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RE: Falling STEEM/SBD Price - Proposed Solution to the SBD Debt to Marketcap Ratio Problem

in #steem-price8 years ago

no, what I'm saying is that right now the whales consume 90% of the voting power, which is the main problem, while it would be a much smaller problem if there were in total at least 100.000 users, but ... that will never happen because none of the whales are willing to take any responsibility for their own actions ...

I already read that post; he got a point, but no solution

steemit was meant to be decentralized, but ~30 people control everything and they're so full of themselves that even after months of failure; it's not just the price that's crashing; users are down, posts are down, comments are down ... yet, none of them is willing to ask themselves what it is they're doing wrong ...

this while Rene Descartes already solved what's at the core of this problem more than 300 years ago ... such a disgrace

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no, what I'm saying is that right now the whales consume 90% of the voting power, which is the main problem

Curation guilds have a good chance of helping with this problem. If more whales delegated their voting to groups that can take the time to do good curation, then it will be better than someone who isn't a good curator (but holds a ton of power) from making all the decisions on what to do with their power themselves.

There is also a trend (a very slow one, but still a trend) away from the centralization of power. If you look at a 2 year horizon, it probably won't remain this way long-term.

I agree though that if you look at the situation today, that is one of the larger problems with the site/platform/community.

Interesting. I hadn't thought of that. So I will concede that it would at least work. It will still never happen though.

A lot of whales are actually doing good with their voting, and an even larger majority at least think they are. So in their minds, giving up their voting and letting other people have more control, because who doesn't think they are doing the right thing :)

Also, out of curiosity, if the whales stopped voting it would basically be up to the 'dolphins' as to who got all the votes. What is to say that this group (and the minnows who now also have more power) would do a better job promoting content that was in the platform's best interest?

K. I won't get into the you vs. Bernie thing, because I agree it is besides the main point. The main thing is the 90% of the voting power across all the whales. To that, I added a reply to one of your earlier comments.

Yeah, I realized that was in there after I shared the link with you.. I know you have an issue with him. I don't share your view, but I do know he used to be different. He used to be one of the few whales that was actually spending time to truly curate and upvote posts that were underpaid but deserved to be making money. He still kind of does (through Curie), but it is not the same as before.

the whales are consuming 90% of the voting power and that's the problem!

I see what you are saying. Basically you want the whales to stop using their influence. Whether I agree or disagree with you is irrelevant. It's not going to happen.

Also, the point of my post was basically knowing that there is not going to be a way to literally stop whales from using their influence, the best we can hope for is to make the case for them to use it in a way that we more agree with.

Continuing here due to nesting.

the whales are consuming 90% of the voting power and that's the problem!

I mentioned it in my other comment, but basically whether I agree with you on this or not is irreverent. The reason is because it will never happen. There are a lot of reasons for this, but here are the main two:

  1. Many humans are selfish, and are going to act in their own best interest. You can make the case for "this is for the good of the platform" but very few humans are actually that altruistic.
  2. It will only work if every single whale agrees to it.

I actually believe that there are more 'good' whales than 'bad' ones who will genuinely do what they believe is in the best interest of the platform over themselves. So let's assume we get 90% of the whales to go along with your idea.

The problem is the 10% that are left. You would actually be giving a 100% increase (1000% actually if you count the n^2 algorithm) in voting power because they will be the only ones with a large stake in determining what posts get huge upvotes.

The worst part about it, is these people who didn't go along with the plan are the exact ones that you would not want having the power, because these are the ones that are arguably acting in their own self interest, rather than handing over their voting power for the good of the community.