I think SMTs will have the same issues.
I don't mind splitting from people who don't think about the community but just their own wallets. Except of their initial investment, which they cash out at some point anyway - in addition to the steem they made while holding - they don't bring anything to the table here. What they do is making steem a pyramid scheme, instead of a crypto with a real use case.
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Its True,
I think with SMTs Oppinion Flagging can be reduced.
But why should someone invest in Steem? You need to do something with it, because of the inflation. Its the same with money.
With more Usecases like RC Delegation or something like this, the problem could be partially solved.
And dont get me wrong, im 100% with you i dont want any kind of ponzi here.
As more usecases come with Steem, it get value itself.
You think Steem should used long Term rewarding blogging?
I think Steem can be more a Toolbox, for Web applications and development. Because Steem can be for this really usefull for real word problems.
Otherwise i dont know how it should work. If someone like to reward for example "Gaming Content" and the next one think "Gaming content " is worth not a single cent, we have the problem.
The same with any kind of content.
If here for example 10 million user, that like cat picture, makeup toturial and so on. large Stakeholder should only downvote Spam and abuse in my opinion.
Curation rewards + the dividend on SP are enough to beat inflation, even with not-optimized curation. Everything above is rent seeking. And contrary to FIAT, we use the inflation to grow the platform, which makes everyone's holdings worth more in the end. If the platform takes off, the inflation is neglegible. Nobody complained about BTC inflation the last years, did they?
I'm on the fence on the topic of switching all rewards to SMT only. There's benefits and drawbacks. We'll first have to see how SMT work out I think.
Self-rewarding is abuse, all forms of it, be it self-votes, selling votes, or trading votes.
I think with bitcoin is the point users of this think " there are max 21 000000".
So is more about the feeling.
With Steem we need easy rules in code.
Otherwise it is for one user abuse, another think its not.
If we have game rules in code, there are overall force people to use Steem in a good way, there will use it.
Like Self upvote yes but only with 25% power. If you want to abuse with another account, there can be a pattern. If you vote for 1 account more then for example 50%. The reward get cuted ( or 10%).
Think about this like a computer game. Everyone wants to win. If the way you win, all players win, you have a really good eco System.
If the Rules are open, we come to the point we have today.
One say NONONONONONO thats not okay you only reward your followers,
Another say " yes thats the reason im here on Steem".
We can be open for all, or have strict rules in code to force users the way is best for steem.
If the best way to go for one user, the direction is good for all users, we go in the same direction :)
Those kind of rules always have loopholes, or they would be implemented already. If you cut rewards for repeated voting on one account, those who want to abuse just create a lot more accounts.
Of course gamification is an important part of steem. And downvotes are a part of the game ;)
Btw, steem's inflation is going down too, we also have an upper limit of coins that will exist.
you are 100% right :)
There are always ways to abuse. Maybe with cut rules, abusers start to delegate in a crazy way :D
The only thing which will really help is people caring about the community and using their downvotes to redistribute selfishly gained rewards. Be it on steem or with SMT.
I wrote a few posts trying to motivate people, but even with the different trails that can be chosen from people are reluctant. And I can't and don't want to keep writing again and again about the same stuff.
Maybe it needs more time for the culture to change, but if we don't manage to get there I don't see us going anywhere.
All good things need time. I think Steem will need 5 years + to get mature.