RE: Are the selfless delaying the inevitable/essential?
Hey @taskmaster4450, would you mind elaborating a little bit on this:
If the blockchain had 10M people with 500K active each day, much of what is discussed would not even be an issue.
I'm wondering what you might be referring to specifically, and how having more people on with a limited sized reward pool would actually make what we're discussing no longer be an issue?
Just to be clear, I'm only seeking to understand how that can be, so I can better understand how this platform works.
Also, from the last video the Steemit crew did as part of someone's interview, one of them said they've been manually processing the accounts. I don't know if that's still going on, but it sounds like it. And since they're planning to open the flood gates with HF 20 Velocity, it may continue that way until the HF 20 drops.
Most of the reward pool goes to the authors. The more people who sign up, the more that pool is diluted. This means the distribution of the newer tokens favors the smaller accounts since there are more of them. In short, the few large accounts cannot produce enough content to deal with the overwhelm. They could vote bot all they want, instead of $600 on a trending page, they get $40...still a nice sum but not the overwhelming amount they have now.
This means an acceleration in the distribution of the tokens. The whales, as a whole, have been getting weaker over the last year. They experienced significant drop in their percentage of ownership. More people will make it go down that much quicker.
As for the manual sign up, I believe it is still in effect. You could be right that they are waiting until HF20 before changing it. I saw a video where they said they had something else they were working on...I guess it didnt pan out.
Okay. So more smaller accounts, the less there is for the bigger accounts. So that helps the smaller accounts, but not sure how that keeps the bigger money here? Delegation maybe? I guess it would depend on how much each smaller account is getting.
Okay, well, that helps explain that.
Interesting on the thing they were working on not panning out. I should probably check that out, too. :)
This an interesting aspect of growth that I hadn't considered, but surely the degree of dilution of whale rewards depends on the ratio of rich to poor people signing up? I.E. if for every 100 'normal people' who sign up, we have one multi-millionaire haejin clone things just stay as they are?
This would make sense to me. Hopefully this isn't the ratio we are looking at!
Could the fact that the bigger accounts are experiencing that drop be another reason why they are upping the anti on profiting via the self voting etc?