How is rewarding yourself any different than staking which is offered on many (much more successful) cryptocurrencies? Do you not believe staking encourages holding (powering up)?
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How is rewarding yourself any different than staking which is offered on many (much more successful) cryptocurrencies? Do you not believe staking encourages holding (powering up)?
I put thousands of my hard earned dollars into steem power as a gamble that the price will go up and I get some nice residual income coming in... how can that be so frowned upon... Dash masternodes require locking up dash to earn money so why not lock up steem for self voting?
Because we are not just straight proof-of-stake.
The reward pool has a network and, if there is no sort of value being added to the network, it makes the rationale to participate much less compelling.
When I say value, I mean knowledge, art, music, humor etc etc.
The "stake and take" mentality is a slap in the face of every one of the users that strive to do the above.
It cheapens their labor will the lazy stack coins... Coins that will degrade in value as inflation continues while the pool of those willing to buy those coins diminishes.
I used this same analogy on another comment.
Would a moth be attracted to the lamp lest there be a light? Be the light.
I put thousands of dollars into steem just to get #bitchslapped every day here! Don't complain, you got it good here!
You should probably stop downvoting people then
Self voted to offset retards downvoting me
This is unsustainable! Get off you're high horse!
Me and poor Joe can't even be seen!
Only if people aren't selling that inflation at lower prices, right? Just wasn't sure on your meaning. Thanks!
See what your problem is.
15% of 8.396% Inflation = 1.259% NOT 12% ...
I was wondering who was going to point that out to him.