly batting for the natural selection team.
What I'm trying to get at is that the line between investment and profiteering is intent and action; I just do not believe that there is mechanism that can stop an investor from crossing the profiteering line.
Actually, I'm not powering down to liquefy STEEM, but to have it available if I need to sell out; you may be right that I'm too late.
But...just because Steem, Inc is powering down doesn't mean they will sell it off.
So I have hope for the future, but I'm hedging my bet. This puttering about with the wrong tools just means we're going down the wrong path, not that Steem can't reach it's potential. Like I said, I bet my 50 STEEM on the off chance someone with the power to do so stop making poor choices.
Well, you're not wrong (you rarely are. Don't let that go to your head) but there are ways to create incentive or to discourage counterproductive actions. Enabling substantial stake to extract rewards that should be marketing Steem is counterproductive to capital gains and investment that strives to increase the value of the investment vehicle. That's generally how stocks work. But the example I gave is not a fluke, and real world higher ROI can be attainable by selling the parts. Market conditions, or fraud, can create such situations.
You could buy stock in companies today that physically possess more cash than their market cap. If you took a controlling interest and just dissoved the company and disbursed the cash to stockholders, you'd profit. Most investors don't do that, because such conditions are usually temporary, and companies with that much cash almost always become more productive of profitable returns over the long run.
If you do need to sell, I hope you catch a bounce. Steem could be doing all kinds of things. The optics of them powering down right now aren't good, particularly without some kind of statement indicating they aren't selling. I hope @yabapmatt and others posts pointing out that EIP is not a good idea gain traction and keep it from being undertaken, but given the extant code and history of such debates, I agree with him that EIP is most likely to be implemented.
I'm agin' it, but who cares.
Back in the Corps, a friend of mine stole my logbook and left this note for me
I have a prominent honker LOL
seriously, I think this is just a problem w/o a technical solution
started my powerdown today
let's see what happens in the next 14 weeks ;>
I do not think there are any problems without technical solutions. There are only challenges anyway. Sometimes the way to surmount a challenge is to go around. If the hurdles on the track you're running on are not able to be leapt, running on a different track is a reasonable solution.
or to take a different approach (oops, you said "go around" ;> )
perhaps like using the resources that Steem Inc has to make dolphins and orcas into whales to effectively decentralize SP
You're a waste of space. You've been flagged like the trash you are.
hear hear!
I used two of your posts writing this; maybe I should give you some credit ;>
Thank you very much appreciated.
Cheers