RE: RE: Critical Analysis of Steem and Why I'm Invested
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RE: Critical Analysis of Steem and Why I'm Invested

RE: Critical Analysis of Steem and Why I'm Invested

The amazing feature on steem is the paid upvote.

It is. But the problem is that rewarding tokens by minting from the collective money supply has a game theory which means it is a “winner-takes-all” eventual outcome. That is what we see going on now with the 8000 signups per day probably being sockpuppets of the cartel that controls Steem.

This is a structural problem that can’t be fixed. That cartel will never willingly give up its cash cow. It will continue to siphon off as much Bitcoin value as it can from this.

I agree with your idealism. And there will come a better design and project which meets the idealism you have. But it will not be Steem nor EOS, because these groups are as corrupt as can be.

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