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Thanks. 50k is a bit too much for me to hope for anytime soon without going all in. However, that's the ultimate goal of mine. I want to get half way there next. Seems like youbare on the home stretch.
On the most points you mentioned im your opinion, but the decentralization of steem in reality and at the current circumstances is not that good.
At steem the only parameter which defione the vote weight itself is the stake the voter can use.
So especially in this case and at an dpos chain the (initial) stake distribution has to be faire. But the initial steem distribution was definetly far away from fair etc. So yes there is a selcetion of 21 witnesses, but there are a few big stakeholders who can decide "alone" who wins.
As illustrated by the results, the distribution of weight of votes in witness election is heavily skewed, which
suggests that the election of 21 witnesses may be significantly impacted by a few big shareholders, This phenomenon may not be a good indication for a decentralized social media platform.
And the reward system (okay its like every reward system) does not work with a little userbase, the userbase ideally should like represent the whole humanity (so that every user can connect with other users with same interests, age etc) or a specialization on specific groups but therefore you need way more users too.
And the biggest question i think, is the voting system, that the stake is the parameter to define voting weight good enough to enable fair content reward...
very risky investment, i hope it will pay off! (okay otherwise every investment is risky, like there could be some "gold asteroids" who can minimize gold price and so on...:D)
i think its definetly better then dollar and euro:D (and makes fun)
I do see the problem with the distribution of Steem. It's not as bad as other chains and will hopefully get better.
I don't really notice anything the witnesses have soecifically done that kills the value of Steem entirely. We have to considered where the majority of inflation is going. I suspect the whales do earn less of that than their proportion of the stack would earn them in a different model.
It's definitely risky to bank on increased adoption and increased value. I think as steem becomes more and more decentralized and we see vastly different communities arise (so far most tribes are little more than a tag and a shitcoin), we may see interests increase and prices rise.
SMTs should offer protection from the whales since if they try and steal it, you can bet the communities will hard fork off in a hurry.
Congratulations on 15kSP! 20kSP is my target before the end of the year then I'm staying put on buying unless prices stay where they are. Just another 3k to go.
Orca by end of 2020? Maybe.
As for developments, seems steem is going through a big transition at the moment and those who have stuck around will bear the fruits in a few years time.
Personally, gaming and entertainment (music, videos etc) is where the real appeal of Steem can lie. If those things get developed then there will likely be an increase in price that we're hoping for but until the next hard fork when communities and SMT comes in, we'll just need to accumulate.
Steem itself may not be the end token but RCs... Very handy for creating new accounts. Get a big gaming company on board and they'll need to create accounts for their users via RC... One idea anyway
Thank you!
I won't get to 20k by the end of this year. I will buy a little more, but probably only a couple hundred dollars worth. Maybe I can get to my 18k goal? Definitely top 1000 Steem holders. I doubt I will be an orca by the end of 2020, but stranger things can happen.
I also think Steem is going to do well and going through growing pains now. I've seen so much improvement in the past 2 months. Small things that bother me now weren't even on my radar back then compared to the issues that used to exist. I guess by 2nd half of next year, a lot of people will regret not buying more steem. Maybe even crypto in general too.
Gaming and entertainment will probably do well. I think creative things, in general, have a chance. I am above the average blogger now. But I hope Steem gets to the point where my average blogs are considered junk and my best are considered alright. Most posts belong in an offbeat tribe making barely any money (my lunch or my family vacation, etc.). Only those people pay or will pay to read/consume and those which fill another purpose like advertising or being made to order will do well. Once that happens we know Steem has made it.
Gaming is definitely a good one, especially forums. People will pay for tips and advice. Lots of people will gather and ads can be sold and users can be paid based on engagement levels, etc.
Personally, I would eventually like to see most Steem inflation stopped at some point. We are definitely not ready for that yet. But once several good SMTs come out, people should just be earning those according to their rules. Steem inflation would only go to the dao and witnesses.
Don't know why your reply was downvoted really but it's a funny old game out here...
I think after seeing a little slump happening now, looks like that Death Cross really is starting to bring a bearish downturn in the last couple of hours... not bad timing with pay day tomorrow and a lovely bonus to go with! Clear the credit card debts, pay the bills... 20kSP in sight!
The fact that there is still so much development happening on here in all this nuclear winter fills me with optimism that the platform can kick on once communities comes in.
To be honest, if you have fans and followers and you know you put in effort to make your posts, then you'll still get rewarded for it. If 10s of millions, maybe more, start using the platform, then one person's average might be another person's "wow" - it's too subjective to say otherwise (apart from the obvious).
Inflation is reducing each year, I believe it halves or something like that each year until it gets to 1%? Don't quote me on the numbers exactly but I know there's been reductions happening or programmed in to the code.
One thing's for sure is that this time next year, the place will be unrecognisable from where it is now!
Oh don't worry about that guy downvoting me. He is out for revenge and censoring my comments regardless of anything.
Steem is looking good, but there are chllenges ahead. If it stayed above 1 dollar, maybe I would have 2k by now. It's a chance. I don't know how I will feel about having so much invested if it increases as much as I think it may.
Inflation is decreasing and there are calls to decrease it even more. To be honest I feel post rewards are still a little high for decent stuff. However, a little mpre time needs to go by to deal with some persistent abusers (like the guy targetig me and those upvoting all his offensive comments.)
Ah yes, the good old "over reaction" to a downvote 😁
There's definitely challenges ahead but I agree, steem is looking good, or at least, a lot better than what it was. As long as you have a job that gets you regular income then you don't need to worry. Taking profit when prices start moving in the direction we want it to is always the smart move!
Oh post rewards are definitely too high, let's face it, anything above $50 is probably too over rewarded (I only had one post that did that but then, the community responded with over 170 comments so probably the right amount). Value can be measured in comments and interaction as well as the reward associated.
Steem was very sick before hf21 but now we are seeing the medication slowly kicking in and it will be a long road to recovery.
Under the old Steem, it was a common belief that an individual's post wasn't over rewarded until it was around $150 to $200 depending on who you talk to. Now most people I talk to feel it is around $30 to $75.
In any case, you are pretty safe with that much engagement. Also, I remember that post and it was obvious a lot of effort and thought went into it. I haven't got that many rewards recently on a single post, but my post average is way up which I like.
I agree it was sick. It will get better. Even if the price doesn't recover as much, I know more and more of the inflation is going to good people which will not make me so upset if my investment doesn't payout. At least I know I'm not just helping con-artists and scammers mostly.
Yea I'm getting consistent payouts at the moment for the music blogs which are OK but I think the real good stuff is either travel or crypto posts - seems that's what gets people going around here!
Glad to hear you're not helping those folks out! I hope I'm not either (unwillingly) haha! Even with BTC plummeting, the actual STEEM price in sats hasn't been too badly affected. I think once some of the big accounts that are starting their powerdowns (and will dump on the market), it will create a fire sale and I'll be keeping fiat reserves ready for that moment because once STEEM exchanges hands to "good eggs", it will be a more valuable token.
Speaking of loading up... pay day with a bonus today, this dolphin just got a rocket pack! Time for Mark II baby!
I congratulated you yesterday by accident for reaching 20k SP because of your post (commented before reading, lol)...but I revised it after checking.
But it ooks like you made it now. So congratulations!
You've got serious influence now and room to delegate, too.
Some of those whales selling have lost a lot of money. But since it is unclear how they got their money to begin with and since it looks like they have enough to invet, I'm not too worried about it. Besides selling for this price is their decision.
Haha I did see you edited a comment but now we're good to go. In fact, it was you who inspired me to get up to 20k in the first place so thank you!
And if those whales are selling at these cheap prices, I'll happily buy their steem off them. It may send the price down a bit in the short term but RCs from steem will become very important to create new accounts, particularly for games and the like.
Dlease is now starting to be a little less profitable for delegators as more people are cottoning on but I'm still getting about 16% ROI although market average is now 10%. Ocd is around 8% ROI but I'm experimenting with curation trails and then will report it in the next Bluffer's Guide.
16% roi is good. Without selfvoting or trading, that is actually hard to beat.
My curation efficiency is around 50% now up from 40 after tweaking what I will and will not vote for (ie. people who normally get a ton of vote no matter what quickly). At 50% curation efficiency it's around 2 steem per 1000sp per week or 10.5% a year. As long as your delegations make more than that....continue. The sp inflation still goes to the original owner (notice the amount slowly growing)
A secret for curation trails is use a program with a lot of options for tweaking (i use steemrewarding but am considering making my own from a github source). I don't follow ocd because they are too big and getting their vote is already awesome. I find my curators to trail from asher's weekly list. I oicka person near the top who votes on things I generally think are ok (i scope out their votes, make sure their csi is decent and they arent just voting for same people or crappy topics like appics and actifit only or sniping curation hard). I also exclude votes on certain individuals (including myself incase they vote for me and I follow selfvote) and those that are already above like 15sbd or 150 votes, declined payout, comments, etc.
I'll still manually curate anything I like. And engage just as much as before.
You know me mate, don't self vote, which horrifies me when I see my vote appear on my own post when a curation trail I follow votes for me haha!
With the curation trails I follow, my average curation efficiency is about 42% but I don't know what's a good marker or not and as time has eluded me in recent months, I'm not aiming to be a master curator, just sprinkle those upvotes around and get a bit of a bonus back whilst rewarding authors who post content I enjoy. I'll have to reassess the leases as the ROI on the market has decreased by 4-5% since I started a couple of months ago, if it's above the magic 10.5% I may still go for it but as more people get involved, it might be more profitable to request SP leases and work the curation game from there. Maybe in 2020 :)
Thanks for the info on steemrewarding, I use steemauto and it amazes me that they don't have a "don't self-vote" option!
I've seen the term "Curation sniping" a few times now but not 100% sure what it means. I guess it's those who downvote at the very last moments before post payout or they get their upvotes in really early on auto for curation rewards when someone actually reads the post?
Yes I still manually read things when I can, you know how it goes though, there's a 3D world to live in and can't be on STEEM aaaaaall the time :)
This has been sitting open for 5 days and three of which had me tied to my stove. I do want to come back and read it when I have a clear head. As usual, I scanned it and wanted to come back.
So, before it expires, I've done the "thing" and also wanted congratulate you on your new status.
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I didn’t understand anything - but interesting ;)
Thanks ~
Congrats.
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Thank you ~
Nice parallel with the climbing analogy! And congratulations on becoming a dolphin!
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Thank you. I thought it was a great climbing wall and was saving it for the right piece.
Good job on 15K. My goal is 50 K before prices go back up
Thanks. 50k is a bit too much for me to hope for anytime soon without going all in. However, that's the ultimate goal of mine. I want to get half way there next. Seems like youbare on the home stretch.
Nice, i see you love the risk:D
On the most points you mentioned im your opinion, but the decentralization of steem in reality and at the current circumstances is not that good.
At steem the only parameter which defione the vote weight itself is the stake the voter can use.
So especially in this case and at an dpos chain the (initial) stake distribution has to be faire. But the initial steem distribution was definetly far away from fair etc. So yes there is a selcetion of 21 witnesses, but there are a few big stakeholders who can decide "alone" who wins.
source: https://arxiv.org/pdf/1904.07310.pdf
And the reward system (okay its like every reward system) does not work with a little userbase, the userbase ideally should like represent the whole humanity (so that every user can connect with other users with same interests, age etc) or a specialization on specific groups but therefore you need way more users too.
And the biggest question i think, is the voting system, that the stake is the parameter to define voting weight good enough to enable fair content reward...
very risky investment, i hope it will pay off! (okay otherwise every investment is risky, like there could be some "gold asteroids" who can minimize gold price and so on...:D)
i think its definetly better then dollar and euro:D (and makes fun)
I do see the problem with the distribution of Steem. It's not as bad as other chains and will hopefully get better.
I don't really notice anything the witnesses have soecifically done that kills the value of Steem entirely. We have to considered where the majority of inflation is going. I suspect the whales do earn less of that than their proportion of the stack would earn them in a different model.
It's definitely risky to bank on increased adoption and increased value. I think as steem becomes more and more decentralized and we see vastly different communities arise (so far most tribes are little more than a tag and a shitcoin), we may see interests increase and prices rise.
SMTs should offer protection from the whales since if they try and steal it, you can bet the communities will hard fork off in a hurry.
Congratulations on the 100 years in bloom!.... or was it supposed to be the 3 dolphins?
Lol, actually I completely forgot.
I want more dolphins jumping in the pool next time. Or maybe 30 minnows swimming.
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Congratulations on 15kSP! 20kSP is my target before the end of the year then I'm staying put on buying unless prices stay where they are. Just another 3k to go.
Orca by end of 2020? Maybe.
As for developments, seems steem is going through a big transition at the moment and those who have stuck around will bear the fruits in a few years time.
Personally, gaming and entertainment (music, videos etc) is where the real appeal of Steem can lie. If those things get developed then there will likely be an increase in price that we're hoping for but until the next hard fork when communities and SMT comes in, we'll just need to accumulate.
Steem itself may not be the end token but RCs... Very handy for creating new accounts. Get a big gaming company on board and they'll need to create accounts for their users via RC... One idea anyway
Posted using Partiko Android
Thank you!
I won't get to 20k by the end of this year. I will buy a little more, but probably only a couple hundred dollars worth. Maybe I can get to my 18k goal? Definitely top 1000 Steem holders. I doubt I will be an orca by the end of 2020, but stranger things can happen.
I also think Steem is going to do well and going through growing pains now. I've seen so much improvement in the past 2 months. Small things that bother me now weren't even on my radar back then compared to the issues that used to exist. I guess by 2nd half of next year, a lot of people will regret not buying more steem. Maybe even crypto in general too.
Gaming and entertainment will probably do well. I think creative things, in general, have a chance. I am above the average blogger now. But I hope Steem gets to the point where my average blogs are considered junk and my best are considered alright. Most posts belong in an offbeat tribe making barely any money (my lunch or my family vacation, etc.). Only those people pay or will pay to read/consume and those which fill another purpose like advertising or being made to order will do well. Once that happens we know Steem has made it.
Gaming is definitely a good one, especially forums. People will pay for tips and advice. Lots of people will gather and ads can be sold and users can be paid based on engagement levels, etc.
Personally, I would eventually like to see most Steem inflation stopped at some point. We are definitely not ready for that yet. But once several good SMTs come out, people should just be earning those according to their rules. Steem inflation would only go to the dao and witnesses.
Don't know why your reply was downvoted really but it's a funny old game out here...
I think after seeing a little slump happening now, looks like that Death Cross really is starting to bring a bearish downturn in the last couple of hours... not bad timing with pay day tomorrow and a lovely bonus to go with! Clear the credit card debts, pay the bills... 20kSP in sight!
The fact that there is still so much development happening on here in all this nuclear winter fills me with optimism that the platform can kick on once communities comes in.
To be honest, if you have fans and followers and you know you put in effort to make your posts, then you'll still get rewarded for it. If 10s of millions, maybe more, start using the platform, then one person's average might be another person's "wow" - it's too subjective to say otherwise (apart from the obvious).
Inflation is reducing each year, I believe it halves or something like that each year until it gets to 1%? Don't quote me on the numbers exactly but I know there's been reductions happening or programmed in to the code.
One thing's for sure is that this time next year, the place will be unrecognisable from where it is now!
Oh don't worry about that guy downvoting me. He is out for revenge and censoring my comments regardless of anything.
Steem is looking good, but there are chllenges ahead. If it stayed above 1 dollar, maybe I would have 2k by now. It's a chance. I don't know how I will feel about having so much invested if it increases as much as I think it may.
Inflation is decreasing and there are calls to decrease it even more. To be honest I feel post rewards are still a little high for decent stuff. However, a little mpre time needs to go by to deal with some persistent abusers (like the guy targetig me and those upvoting all his offensive comments.)
Ah yes, the good old "over reaction" to a downvote 😁
There's definitely challenges ahead but I agree, steem is looking good, or at least, a lot better than what it was. As long as you have a job that gets you regular income then you don't need to worry. Taking profit when prices start moving in the direction we want it to is always the smart move!
Oh post rewards are definitely too high, let's face it, anything above $50 is probably too over rewarded (I only had one post that did that but then, the community responded with over 170 comments so probably the right amount). Value can be measured in comments and interaction as well as the reward associated.
Steem was very sick before hf21 but now we are seeing the medication slowly kicking in and it will be a long road to recovery.
Worth sticking around for sure!
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I agree with everything you said completely.
Under the old Steem, it was a common belief that an individual's post wasn't over rewarded until it was around $150 to $200 depending on who you talk to. Now most people I talk to feel it is around $30 to $75.
In any case, you are pretty safe with that much engagement. Also, I remember that post and it was obvious a lot of effort and thought went into it. I haven't got that many rewards recently on a single post, but my post average is way up which I like.
I agree it was sick. It will get better. Even if the price doesn't recover as much, I know more and more of the inflation is going to good people which will not make me so upset if my investment doesn't payout. At least I know I'm not just helping con-artists and scammers mostly.
Yea I'm getting consistent payouts at the moment for the music blogs which are OK but I think the real good stuff is either travel or crypto posts - seems that's what gets people going around here!
Glad to hear you're not helping those folks out! I hope I'm not either (unwillingly) haha! Even with BTC plummeting, the actual STEEM price in sats hasn't been too badly affected. I think once some of the big accounts that are starting their powerdowns (and will dump on the market), it will create a fire sale and I'll be keeping fiat reserves ready for that moment because once STEEM exchanges hands to "good eggs", it will be a more valuable token.
Speaking of loading up... pay day with a bonus today, this dolphin just got a rocket pack! Time for Mark II baby!
I congratulated you yesterday by accident for reaching 20k SP because of your post (commented before reading, lol)...but I revised it after checking.
But it ooks like you made it now. So congratulations!
You've got serious influence now and room to delegate, too.
Some of those whales selling have lost a lot of money. But since it is unclear how they got their money to begin with and since it looks like they have enough to invet, I'm not too worried about it. Besides selling for this price is their decision.
Haha I did see you edited a comment but now we're good to go. In fact, it was you who inspired me to get up to 20k in the first place so thank you!
And if those whales are selling at these cheap prices, I'll happily buy their steem off them. It may send the price down a bit in the short term but RCs from steem will become very important to create new accounts, particularly for games and the like.
Dlease is now starting to be a little less profitable for delegators as more people are cottoning on but I'm still getting about 16% ROI although market average is now 10%. Ocd is around 8% ROI but I'm experimenting with curation trails and then will report it in the next Bluffer's Guide.
All a good fun experiment
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Glad I helped inspire.
16% roi is good. Without selfvoting or trading, that is actually hard to beat.
My curation efficiency is around 50% now up from 40 after tweaking what I will and will not vote for (ie. people who normally get a ton of vote no matter what quickly). At 50% curation efficiency it's around 2 steem per 1000sp per week or 10.5% a year. As long as your delegations make more than that....continue. The sp inflation still goes to the original owner (notice the amount slowly growing)
A secret for curation trails is use a program with a lot of options for tweaking (i use steemrewarding but am considering making my own from a github source). I don't follow ocd because they are too big and getting their vote is already awesome. I find my curators to trail from asher's weekly list. I oicka person near the top who votes on things I generally think are ok (i scope out their votes, make sure their csi is decent and they arent just voting for same people or crappy topics like appics and actifit only or sniping curation hard). I also exclude votes on certain individuals (including myself incase they vote for me and I follow selfvote) and those that are already above like 15sbd or 150 votes, declined payout, comments, etc.
I'll still manually curate anything I like. And engage just as much as before.
You know me mate, don't self vote, which horrifies me when I see my vote appear on my own post when a curation trail I follow votes for me haha!
With the curation trails I follow, my average curation efficiency is about 42% but I don't know what's a good marker or not and as time has eluded me in recent months, I'm not aiming to be a master curator, just sprinkle those upvotes around and get a bit of a bonus back whilst rewarding authors who post content I enjoy. I'll have to reassess the leases as the ROI on the market has decreased by 4-5% since I started a couple of months ago, if it's above the magic 10.5% I may still go for it but as more people get involved, it might be more profitable to request SP leases and work the curation game from there. Maybe in 2020 :)
Thanks for the info on steemrewarding, I use steemauto and it amazes me that they don't have a "don't self-vote" option!
I've seen the term "Curation sniping" a few times now but not 100% sure what it means. I guess it's those who downvote at the very last moments before post payout or they get their upvotes in really early on auto for curation rewards when someone actually reads the post?
Yes I still manually read things when I can, you know how it goes though, there's a 3D world to live in and can't be on STEEM aaaaaall the time :)
This has been sitting open for 5 days and three of which had me tied to my stove. I do want to come back and read it when I have a clear head. As usual, I scanned it and wanted to come back.
So, before it expires, I've done the "thing" and also wanted congratulate you on your new status.