I`ve told some friends to test the site and told them this (copied from the ANN):
"Sign up on steemit.com today to have your account funded with 10 Steem, and let’s be part of the movement for a better online community."
Now it seems people don`t get Steem but Steem Power?
They signed up with Facebook and get this message in their wallets:
"Account registered by another account requires 10x account creation fee worth of Steem Power before it can power down"
Υou can't just create new accounts and "run away" with the "free money" |
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ayto poy thelo na pw einai oti an bgei o trump kaikame oloi
Ενώ αν βγεί η άλλη η Οχιά σωθήκαμε!  |
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το lbc το προσθεσε σημερα και το polo. ομως δεν εχει προσθεσει ακομα το steem.
περιεργο!
Για το polo είχε ακουστεί ήδη πριν απο καιρό(πανω απο ενα μήνα) ότι είχαν έρθει σε επαφή και ήταν πολύ θετικοί στο να το προσθέσουν, και γιαυτό μας ζητήθηκε να μην τους σπαμάρουμε άλλο γιαυτό το θέμα. Δικά μου πιθανά σενάρια συνομοσιολογίας... 1. Θέλουν να κρατήσουν το volume sto bittrex λίγο ακόμη για να βγάλει όσο κέρδος μπορεί ακόμη 2. Πιο πριν μπορεί να μην ήταν έτοιμοι και τώρα να είναι αλλά οι devs φοβούνται ότι μια είσοδος στο polo μπορεί να δημιουργήσει ακόμη μεγαλύτερη φούσκα και κατάρρευση στη συνέχεια, κάτι που θα βλάψει αρκετά το STEEM, ίσως περιμένουν να ηρεμήσει το FOMO για να μην το εντείνουν. 3. Περιμένουν να το συνδυάσουν και με κάποια άλλη ανακοίνωση. 4. Ένας συνδυασμός των παραπάνω. 5. Τίποτα απο τα παραπάνω!  |
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I think you would gain instant access to all information from Dan himself if you opened a steemit thread and it would be really intresting.
I am considering doing this once I am done re-reading the white paper and make sure I understand the specifics of how this could or could not be gamed. Because I also have access to 1000 of people I could Sybil attack this with, so I am looking at my options now, because CoinHoarder pissed me off. I am beginning to think that Dan has rigged this such that it is impossible for the minions to ever gain enough rep power to game the system. He has I think retained the control in his own hands. A permissioned block chain. That is what I would expect from him.  |
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Why do you need to write whole stories just to answer a simple question? this is the second time that you invent some scenario why not just answer my initial question with a simple 2 line post?
Are you having difficulties reading a paragraph or two? Is there something you didn't understand? btw https://www.youtube.com/watch?v=XNkjDuSVXiE&feature=youtu.be&t=1m20s |
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That is the curation rewards paid to those who vote, not the payout reward for those who post was voted for. It doesn't change the R 2 quadratic reward scheme which is employed for both rewards (the curation is proposed to use a different modeling math, but still apparently roughly quadratic although I haven't yet digested the differential equations and such just taking his summary at face value). So this means if someone has 10 times the rep power, then it requires 100 votes from the minions to equal that one vote both in terms of payout to whom was voted for and curation reward for those who voted. At 100 times the rep power, then it require 10,000 minions. At 1000 rep power, then it requires 1 million minions. So essentially Dan has probably handed himself and a few other insiders complete financial control over the reward system. Does anyone know where we can view the distribution of the rep power? The CEO of Steemit, Inc. is the top curation rewards recipient...
I think you would gain instant access to all information from Dan himself if you opened a steemit thread and it would be really intresting. |
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Yep that's correct, as i said in a previous post. short term steem price is likely to go up, however when growth of the platform hits the limit there will be nothing to offset the 100% yearly inflation , i suspect we won't even have to wait for this limit to be reached because buy support today is way too low to compensate for the 100% inflation, the only reason price does nt drop now is because people are hoarding, the crash wont be pretty when everyone realize this is similar to a ponzi
You are wrong in this, yearly inflation is 10% or less. Growth doesn't need to be more than 100% per year to offset this. The fact that the less than 10% of STEEM that is liquid is inflationary/debased/whatever by 100% doesn't affect the STEEM POWER holders that recieve new coins every year, cheaper but more coins that as a sum somewhat protect you from inflation, bitcoin had the same inflation too. wait..what you are saying is that steem power holders are protected from inflation because the system creates even more inflation, do you realize that when steem print more coins it makes yours worth less? You and everyone else are blinded by the fact that your steem power balance keeps increasing and failto understand that your balance is actually decreasing in value overtime because it is pegged to the steem value 1:1, what happens when 1 steem is worth 0.00000001$ ? You are very confused and unfortunatly, biased, I will try another way. The goverment of an economically healthy country(not zimpampue) decides to offer 90% interest rate to everyone that has his money locked in a bank account for two years and then inflates the food/goods and services prices by 100%. more than 90% of the people deposit their money in banks and earn the interest rate. Next year, hyperinflation or not (or any other fancy word you choose) every banknote might have less value but as a total all your money still have the same buying value as the year before. minus ofcourse the 100% - 90% difference. actually the fact that only 10% of the total bank notes were in circulation may make them offset the 100% rise in prices or even make them worth more(as is happening with STEEM right now), because of their low supply, finally a balance will be reached. It may not make sense for a bank/goverment to do this but I think that in STEEM this puts some obstacles in whales to supress the price or f#ck the market as they see fit and also helps to move STEEM mostly in the hands of hodlers. If you hold liquid STEEM long term YOU ARE BURNED!!! unless of course demand is more than supply and even the liquid "inflationary" steem rises in price. |
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...
btw I believe bitcoin is more prone to burn and crash in price(a catastrophic cripling scenario) than STEEM, with STEEM the average Joe is starting to use crypto, at least thats my impression.
lololol Maybe you should put together a 200-page dissertation on this meditation and post it to steem(ing pile of shit). I'm sure you'll be rolling in the steem dollars and widely regarded as a gentleman and a scholar. Instead of this I choose to place a picture in my profile, I find this more amusing!  |
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Yep that's correct, as i said in a previous post. short term steem price is likely to go up, however when growth of the platform hits the limit there will be nothing to offset the 100% yearly inflation , i suspect we won't even have to wait for this limit to be reached because buy support today is way too low to compensate for the 100% inflation, the only reason price does nt drop now is because people are hoarding, the crash wont be pretty when everyone realize this is similar to a ponzi
You are wrong in this, yearly inflation is 10% or less. Growth doesn't need to be more than 10% per year to offset this. The fact that the less than 10% of STEEM that is liquid is inflationary/debased/whatever by 100% doesn't affect the STEEM POWER holders that recieve new coins every year, cheaper but more coins that as a sum somewhat protect you from inflation, bitcoin had the same inflation too. |
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Indeed demand can offset debasement, but when price turns down that is a bitch. Eventually you'll run out of new fools to give you their money to give away to those with high rep power.
Price of course can and will go down at times, but I can't see why price flactuations is a problem, now if you are talking about a catastrophic scenario, well this can happen anywhere and at anytime, not only in crypto. btw I believe bitcoin is more prone to burn and crash in price(a catastrophic cripling scenario) than STEEM, with STEEM the average Joe is starting to use crypto, at least thats my impression. |
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SD or STEEM Dollars protect you from STEEM hyperinflation silly.
Not really. That is a gimmick in the design attempting to fool you. The SP are debased at 10%, but the main tokens at 100%. But the problem is the SP may also fall in exchange value due to the 100% debasement of the main tokens. You can't have everyone move to SP and still debase what is left at 100% and not also effectively debase the SP at 100%. Mathematically impossible. The mere fact that STEEM is 100% inflationary dosn't mean that it will be debased at 100% or at any rate at all, demand is key and with much less than 10% in liquid STEEM demand will always be high, right now for example demand is out of the charts and not only SP but also STEEM is gaining tremendous value(don't know for how long) instead of being debased. |
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don't waste your time with this troll(albert11)... when he gets all the aswers he will start asking some stupid questions from scratch again...
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The steem power is locked for 2 years and you can only cash out 1/10th per week. At least that is my understand of it. So steam power holders can only cash-out gradually.
1/104 |
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says the one with a bigass steem signature ... wonder who the troll really is..
I'm sorry If you think that I robbed you of your title! |
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The financial pyramid here is the need to keep the growth of the market cap faster than the growth of new bloggers, else the payouts per blogger will decline.
Is this any different than bitcoin? Did bitcoin had to grow its marketcap faster than the mining difficulty? why is it different with STEEM? |
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