STEEMit vs LIT and yesterday's massive suspension

in #esteem6 years ago

So just by reading the title of this post, it's not a very fair assessment in terms of the use cases of both social mining applications however you can compare them side by side in terms of tech and team that there is clearly a far superior one.

I've been using STEEMit close to 10 months now and LIT for just slightly above 4 months and by experience and recent experiences, I've learnt quite a bit on this social mining aspect of the blockchain world.

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1. Trustless and decentralised?

I think for those that are familiar with the whitepaper and tech of the STEEMit blockchain, a 1 look at LIT and you could already spot some red flags.

These red flags are such as that although the MITHRIL built in the Ethereum Network is decentralised, the app LIT however isn't.

This is a massive red flag as although there is transparency and you can view transactions done via the Ethereum Network, you can't however see what's going on in the coding of LIT and how "mining" done because the app isn't decentralised.

Why is this an issue? Well first and foremost, it's no different than any other more popular social media app out there but the more concerning thing is that all your hope lies in a group of people behind the LIT app that all their decisions and intentions are pure and for the community.

This shifts the primary reason of being in a trustless society where there is accountability of the community at stake and the responsibility of that toward one another.

So as a vision, it basically is no different than u being a user on Instagram or in LIT. The vision is clear that, you follow our rules or else.... And nobody can countercheck whether what was said is what was done. For example, an admin replies, "We're working on it" to a users comments on a bug they are facing, whether they are working on it or not can't be judged by the community even if the same bug exist for another 6 months. This gives room for discrepancy and corruption. And those that are seasoned in all things blockchain and crypto know how quickly things can go south.

STEEMit however doesn't have this problem because anyone and everyone can view the codes. There's the accountability of Witnesses POW coming into play as well. No single entity controls everything on STEEMit. Even if the Witnesses wanted to burn STEEMit to the ground, well there would be other new Witnesses that could replace them and continue the responsibility of a Witness.

LIT however, if they chose to bail, nobody could do or have a significant say in any matter besides it's current team, nobody has access to the blockchain in any form.

2. Binance

Binance? What does Binance have to do with this?

We'll just a week or 2 ago, Binance contacted Mithril to chat about getting them into a community voting competition that if won would list MITHRIL on its exchange.

Long story short is, Mithril won the competition with highest votes and everyone on the platform were thrilled, both developers and community.

However, just a day after, Binance announced that there was a new winner and that MITHRIL had been disqualified from finishing 1st due to discrepancy in votes.

This was an early on red flag as well because many felt that LIT created the app and rose to popularity very quickly for one purpose and one purpose only - to get listed on a major exchange and dump. And of all major exchanges, Binance the mega giants, jackpot!

So who or what were the discrepancy? What was the abnormality in the votes? Bots? Fake account voting? Well it could be any or all of the above but more importantly who.

Did the community do this or did the developers do this? Well we can safely conclude just by odds that majority of the community aren't coding fluent people to device such a scheme.

Now what about STEEM? Many users on STEEMit wrote articles and did personal campaigns to get listed on Binance of which STEEM was already listed on Bittrex and Poloniex but who doesn't wanna be listed on Binance?

We all know that STEEM has and is listed on Binance so nothing much to talk here besides the fact that only exceptionally promising or awesome stuff get listed on Binance.

This however is open to interpretation. - disclaimer.

Who's in charge?

For this I'd like to take @esteem and @good-karma as an example to compare with LIT and it's developer MBB short for Mithril Big Brother. Both pretty annonymous as to who they are in real life but that's besides the point.

Esteem although centralised as well, is an app built on the STEEM blockchain. Well then, doesn't that mean it's the same as LIT built on the MITHRIL blockchain?

Looks the same and sounds the same with that statement but going deeper, again, Witnesses and the community come in to play. Because of the way STEEM is designed, @good-karma along with the eSteem's curators have put themselves in the spot of transparency and accountability to users of the platform eSteem, as well as potential users which are using STEEMit. They want to get people to use eSteem and users want to support the app and the developer as well.

MITHRIL's main developer, MBB however, well let me just put that into perspective by posting up a screenshot of him responding in the LIT telegram group yesterday when there was a massive user suspension.

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In context, users that were ban yesterday without being given a clear reason besides, "the system detected abnormal behaviour therefore you've been suspended", were outraged at why they got locked out of their account without prior warning and took their queries to Telegram.

As you can see, these are just a few of the ludicrous response from him.

Instead of a proper discussion this is what you get from head developer of Mithril. Comparing that to the various applications built on STEEM such as eSteem, DLive, Dsound..... You don't see that kind of attitude. The opposite in fact happens. They wanna engage with the community because it's a 'help me help you' scenario. Not so for LIT.


Conclusion

Use these apps accordingly. Some you wish that they were all you dreamed for but in reality just isn't. Just use them for what they are. Some has long term purpose and some just usability.


Disclaimer: This post is not financial advise. Any opinion written here is just personal observation and observation which could be subjective. Do your own due diligence when it comes to investing time and/or money.

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You hit the nail in the head, man. Some people like pheebz, jz acts like they were admins.

They want to be fair? It's never fair when spammers, abusers are still around their platform. It's pretty obvious that they are catching on people who are earning.

Well said both of you @iyanpol12 and @danielwong

Thanks @iamjadeline. I think I saw you there. With Denion.

Acting like an admin? I thought it was good that spammers were being banned. If you don't like that, it's your issue.

Excuse me? Have you ever read that I said spammers and abusers are still around? Ever read the screenshots from Telegram above this post, and Big Brother responded to what I said?

I am not anti-Lit. I love Lit and I want it to be free from spammers but many are still around.

BTW, this post was way back, and it will help to read the entirety of it.

Posted using Partiko Android

No, excuse me. You mentioned me directly without any form of tag so I couldn't respond. The only reason I saw this was because it was brought to my attention by someone else.

I am sorry if me being active in the telegram group translates to "Some people like pheebz, jz acts like they were admins."

I am a holder of Mith and stick around to try to help newcomers. The growth of the platform is of interest to me and other holders. All I had done at the time of this post was stick up for the team for the large suspension list because the majority of that list were abusing the system.

Oh okay. Well sorry then. I support Lit, and in fact I brought in more than 20 new users, and my advice to them is don't overdo, don't spam. Honestly, I was disappointed on the response of Big Brother at the screenshot above but it doesn't mean I lost my respect on him since he created a great app. Admit it or not, there are rooms for improvement, but I saw how things gradually improved, and spammers are getting lesser now. I never staked mith yet which I am supposed to do weeks ago, but upon new developments I think I should push through. We only want the best for Lit.

I agree that there are issues that need to be sorted, and it's great you're bringing people to the app.

My only issue was that your comment seemed to attack me for no reason. No need to apologise. Let's move on, and good luck!

Sorry if ever did I mention you. I think everybody are just at the peak of emotions at that time, and eventually agree for the same desire of the success of the company. 😊

Posted using Partiko Android

Brother's very good post

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