Are we Steemit INC-dependents?

More than three years have passed already since that one investor called Ned Scott and the BitShares creator Dan Larimer, founded the Steemit platform, built on top of the Steem blockchain.

Since then, we have seeing the deployment of many HardForks developed by the Steemit team and supported by our witnesses, some of the HF were really necessary but some others just put us on the place we are now at the market in my opinion.

Also, for me it is clear that the permanent “drainage” of the “Ninjamined” Steem which is being transfer to the exchanges with the same frequency, is clearly “ballasting” our blockchain to the most unsuspected depths of the market in terms of price and capitalisation.

From being a total needed company in order to sustain the Steem blockchain and its development, Steemit INC has become a problem for us in order to recover from a very painful a long bear market and this situation does not look to get better in the mid-term since there is no plan, according to my knowledge, that would indicate a “release” of the selling pressure by the @steemit side.

Even if they have recognised lately that they have cut their infrastructure cost with MIRA and other technical improvements, and also they implement another source of incomes by the use of advertisements on site, they are not really planning to stop or at least “smooth” a little this constant drainage.

In my opinion, this behavior is also affecting the number of DApps being built on top of the Steem Blockchain…I remember 2 years ago when the trend page was full of new ideas and projects proposed from developers… how may we have now?

I think the best development lately has been the STEEM-ENGINE and TRIBES Token+Interface placed by @aggroed and other excellent, not only developers but also investors here. I really appreciate them.

In the meantime, STEEMIT has become the BIG SELLER of the blockchain and not the entity that everyone would expect in order to further develop and improve the project.

What is clear is that, under the point of view of the regular steemian, Steemit INC seems to provide more problems than solutions…

I know, yeah, more than two years being an active member of this blockchain has taught me that STEEM IS NOT STEEM…so, don’t tell me this anymore or… I will downvote you (LOL), of course I’m joking…

but, wait… Do you think we are still dependent on these people?

I mean, is there not enough good developers in the community? (ie. @holger80 , @yabapmatt @aggroed , @netuoso etc… )

Could these good developers take care of the Steem Blockchain Code or are we “hooked” forever by the STEEMIT INC team?

These are questions for you, my prefered witnesses:

@abit
@actifit
@aggroed
@arcange
@blockbrothers
@cervantes
@coingecko
@cryptopassion
@curie
@dragosroua
@drakos
@emrebeyler
@fyrst-witness
@good-karma
@gtg
@holger80
@klye
@lukestokes.mhth
@mahdiyari
@partiko
@pharesim
@quochuy
@roelandp
@steemitboard
@steempeak
@steempress
@swisswitness
@themarkymark
@therealwolf
@yabapmatt

Another question to my favourite witnesses?

Hey guys!

This time Steemit INC has given us a tesnet to try the new proposals!

https://steemit.com/steemit/@steemitblog/steemit-update-hf21-testnet-sps-eip-rewards-api-smts

How is going?

Did you have time to test the new Hardfork at the TESNET?

Below the list of my favourite witnesses, the question is for you:

@abit
@actifit
@aggroed
@arcange
@blockbrothers
@cervantes
@coingecko
@cryptopassion
@curie
@dragosroua
@drakos
@emrebeyler
@fyrst-witness
@good-karma
@gtg
@holger80
@klye
@lukestokes.mhth
@mahdiyari
@partiko
@pharesim
@quochuy
@roelandp
@steemitboard
@steempeak
@steempress
@swisswitness
@themarkymark
@therealwolf
@yabapmatt

Are we going to have a “dejavu” of the Hf20 here?

No, seriously, I think it would not be bad at all to have some feedback from you…

Steem on!

@toofasteddie

Question for the top 20 Witnesses about HF21

I have been a little bit distracted today regarding STEEM… fortunately I have read the last post of @mindtrap regarding what it seems to be an irremediable implementation of the famous Hardfork 21, which seems that is going to be deployed in very short time…

After reading the short informative post of @steemitblog (Steemit Update: HF21 Testnet, SPS, EIP, Rewards API, SMTs!) and all the consequent comments I personally don’t support any of the proposed changes, mainly because I think it is going to penalize thousands of content creators in favor of big whales IMO…

This time @Steemit has informed us that by Thursday 1 PM EDT a Tesnet with the HF21 will be available for anyone to test the new code… That is great because Witnesses and developers will test how stable the code will be…

But, of course, we are unable to anticipate what would be the impact that those drastic changes, IMO, will bring for the steemians.

Honestly, what I have read till now is more negative than positive…a few witnesses have defended the new proposal, some clearly not… also I have read very contrarial opinions coming not only from Minnows and Dolphins but also from Orcas and big stakers…

However, in this blockchain we have a consensus protocol on which mainly the 20 top witnesses can vote in favor or against the proposed Hardfork before its deployment.

We, the non-witness steemians have our opinion and a point of view but we can do very little if the witnesses have decided already to go all-IN for the Hardfork implementation…but, it seems to me that those witnesses can have a biased opinion since they are in the top 20, sometimes, because the big whales in favor of the HF21 have put them there…sorry if I am wrong…

Before trying the new code at the TESNET, I would like to ask a question to the top 20…hopefully I reach them from here…

who of the TOP 20 witnesses is in favor and who is against?

@yabapmatt
@curie
@blocktrades
@gtg
@roelandp
@someguy123
@good-karma
@themarkymark
@therealwolf
@aggroed
@cervantes
@thecryptodrive
@ocd-witness
@timcliff
@anyx
@ausbitbank
@smooth.witness
@followbtcnews
@lukestokes.mhth
@clayop

Just I would like an answer from each of you, IN FAVOR or AGAINST… no justification, no more comments, that’s all…

I hope they read this post.

Cheers.

STOP POWER DOWN MONTH (#SPDM): The consequences of a massive sell…

Complementing @exyle ‘s post this morning and taken the data provided by @penguinpablo in his weekly reports, the following are the charts related with the amount of total STEEM SUPPLY and the amount of LIQUID STEEM STORED at the EXCHANGES since the beginning of the year:

TOTAL STEEM SUPPLY:

TOTAL LIQUID STEEM DEPOSITED AT THE EXCHANGES:

The amount of LIQUID STEEM into the exchanges is still growing despite it seems that the curve is getting flatter , this quantity is so big that the price seems to be stagnant and sometimes even worse because, even if the general trend on the market is positive, STEEM seems to lose value in relation with the rest of the cryptomarket.

Why STEEM is losing continuosly price while BITCOIN grows?

Have a look to the following STEEM/BTC price, from beggining of the year till now…

…and now have a look to the massive entrance of 14 Millions STEEM within only 3 weeks by the end of January till mid February, starting just after the peak of the 22nd of January:

Steemit and other wales have been sending massive quantities of STEEM to the exchanges, and I guess they have been selling them in a very planned mode, not in one shot because it is impossible since Buyers are not sufficient to absorb such quantities…actually, what we have seen since early March till a couple of weeks ago is the STEEM/BTC continuous decay due to 14 Millions STEEM deposited on exchanges on February…

One positive signal can be the following:

Take the last month of STEEM/BTC chart and identify on which weeks we have more and less STEEM deposits at exchanges:

Same with the STEEM/USD pair:

For me it is a clear indication that there are STEEM BUYERS outside. But do you think they are sufficiently stupid to buy STEEM knowing that a whale monster as @steemit is permanently powering down and increasing the amount of STEEM in circulation at the exchanges week after week?

…and I wonder…

if MIRA has been already released 16 days ago…should not be the Costs of running the blockchain be reduced drastically?

Why @steemit is keeping apparently the 400000 STEEM per week Power Down Process and sending the full amount to an alternative account AKA @gsr-io which is at the same time withdrawing more or less the same amount to the exchanges?

Would not be a good time to inform about the real costs reductions dear @elipowell ?

Please, let the STEEM price to breathe a little for some time…

STOP POWER DOWN.

@toofasteddie


P.S: After having checked the top 20 STEEM witnesses, I found that still some of them are Powering Down, but I learnt as well that even if we would sum all the witnesses weekly earnings and we would “throw it” to the exchanges, this amount would be very little in comparison with the amount that @steemit itself is powering down… anyway, I am still thinking that a general STOP POWER DOWN EVENT should be very positive for the sake of everybody here and for the project in general so, my selection criteria for witness votes will take into account that requirement as well…for the moment.

Thanks to @crimsonclad and @svemirac for the constructive discussion on the topic in my yesterday’s post.

JOIN ME on my particular STOP POWER DOWN MONTH (“SPDM”)

Yesterday I wrote this post on which I wrote that we should consider the option to start a campaign similar to the STEEM POWER UP DAY aka #SPUD but in the inverse way in order to see and quantify what is the effect on the steem PRICE if we manage by at least a couple of weeks to stop feeding the exchanges with fresh STEEM.

I have called it the STOP POWER DOWN MONTH aka #SPDM and I think the effect can be beneficial for every body, including witnesses and whales because if we create scarcity we would have a lot of chances to see STEEM growing at the CoinMarketCap.

Despite I am pretty happy with my list of selected/voted witnesses, I am going to start doing my particular campaign by removing my witness votes from those witnesses within the top 20 that keeps Powering Down.

For your information the following is my current list of witnesses:

@abit
@actifit
@aggroed
@arcange
@blockbrothers
@cervantes
@coingecko
@cryptopassion
@curie
@dragosroua
@drakos
@emrebeyler
@fyrst-witness
@good-karma
@gtg
@holger80
@klye
@lukestokes
@mahdiyari
@partiko
@pharesim
@quochuy
@roelandp
@steemitboard
@steempeak
@steempress
@swisswitness
@themarkymark
@therealwolf
@yabapmatt

I am going to analyse each one of them, if you are within the first 20 top witnesses and you still keep powering down I will remove my vote on you, at least temporary.

It could be great to know as well the opinion of the witness community…hope they comment.

It would be great if more steemians follow also this campaign, if you agree with me RESTEEM would be appreciated.

 If you feel like not having time to do a proper analysis and still think that mine is fair , you can also choose me as your proxy that will vote for witnesses for you.

Just, keep using your witness votes doing an important work.

image.png

Steem on!

STOP POWER DOWN MONTH (“SPDM”)

…and the history repeats again and again lately…BITCOIN corrects, STEEM shyly grows, BITCOIN stand up then STEEM goes down…Only yesterday STEEM was growing at 7% rate a day, while BITCOIN was stuck a between -2 and +1% rate, actually STEEM managed to recover from the 64th position to the 54th in a short time and it was really encouraging to see that good signal….

And now, we are back to the start, defending the former position in front of altcoins as the “very well-known” SOLVE or the famous THETA:

Of course if BITCOIN grows strongly, it pushed all the market prices, including STEEM but the thing here is that STEEM does not manage to grow at the same rate, even more, it used to decrease a little in relation with BITCOIN, which indicates that people sells STEEM for BITCOIN, continuously…

Since early April, we have a clear and solid resistance level placed at 0.45 USD. This level has been touched more than 5 times since then, and every time we get a rejection downwards.

50DMA and 200DMA weirdly travelling following the same path…no jumps, everything under “control”…

@steemit , @ned , the majority of the witnesses and some other major whales squeezing the lemon in a “controlled” way, while we, the “dreamer” steemians that still keep being active, try to squeeze their brain while searching for more options, more newcomers, more attention at tweeter, facebook and at everywhere… creating the SPUD day, promoting the Seven77 Challenge, creating palnet.io…

… A few hours ago, I have read a post from @klye which has been bombarded with a massive amount of downvotes of flags or whatever the name they want to use…a very sad situation indeed.

The post title is: “Power Down Halted… Time to Get Back to It!

@klye is not only a witness but also a skilled developer, well appreciated, at least in the past, by the developers community at STEEM. This witness fellow decided to stop POWERING DOWN his STEEM stake and so, quit from feeding the exchanges with his “modest” STEEM extracted from the Power-down process…

In my opinion, that’s the kind of commitment I would expect right now from a witness…that’s why I am going to sacrifice one of my 30 voted witnesses for him…

I wonder what would be the price of STEEM right now if the biggest accounts would also halt their Power Down…

What would happen if all of them stop feeding the exchanges for, let’s say, a couple of weeks or so?

Would it be positive for STEEM to recover?

Would STEEM move within the 30 first places of the total market cap? and, if so, would not be a major attraction for investors to come?

I think YES.

Why not a massive shout out in order to promote a STOP POWER DOWN MONTH aka SPDM?

Please, think about and resteem this post if you agree…

@toofasteddie

What is going on here?

Busy day at the office today so I couldn’t dedicate what I used to on STEEM and other crypto matters… so I arrived home, I switched on the computer and I saw this at Steemworld:

Rapidly, I checked my FEED and I realized that nothing new was recorded since long…weird…

Then I went to Stateothedapps I filtered by STEEM Platform and I get this:

yes man, all the DApps based on STEEM are showing very low user activity today, a drastic drop I would say…

What’s going on here?

Did I miss anything important?

Is HF21 is on going?

Half of the Steem active population died?

is it because the market correction is affecting all of us?

@toofasteddie

Are you an Steemauto dependant?

I did not post anything today till now… I was preparing my typical Crypto Market report while curating and commenting some posts of my feed… But suddenly I saw some good articles written by succeed steemians I followed which were getting just a few upvotes in comparison with the usual amount they get…

Suddenly I realized that something was going wrong with Steemauto and I had a look at its Discord Channel to better understand…

Actually what happened is that Steemauto stopped wrongly for a couple of hours lately today and there was an steemian at the channel that was informing about. As soon as he did that action, @mahdiyari replied immediately.

In about 30 minutes, @mahdiyari fixed the problem and inform at the discord app.

Apparently there was a “Database problem” and all delayed upvotes, more than 30000, will be eventually processed…

Yes, you dir read well…

30000 automatic upvotes delayed !!!

That’s a lot of automatic work…

While I am an active curator I am also a user of Steemauto, I think is one of the best tools at the steem blockchain despite there are others in permanent development that seems are offering better performance right now ( Steemrewarding from @holger80 is one of them) .

In top of enhancing part of my Curation actions and earnings, Steemauto simply helps me to support effectively my followers… It is not weird that my account would upvote you before I will read your post, but do not worry, normally I read your posts and I used to interact later on with you, when I have more time… On that sense, I am a Steemauto-dependant 🙂 …

On regards @mahdiyari , as the majority of the witnesses out of the 20 first, he tries to keep running his never-failed node by powering-down the earned SP… I am sure that If he was closer to the top 20 witnesses he would not have been forced to do so…

The question is why excellent developers and good steemians totally committed to the project cannot manage to be within the top 20… In my opinion on regards @mahdiyari, any user of steemauto should vote this guy for witness and support him as much as possible. People like him supports and fixes in any condition the Steem Blockchain, sometimes by getting very little as an income of the provided work.

Again, I request you to consider @mahdiyari as witness…

Go to the witness page https://steemitwallet.com/~witnesses and more or less at number 66 you will find this guy, vote him!

@toofasteddie


*Reminder: if you feel like not having time to do a proper analysis and still think that mine is fair , you can also choose me as your proxy that will vote for witnesses for you.

Just, keep using your witness votes doing an important work.


Question for the Witnesses…

If you have been following me since some time you may know that I used to post once a month a short article regarding a simple process I do concerning my Witness Votes. I call this process “Auditing My Witness Votes” the aim of which is to assess if my Votes are used in the most efficient way so, ensuring the proper performance of theSTEEM Blockchain by signing Blocks (signal that the witness works properly) but also I try to check if the owner of the witness keeps being active and supportive for the community, posting and upvoting and also developing.

The following is my current 30 Witness List, all of them working perfectly according to my criteria:

@abit
@actifit
@arcange
@blockbrothers
@blocktrades
@cervantes
@cryptopassion
@curie
@dragosroua
@drakos
@emrebeyler
@fyrst-witness
@good-karma
@gtg
@holger80
@lukestokes.mhth
@mahdiyari
@partiko
@pharesim
@quochuy
@roelandp
@sc-steemit
@steemitboard
@steempeak
@steempress
@swisswitness
@themarkymark
@therealwolf
@yabapmatt

From that list, only 11 out of the 30 are Top 20 Witnesses:

@yabapmatt , @lukestokes.mhth , @blocktrades , @good-karma , @roelandp , @aggroed , @curie , @gtg , @therealwolf , @drakos and @cervantes .

For your information, as an average, a top 20 Witness does currently around 9200 STEEM per month . At today’s price of STEEM that means 2800 USD/Month .

Instead, Witness out of the Top 20 but within the first 50, the earnings obtained a month are around 1100 STEEM , i.e 340 USD/Month at the current price.

This number decrease dramatically if you are not one of the 50 first…

The thing here is that many of the witnesses are also struggling with the current price of STEEM, some of them have had to switch off the node because, apparently, the cost of maintaining alive the node surpasses the STEEM earned and so, does not justify to keep the equipment running or just maintaining the rent.

Thus, I can understand that many of the witnesses decide to Power Down their stake in a permanent mode, especially if they are not within the Top 20 witness List.

The fact is that I have seen many of my selected Witnesses powering down and not stopping lately, some of them as I said are Top 20 witnesses and I wonder…

Would not be good to stop powering down and stop withdrawing your STEEM to the exchanges in order to, I would not say increase the scarcity of the STEEM price but, at least, stabilize the price of STEEM in the market at the present times?

Is this not the time for ACCUMULATION?

Is it MORAL to keep feeding the exchanges with such a scarce demand right know?

Would not be better for you to sell your earned STEEM at a higher prices?

…an below the main question for the witnesses which I hope, some of them will reply…

WHAT IS THE MONTHLY COST OF RUNNING A WITNESS NODE/SERVER?

Could we have an averaged monthly value in USD about the Cost of maintaining a server/node running and working efficiently?

Thanks for answering.

@toofasteddie

By the way, many Steemians here do not have the time or maybe they are not interested in doing some research and try to Vote by themselves for the witness they like…If that is your case, choose anyone that you know he would do correctly as a Proxy, which means that your account will exactly replicate the Witness Votes of the proxy account you have chosen.

*Reminder: if you feel like not having time to do a proper analysis and still think that mine is fair , you can also choose me as your proxy that will vote for witnesses for you.

Just, keep using your witness votes doing an important work.

Auditing My Witness: Let’s do our duty [v12], Removing @utopian-io adding @steempress

Back at home after spending 3 days at the country. Now I am checking my witness votes. In order to do that I am using http://duplibot.com/ and I realized that @utopian-io has the signing key inactive since more than 8 days already. I went straight to their steem blog account and I saw this:

Notice of witness suspension and additional changes

It’s a pity because they are doing a great contribution for developers on the steem blockchain so, for me, it was a obligatory witness vote.

However, this is the good moment to add another exceptional contributor to the steem blockchain, so this time my permanent vote, if they keep doing greatly and signing steem blocks as usual, is for @steempress .

Honestly, I was waiting for getting a free slot for giving a vote to them. I think their work developing the wordpress plugin for the steem blockchain is extraordinary since it allows you to have better posting tools. Have a look here if you are interested about.

Below my current witness list:

@abit
@actifit
@arcange
@blockbrothers
@blocktrades
@cervantes
@cryptopassion
@curie
@dragosroua
@drakos
@emrebeyler
@fyrst-witness
@good-karma
@gtg
@holger80
@lukestokes.mhth
@mahdiyari
@partiko
@pharesim
@quochuy
@roelandp
@sc-steemit
@steemitboard
@steempeak
@steempress
@swisswitness
@themarkymark
@therealwolf
@yabapmatt


What about you? Which witnesses do you recommend to vote and why?

*Reminder: if you feel like not having time to do a proper analysis and still think that mine is fair , you can also choose me as your proxy that will vote for witnesses for you.

Just, keep using your witness votes doing an important work.

image.png

Steem on!

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