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461  Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion on: August 31, 2016, 10:06:02 PM
Andre, your rationale is broken.

Let's say tomorrow morning block size is 10mb.

I spam it to "full blocks". After all, fees are dirt cheap (even now, 42k txs were processed in the last 24hrs for near zero fees at the 0 to 9 satoshi range - https://bitcoinfees.21.co ) since there's around 0.7-0.8mb actual demand (or at least pretending to be actual by paying 10+ satoshi) and no practical fee competition for the rest 9.3mb.

So once I do that, I come and tell you that there is no room for new users because txs are maxed out.

Spot the fallacy.
462  Alternate cryptocurrencies / Altcoin Discussion / Re: Steem pyramid scheme revealed on: August 31, 2016, 08:33:02 PM
My comment posting is not steady though - I was writing more in July than now - and that's like buying more lottery tickets (casino effect) to hit the jackpot but as I said earlier the introduction of the sliding bar kind of eliminated the jackpot effect, and, in a way, disincentivized commenting.

The average poster will think "if I can gain more by blogging, why waste my time commenting?" Personally I don't do that - I comment on what I find interesting - if my time allows of course (lately that's not so much the case) disregarding the incentives or disincentives. If I want to be near the 1$ per comment mark, I actually think I can do that - even now with the payout reduction and slidebars. BUT... I'd have to not write on topics that are of interest to me and only in things which might have good upvote potential. This can also be antisocial / rude (for example realizing you'll get 0$ if you continue a conversation or answer something, and not wanting to answer it just to keep your $/comment rate high... obviously this is not a good thing to do in terms of human interaction).
463  Alternate cryptocurrencies / Altcoin Discussion / Re: Steem pyramid scheme revealed on: August 31, 2016, 05:00:26 PM
Ah thanks I didn't realize you were actively trying to earn money that way.

I'm not... It's summer and I can't focus too much on the pc. If I were *focused* on it, I'd be maxing out 4 posts per day. Right now I'm probably doing probably 4-7 per week or something. And that's not good for maximizing income. I think the key to milking it, as I see others do, is to be there consistently and creating a brand of your name with multiple posts per day. Once you get the revenue coming, this creates a psychological anchor-trigger-response mechanism where curators go like "oh that guy posted, let's click now before other whales vote on him" and then every time you post you wait for the 15-20m mark and kaaachiiiiing. Curators won't even read what you wrote. They'll just vote on it, blindly - at most they'll skim it to see the topic, photos, etc to see it's properly presented and doesn't have anything very controversial, and then click.

Quote
That is very exciting. If you are willing to expend that amount of effort there, then I hopefully you are going to love what I present, because your earnings will be much more deterministic.

I'm curious as to how. I'll have to wait and see...

Quote
My opportunity cost is too high to spend all my time thinking about how I might blog to maximize earnings. I'd have to be very adept at understanding the culture there and targeting it.[ In other words, I'd have to become fake (or create anonymous personas). That isn't for me.
I want to be true to myself and receive appreciation or hate for who I am.

Understood.

Quote
My gosh she got home and was doing a barbeque business daily but only generates ~$3 daily of profit and she has to feed the entire extended family (~10 people) with that! So I had to supplement another $3 per day for her, because she wasn't able to eat properly! I'd prefer to be able to help them more than that!

Dafuq? Huh

Quote
Again I don't trust your guesstimate math, because you've demonstrated in the past that you tend to not be very precise. It would be helpful if you'd go to steemd.com, tally this, and report back actual statistics on your usage and earnings.

Also I think you present not a mainstream case, because you were already expending much of your time over here at Bitcointalk, before you transferred much of your posting to Steem. And you apparently are motivated to work that hard for several $ per day on average. Statistics on your actual earnings would be helpful. This seems to explain your desire to add a $1 per day in earnings by displaying ads to non-registered readers. I didn't realize a $1 per day meant anything to anyone capable of blogging daily.

I agree I'm not a mainstream case, but the numbers are there. It took me quite a while to go over 45 pages of steemd history, but anyway here is the breakdown of comment-only rewards that exceed 1$.

author   "alexgr"
permlink   "re-sharkolate-please-read-voting-power-should-be-equal-vote-or-not-but-please-comment-last-post-didn-t-upload-correctly-20160718t014317683z"
sbd_payout   101.037 SBD

author   "alexgr"
permlink   "re-steempower-re-alexgr-re-steempower-help-me-what-key-points-should-we-focus-on-to-promote-steemit-to-a-wider-20160612t160855594z"
sbd_payout   16.486 SBD

author   "alexgr"
permlink   "re-steempower-help-me-what-key-points-should-we-focus-on-to-promote-steemit-to-a-wider-20160612t123102767z"
sbd_payout   17.148 SBD

author   "alexgr"
permlink   "re-dantheman-earn-13-per-year-with-these-low-risk-tax-free-inflation-protected-investments-20160531t062809267z"
sbd_payout   8.805 SBD

author   "alexgr"
permlink   "re-clayop-steem-passed-ethereum-s-number-of-transaction-and-will-pass-bitcoin-soon-20160721t082212770z"
sbd_payout   10.058 SBD

author   "alexgr"
permlink   "re-jsteck-re-cryptoctopus-witnesses-exposed-what-witnesses-has-done-for-us-this-week-first-edition-20160722t131213060z"
sbd_payout   1.829 SBD

author   "alexgr"
permlink   "re-cryptoctopus-witnesses-exposed-what-witnesses-has-done-for-us-this-week-first-edition-20160722t021210988z"
sbd_payout   3.489 SBD

author   "alexgr"
permlink   "re-hannahp-a-steemit-welcome-from-england-20160721t170554915z"
sbd_payout   2.889 SBD

author   "alexgr"
permlink   "re-complexring-chapter-6-old-friends-20160724t024738566z"
sbd_payout   3.451 SBD

author   "alexgr"
permlink   "re-jasonstaggers-how-my-most-painful-investing-mistake-could-make-you-a-steemillionaire-20160724t002415394z"
sbd_payout   60.318 SBD

author   "alexgr"
permlink   "re-recursive-re-masteryoda-fox-dives-headfirst-into-snow-20160724t034054958z"
sbd_payout   1.009 SBD

author_reward
author   "alexgr"
permlink   "re-masteryoda-why-i-removed-all-my-posts-20160725t071916073z"
sbd_payout   177.270 SBD

author   "alexgr"
permlink   "re-ozchartart-usdsteem-btc-technical-analysis-20160726t045759842z"
sbd_payout   118.173 SBD

author   "alexgr"
permlink   "re-stellabelle-secret-writer-my-brother-s-heroin-addiction-destroyed-our-family-20160725t205409365z"
sbd_payout   1.808 SBD

author   "alexgr"
permlink   "re-jamtaylor-to-catch-a-whale-what-do-they-think-about-all-this-whale-talk-and-how-do-we-get-their-attention-20160727t230329783z"
sbd_payout   209.834 SBD

author   "alexgr"
permlink   "re-crossdresser-38-upvotes-and-not-1-single-cent-20160727t225648161z"
sbd_payout   1.461 SBD

author   "alexgr"
permlink   "re-winstonwolfe-lesson-learned-i-got-the-payout-i-deserved-get-your-post-perfect-before-posting-do-not-edit-it-20160729t070041973z"
sbd_payout   1.209 SBD

author   "alexgr"
permlink   "re-complexring-confessions-of-an-academic-postdoc-20160729t071110408z"
sbd_payout   3.488 SBD

author   "alexgr"
permlink   "re-cryptomarket-steemit-for-investors-2-how-steemit-will-revolutionize-online-advertising-by-tai-zen-and-leon-fu-dot-com-20160731t081630478z"
sbd_payout   3.933 SBD

author   "alexgr"
permlink   "re-egjoshslim-re-alexgr-re-egjoshslim-why-are-people-getting-butt-hurt-over-any-post-that-mention-any-issue-with-steemit-20160807t174952287z"
sbd_payout   7.513 SBD

author   "alexgr"
permlink   "re-egjoshslim-why-are-people-getting-butt-hurt-over-any-post-that-mention-any-issue-with-steemit-20160807t105603401z"
sbd_payout   18.793 SBD

author   "alexgr"
permlink   "re-stellabelle-secret-writer-i-feel-like-an-alien-among-people-in-my-country-20160815t165558736z"
sbd_payout   1.140 SBD

author   "alexgr"
permlink   "re-markrmorrisjr-an-open-letter-to-steemit-gods-dan-in-particular-are-you-trying-to-build-the-buzzfeed-of-the-blockchain-20160818t123636269z"
sbd_payout   2.678 SBD


author   "alexgr"
permlink   "re-hitmeasap-steemians-what-the-hell-are-we-doing-here-what-happened-to-this-place-20160818t130610492z"
sbd_payout   2.972 SBD

author   "alexgr"
permlink   "re-algimantas-re-stellabelle-2-problems-plaguing-steemit-that-synereo-has-already-solved-20160828t182302775z"
sbd_payout   4.126 SBD

----

781 SBD. So the screen payouts would be 2082$ and the SBD+SP payout minus curation would be 1562$.

My post count is 1280, including blog entries, so it's definitely >1$/comment. (Again, I've not included all payouts less than 1$ - which add up too).

Quote
For developed world, and for the youth who are bored at home with free Internet access, perhaps $20 - $30 per day would be very motivational perhaps even enough to motivate several hours of daily effort. But if it was $5 or $10 per day and very part-time, fun, easy, and interesting on its own, that would be a potent synergy.

For the professional content creators, I have something potent to offer them.

The biggest problem, I think, is finding a continuous stream of money to pay. If you find that, then you have a solid basis to work.
464  Alternate cryptocurrencies / Altcoin Discussion / Re: Steem pyramid scheme revealed on: August 31, 2016, 01:00:25 AM
I am personally opposed to cultivating false expectations and in that we agree. However the platform itself is not saying come here and you'll get 1000$. From the steem.io site I see

Quote
Posting Rewards
Earn STEEM every time you post content valued by others.

Curation Rewards
Earn STEEM by being the first to upvote popular content

Commitment Rewards
Steem rewards long-term commitment!

Savings Rewards
Steem Dollar rewards bring stability to you

Mining Rewards
Earn STEEM by joining the peer-to-peer network and validating transactions.

Market Maker Rewards
A free STEEM / SBD exchange that pays you to trade

...so... maybe others are saying earn thousands but the official site is more "reserved" in the claims.

As for my investment in Steem, I'm less invested than you are. I've never engaged in mining it. I'm following the other selling point that blogging is the new mining and find that it works for me since it's making more than my dekstop mining some shitcoin. And being summer, I don't want extra heat in here. It is time consuming though and obviously there is opportunity cost if my time was spent elsewhere. To compensate for this time loss I've reduced my btctalk time.

About the authors and the readers having a fundamental connection, I agree. I'll have to wait to see what you come up with. Same with whales being the deciders and you having a different approach.

Regarding the 1$ per post, I meant it on average. I've probably made >1$ per post/comment on average. Some had pretty high upvote value like 100-200-300$ - so they cover the 0.01$ ones pretty fast. The introduction of the whale slidebar has reduced this kind of rewards as of late although I do get the occasional 10-20$ per comment...
465  Alternate cryptocurrencies / Altcoin Discussion / Re: Steem pyramid scheme revealed on: August 30, 2016, 10:01:53 PM
b) its main selling point is a lie

People have paid bills with the money they made. Others are traveling the world and I think you said you'd be spending some of it for child support.

We can argue if that can continue indefinitely, but so far it is delivering.

Remember, even 1$ for a post, is 1$ more than what another network is paying you.

The lie is for most people. And $1 is an insult (especially when we are asking people to do something which is time consuming, tedious, contentious, argumentative). Some of us made made money and I am grateful for it. I do hope @dan and @ned have made some money and gained valuable knowledge. I think they did an important experiment. Whether they knowingly created something to fail or not and whether some might fault them, it outside of my area of responsibility to comment on.

There is a way to do this in a way that everyone is satisfied and invested. I will hopefully soon tell you.

P.S. there is another aspect of Steem which is that others may create new apps on top of it. So we can't be sure it will fail. Blogging may not be the only activity that will come to Steem. But the economics of rewards are unlikely to change much, so this lie will remain although with more popular activities perhaps no one will care about the $1 of earnings, but then what is the unique selling point?

I don't understand why you have this subconscious desire to create controversy or friction by being so aggressive in your labeling. "Lies". Yeah... ok... and I've been told I can sell my junk on ebay, I listed them and nobody bought them. Those fuckin liars - nobody bought my garbage Cry Cry Cry

It's like what you said. Try to infer meaning from context. Obviously if you blog crap, you won't get paid. I will grant you that the process is not consistent (casino effect) and this creates confusion and an emotional roller coaster for the author who feels rejected. And it also creates feelings of inadequacy in terms of relative worth (why is X making more than me). But the subtleties of human psychology are difficult to tackle effectively in any kind of similar system.

As for the 1$, if you had 1$ / post in bitcointalk, you'd probably be making a living (by your asian country standards) by simply writing your opinions on crypto. Sure, it'd be below your pay-grade, but hey: while you can't do that at bitcointalk, you can do that at steem. Now, the rewards will obviously not be uniform or predictable (20 comments may generate 0.5$ and 1 comment may generate 100$) but on average they tend to accumulate. And you also have article writing which is more consuming in terms of time although it might hit the jackpot.

But I sense all these are simply distractions from what you need to design... so... I'll leave it there.
466  Alternate cryptocurrencies / Altcoin Discussion / Re: Steem pyramid scheme revealed on: August 30, 2016, 09:27:33 PM
b) its main selling point is a lie

People have paid bills with the money they made. Others are traveling the world and I think you said you'd be spending some of it for child support.

We can argue if that can continue indefinitely, but so far it is delivering.

Remember, even 1$ for a post, is 1$ more than what another network is paying you.
467  Alternate cryptocurrencies / Altcoin Discussion / Re: Steem pyramid scheme revealed on: August 30, 2016, 07:11:05 AM
It's additional income, not exclusive income.

Are you blind?

And the cost of showing new users an ad-fucked site.

You gain < $1 per blog in revenue (which no one is interested in!) and then you impact the new users experience with the site by showing them ads. You will lose more in cost of attrition of news users due to being bombarded with ads, than you will gain from revenue that isn't even compelling to anyone.

Why do you force me to write the same points over and over again. You are going to put me in a position where I am compelled to never converse with you due to the very low S/N ratio.

You don't seem to contemplate that adding features is not free. There are ramifications which can be worse than anything gained from the feature.

You are answering on a misunderstanding you hold. The ads, in the proposal I wrote above, is not for registered users. It's only for visitors - the kind of traffic which I expect will dominate in the future - and which, to you, the web server, are "free riders".

WTF  Huh

I think you don't understand the English language. Try again to read what I wrote. In your proposal, the new users who come to the site and are not registered yet, will see ads, which will impact on their opinion of the site and lead to a higher attrition rate.

Ads on the internet are a fact of life. FB, Youtube, everyone has them - except wikipedia which is begging for donations every year. And you can't get rid of these ads in all those large sites without hacks.

In this case you tell them sign up and make the ads vanish. It's an incentive to register. If they don't register fuck them and let them see the ads. I, as steemit, lost nothing. After all, a reddit-type site can only have so many registered users due to the issues you mentioned upthread. This is not FB to attract billions - blogging/foruming etc is a "niche" inside the social networks market that will only attract a limited audience. So all those free-riders (that would never register anyway) get to pay something indirectly.
468  Alternate cryptocurrencies / Altcoin Discussion / Re: Steem pyramid scheme revealed on: August 30, 2016, 07:01:09 AM
It's additional income, not exclusive income.

Are you blind?

And the cost of showing new users an ad-fucked site.

You gain < $1 per blog in revenue (which no one is interested in!) and then you impact the new users experience with the site by showing them ads. You will lose more in cost of attrition of news users due to being bombarded with ads, than you will gain from revenue that isn't even compelling to anyone.

Why do you force me to write the same points over and over again. You are going to put me in a position where I am compelled to never converse with you due to the very low S/N ratio.

You don't seem to contemplate that adding features is not free. There are ramifications which can be worse than anything gained from the feature.

You are answering on a misunderstanding you hold. The ads, in the proposal I wrote above, is not for registered users. It's only for visitors - the kind of traffic which I expect will dominate in the future - and which, to you, the web server, are "free riders".

Once a user registers and is logged in, pufff... all ads disappear. So there is no attrition. And the ads don't have to be invasive. I don't close every tab that has an ad. But I will close it if it throws me a few popups, if it is extremely spammy, etc etc. Only porn sites / casinos / illegal tv streams / torrent sites have that kind of spammy ads where you want to close the browser ASAP.

As for reddit, just because reddit sucks at monetizing their content doesn't mean it's not doable. You analyze the failures, improve and move on.
469  Alternate cryptocurrencies / Altcoin Discussion / Re: Steem pyramid scheme revealed on: August 30, 2016, 06:39:20 AM
Thanks for repeating what I already know and not addressing any of my points.

Go quantify with actual revenue estimates your "pretty good" and then you might understand why I guesstimated it is a waste. Generally speaking if you are reverting to ad-funded, you've already lost.

I don't see it that way. If I'm not maximizing my revenue, it's money left on the table that could be used to fund my authors that could then increase my content and the content pull more users and more viewers which in turn bring in more ad revenue...

$1  Huh (10,000 not signed in readers per blog post)

And the cost of showing new users an ad-fucked site.

Man I feel like you need me to explain everything to you 3 times before you get the point.

Accidentally deleted my prior post:

Generally speaking if you are reverting to ad-funded, you've already lost.

This is why Steemit got so much attention. It is creating payouts for blogging which are not normally seen from ad-funding.

Just do some simple math. A typical payout for type of targeting you are thinking of is perhaps $1 or less per CPM. The blog author would need a million (probably 10 million) readers to earn $1000 on a blog post. That ain't going to happen.

It's additional income, not exclusive income.

Plus, even as additional income, a steem-like platform can do something that is not ordinarily possible by typical ad schemes: Decentralize the ad-buying / ad-placing process and allow 100% of the revenue to go to the author, instead of 30-50-70%.

You create an interface in steemit for advertisers, they login, buy SDs or STEEM, and then spend it on ads in selected content / topics or selected authors they want to sponsor. It'll have some failsafe to ensure the ads are not abusive/porn/etc etc, and off you go with 100% revenue to the author (almost unheard of).
470  Alternate cryptocurrencies / Altcoin Discussion / Re: Steem pyramid scheme revealed on: August 30, 2016, 06:11:36 AM
Thanks for repeating what I already know and not addressing any of my points.

Go quantify with actual revenue estimates your "pretty good" and then you might understand why I guesstimated it is a waste. Generally speaking if you are reverting to ad-funded, you've already lost.

I don't see it that way. If I'm not maximizing my revenue, it's money left on the table that could be used to fund my authors that could then increase my content and the content pull more users and more viewers which in turn bring in more ad revenue...
471  Alternate cryptocurrencies / Altcoin Discussion / Re: Steem pyramid scheme revealed on: August 30, 2016, 06:04:41 AM
Otherwise they'd quit facebook the moment someone posted something they perceive as "hurtful" that took 500 likes.

My mother uses Facebook to communicate about dog rescue and she never looks at the feed page. So she has a need fulfilled and she is not offended.

My gf has told me she hates when Facebook shows her extreme violence and porn on her feed, and also she really hates when people add her to a group without her permission. But she stays on Facebook because all her contacts are there and she gets gratification that far exceeds those rarer transgressions (including lots of shares about cute dogs, clothes, etc).

Steem is trying to onboard and attract users away from existing establish networks. Steem has a lot of bizarre philosophical babble that is going to be absolutely meaningless to my gf for example. And to my mom, I am sure she would get her nose bent of out joint 5 minutes after opening Steemit and she would NOT be coming back. She doesn't need that stress in her life. Also my mom told me she has no time to blog (age 70) even though she used to be a newspaper co-editor. And I know my gf would never write long-form blogs. She prefers short-form microblogging.

All I ever see when I open FB is all the updates of photos of friends. Facebook is never bombarding me with content that offends me. It serves my limited purpose as a communication tool only.

Reddit is smaller than FB or twitter precisely because reddit serves different needs than the other two networks.

Steemit is going to "compete" more in the reddit/forum/blogging demographics, rather than ...twitter/fb/instagram etc. Naturally, these demographics may be unsuited for people that are bored to read or write, that feel offended in everything they read, etc etc. You accept that and move on. If the target market drops from 2bn to 200mn or 50mn (+billions in page views from links), it's still a pretty large market.

Nobody will make a blockchain based or centralized facebook killer for the next couple of years. Even google+ failed... and they actually tried to onboard users by forcing them there through the associated services (gmail/youtube etc).
472  Alternate cryptocurrencies / Altcoin Discussion / Re: Steem pyramid scheme revealed on: August 30, 2016, 05:51:18 AM
-how to make money from these visitors (I think I've cracked this by proposing a different treatment: only serving ads to the non-logged users while registered/logged users have an ad-free experience)

You'll probably lack much of the data on the user's preferences and habits in order to make ads more relevant for significant revenue.

This is doing nothing to create an ecosystem for the token.

Rough guesstimate appears to me to be a waste. You also show new users that the site is another ad-fucked place.

I know the topic they are reading and I may have browsing history too (from other things they've read on steemit), not to mention cookies... so.... I have a pretty good starting point for targeted ads.


Quote
-how to incentivize them to register / participate as registered users to drop a few comments, hang around, etc.

Exactly. Make sure you blast them with bizarre content that offends them.

Lol...
473  Alternate cryptocurrencies / Altcoin Discussion / Re: Steem pyramid scheme revealed on: August 30, 2016, 05:41:05 AM
Ok, understood. But I think if there is a large number of reasons one would leave, this probably ranks in the low-end.

You may not understand women very well.

Go insulting a woman's entire goal and philosophy of life and you think this will just bounce off their feelings and subconscious mind. Again I am not referring to women who have forsaken that K selection strategy (e.g. many Westerners).

And it's not just this content example. This point applies to content in general and how tuned in (engaged) do readers feel to what is being ranked highly for them.

I think women can differentiate between the platform and the post. Otherwise they'd quit facebook the moment someone posted something they perceive as "hurtful" that took 500 likes.
474  Alternate cryptocurrencies / Altcoin Discussion / Re: Steem pyramid scheme revealed on: August 30, 2016, 04:54:40 AM
Did I want to remove to content or did I want to remove whale's deciding what the culture of Steem should be.

Whale's promoting a culture which repulses the billions of masses, is probably not a good strategy for mass adoption.

Oooor, whales upvoting diverse material. Diversity maximizes "reach". It's like the monogamy/polygamy debate. Both get visibility and people who agree with X or Z.

I suppose my issue is with the default ranking putting that "diversity" in front everyone's face who would be repulsed by it:

Even his posts might be worth $2000 in a large ecosystem, they still wouldn't be ranked very highly for the majority of readers in a system that was correctly prioritizing attention.

Again I will try to get you understand my point is not that diversity is undesirable, but that putting hate speech in front of people's faces that repulses them, is another way to make them leave.

Ok, understood. But I think if there is a large number of reasons one would leave, this probably ranks in the low-end. Usability, lack of network effect, difficulty in enduring the emotional roller-coaster of seeming "rejection", difficulty in making money, etc etc, would probably rank in the higher end.

Btw, I think readers could be readers even without signing up. The model of traffic that we currently have (most steem-ians / steem-ers are registered & logged in, consuming all kinds of content), will probably change significantly as the content grows. Eventually most of the readers will be people coming from google, people that saw a link on fb/twitter/forum, etc etc. These will be coming to read just 1 link/1 page and probably some of the top comments. It's exactly how I use reddit right now (I don't have a reddit account, but I do click on links to read some reddit content). So at that point the ratio of unregistered/non-logged in to registered/logged-in users will tend to heavily favor the first. By then, it won't matter what the front page has because most traffic will be from people entering to read specific articles. Like it doesn't matter to me what the reddit front page has because I don't ever go there. I only click reddit links with articles. Some times /bitcoin too for bitcoin-related news...

So, when we reach a similar level in steem, what will matter then is

-how to make money from these visitors (I think I've cracked this by proposing a different treatment: only serving ads to the non-logged users while registered/logged users have an ad-free experience)
-how to incentivize them to register / participate as registered users to drop a few comments, hang around, etc.
475  Alternate cryptocurrencies / Altcoin Discussion / Re: Steem pyramid scheme revealed on: August 30, 2016, 01:54:22 AM
Did I want to remove to content or did I want to remove whale's deciding what the culture of Steem should be.

Whale's promoting a culture which repulses the billions of masses, is probably not a good strategy for mass adoption.

Oooor, whales upvoting diverse material. Diversity maximizes "reach". It's like the monogamy/polygamy debate. Both get visibility and people who agree with X or Z.

476  Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion on: August 30, 2016, 01:46:40 AM
P.S. this thread's mostly JJG :\

Don't underestimate yourself. You've got plenty of IDs to keep us entertained Cheesy
477  Alternate cryptocurrencies / Altcoin Discussion / Re: Steem pyramid scheme revealed on: August 29, 2016, 05:28:24 PM
Extra motivation to destroy the Steem(it) whale model asap:

@misgivings is promulgating social decadence. He advising men and women to destroy their productivity and spend all their time on unproductive animalism.

Whales upvoting this shit over and over again.

Steem is descending into a cesspool culture.

Someone could ask "and who are you? The content-nazi?" Cheesy

Writing anything and getting upvotes or downvotes is a feature, not a problem. The moment rewards start being given according to what one person thinks is ok, that's where the problem starts.
478  Alternate cryptocurrencies / Altcoin Discussion / Re: Steem pyramid scheme revealed on: August 26, 2016, 03:38:00 PM
With Steem tokens keep falling some people who have planned to invest in it for the long term are now stuck and getting desperate. I saw a video of Tai Zen trying to convince people and himself that the falling price is ok. Here is the video https://www.youtube.com/watch?v=tgp0_sS8rLw

For me the price will go up in time but the question I have is when will the price stop falling and how long do we have to wait for the price to go back up? It is not worth the agonizing wait if you ask me.

Protip:  The Larimers and their associates are cashing out.  There is a reason for this.

Come one we all knew that this was going to happen.
Every person who believed that this will be a great project and worth quit some bucks in the future most have lost his mind.
Look at the chart!It's dropping like a hot potatoe!And it will keep on dropping.Ok some small break and pump within that but then the sale out will continue while the dumb sheep who invested will stuck.

Why are you assuming that every investor must have bought AFTER the pump?

They could have bought at 0.0003 or 0.001 for all we know - because there definitely were some spikes between 0.0003 and 0.001. Some people were buying back then and they aren't in the red. And they won't be in the red even if it drops below 0.001 - because their SP quantity has gone upwards a lot.
479  Alternate cryptocurrencies / Altcoin Discussion / Re: Steem pyramid scheme revealed on: August 26, 2016, 02:25:23 AM
The paradigm of existing stake holders being in control over rewarding content seems to me to be not ideal for the driving the correct economic incentives. We are essentially complaining that there isn't a verfiable, justified meritocracy. Basically we have to write to appease the dominant stake holder culture that is there now, i.e. a circle-jerk[1]. I have an idea about how to remove this dysfunction and reward content according to the metrics that matter the most for the goal we are trying to achieve. I will say more if I have something to show.

In the context of a social network platform, even if the stakes were different, I can tell you that there would be no verifiable meritocracy in terms of rewards/quality.

Let's say you have 100 well-connected people and 100 less connected people. The 100 less connected people will get less upvotes. So the introvert/less social personality will get penalized on that factor alone, while the extrovert/more social personality will get rewarded more - even if their content is worse.

If I know more people, more people will vote me and support me. See the $ vigilante case...

So when you scale the network, say, to 1bn people, and you have some celebrities with 10mn followers, and others with 500 followers, even if the 10mn follower celeb writes a one-liner about the food they are eating and uploads a photo, that celeb would get more upvotes than a well written essay by the 500-follower guy. So...
480  Alternate cryptocurrencies / Altcoin Discussion / Re: Steem pyramid scheme revealed on: August 25, 2016, 11:27:29 PM
Sorry but the Steemit culture makes me want to vomit:

I don't think there's something like a uniform steemit culture. Everyone writes their own stuff. Does this represent the whole? Of course not.

I am talking about what gets upvoted to large payouts, is a lot of weak ass shit.

Someone wrote about monogamy, you wrote something else about it, both got paid good. It wasn't thaaaat one-sided.

Go back and realize it wasn't the monogamy post that I was complaining about being a circle-jerk.

The topic is not that relevant when we are talking about perspectives and complaining about "steemit culture" like it's some kind of uniform thing. One will write a story to bitch about their life and get paid, another will write a story of triumph over their life issues and get paid. One will write about monogamy another will write about polygamy. One will write about anarchism another will write about anarchism being utopian or something. Seriously there are more important issues than "steemit's name" and "steemit's culture" to complain about Tongue
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