The Virtue of Selfishness on Steem

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This is a separate post response to this post by @steevc on the question of HODL SP v. Power Down.

The original post was about leeches who are abusing the system / or otherwise gaming the vote system in order to extract value without providing anything in exchange.

In essence, I agree, but I feel like more attention ought to be focused on the nature of the culture of mutually beneficial exchange, and less on the punitive / shame / guilt concepts associated with taking profit / accepting rewards from the Steem Pool.

Original Post Here:
https://steempeak.com/steem/@steevc/dealing-with-the-steem-leeches

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I think there ought to be some kind of cultural awareness and balance of the fact that people are actually attracted to Steem because they can be rewarded for sharing the content that they create.

You acknowledge this with your "give and take" comment -- but at the end of your article, you sort of extole the virtues of being a good steemian and just HODLing and growing SP to the point where you're able to continue to offer more to others.

I've also seen posts where people are presenting themselves as 'shamed' because they are powering down.

It seems like there's a pretentious culture within steemit that claims that the reason that people are actually attracted to steemit, ought to be put off indefinately. And then people brag about how long they lasted before powering down. I just don't see any reason why this ought to be a point of shame -- like, you earned those rewards. Use them well.

Wouldn't it be healthier just to ackgnowledge that the rewards are a central component of the system here, and that rewards are only useful if you actually take profit, and buy groceries, or pay bills, or invest in your business?

I realize that people who are gaming the system, or at least trying to game the system -- and I understand why the downvotes and public shaming are being directed toward these people.

I just think that in addition to these sorts of punitive measures, there ought to be some more honesty and integrity in the discussion about the reality of the self-interest of each person who is involved on the platform.

Maybe if there was a healthy balance of celebrating income gained by Steem -- Income that was actually used to improve the lives of Steemians, a sort of principle of reciprocity would take place, and then there would be more of a deeper sense of community?

What's more, is that each person's financial state is different, which means that some people are going to need steemit as a source of more immediate support [I think a poor decision], but it just seems like there's a posturing culture here about how good steemians deny the impulses that motivate people to join steem.

It just seems like there ought to be more of a healthy discussion / culture about "Steem helped me get crticial hardware updates for my business," or "Steem helped me pay groceries," or "Steem helped me save up for a marketing budget for my major project release, which I then leveraged into more income via a crowdfunding campaign."

I've only been on the platform for like 2 months now, and we're pretty much at the end of a bear market, it seems -- so it would make sense that this is not discussed -- but I would hope to see posts like that being valued as well as the HODL your SP posts. -- if only for the honesty.

I guess I wished that this dimension was more fully explored in your article.
I wish people validated healthy acceptance of rewards, rather than trying to shame and guilt people into HODLing so the price of Steem goes up.

The issue really ought not be that thorny -- It's the basis of the whole platform, but all I've seen are posts about shame about powering down, and guilt comments about not choosing to stake rewards,

It's kind of obvious that you get more 'friends' if you give out more steem, and you get to be leaders and build communities / hives and you get to make people's day by being a whale or building out a curation trail or whatever.

I guess I'd be curious to overlay the Maslows Hierarchy on top of the SP type of Fish / Marine Mammal club, and then hear more stories about productive / responsible uses of steem rewards, and less posturing or dismissal about one of the core principals of the platform.



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18 comments
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I would not hold it against people if they need to power down to take out money that they need to live. I have withdrawn several thousand Steem at various points. I used it to buy a nice guitar and to pay for my two trips to Steemfest in Portugal and Poland. Part of the reason I have not powered down recently is the low Steem price as I feel it has more value powered up where I can use it to vote.

You will have missed the times when a Steem cost several dollars and numerous people were living from their earnings. I am not sure that was ever possible in the UK. I have a job to pay the bills anyway. I know Steem was making a big difference for people in Venezuela where they might otherwise only earn a few dollars per month.

I had a specific topic for my post and you have covered something else that I am happy to talk about. I do think we need to see a better distribution of rewards. Use of automated voting tends to mean a lot of rewards going to big accounts. This is partly trying to game the curation rewards, but I do not play that game. I send my votes where I think they are needed, even if it's just a few cents.

Steem is a big experiment and we get some influence on the results. With the current low price I think we need to concentrate on building and sustaining the wider community so we can reach critical mass. But if you need the money then take it. Those I featured in my post are doing this, but adding little value in the process and that harms the platform.

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Yea, you didn't say that in your post -- You mentioned the give and take, and you were more focused on calling out abuses and such.

Portugal sounds fun.

I think my post was just coming from a place where I have looked around, and haven't seen anything about people being like "fuck yea, I took money out and it was great, here's what I did."

There's always this tone of regret when they share or something like that. Seems kind of silly.

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Posts are finite and so is the attention span of readers ;)

I'm happy to see people benefit from their work as long as they are not abusing the system. Those I showed have zero interest in the community. Other cases are less black and white.

If someone in Venezuela posts some cool pictures and can pay their bills as a result then that is a win for Steem. They might not have that option otherwise. This is why I want this platform to succeed. I don't care all that much about buying myself more stuff, but should Steem go to $10 I can treat the family.

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That's a cool attitude.

I also woke up and had some realizations - the whale / hodlers who have accumulated a fair amount of SP have likely done so during a Bear market -- and then during what can only be described as an economic depressing in STEEM. I imagine that would make people like yourself basically financially conservative.

Whereas myself, joining in the presumable bottom of the bear market don't have that experience of obtaining steem when it was worth crazy amounts.

For me steem started out being worth ~.13-.16 I think.

Different point of reference.

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I didn't buy any Steem for a long time, so I was not losing anything if the price dropped. I cashed out when it was a fair bit higher than now, but not at the peak. Then my account was worth almost $100k, but I could not power down quickly enough to take full advantage.

I know some who bought when the price was high, but I think a lot have bought recently when you could be an orca for around $6000. That may seem a real bargain in time.

I want Steem to be open to all and for those who need it most to have a chance of earning. There are lots of business opportunities besides creating content. I'm excited to see what happens.

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Yea, that's wild. 100k. That's like my entire ambition for a career. House costs 80k.

When / if they change the power down to 4 weeks, it will cause a sharper peak / decline during the next bull run.

Looks like Orca level is worth 10k now.

None of that really matters to me. I've chosen a career path with limited investment capital at the moment. So, for me Steemit is more about earning SP over time.

Seems unrealistic though -- Like to ever reach Orca level without investing.

Like 8-12 years worth of posting. By that time there will probably have been another bubble and collapse, No telling what the platform will look like at that time.

What's the financial advantage of being an orca?

You just get more people following you, cause they want to be on your good side, so you can offer significant upvotes, and then in turn receive a higher percentage of curation values?

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I think it's healthy to have these conversations. Ultimately I'm not worried about Steem.
The tech is solid, and the market will discover that in time. I do worry about people who cash out a large amount of STEEM for only a small return. I don't shame or guilt anyone for doing so, but I absolutely encourage everyone to hold if at all possible, for their own sake.

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Yea -- Agreed. I think that sort of situation is mostly about a lack of options, or a lack of foresight. It's pretty obvious that the amount of money you can get from a short term thing, and the amount of time it takes to get it out, and the amount of effort it takes to build.

When I first started I thought this would be a great source of working capital for my art business, but I'm seeing more and more that it probably works better as a long term deferred payment / investment account.

People need to successfully long term plan, and secure funding elsewhere so they can let the investment account accumulate and mature -- .

That's for sure.

Thanks for the comment.

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(Edited)

I have converted about 99 % of my Steem to SteemPower. I have been doing this since June 2017. I post several times a day... my artwork, my photography, my videos, my crypto views.... all Original Work.... after almost 3 years here I now have 6,200 Steem power. My vote at 100% is worth about 4 pennies...... yikes.

So, lately, I take out 5 Steem every now and then.... send thru Blocktrades to buy Ethereum. I used to earn $10 on my Steemit posts a few years ago. Now I am lucky if I get a few pennies. I think I don’t write enough words. I am an artist also, but gave up doing and posting my paintings since I didn’t make very much anymore. Luckily I have a little Bitcoin. Maybe some day I will be able to retire.

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I think diversification between ETH and STEEM is a good idea.

There's a lot to be said for creating projects and selling them for ETH, I think.

It just requires that you take the NFT idea to a project execution level. I'm going to be experimenting with this in the next few months with a graphic novel.

I'll likely report on the process / results.

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Excellent. I am hoping I can get my Steem earnings up some more. Maybe I need to go back to posting my paintings. Nothing else much working here for me anymore.

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Yea, I think a lot of people really ought to be thinking in terms of large scale projects, rather than one off paintings. It's just got way more commercial viability and the burn lasts longer. There's more value created -- you just need to be thinking like 6 months at a time instead of 2-3 days at a time.

It's possible to kind of eek by on 1 month at a time, but that's really kind of a hamster wheel, in my experience.

Seems far better to work 3-6 months at a time to start out, and then see if you can make that work for you.

And if that works, then maybe even push it to one major project each year, combined with multiple platforms of income.

Ko-fi
patreon
Steemit
Hideout
skillshare
teespring
shopify
Ethereum NFTs
etc etc etc

Like pick 3 and excel in them.

Something like that.

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I agree with you on this platform being about the rewards and that it's better to be honest about it. Nonetheless, it's also good for the community to go beyond the economic part and demand quality content so that ultimately we all benefit from a platform that offers value to creators, investors, and consumers. But yeah, shaming and guilting about what you do with your rewards isn't very useful.

$trdo!

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Yea - I think there's probably room to do some interesting things with community here on Steemit. I'd like to figure out a way to merge creative projects with community challenges somehow. That would be neat.

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