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RE: How could Steemit help with world poverty?

in #news7 years ago

I'm still getting my head around the economics - but I'm not sure that the 25% thing is as you say. There's the reward pool created by inflation - it's not 25% of that going to curators, more like 18.5%. And remember - most of the curation goes to those with the highest SP.

As far as I can tell, 93% of all Steem is held by about 100 accounts. The top 1% of accounts ranked by Steem hold about 96% of all Steem. The top 1% of accounts ranked by SP hold about 75% of SP, and I think if you rank account by SBD, it's about 87% of held by the top 1%.

Unlike the wider economy, I'm not sure that the rich are getting richer. But the economic pyramid comes to an exceptionally sharp point in the Steem world. I don't think inequality is automatically a bad thing, but we should ask how much good it's actually achieving.

I genuinely hope you are right about the future of Steem, but I don't think that future is guaranteed.

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Yeah a lot of what you said is true, but I gotta emphasise again: 25% GOES to curators. IRL that doesn't happen. Negative money goes to the poor IRL, because they use their gains to sabotage the system.

Numerically speaking a tiny kick in the opposite direction is all that's needed reverse IRL trends, and this isn't a tiny kick, it's a complete inversion.

Just my opinion, but I don't think there's anything wrong with classification. I think there should be poor, and should be rich. What I care about is whether or not being poor ruins your life, and if you being rich means you can ruin other people's lives. On a base level in steem having lots of money means 1. You have to create valuable content; 2. you have to give away a significant proportion of it through.

I might be crazy here, but I think that eventually a psychology shift may happen here where people stop identifying what they do for them and see only what they do for others, because you posts are valued based on how much value they provide. But that might be crazy...

Oh and another key point: IRL the rich make money by exploiting the poor. Obviously that's not good. Here the rich make money by working for the poor and providing content to them.

Like I said - I hope you turn out to be right.