Accumulation/Distribution/Greed

Lately ive been thinking about the token distribution happening on STEEM and WHALESHARES.
For those that had an opportunity to read my thoughts on the current state of things know my position on what is happening right now on both platforms.
The biggest issue (outside development related things) both platforms are facing at this moment is pure, unchallenged greed or what you can call token accumulation maximization.
If i didnt call this “greed” and use a negative term for what is happening, most folks wouldnt see this as a bad thing. Thats mostly due to the topic being too broad.

The problem of greed we are facing basically means that the reward pool is tilted greatly on the side of maximizing accumulation.

So why is that bad?

Well for one it has a negative impact on the general sentiment on what is supposed to be a social media token redistribution platform, and it destroys what we call “proof of brain”.

Folks that did an analysis as to what percentage of the newly created STEEM goes to bots they came to a number of around 20%. Add to that upvote selling services, add selfvoting and circle jerks and you will get to a number indicative of the relation between accumulation and distribution.
How much of the inflation creating potential of SP holders returns right back to the pocket of those same SP holders.
I dont have the stats, but i think its fair to assume that its more then 51%.

Not only is this bad for the general sentiment, but its bad because by having poor distribution that also reduces the earning potential for new users which leads to diminished demand for the token.
What does that make of STEEM?
@acidyo wrote a post the other day about how great it will be once we have a million accounts with $1 upvotes supporting their creator of choice..

My question to that is:

If the token distribution is happening in the way it is right now, with tokens created going right back to the creators in percentages of 50%,60%,70%, 80%.., the inflation reducing every year, how will there ever exist such a middle class here?

What if with that the STEEM price goes up? Who is going to pay 10$ for a STEEM token to potentially get a fraction of a fraction of the tokens that are not going right back to the pockets of selfvoters, circle jerks, bots, vote sellers?

So really, why have upvotes anyways? Why have content? Why not just get rid of all that and simply pay out 100% of the upvote token amount back to the SP holder?

We all know fair well why.

Ill see you around. 😉

Elon Musk shilling Bitcoin // not high :)

Theres something about Bitcoin that attracts eccentric millionaires. First we had McAfee, which i would go ahead and say is less of an eccentric and more of a nut hehe, and now Elon is dropping in giving some more legitimacy to crypto.

Lets be honest, regulation is great and it is an important step towards mainstream adoption but without hype and respectable individuals talking about crypto in a positive way cryptocurrencies will never take off. Sure, Elon might be a slightly odd alien like person but there is no denying he is brilliant and respected.

Listening to what he said it seems that he really greatly values Bitcoin. I cant really see him saying anything more potent then this outside literally saying: “Down with fiat!”.

“It [cryptocurrency] bypasses currency controls. … Paper money is going away. And crypto is a far better way to transfer values than a piece of paper, that’s for sure.”

Of course he pointed out a few flaws, one of them being that POW is so energy intensive meaning that a company like Tesla, that is all for sustainable energy, would not want to adopt something like BTC.
I always then ask: “Why not DPOS?”
It boggles my mind that crypto enthusiasts dont realize the limitations such energy consumption creates for crypto.

Anyways…
As i said, its good to see this kind of validation coming from folks in the mainstream. This is a guy that made millions from selling damn flamethrowers so when he speaks, people listen.

Getting Elon on our side was easy… When Warren Buffet green-lights Bitcoin, thats when you will know we are going to the moon. hahaha

Ill see you guys around ….

This is a Scripsio test//

Found this interesting Steem UI im trying out that seems to add quite a few features and it seems its focus isnt completely on STEEM. Ill need to look into it a bit more.

For now this is a test to see how the post comes out on Steemit.

4th post today. hehe.

Ducks – Animalphotography –

Duckies… Looking for your bread, or any other food you might drop.



Categoryanimalphotography
Camera ~ LensNikon D3400 DSLR ~ 18-55 mm
LocationAustralia

Giveaway ?
2 SBI share. Winner will be chosen randomly after post payout.

Prompt / Theme:  What birds do you commonly see when you go for walk? Ducks? Gulls?

Rules:
  • No Upvote, No Resteem, No Follow – just your responding comment required to enter.
  • Comment a reply directly to this post within 7 days. A genuine (family friendly) comment responding to the theme / prompt is required.
  • Posted or Commented 5 or more times during the week this post is active.
  • Not be on @cheetah’s blacklist.

Thanks for having a look ?

If you liked this photo follow @kiokizz for more.


My Music photography – Conquest of steel at the Snooty fox, Wakefield, UK. 22nd May 2011

Taken A few years ago when i used to photograph local bands and festies. Canon EOS 300D DIGITAL, no flash. processed in Photoshop.

If you like my posts and what i’m doing on steemit, please give me a witness vote.
witnesses keep the steemit blockchain running smoothly and it costs us to run our servers.
Your witness vote helps to pay for the server cost. as yet i do not have enough votes to cover my costs.

Please vote pcste for witness.
to vote for me go to : https://steemit.com/~witnesses scroll down the page and enter pcste into the box (dont use @sign) then click vote.

Scripsio: Social Interaction & Blogs With Monetization Options

Scripsio will pursue as many non-invasive methods of monetization as we can. This means that you will probably see advertisements. Of course, you can place ads too. But our main efforts will be elsewhere.

Subsites

We have implemented a subsite option for you, in case you want to be able to brand your own site. There is a nominal fee of the equivalent of $5/month. If you desire some help with setup, you can contract with one of our staff on a freelance basis, or bring on a friend or other contractor. We’re open to proposals, but our focus is on Scripsio so we won’t be developing subsites. You will have support for anything we provide that isn’t working right. That doesn’t include any tools you add yourself.

Store

Scripsio intends to have a market application on the site before too long. This will provide a place where you can buy and sell goods (hard and digital) and services.

Blogs

Most of the site is pretty intuitive to use. You just post what you want, set up groups, join groups, build your list of followers/followees and engage however you want. This engagement is local and stored only on the Scripsio servers. Again, you can always delete it all with a few clicks, if you desire.

On the other hand, we have integrated the social features with your own Scripsio blogs. Everyone has one, so you can use that to post content anytime you want.

All you need to do to access it is to hover over “+ New” in the topbar and then click on “Post”. The editor opens up and you’re on your way. When you publish the entry, it will show up on your timeline and however you have set your preferences.

As a small bonus, all articles posted from Scripsio will be tweeted on Scripsio’s Twitter. If you decide to have your own blog, we can set it up to automatically post to your Twitter as well.

Steem

An exciting feature of these blogs is that they are integrated with the Steem blockchain. It’s not necessary to do so, but you are able to go into your dashboard and set it up.

In order to set it up, all you need to do is hover on “Scripsio” in the topbar, then click on “Dashboard”. From there, click on Profile in the left column.

You’ll see your details there, most of which are editable. Your password can be changed there as well. If you’re logged into multiple devices and want them logged out, there is an option for that. And just below that, about halfway down the page, there are options for inputting your Steem Username and Private Posting Key (for safety and security, please don’t use a different key).

Once you’ve done that, and saved, it, all your blog entries will publish to your Steem blockchain account as well, from where they can be seen on other UIs, offering multiple angles of engagement. The community also has integrated the comments and upvotes section, so you can enjoy a full experience from Scripsio. If, for some reason, you would rather publish an article without it going to Steem, you can do that as well. Simply uncheck the box in the SteemPress section in the right column of your editor.

No Steem Account Yet?

If this interests you and you don’t have a Steem account yet, there are a couple of options. The easiest and quickest is probably to go through Steem.Ninja (can use credit card) or AnonSteem (anonymous/cryptos only), where you can buy one and have it all set up very quickly. Another project to help you is Steem onboarding. While setting up an account through them may not be quite as convenient as Steem Ninja, they are in the process of setting up introductory tutorials to help you learn about blockchain and Steem in particular. We highly recommend their services, even if you don’t get your account from them.

We’re still trying to figure out if we’re grown up enough for beta. Come on over and see what you think. We’d love the feedback.

Quod Scripsio