Let me know where I'm wrong, but Steemit just doesn't look solid to me for the long-term. If we want it to succeed, we need to be able to scale when there are 1 Mil users active at any one time.
Can the current IPFS model sustain that where people host a node out of the kindness of their own heart? If we can't create a cost beneficial model for them, how do we effectively decentralize and avoid being black-listed?
A serious question that I have yet to find an answer for. Have a great day fam!
Well, I'm not wasting any money to start so even if it fall down I still didn't lose anything but my time reading posts to gain knowledge.
Steemit still pretty new. I would give it some time.
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As the userpool grows larger, the reward pool will be more fragmented. In a few years(if Steem still survives all that time) rewards will slowly go down.
The wintness don't host a Steem node out of kindness. They get Steem as a form of payment. Which can be sold to cover the servercost/electricity.
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After a bit more research, I was inaccurate. They are operating with witnesses (MasterNodes everywhere else) on the Delegated Proof of Stake (DPOS) model. SteemPower holders vote for them. Make a LOT more sense, though it's rather concerning that nobody noticed this and corrected me. Are the majority of users equally non-technical? I'd love to see more technical explanations present on here.
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