"YES IT DOES! To 'Smoke Out' All That Blatant (80%) Pre-mined Steem Power (SP)!!" @mindhunter
To quote another @biophil comment on this post:
https://steemit.com/steemit/@masteryoda/a-call-to-separation-of-powers-in-steemit
"I'm very interested in cloning Steem and giving it a classic fair start. No ICO, no ninjamine, no premine, just an announcement that it's launching. I'm not sure how you do that and fund a steemit.com-style frontend, but maybe it's not too challenging.
The point would be that we'd start with everybody on an even playing field, and we'd be able to see how the community would evolve from that point."
As a crypto-expert I believe we need a Steemit hard fork ASAP to 'smoke out' all that blatant pre-mined Steem Power (SP). Hard forks are the only way to REVERSE these blatant pre-mines.
Failure to do so will result in a slow decline in Steem price as the credibility in the Steemit ecosystem starts to ebb away - and people start voting with their feet.
In fact, every pre-mined cryptocoin has ultimately failed - whether the pre-mine was hidden or blatant. Steemit is not an exception.
We must adapt or die. Just ask Ethereum.
Love to hear your comments below.
P.S. For all you hard fork noobs see: http://www.tech-recipes.com/rx/48517/cryptocurrency-what-is-a-fork/
EDIT UPDATE: Best comment so far is from @thecentreofitall:
HARD FORK + SERVER REBOOTS - OR DEATH!!!
I'm considering flagging for blatantly misrepresenting me. I will never call for a hard fork to redistribute the wealth. Fortunately, in a DPOS system, such a hard fork could never happen without consensus from the people whose wealth is being taken.
What I called for was a code fork, more along the lines of Golos. Start a new chain altogether. It would be the Litecoin to Steem's Bitcoin. @smooth pointed out that this is not strictly legal from a licensing standpoint, so it would need to be a pirate operation. Nothing wrong with that, but as I've been very open about my real-world identity, I will not be pursuing this under my @biophil account.
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EDIT MADE: So as not to imply you and keep you happy :-) I hope Golos can do what Steemit SHOULD be doing RIGHT now!
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P.S. @biophil - I know how you feel. But for those in the know in cryptos, you can have the BEST community in the world, but a ninja mined / pre-mined crypto will always fail unless the founders disseminate their early gains to the community quickly. Other crypto-coin have done it - but not Steemit. This may be the rock they perish on. Dutch courage must be taken to reverse the price slides of today. URGENTLY!!
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P.P.S. @biophil - a small STEEM token donation has been made to your account for any confusion caused :)
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Haha, thanks. No offense taken.
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Did you notice $10 million has fallen out of STEEM's market cap in 24 hours?! OUCH!!!
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(From $62M to $52M!!!)
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Not pretty. But everybody should have known all along that Steem is in a classic Auroracoin situation. The market cap (deliberately?) misrepresents the amount of liquid Steem.
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Auroracoin currently resides at $0.11 just for interests sake.
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$10 million has fallen out of STEEM's market cap in 24 hours! OUCH!!!
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From $62M to $52M!!
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This could be another AuroraCoin!!
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This could be another Mazacoin!!
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This could be another Titcoin!!
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The pre-mined crypto death-list is endless!!!
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A new blockchain would be very unfair: you will just take all the hard work that Steem developers have done and use it without giving any compensation to them.
It might be also illegal, depending on what country you are. There was a real reason why Steem was launched like it was: https://bytemaster.github.io/article/2016/03/27/How-to-Launch-a-Crypto-Currency-Legally-while-Raising-Funds/
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I think a re-sale of the EXCESSIVE SP power via a late ICO would be a better option. Other crypto pre-mines have done so in the past.
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Well, it would still have potential legal problems. As it's said in the link:
This is basically happening right now. Steemit is selling to fund the development. Price is low, so anybody who wants to invest in Steem can do it relatively cheap. From a redistribution perspective, isn't this a good thing?
It should be also noted that decentralization is not a good thing for a new project (and maybe not good even for a matured project!). Too much decentralization will cause bad problems and it could even stop the development.
I've written about it here: https://steemit.com/dao/@samupaha/how-to-design-efficient-and-resilient-dao
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Correct. I have no problem with a small pre-mine in principle to cover initial costs, but now the whale SP is too top heavy, and as the whales sell off, the demand is not there. Newbies want to EARN Steem (just look at the marketing for joining up) not buy Steem. A tough gig for the Steemit marketing people here. Where are they if everything is so centralized??
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I'm looking forward to Golos and see what that brings. It's good that they are doing more marketing before crowdsale as hopefully can avoid some of the similar accustations to Steem.
One thing to remember, as popular as blockchain tech is in crypto world, and the interest from the big companies/financial firms, it is in ways relatively fringe. And so get people involved, to get miners, witnesses, is not that easy, people have to have the strong interest in these techs and want to put their time in; it's expermental and therefore risky investment of peoples time. Just because Steemit did not have the presence then as now, does not mean anything malicius. people dont like to market prematurely. It is a hard decision.
So either way, say you did fork it, you will have same issues. And if you can get support and as many devs as Steemit sure it could be successful too. The end-users on Steemit now would try it, that wouldnt be an issue.
I'm saying that is it really a good thing for economy of Steem to distribute SP equally, this early, widely, to peole may or may not care of the ecosystem at all?
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All I want is: A fair start. No ICO, no ninjamine, no premine and a Bitcointalk announcement that it's launching fairly. Simple really. None of that was offered with Steemit sadly :'( An old crypto fool fooled again!! GRRRRRR!
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think of it this way, wth endgame plan of steem, a goal is to keep it pegged at the american dollar. If someone sold a lot of steem, and they are involved in platform, to buy it back at a low low price, isnt that likely game plan? too risky for some to invest now, but at a low ass price, something aimed to be pegged at an american buck...well it needs time t develop as economy. and steem is getting to be really big actually, in terms of interest and reach. Well if you compare it to ethereum wasnt it a year until it began a slight moon launch. iirc.
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The chess endgame here is death by a thousand cuts - the worst path to checkmate!!
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Let's make our fave Witnesses top witnesses! https://steemit.com/steemit/@radioactivities/rock-the-witness-vote-together-our-voice-matters
spread the word
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Heading over for the up-vote!
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Steem needs to be able to be pumped easily....just a fact.
like bitcoin, there is centralized miners to an extent, whale wars. its just how the system works, imperfectly. so patience and hold a bit of steem.
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I'm saying you are completely right, that it is an element of collusion and insider trading, that's crypto. It's just not what people think. It's not people voting high for accounts because they are simply friends, tho that happens sure, it is just a trust of intent issue. now its better that ppl who are in Steem for the long haul to have more funds, than random users who think 'oh log and get paid' for a little while, then they get tired of it, happy with the money and leave (because they dont like blogging much anyway and dont really care about crypto). so these things that go on, are not as malicious. people are bagholders, via time spent and paid in SP, devs are not Mr moneybags running off laughing evilly into the sunset
in the longer term, this will highly benefit you and I and end-users like us
and oooone more thing; they cant just publily declare something like this. and this s my opinion, formed by my observations, alone.
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Excellent comments @radioactivities Thanks for them. They really add to the debate overall!
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Thanks! You're the best mindfucker! i am writing soething about what us everyday end-users, minnows united can do...in actual terms...for what we want to see in Steemit. But it's Canuck thanksgiving weekend and I have to get drunk on the wyborowa.
which for slavic heritage people here the entire week should be called:
kapusta ponad wszystko
Its a real militaristic aproach to the use of cabbage for food here, I tell ya
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A Cannuck going Slavic wildo! Ha ha! Those lines were funny. Happy Thanksgiving to all Canadians reading this ;)
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For historical prices sake. Today STEEM is at $0.37.
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P.S. At this rate the Steem price will be $0.12 by Xmas!
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well then less decision to buy golos crowdsale or steem. because steem will be cheaper than kapusta. So can do both
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I cant really afford to risk money on coins,coins everywhere.
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Welcome to the cryptos - look at the coin market caps daily and they all lose money eventually. Someone once told me: Follow Bitcoin only - the rest are crooks. There is a perverse logic there! https://coinmarketcap.com/
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Wankcoin, TitCoin, AuroraCoin, Mazacoin etc etc...all shitty pre-mined coins!
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....it's a never ending rabbit hole of shitty coins!
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The founders will never kills their own golden goose. People like @smooth will defend his & the founders actions to the death!! Your gonna need a BIG SWORD for this hard fork!
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I already had a blatant pre-mine discussion with @smooth last night - I told him that all blatant or hidden pre-mines ultimately FAIL in the end!
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P.S. Don't worry - We have LARGE swords here in Poland ;)
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well you cant just apply that direct logic to so many variables
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Well, the first experiment is announced, also it's not quite that you are suggesting
https://steemit.com/steem/@hipster/cyber-fund-is-to-launch-a-russian-steem-based-social-media-platform-golos-under-license-from-steemit-inc
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I love that Golos is happening, but it has a huge premine/ICO so it's not going to be what I want.
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They say that crowdfunding would create more even power distribution, also my feeling is that we probably will see there some of same old Stemit whales swimming around )
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Golos - abandon hope all ye who enter!!
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Thanks for the link - I'll check our neighbours out!
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Here's some update https://steemit.com/golos/@primus/1-golos-weekly-report-oct-09-2016-network-launch-crowdsale-delay-and-how-golos-will-differ-from-steem
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Excellent news!!
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I know @biophil would be proud of these Russian boys!
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I do like the principles of this Russian variant - they also question key issues in the White Paper. We need a @biophil / @mindhunter version of this - How about calling the platform Mindhunters? Ha ha!
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Mindhunters.com !
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An HONEST assessment of the dirty underbelly of Steemit. Something does need to change with SP. Fast!!
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We must attack the dragon where it hurts most - weaknesses like this cannot continue to exist!! I don't think I'm saying anything here that some-else has not thought - it's not just me and @biophil
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Up-voted and Resteemed :D
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Excellent work my fellow minnow!
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Always got to support the Judicial minnow of the Steemian-states!
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Ha ha! Last month I was the Lech Wałęsa of Steemit!
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The man from Krakow is a dragon slayer! How ironic - the city was founded on the bones of an old dragon once slain there! Go @mindhunter - here is my trusty sword - and Resteem!!
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Yes indeed! The ole' Wawel dragon - we certainly know where to stick our swords round here! Thanks for the Resteem!
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Business cat speaks:
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"Send for the @mindhunter + Superhorse!!"
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looks to me that much of the "might" and "will" you are talking about already IS. i don't know enough about it to recommend how to make steemit survive but it looks like something should happen soon. this doesn't sound like a bad idea but what do i know? that fork is metal as hell.
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This is indeed the domain of the crypto-Gods. Not all will understand or know what a hard fork is. Fortunately I do. It is the only solution. Some even say Bitcoin will need to hard fork soon due to its transactional overload! Best we do it soon - rather than die a death by a thousand cuts all the way to Xmas!
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so it's the fork or the knife.
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In simple terms: Yes.
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EDITED NOW ADDED: P.S. For all you hard fork noobs see: http://www.tech-recipes.com/rx/48517/cryptocurrency-what-is-a-fork/
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HARD FORK + SERVER REBOOTS - OR DEATH!!!
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I will add this excellent line to the article above as an EDIT:
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Now added - thanks for your comment.
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I can't see this post getting past $0.01!!
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No whales will touch this post or hard fork Steemit and kill his golden goose! Pre-mined idiots, all of them!!
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I cannot disagree - but us minnows must at least make them aware of the situation - which this post more than does!
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P.S. We must kill the golden goose or yours.network will eat Steemit for breakfast and spit us out for lunch!
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(I'm a Beta tester for yours.network, and I know that Steemit is gonna have to shape up damn fast or ELSE!!!)
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HARD FORK + SERVER REBOOTS - OR DEATH!!! LOVE IT!!!
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Yes indeed - a great war cry from @thecentreofitall !
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