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RE: HF21 and the Steem Vision

in #hf21 • 6 years ago

Trust your gut and don't be baffled by BS. The principles of business and investment are simple. Profiteers today receive almost all the rewards, leaving creators such as you and I less than 10% of it. EIP will increase the profits of profiteers by 40%.

What does you gut tell you will happen?

Even more of the value of Steem will be extracted before it increases the value of the underlying investment vehicle, Steem, and the price of Steem will crash. Millions of Steem are now being powered down to sell before the crash.

You know what will happen, because you have common sense. EIP is designed to extract as quickly as possible all the value from Steem so that it can be sold as quickly as possible. @steem is powering down.

Trust your gut. Don't be baffled by BS.

6 years ago in #hf21 by
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         6 years ago 

        That is a very bleak future you see. I will wait a bit and see what happens. I dont think those that proposed the system would want to destroy their own investment.

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               6 years ago 

              When writing becomes visible on walls, even if you don't grasp the basic reasons it got there, you can act to avoid even more harm. That's what I think is the case here. The lolbertarian devs know code, but have no experience investing. They came up with unlimited manipulation via stake to impact quality of content because that made sense to them, and people project their grasp and morals on others.

              They may yet not recognize that the idea can't work because folks are far more likely to simply maximize their immediate financial returns, rather than care about what the manipulation mechanism - people's posts and comments - say. The constant failure of the idea of whale curation simply doesn't leap their cognitive bias and enable them to grasp reality in this matter. That's really the least scathing speculation I can come up with to explain the present circumstances.

              While that may create exactly the situation I predict: a crash in the price of Steem and profiteers bailing, that isn't necessarily the death of Steem. It could be just a setback pricewise, and allow investing experienced or more rational devs to gain the ability to implement sound code that does encourage investment. In the long run, that would be very beneficial and the incredible potential of Steem to form a basis for incorruptible votes on every issue while simultaneously providing funding could create a real form of government that hasn't existed before.

              I'm here for the free speech, and that doesn't appear to have been sold off with the marketing department. I'll hang on and see what happens too.

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