STEEMIT RED FLAG: A growing wealth inequality looming?

in #steemit6 years ago (edited)

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Is it really true that 107 votes gives this channel only 10 dollars? If so then we may have a major problem.

And this is for a creator whose target audience is very old compared to the DTube site -- among the first large ones. Here is a creator who's been posting vlogs everyday for a month, making a little over a dollar for the same amount of likes:

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A lot of the normal Steemians here that aren't doing this full time aren't gathering the wealth enough to distribute enough to each other to stay afloat. A large amount of the voting power is concentrated with those in the top 1% of Steemit, a group of people dubbed "the whales".

The rest of us get cents and receive cents unless we work up a HUGE amount of time until we get a living wage from the site, or until whale accounts spread percentages of their voting power down to the smaller posts, which may barely ever be seen.

All of this is while the STEEM coin has lost over 80% of its value since the beginning of 2018, taking the purchasing power from the entire community with it:

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And the market cycles for this coin are estimated to be around a half-year long, so we may not see another price boost until June. This sounds like a recipe for total disaster years down the line. Imagine if you relied on Steemit as your source of income because you couldn't find any other job?

Imagine if you were making mere pennies a day while rent and food cost hundreds or even thousands per month in families.

Imagine a massive, systematic-level growing wealth inequality: The very top being shown and making a living wage reproducing whatever the future algorithms say attracts the most attention (look at how YouTube turned out), and the bottom, hardly able to find good content and relying on a sea of robots to vote on, comment on, and spread their posts.

Imagine it, because I see this happening. Even popular bots like @resteembot have programmers behind them that sometimes can't make a living wage. What happens if this platform isn't under our control, but is trying to control us?

An urgent message, I think it needs an urgent discussion.

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Good question.
A serious issue which I'm happy you addressed.
We can see and feel the toughness of building an account here. Not to mention the uncertainty of the platform as a wholeness.
I (we) have already invested a lot of hours into Steemit... And for myself I must say, I'm still not sure what I'm doing.
It's probably one of the hardest versions of a social media to master...
I don't know, I'm still too fresh around here.
Can't wait to read some elderly comments.

Even with my reputation of 50 I'm pretty new here too; I still haven't made a consistent schedule nor income and most of it has been eroded over time. We will see how things go once I start posting daily or twice a day.

both of you just got my 0,00dollar worth of vote.. but a 100% power of 0 dollar.. yeah!
Steemit seems like something that could have been really great for all, but now with a lot of monopoly power at the top, reluctant to spread the wealth oportunities that Steem actually has!

But on the other hand... We're just a couple of minnows being unsatisfied... :)
If you look it from the whales' point of view it makes sense to me.
In Steemits defense. Did anyone get anything from any other social media?
Still, there is a huge difference between 0,00 and 0,01.
Besides, there should be a reasonable difference between someone who's here since the beginning, possibly with investments, and occasional minnow lurkers similar to us.
And also, @atherz, your post is based on speculation... Although it's fun to talk about it, it's "just" a theory.
Can you imagine Steemit going really popular? :) Probably very chaotic...
Donno.
Every system has its pluses and minuses...
Facebook... Hahaha :D ;)

It probably isn't that smart to take the situation so negative.
We should have more fun and post more royal stupid crap to have something to laugh about. ;)

Finally we are all in the same boat. Steemit is a meritocratic system and with it comes the distribution of wealth. Each system has flaws so Steemit but meanwhile with each hardfork the system got improvements so things like linear rewards vs. non-linear rewards. There are other important things i think about:

  • witnesses who are responsible for stabilization which were here from the beginning and still running nodes
  • first Steemians which invested their time and maybe money with high risk to loose everything

A recognized Steemian commented under one of my posts in german, here is my free translation.. "you should get more rewards for your posts (because he likes my blog), maybe consider better networking because Steemit is a social platform.."

..and he was right, because i had the gut feeling my networking ability is not the best and he hits the mark. So in my point of view it's always better to watch yourself first because: "Do you exactly know why the reward is so low for the many votes in the example above?"

I can tell you there are bot services where you can easily get 50+ upvotes for 1 SBD and get far under a dollar payout, because these services are build to distort the public perception of a hot post. But as you can see the result is that you as recipient wonder about such low reward.. because there is a discrepancy between the many votes and low payout.. and you think..

There is something wrong!

At this point such services are a complete fail because i think also other Steemians recognize it and such things are not a system flaw, they are belong to the behaviour of a Steemian.. i don't say the case you mentioned is something like that, but it is an option.

But Steemit has so many options with bots alone, behaviour, content to build your presence i think everybody has a real chance but it is like in the real world you need much time to find your way and the search is the whole life! Freedom is also great responsibility.

btw: you make great music! 🎧👍 I consider to revive my DSound TOP5 where i had one of your wonderful tracks.

Thank you so much for listening to my music :)

And yeah, I'm not sure what we're going to do about it -- this reduction in funds paired with a weak search system and the fact that we can't delete our posts after a little while (meaning that everything we post can be used against us)...

Surely some people are keeping track of the developments, I just spot out the problems. (i.e. SmartCash and other Steemit minnow communities give me a weird cult-ish pyramid scheme vibe.)

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Imagine the highest levels of power taking control of the crypto markets at the height of the bubble, and then draining the global economy until everyone had to rely on mining and working to create so-called "digital illusions of wealth" while the value of said wealth was routinely diminishing as it fed the beast at the top

Pretty dark stuff, I'd like to think there's some hope though.