RE: Witnesses, please make voting simpler, not more complex. Don't approve HF 20 without some changes.
We really do need more awareness around this. Most users just know that things are broken, so when a solution is presented everyone cheers without understanding the implications.
The biggest problem with steem is it's essentially an inflation war, and in order to win you have to outpace inflation with selfish voting. The economics of social media is all about attention. Network owners make money off the social attention of others. Steem as it is right now is built on the backs of dreamers who are grasping at any alternative to incumbent social media, while a circlejerk of bad whales write the same old story all over again. The dreamers get fooled by crumbs. In order to engage normal users they have to have an effect on the system, otherwise they might as well use REDDIT where their vote actually matters.
In terms of monetary distribution, what is the ratio of minnows/dolphins/whales and how does it change over time? I'd like to get the data on this, but it's pretty bad news if it has continued to trend towards whales instead of building a larger base of minnows. As long as big accounts can accumulate faster than a fair distribution to wide range of smaller accounts, nothing will change with steem at it's core.
As both a user and an investor I can't take much more of this. I'm waiting for fixes and hoping to build, but i'm already looking for better solutions. I'll be sticking with steem for a while longer, but if HF20 is pushed through that will probably mark the beginning of my exit from steem.
Agreed. The fact that the money-making aspect of the site conflates with the purported intention to identify worthwhile content really drags steemit down, and though there are attempts to control what becomes visible on other websites via astroturfing efforts, influencers etc. by corporations on other websites the average user isn't completely stifled like they tend to be here.
https://steemit.com/statistics/@arcange/steemit-statistics-20180704-en
Breaking apart the amount of the pool that goes to different sized users it's quite clear that it's mostly a few of the dapps and communities that give votes to smaller accounts and mask the problem of where new inflation is going, otherwise yes, it would be nearly all self and circular voting between similar-sized accounts. The trend of more SP getting powered down and funds moved out of the system instead of back in hasn't reversed, which also accounts for a slight shift in some of the brackets over time.
Yeah, personally I'm just here because other people are here, I've just been trying to make a handful of trades with the funds I've been gifted so that I can help people however I can, otherwise the changes over time haven't really been my cup of tea.