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RE: Steem Debates: Delegation - Helping The Rich Get Richer?
I'm against the delegation system, it certainly reduces the incentive for both individual investors and projects to invest Steem power. There were quite a few times I actually think about buying Steem and power up, but then if you compared to the 1 million SP they delegated to projects, even if you buy 100k or 200k, it's comparably nothing much, especially under current price...
Interesting point of view, which I had never really considered...
Can you elaborate a bit more please. How does a delegation (or group of delegations) effect your potential investment?
Let's say for instance you buy 100k Steem, how would you want to use that and how will delegation stop or hinder you?
PS: Thanks very much for your contribution to this article, I highly appreciate your comments and any subsequent feedback.
Cg
Nowadays most whales voting with their euther pre-mined or invested stake stopped so the biggest voters (except bidding bots) are mainly those project that recieved delegations from steemit inc (´s ninja mined Steem), then i was wondering why we cant just let these project invest sp on their own, or let the investors decide which project they want to invest?
This is true.
So is it a case that, you don't want to invest because you don't agree with how they are using their delegation?
Or is there some other reason that makes your potential investment bad?
Cg
I feel even if I invest, say 200k, my vote doesn't worth much compared to the delegated projects. So I doubt if there would be new investors coming, cos new investors are important for Steem.
Ah I see, so you're afraid that new investors won't come behind you, thus making your initial sum worth less?
Okay that makes sense, I get it I think.
Cg
I can answer your question. In last week I was discussing with another steemian about my plan to invest 200 USD. He just told me that if u r investing 200 USD then consider that the worth is 66 percent. I asked why? He replied-- because 33 percent of supply are ninja mining token held by steemit and that can very well be used by others in the for of delegation. Then I finally I dropped the idea of investment in Steem.
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Yes, but you're not buying that Steem from Steemit's supply, you are buying it from an exchange. The premined Steem has been given out and mainly sold by now.
Cg