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RE: Is Steem a ponzi scheme?

in #steem4 years ago

There are people who keep devising ways of raping the reward pool, some of them are whales, really big whales, and they have become untouchable, and a law to themselves... What can one do to such rapists? Flags and downvotes wont work on them... They have too much steem power. If these bigwigs can be humbled to do what is right here on steemit... Then steemit can really attain the great heights you and i envisage for it.

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I think we need a combination of education to build consensus about voting and protocol changes to fix the incentives for curation so that it's more profitable to vote in healthy and sustainable ways. I'll be talking more about the changes I think should be made in the future, but the education is most important.

Though i agree with you on the education aspect, however it does not make the problem go away... Educational talks even if they shed light on how things should effectively run, if they are without implementation of proper regulatory frameworks that treat all steemit accounts fairly and equally with no preferential treatments to larger stakeholders (a feature steemit lacks), am afraid it will be all in vain. Any action plan must be targeted at curbing the excesses of errant steemit whales, or the heart of the problem will still remain.
Thanks for your upvote. Big ups!

It's also cyclical. Without the education we'll never get the necessary support for the protocol changes that need to happen. I strongly disagree about giving all accounts equal voting weight. That would result in on onslaught of shills and vote bot accounts and would make the situation much worse. It's appropriate for those with the most invested in the community to have the must influence, as they most bear the consequences of success or failure. We need changes, but not that one.

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