You know you cheered with the rest of the dupes when Ned gives out delegations.
Now you know how much your vote goes down when Ned delegates to his favored select few.
Everybody is happy that AppX got support from the top, yes?
NO.
Not everybody.
Those of us that understand the math have tried to explain to you who don't know the math that when the biggest accounts delegate, or vote, everybody else loses money.
Whether the whale votes that stake, or delegates it for somebody else to vote, the value that those votes bestow on the select favored few come from the votes of the least amongst us.
@nieuscarin gets less clothes for skool.
@jesusjacr puts less money aside to feed his new baby.
@petrarodriguez gets a few less pennies to simplify her life.
I get that we have to build the infrastructure to attract the masses, but the masses would already be here if the top 70 accounts would have simply not taken as big a bite of the rewards, imo.
It is because of a couple of them that we lost the n2.
It is because of them that we don't have enough stake to reverse the mistake that is linear rewards.
It may not have been perfect, but the n2 did put popular content on trending.
It is those 70 accounts with more than 500mv that are the excuse to not bring it back.
It is in the best interests of their greed that we don't.
Until we give the original design a full test, we can't know the truth about it.
We can know that a power struggle ensued.
We can know who won that power struggle.
But we can't know that the premise was flawed.
Read with me, dear reader.
Bring back the n2 with a soft cap set at 250k Steempower.
This gives the minnows reasons to be here, their votes will count for something.
Get enough minnow votes and they eventually make it to a penny.
As long as the bidbots stay below the cap, there is no reason they can't be here, either.
When only accounts with less than 500mv votes the math isn't so out of whack.
This also gives investors a number to shoot for.
Why would a 10k usd investor invest when the 1m usd accounts refuse to let him share in the inflation?
I don't see our doors getting beat down by folks with a million dollars to drop on a unpromising speculative promise, so why would we keep the math favoring folks that wouldn't touch us with a 10ft speculative pole?
With this math in place, it makes sense to invest 10k usd to be somebody in the pond.
But, you do know, dear reader, this place was set to fail.
It was a pump and dump from the get go.
Prove me wrong.
It appears that crypto is recreating the dotcom boom. During the boom the greedy people at the center undermined all the people around them and caused the market to bust.
That appears to be what happens in most of the market crashes. The people controlling the exchanges and banks undermine the people at large.
Speaking of the math ... do you know the amount being added to the award fund each day. SteemD reports the fund is 785,949 STEEM but gives no context for the number. My guess is that they add about 70k a day.
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
That number is a 30 day compilation.
The blockchain creates so much steem per block.
Witness producer rewards are 10% of the steem created each block.
Just multiply one of those by ten, and every 3 seconds that much is created.
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
That is a great way to calculate the number. SteemD.com indicate witnesses get 0.21 per block . So, 0.2112606010/3 equals 30420. That is about half of what I thought it was.
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
75% of the steem created by each block goes into the rewards fund.
15% goes to sp holders according to how much stake they have.
The rich get richer, by design.
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
This is a relatively minor problem compared to the things the ruling elite built into Wall Street and the banking system.
The sad thing is that, by concentrating on this short term profit, the creators of the exchange may have built a system destined to crash.
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
No matter how low the price goes, the creators already have their money.
You can bet that the banksters sold on the high.
Now they want it to go low enough to get back in.
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Well I think that I 'half' understood your 'splanation' so as always FB you got my support with my 'two cents' stuck in there...
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Simply put, Steemit is not about 'empowering anyone' but is about a traditional business model but using trendy 'crypto' and 'blockchain' buzzwords to make it look more cool and sharing.
It might work and might be classified as 'decentralised' if the ability to run nodes ere extended to the masses, if there were a way that anyone with a PC at home could be running a mini node, but no. The complexity and cost mean that the fabled decentralisation extends only to the highly intelligent geeks and/or people with huge money in the first place to set up a node.
Half of the nodes running this decentralised blockchain are owned by Privex and are in a handful of data centres!
As I have said many, many times here. There is no brave new world, just a redistribution of wealth from some old school bankers to some new school techies.
The only benefit we have here is the lack of censorship and blatant advertising. But that will one day come.
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
The message has changed since i got here, what is happening omits a major influence in the design.
We've been hijacked.
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
.
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
I didn't understand one little bit of what you said.... but I up voted it any way. tee hee hee
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
I have absolutely no idea what you are talking about, but it rings true...
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Ned is not going to do a f****** thing. He does not give a f*** about any of us at the bottom. That is just the f****** way it is today.
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
All hail crapitalism!
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
I can't understand what you are saying, with all those ****** everywhere....
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
I got lazy and did the voice to text on my phone. It came out that way and I was to lazy to change it.
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Steem: Evolve or die.
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
The statement is funny. Dying and being replaced is actually the fundamental principle of evolution.
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit