I'm very excited about the Steemit community right now. That said, it has a long way to go to gain credibility and a big thing holding it back is questions about the STEEM money supply and the way STEEM was distributed initially. The rules regarding the distribution of BTC are very clear and there's no uncertainty about its fairness. STEEM needs to follow BTC's lead or else it doesn't have a shot at penetrating mainstream.
@Dan, @Ned and others -- can you address this or point us to where this has been addressed before? It's not in the white paper and I haven't seen any in-depth explanation.
Clarity on STEEM distribution would go a long way in gaining more trust in the platform!
Define "fairly".
The launch of the steem blockchain was intentionally made in a way that secures a large portion of the vested steem for its creators, i. e. SteemIt, Inc. This has often been (rightfully) criticized as a form of "premining". An important point, though, is that these pre-mined steem are locked up and can be liquidated only over a period of two years. This ensures that Steemit, Inc. cannot dump their coins and run away. Instead, Steemit, Inc. has a huge interest in the long-term success of the platform.
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Your right
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Nice post
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
I upvoted You
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit