Why Do We Even Have To Debate This

Anybody who understands Steem understands that the reward pool is a community pool that EVERYBODY'S rewards are paid out from.

4.706% before Bernie posted.

(Bernie's Pic)

Down .753% to 3.953% of the reward pool is being paid out to one person.

(Deliberately made this picture bigger so that everyone could see the URL and time stamp.

As we speak, that value is worth around 100k in the past 7 days, or roughly $5.2m a year.

100k a month, divided by, and let's be honest, 40 hours is being nice to the amount of time he probably puts in per week for this, but 100,000 divided by 40 is $2500 an hour Haejin is getting paid. Even 80 hours a week would still be $1250 an hour. Tell me what makes one person worth that when it comes to a single individual creating content that is supporting by a COMMUNITY.

So far, I have seen people defend this by stating, “Why do I care how much he makes, He Rocks!”

Well, let us look at this in a different way.

GDP Comparison

Americas GDP was 19.36 trillion in 2017. GDP, or Grand Domestic Product, is basically the market value output of the economy during that year.

Imagine the Steem reward pool, as the GDP of Steem. It is the overall market value output that can reward users for content.

This content ranges over almost all aspects of human interest. I won’t even begin to list them but you could come up with tens of thousands of active topics. Reddit for example, has 50,000 active subreddits according to expandedramblings.com.

If the U.S. had a sole individual gaining 4.706% of the annual GDP, he would get,

$19.36t * .04706 = $.9110816t ~ $911 Billion ~ $911,081,600,000

Dividing by 52 weeks a year, 911,081,600,000/52 weeks =~ 17,520,800,000 or 17.5 Billion a week.

Other than perhaps the government, I do not know any individual that can claim they take that much money home per week every week.

And let us be honest, I do not believe anyone could justify somebody taking home such a large portion of the overall economy that supports the 350+ million people that live in america. So why is an individual who is taking such a large percentage of the Steemian’s economy being allowed and overlooked by other Steemians.

Whether you like it or not, this affects you, this affects the growth of Steem, and the growth of your alias and yourself. When good content starts to fall to the wayside because whale best friends are giving disproportionate amounts of money to single individuals will take from the reward pool, eventually making your upvotes, your posts, your followers posts and upvotes, worth less and less.

Today it is one person taking that percentage, maybe there are more? Anybody know?

What About 30?

What happens when 30 different whales do this? Maybe they are all only getting 2% a piece now because it leveled out a bit, that is still 60% of the reward pool being taken away from the possible millions of people that utilize the platform while 30 individuals get away with what was suppose to benefit the community.

Somebody getting paid disproportionately does not help the community, it hinders it. It makes possible investors not want to join in, or to join in just to do the same exact thing, lessening the worth of everything on the platform.

Disclaimer:

I personally don't care what content he puts out on Steem. Or if he makes money off of his posts due to individuals actually appreciating his work. What I care about is the disproportionate amount of money going to one individual which takes from all of us. The Community.

We are here because we don't want our content to be monetized by others, to be controlled by others, to be sold by others. Yet, the CONTENT creators, ALL of them, over 40k active now, are what is bringing life and VALUE to the Steem dollar. It is not ONLY Haejin giving value, although it does seem he does give value to people.

I hope this post has opened your eyes to some of the things that are happening. If you care about the longevity of Steem, please pay attention to these issues as we need to stand as a community to work through and remedy issues like this.

This Won't Stop With Haejin

So what do we do? Let it fester like our corrupt politicians fester in the greed of corporations, making the problem bigger and bigger until it is almost to big to take control of? Or do we cut the head off from the beginning and fix a problem before it becomes bigger?

Risk management is about understanding and trying to prevent risks, as well as being able to respond and recover if a risk happens. This is a big severe risk to Steem, and we both need to look at preventative measures so the risk doesn't fester, and reactive measures when it inevitably gets worse.

What Will You Do?

Sit back and allow your personal stake in the block chain to be dampened? Or stand up, talk, collaborate and work through to a solution that can help everyone involved.

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-BiasNarrative

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