Here's my analysis on what I see happening with the social media platform "Steemit". Wether by design or accident, the system is being gamed. The dollar vigilante is one bad actor I expose in the video. The quality of the content is less important than the Steem Power you possess and this will lead to cartel formations. The market will wake up. Please up-vote if you think there is any substance to what I have posted so I can make a quick buck and sorry if you have invested your steem to steem power. Hopefully the market will float long enough for you to break even.
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Well some of the whales have already said they auto-upvote a certain list of authors, no matter what they write. Though occasionally the community protesting about it leads them to change their author lists - I think one whale who controlled three accounts decided not to upvote posts that simply talk about steem anymore. But yeah, little cliques and cartels will form, but that is the case on all social media (it's estimated that most of the activity on twitter is down to bots).
I guess the answer is to form your own cliques - some minnows formed minnows unite (https://steemit.com/minnowsunite/@endgame/minnows-unite-proposal-manifesto-strength-in-numbers-the-steemit-foodchain). It's a giant game...
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There certainly could be an issue with cartels forming that could promote inferior content by using their superior influence and hence gaming the system. Surely large amounts of steem power could be used to leverage even more value to these accounts. Even low effort posts could easily bring in more significant rewards than genuine content posted by lower value users.
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Hit the nail on the head with it!
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I vote on this
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Thanks :)
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"Cartel formations?"
That sounds a bit paranoid. It is just a blog, dude.
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