Ned Scott, Steemit CEO Says: Influence-based / SP Weighed Upvotes Ain’t Fair

in #steem4 years ago (edited)

Yesterday, Steemit CEO @ned spoke at the year’s biggest blockchain conference called Consesnus 2018 which is organized by CoinDesk annually. I wanted to watch the live stream for this panel discussion titled “Content Monetization And True Net Neutrality”. But unfortunately it was about midnight here and I was feeling too sleepy yesterday night. So I happened to miss it.

Many thanks to @acidyo for making available its recording in perfect quality. If you missed it, you should watch it too:

Video by @acidyo

It was only a couple of days back that I had watched a very demotivating video titled “Does Steemit have a REAL Future!?“ by Vincent on his You Tube channel:

In this video he emphasized that Steemit has no future as it has no external sources of income or revenue. So Steem’s rates will drastically decline in future and this concept will soon fail.

I’d like him to watch how @ned explains about the source of value for Steem in the above video. Ned is frank to accept that stake-weighted voting system has fetched criticism as it gives unfair weightage to whales or to the people who have more coins. So instead of coin-weighted system, one-person one-vote system would be better for the future. Launch of SMTs will also help to re-align this power equation with many properties and several tokens with different curation systems in existence.

I don’t understand much but I get the message that future has the solution to most of the present day problems with this platform. Whatever it may be but it makes me happy and optimistic as on today. So thank you @ned and @acidyo for bringing this optimism to me!

Let's Steem on guys! 😊

Footer GIF xyzashu.gif



1- users must up-vote before consuming the full article
2- automatically power up and quicken the power down period.

thanks for reading.

Thanks for sharing the video. I just made a post on this from my perspective as a witness for steem and also as someone researching the legalities of content takedowns and privacy in regards new EU legislation:

Thanks for the video share of the conference. At times I was proud and other times a bit nervous, but overall the platform has a long way to go and nothing but open runway from here. The addition of GPT to the platform is gonna be amazing! I can’t wait to see how it goes. You have to be in it for the long haul and diversify your investments! Thanks for the post! Resteem

Rightly said!
I guess by GPT you meant SMT (Smart Media Tokens). Yeah, it's launch is eagerly awaited by everyone here.

Thanks! The GPT (Good Person Token) is a SMT for Steemit. Very soon we will be able to choose to participate in rewards here on Steemit based on Stake Weighted Voting (Steem Power) our Account Based Voting (GPT). There will be two rewards pools moving forward. We get to choose which one we want to participate in. Gonna be interesting for sure!

I think we could have done fine even without SMT's. I think we should lower the payout threshold to .01 though.

Poor Ned was nodding his head in agreement at what the guy began with about how bloggers can make money, and then you can see Ned die a little inside at exactly 1:34.

Halfway through, Ned actually does a good job, but it's a good thing those two other guys are there to help explain things from other angles.

27:47 younow guy clapping that the other 2 took the bullet on that question but 28:07 you can see his emotional rollercoaster on his face as he looks to them to save him from having to answer again.

No dude, democracy and capitalism did not make a long peace, the threat of nukes annihilating the planet forced the big dogs to have proxy wars in countries without nukes and the slaughter continues into the present day.

Skip ahead to 34 to see Ned address the issue of whales and SMTs.

Also Vincent isn't really wrong when he says that it isn't really decentralized, this is true there's a lot of centralization issues, and he's also right that there is outside speculation going on and not much interest in internal use of the coins for purposes other than gambling on their future value.

Interesting moment by moment commentary and analysis by you!

a brilliant idea

Thanks for sharing! Always nice to hear what STINC's mind is thinking. 😎

hopefully SMTs will help, along with better interaction and facilitation with other popular cryptos,,, so everything in the marketplace can flow more seamlessly

Yes, SMTs and Hives will make this platform more interesting and intriguing. But we need these soon.

I find your information quite valuable. Also through you i was able to follow master @ned.
Thanj you for sharing.

Thank you for your continued support of SteemSilverGold

Real life will come in our life an honor can watch the video and read your post @xyzashu

What do you think with your current life in steemit?

What we need to know at this moment is that a tremendous change is happening on the Social Media Flat form of the current steemit, a breakthrough created by @net Scoots in 2016 a very useful recording for all the steeminials around the world, to prepare to be able competing in the global market.

How do your views on steemit become real life?

The fact that the current steeminial feelings mean something to the challenge is that they get something that can produce something quite remarkable, but it's just how net Scoots devised a strategy to win the global market and loyalty to the steeminials


Changes that will occur in the Plat form steemit fore the first step of a very extraordinary success and we will be able to win the global competition.

We win together

Tottaly your ideas are facts

@therealwolf 's created platform smartsteem scammed my post this morning (mothersday) that was supposed to be for an Abused Childrens Charity. Dude literally stole from abused children that don't have mothers ... on mothersday.

Coin Marketplace

STEEM 0.50
TRX 0.09
JST 0.067
BTC 50479.87
ETH 4331.72
BNB 573.20
SBD 6.24