Only the big fish profit from Palnet.io
A bit more than a week ago Palnet.io was launched. It is a spin-off from the Minnow Support Project.
Which was an alliance to give minnows and plankton the opportunity to grow, and give some weight against the whales of Steem. This support group does a great job, because minnows and plankton got more upvotes from eachother, and grew faster through this.
Now Palnet and PAL coin should be another incentive for minnows and plankton to gain even more power and traction, as with Steem also PAL coins can be earned by using the #palnet hashtag. The curation is even at 50% in stead of 25% on Steem. Well great initiative, and I support that. I use the hashtag too. And I have even bought around 85 tokens.
Image courtesy of www.porchdrinking.com
So, what is the problem then?
Payouts are only done when a full PAL coin is earned, and for that, one needs to have had upvotes from quite some PAL Power. So in fact, only the PAL dolphins, orcas and whales profit. Let alone, profit from curation, for that you need have who knows how many PAL staked. Which is extremely sad. For an initiative that had the aim to make minnows and plankton bigger and keep them on the Steem blockchain, they are actually shut out.
So, at this time, I am not going to buy anymore PAL tokens, until it is possible to earn rewards after the comma or the dot. Just as it is on Steem, and on Weedcash.network, where this proves to work beautifully!
This proves once again, that when power is achieved, it is used to take advantage...
Come on PAL, make this platform the case for what it was intended!
Sincerely,
Pele23
Totally agree. By the time they introduce decimal payouts the whales will have accumulated a bucket load more. Then will start selling up and the price will come down so in essence the whole thing is pointless.
Did they not realise the decimal flaw or did they do it deliberately in order for people not to earn and have to buy the coin which they need to pump in order to dump?
Weedcash in that sense is better but a niche therefore probably wont take off and achieve a reasonable price.
Probably best just sticking to the original steem at least they are open about screwing you and use lube instead of getting dry humped here
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My point exactly, and apparently it’s still not solved... very peculiar if you ask me
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u should do some research, we will get update fixing that issue in 12hours
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But in the meantime, you have seriously disadvantaged small-size wallet holders which seems to go against MSP declared principles...
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Well, I sure hope so, because in the meanwhile, the big guys have profited immensely...
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pre-curation mode :)
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@gerber am I misstaken? I still don’t see any smaller payouts?
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Very well written article. I'm just not sure what you mean by this . . .
"...until it is possible to earn rewards after the comma or the dot."
What do you mean "comma" or the "dot" ?
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he means that there is no payout if you earn fractions of PAL coin - you get either 1, 2, 3 but not 0.02 for example
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0.xx rewards
.
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So the dot being something like this?
1.34 PAL
(rewards)
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Yep, 0.03 will be possible too, s minnows will earn too
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