RE: Justin Sun, This is how you win our support...

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RE: Justin Sun, This is how you win our support...

whatamidoing in #tron • 5 years ago

Perhaps I don't know enough of what goes on behind the scenes, but I can think of a bunch of witnesses who have helped solve a lot of problems, at least as far as I can see.

If he wants to have some influence over who the witnesses are, there are other ways he could do it that give more say to the community than just dominating it himself as the majority shareholder.

As far as driving people off the platform, I can think of far more people who caused problems who have been tamed than decent people who were driven off the platform, although once again, I don't know a lot of what goes on behind the scenes.

5 years ago in #tron by whatamidoing

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valued-customer 5 years ago

The rewards distribution mechanisms have been carefully calibrated to deliver ROI and over 90% of rewards to whales. This has not been done to kick people off the platform, but has been done preferentially to keeping new users on the platform.

Clearly, PoS delivers governance to the largest stakeholders, and they haven't been men of vision, but instead properly concerned with financial prudence and management of their stakes.

The one thing Justin Sun needs from us to be able to bring his marketing and onboarding competence to bear on Steem is raising retention to industry standards, and this necessitates reining in profiteering by whales such that new content creators are nominally encouraged to stay.

We continue to bleed highly valuable users today. We've managed to curb the incredibly blatant vote buying (Srsly, you could have knocked me over with a feather when EIP worked to do that) but we need to do more.

When we can retain ~50% of new users that come here, then Sun has good reason to undertake bringing us new users, because we won't just allow whales to mine their content for ROI, but will allow that good content to deliver them rewards that encourage them to stay and keep making it.

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whatamidoing 5 years ago (edited)

Thanks for that clarification. I totally agree with the sentiments. Is it really 90% now? I kind of lost track of the drama because I was just so thrilled that we curbed the bid bot issue, I see a lot more people getting decent payout, the trending page isn't as ridiculous as it used to be and most of the larger accounts I know seems to vote outside of their circles now.

I don't really think a CEO cleaning the deck is the best answer to anything. Even just the CEO having the ability to do that makes this platform start to resemble the mainstream social media most of us are tired of. I see any massive concentration of wealth as an eventual threat to any ecosystem, and steemitinc has always had the biggest share of wealth. The only benefit I can see to it having that is to use that stake to create as large a middle class as possible.

What do you propose?

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valued-customer 5 years ago

I will presently make a post to elucidate as fully as possible these principles so that better minds than mine can undertake the best means of moving forward. EIP and my shock that it worked as well as it did well reveals that I should be but a minor part of that development of governance mechanisms.

Thank you for your kind words and the OP that brought this understanding to fruition in my mind.

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valued-customer 5 years ago

https://steempeak.com/steem/@valued-customer/a-new-day-dawning-sun-arisen-and-our-present-opportunity-to-shine

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