Top 20 Witness makes 97k SP a Year
If Steem hits $10 this year, and we all know that is doable, it would be a 970k per year salary.
This can be shown via this screenshot of a simple excel spreadsheet.
Almost 8k per month, and 71k per year is a lot of SP. 8k is what most of us hope to grow to in YEARS.
So How Much Should A Top 20 Witness Up Vote Them Self?
Is 20% a good amount? Two of every ten 100% up votes go to themselves, with 8/10 up votes going to the platform that THEY AGREED to support?
30%?
Maybe you think 50%?
So let us agree on 50% just for now.
If everyone up voted themselves 50% of there voting power, STEEM would have a very hard time growing. Most of the user's that are working hard day to day, know how hard it is to find someone with a good up vote to pay attention to your content.
We also all want to see STEEM grow. We want more users, more users will drive demand, price of STEEM will go up, our up votes value will go up, everybody makes more money, everybody is happy.
But we already seem to be missing the big up votes in our current population
So what happens when not only do we grow exponentially in membership, but more witnesses start to move their self voting to higher limits? Most seem to be around the 10-20% range with some at 0%. That is wonderful.
Less big votes going to users, plus a bigger user base, means a lack of up votes to those new members who are joining. What do you think will happen to these new members when they are forgotten about in the corner while the whales and witnesses circle jerk to themselves.
The Platform becomes weakened
People lose interest, the STEEM coin loses demand, whales, witnesses, and users alike, all see their personal time investment go down the drain due to greed.
Now remember, this is all based on 50% self voting.
What if I were to tell you that someone in the top 20 witness spot currently 82.3% in the last 14 days
This is an obscene amount of self voting. Remember, this is a user that we are voting on to SUPPORT and GROW the platform. This is a user that, because of the STEEM communities witness votes for them, makes 97,110 SP per YEAR.
IDC what you do for the platform, whether you be PR, Developer, Community Leader, whatever. In my eyes, giving to yourself instead of the platform is just greed at it's most obvious.
To any witness out there. You are voted on due to your work for the platform. Regardless of WHAT work you do, this does NOT give you the right to give only to yourself and allow the platform to die.
This is directly the opposite of what you, AS A WITNESS, should be doing for the platform.
Ever heard lead by example? Use your head and do what is right for the platform, not your crypto-portfolio.
Steemians, what are your thoughts?
Is self voting to this caliber good for the platform?
Should all witnesses be held accountable for their own self voting abuse?
-BiasNarrative
What's a rap record without some name dropping? ;-)
Last time someone dropped his name, they were flagged.but he's in the bottom 5 of the top 20 haha.