I'm new to this platform still. So far all I see are bots and whales who are selfishly killing the platform. Of course there are exceptions, but there are many who are guilty of this. It leaves a sour taste in the mouth of any new user and creates a massive barrier to entry for the little guy who has just joined. I have to question the wisdom of staying here under such circumstances; which is sad because STEEM has great potential.
I would like to see a ban on bots, no resteeming, the end of reputation scores, anonymous voting and no promoted or trending posts. This would encourage the upvoting of genuinely good content.
I don't know if this will fix the issue we face.
Who knows? Probably just academic anyway, I doubt anyone cares to implement my ideas! But I fear that the current path is unsustainable.
Some good ideas but they won’t be implemented as it would kill off the whales who hold over 90% of Steem and so the vast majority of the influence. What incentive would their be to hold $1 million in Steem if it gave you nothing in return?
Easy. If the platform does well and grows more popular, then their STEEM will increase in value. They may lose influence, but they'll gain monetary value.
Why will Steem increase in value? The value of Steem is entirely independent of the number of users on steemit. People buying Steem is the only thing that will make the price increase. Therefore for the price to go up, there needs to be an incentive to buy and hold Steem. And if you remove that incentive, people will sell not buy!
Are you familiar with Metcalfe's law? It applies in this scenario.
Iam well aware of Metcalf’s law, however in an open system such as Steem where Steemit is not the only function operating on the Steem blockchain, an increase in users alone will not drive the price higher.
In fact, if some tip named youtubers joined Steemit, they will be withdrawing their earnings putting downward pressure on price!