Steem pyramid scheme revealed

[flipme]

The pissing contest will end sooner or later. Its mostly lame crap, regurgitated non-news, rewritten bullshit that gets upvoted.
Nobody is reading it. Everybody is writing for the sole purpose to attract votes, the content is marginal. Unique, but lame shit nevertheless.
Look at the trending page, its embarrassing. A course in typography gets a couple of grands. Interesting stuff gets nothing.
Won't work like this.

[iamnotback]

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.

[iamnotback]

The pissing contest will end sooner or later. Its mostly lame crap, regurgitated non-news, rewritten bullshit that gets upvoted.
Nobody is reading it. Everybody is writing for the sole purpose to attract votes, the content is marginal. Unique, but lame shit nevertheless.
Look at the trending page, its embarrassing. A course in typography gets a couple of grands. Interesting stuff gets nothing.
Won't work like this.

The greater point is that most vast majority of people in the world don't put reading blogs up high on the priority list of important activities.

[AlexGR]

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

[flipme]

The pissing contest will end sooner or later. Its mostly lame crap, regurgitated non-news, rewritten bullshit that gets upvoted.
Nobody is reading it. Everybody is writing for the sole purpose to attract votes, the content is marginal. Unique, but lame shit nevertheless.
Look at the trending page, its embarrassing. A course in typography gets a couple of grands. Interesting stuff gets nothing.
Won't work like this.

The greater point is that most vast majority of people in the world don't put reading blogs up high on the priority list of important activities.

Yes, its just not entertaining at all, the average political correct dribble. And some real nonsense from real arseholes, like this psycho dollarvigilante bullshit and that DEA ex-cop e.g. Once a cop, always a cop is all I could say. People get fooled too bad over there.

Its just so fishy, trying to keep it mainstream, nothing really outstanding, although the given possibility of immutable unmoderated news and content. And nobody ever gets to know how often a post was read. Missing out on that parameter, for the audience and for the valuation is just plain stupid.

[iamnotback]

Blogging is such a small ecosystem. The entire point was to onboard the masses and get them into many forms of digital commerce employing the STEEM token. But the paradigm of paying rewards for blogs isn't working as a viral mechanism to reach the masses. Since the Steem blockchain is designed around that onboarding paradigm, it isn't likely that other projects will be created within the ecosystem that leverage the blockchain for new activities which achieve the goal of onboarding the masses. Then again, I am not omniscient so I shouldn't say I couldn't be surprised.

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.

Also although I haven't studied the design, I intuitively expect the blockchain was incorrectly designed w.r.t. to issues revolving around how content is databased and accessed in terms of scaling out to billions of users and diverse content paradigms.

Read @misgivings posts. What is the economic value? How many people is he onboarding with those blogs about relationships? Are there really large groups of people who want to read obvious ramblings? People must have a lot of time to waste. Actually I don't think people have time to waste. They are more inclined to adopt addictive activities, efficient activities that solve some core need, or activities which reward their emotions. There is a lot of theory written about gamification.

I actually hope there are real economic benefits for people that we can unlock within a cryptocurrency ecosystem. When you have masses doing business and commerce, then you'll have something sustainable. I am trying[2] to develop something along these lines.

[1] My blog posts would probably earn much less in the paradigm I am thinking of implementing. So isn't like I am complaining about being able to earn $500 - $1500 for a blog post. I can't however find it within myself to write some self-help melodrama to really extract maximum rewards from the culture.

[2] Emphasize "trying", because I still have fucking autoimmunity health problem which sucks up so much of my energy and effort every day.

[flipme]

I think it could have worked, but the power to control the evolution of the content was given to the wrong people, making unfortunate decisions, based on wrong assumptions. I think its broken already. Simple management failure.

[AlexGR]

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...

[Zer0Sum]

I think it could have worked, but the power to control the evolution of the content was given to the wrong people, making unfortunate decisions, based on wrong assumptions. I think its broken already. Simple management failure.

Like I've been pointing out...
There is nothing resembling a Business Plan. What on earth does Ned do anyway?

The only conceivable thing regarding Steemit you could call "revenue" is investors propping up STEEM...
But now that STEEM is in a death spiral... the Whales are racing to strip the carcass clean ASAP.

So instead of inventing a stable platform, maybe Dan invented a system guaranteed to implode 

[iamnotback]

Well Neil Strauss did post an intelligent comment on my blog, so that was gratifying:

https://steemit.com/relationships/@anonymint/monogamy-is-an-evolutionary-strategy#@neilstrauss/re-anonymint-monogamy-is-an-evolutionary-strategy-20160826t011534948z

[DecentralizeEconomics]

Like I've been pointing out...
There is nothing resembling a Business Plan. What on earth does Ned do anyway?

Don't you get it yet? ... Ned's the "fall guy".

[iamnotback]

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...

I believe I will prove your bolded statement incorrect if I succeed on implementing what I am working on now.

Nothing you wrote refutes my claim, "reward content according to the metrics that matter the most for the goal we are trying to achieve".

Read carefully from the word "metrics" forward.

[iamnotback]

I think it could have worked, but the power to control the evolution of the content was given to the wrong people, making unfortunate decisions, based on wrong assumptions. I think its broken already. Simple management failure.

Like I've been pointing out...
There is nothing resembling a Business Plan.

Agreed. And to have that plan, the structure of the token needs to be quite different. You can't entirely remove the incentive for speculators to bet medium-term by forcing them to lockup their funds for 1 year weighted average, else subject to 50%  annual haircut due to dilution (actually 150% recently).

And you've got to be able to have a viral onboarding mechanism and a verifiable meritocracy which also is driving long-term investment into the site by the participants, which will eventually drive token based commerce.

All of these factors are incorporated into what I am working on now.

And I have the killer 5 letter name for a social network based around content on a blockchain. The name was staring me right in the face and I didn't realize it, until I tried to simplify. I think this name is up there in the class of the Facebook, Twitter, etc..

But probably I need to partner with another developer, because I can't seem to completely eliminate my health problem. Very frustrating. I am trying everything (putting all out effort every day). A photo verification of my health problem is coming in my next blog, because I decided to go ahead and post these videos we made in July.

[danherbias07]

I think it could have worked, but the power to control the evolution of the content was given to the wrong people, making unfortunate decisions, based on wrong assumptions. I think its broken already. Simple management failure.

Like I've been pointing out...
There is nothing resembling a Business Plan.

Agreed. And to have that plan, the structure of the token needs to be quite different. You can't entirely remove the incentive for speculators to bet medium-term by forcing them to lockup their funds for 1 year weighted average, else subject to 50%  annual haircut due to dilution (actually 150% recently).

And you've got to be able to have a viral onboarding mechanism and a verifiable meritocracy which also is driving long-term investment into the site by the participants, which will eventually drive token based commerce.

All of these factors are incorporated into what I am working on now.

And I have the killer 5 letter name for a social network based around content on a blockchain. The name was staring me right in the face and I didn't realize it, until I tried to simplify. I think this name is up there in the class of the Facebook, Twitter, etc..

But probably I need to partner with another developer, because I can't seem to completely eliminate my health problem. Very frustrating. I am trying everything (putting all out effort every day). A photo verification of my health problem is coming in my next blog, because I decided to go ahead and post these videos we made in July.

That is one of the things that I didnt like with that website. Locking up money for a year? That is way too obvious that something will get wrong once the funds get really high that it could cover all the wrong things they have done.

[bbc.reporter]

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.

[bones261]

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.

It may never go up. It's just like every coin that cranks out coins at a high rate. Sure, lots of it is tied up in SP. However, the market can't keep up with all the people powering down, and dumping. Don't catch falling knives. If you want more Steem, just mine it or blog and get lucky. Too bad Poloniex does not offer Margin trading for Steem. Someone could make a fortune shorting it.

[DecentralizeEconomics]

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.

[bbc.reporter]

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.

It may never go up. It's just like every coin that cranks out coins at a high rate. Sure, lots of it is tied up in SP. However, the market can't keep up with all the people powering down, and dumping. Don't catch falling knives. If you want more Steem, just mine it or blog and get lucky. Too bad Poloniex does not offer Margin trading for Steem. Someone could make a fortune shorting it.

The people who committed by converting to Steem Power must be kicking themselves right now. How can a person like Tai Zen trap himself like that? He is one of the most learned and well informed people in crypto.

[flipme]

Well Neil Strauss did post an intelligent comment on my blog, so that was gratifying:

https://steemit.com/relationships/@anonymint/monogamy-is-an-evolutionary-strategy#@neilstrauss/re-anonymint-monogamy-is-an-evolutionary-strategy-20160826t011534948z

Oh please, bitch. Fuck one, fuck them all, who cares?

[iamnotback]

Well Neil Strauss did post an intelligent comment on my blog, so that was gratifying:

https://steemit.com/relationships/@anonymint/monogamy-is-an-evolutionary-strategy#@neilstrauss/re-anonymint-monogamy-is-an-evolutionary-strategy-20160826t011534948z

Oh please, bitch. Fuck one, fuck them all, who cares?

Your laserbeam focus is admirable, yet I still find it useful to try to understand society. I think such interests of mine will be applicable to actually succeeding what we are trying to do with a mass market onboarding.

Also I find it useful to not repeat the mistakes I made in my youth because I didn't understand certain facts of nature (and to share these theoretical insights with other men, especially the younger generation who are my cohort cryptonerds of which many seem to have adopted a promiscuous non-marriage stance in reaction to the high level of divorce in our Western society):

Mostly rich alfa males pay for theirs children

It is all the children of those visible alpha-males you don't know about, and all the alpha-males which aren't visible. Do you think public personalities don't cultivate the image that they want you to believe. I think you are naive.

Also, you seem to have missed my point that the bad boys are often "fake" alpha-males. Women's hindbrains seem to be instinctively tuned to be impregnated by these indicators, which fool them into thinking these "bad boys" are alpha-males. And to some extent, that makes them alpha-males in the sense that expend their time and effort being superior to other men in terms of producing offspring yet also typically very unproductive for society in any other metric (c.f. my reply to @neilstrauss). You could read for example James A. Donald's blog post about a female attorney who has been fucking bad boys all her life and is now age 30-something and running out-of-options (because her hindbrain fooled her). Or other women who divorce their subservient husbands, destroying the children.

I have an ex with 3 more children from afaik 3 different men, for example. And I pay her monthly, because the government in the USA will revoke my passport if I don't. I'd probably pay her something any way, but I wouldn't have been paying the $1000s per month she was demanding (requesting) from me during past years (which I no longer pay). And I empathize with her inability to remain productive and choose more wisely. At least now I understand why she couldn't (and her 40s are approaching so it is winding down).

P.S. I've been at different times of my life a "bad boy" and a very productive entrepreneurial software developer. So I speak from my experiences.

Some interesting debate ensued which is what we really need to make blogging somewhat productive and interesting for the Reddit demographics:

It could be correlated with precisely the theory I am presenting in this blog post, in that engineering is a profession focused on production and practice, not on theory. Monogamy (and other group compliance paradigms such as religion) appears to me (see also my comments on this page) to be a strategy to keep men productive. So those men which subscribe to being productive are more inclined to want to see the world as structured in a conducive way to production versus chaotic genetic diversity. OTOH, it can also be argued that the Humanities are elite political agenda indoctrination camps (with heapings of theoretical bullshit and massaging statistics to tell any story desired). Isn't life wonderfully complex. I love it.