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Author Topic: Steem pyramid scheme revealed  (Read 106645 times)
iamnotback
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October 18, 2016, 04:56:48 AM
 #981

We'll just keep selling bearings in Peru.

That will very likely continue and boom after China bottoms in 2020 and starts heading back up. Latin American has the youth and needs to develop. China and Asia will be investing in Latin America.

Don't get yourself in trouble with the powers-that-be. You have a stable business already.

I still think the big market not tapped by Bitcoin is something combining blockchains and social media. I think this is still an area to explore. But I think it needs to accomplish spreading crypto-currency to millions and millions of users, especially those in the developing world if possible. At least that is likely where my focus will be if I ever get something developed in altcoin land.

And if BTC or USA stocks go WAY UP in an Uncle Janet (Yellen) / Obama / Hillary set of scenarios, I hope I can sell near the top.  LIMA is starting to get nice (it's springtime there now).

My guess is they both doubles or triples over the next year or two.

Yeah living in the wilderness with no shelter isn't easy. I mean living off the land such as a small rural house and farm.
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October 18, 2016, 06:23:31 AM
 #982

Who agrees with me that the goal of defeating the powers-that-be with a blockchain should not be the goal?

It has been an important learning process for me.

There is absolutely no way you could get the Trump supporters to believe their savior Wikileaks is actually the source of their enslavement. You wouldn't even be allowed to get the message out to them.

There is no way you could create a popular Internet service and prevent it from being be co-opted by the elite.

You simply won't be allowed to.

We all here pretend we could be free. We won't succeed. None of us. Look yourself in the mirror and ask if you've come to grips with your enslavement or if you are still in denial.

If you've swallowed the blue pill, then there is nothing to say to you. If you've swallowed the red pill as I have, then its time to realize you are only free when you need nothing, not even to eat. When you walk away with nothing into the wilderness, then you are free. Free to die, free to be attacker by parasites and predators, and free to go hungry.


Create something popular with a viable business model. Even use a blockchain for the properties it can provide such as being both a speculation and a unit-of-exchange, but just forget about this nonsense ideology of defeating Soros with a blockchain. It isn't going to happen.

Help them spread crypto-currency over the globe, then maybe they won't mind you are offering an alternative to their Bitcoin plan. But don't go in thinking you can defeat the powers-that-be with technology.

Decentralization for enabling a huge ecosystem because no one has to trust the a centralized entity is good. Decentralization for trying to defeat the globalists is suicide.

Any agree or disagree?



So many stimulating and relevant subjects. I've certainly considered that wikileaks could be controlled opposition. Stranger things have occurred in the past. The machine is so overarching and extensive I do not believe anything short of a total collapse would dislodge the current PTB, and even if it did with the contingency that they all would have for such an event I also believe the nature of humanity would simply coalesce or revert back to the natural order- which probably wouldn't be far off what exists now. MA's work has shown me that history is close to being a repetitive cycle and while people on this forum may intellectually stand against the current, the river will continue to flow past you and eventually we will all be swept along with everyone.
This isn't as fatalistic as it seems as as individuals we still have many choices on how we shape our personal circumstances, I just don't believe in the power of anything to dislodge TPTB.
Further to that I do not think that bitcoin is beneath their notice- just see the list of banks and associated startups with their foray into blockchain tech. In a way this forum has been an extensive and thorough experiment before established players started dipping their toes in.

Like other comments here suggest I've been looking to increase my ability to provide- the chaos that could potentially be ahead could wipe the value of almost anything you invest in now. With a backup plan to get my ass to the countryside in a worse case scenario.




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r0ach
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October 18, 2016, 05:32:01 PM
 #983

I just don't believe in the power of anything to dislodge TPTB.

It's called the alt-right and guillotines.

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bigtimespaghetti
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October 18, 2016, 05:53:27 PM
 #984

I just don't believe in the power of anything to dislodge TPTB.

It's called the alt-right and guillotines.

You miss my point- I do not believe the current PTB are all powerful, of course they can be destroyed in such a manner.

Don't get me wrong, the west is descending further and further and it truly saddens me. My conclusion is that ultimately any fundamental change is and will be slow and painstaking for the good. I'm yet to be convinced that what is called the 'alt-right' or any other movement will be galvanised to take real action or that their numbers indicate any significant portion of the population... Not yet anyway and I'm not sure that the alt-right or any other associated anti-establishment group will be happy with the result when *mass* action *is* taken.

Action will come when things get ugly and in that case I imagine they'll be a change of the guard, hopefully better- quite possibly worse. Besides when and if the SHTF I'll be concentrating on keeping my family and close ones safe and so will most others. Revolution will be a catharsis, no doubt. I'm just not sure about the outcome.




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October 18, 2016, 07:14:24 PM
Last edit: October 20, 2016, 01:20:10 AM by AlexGR
 #985

Who agrees with me that the goal of defeating the powers-that-be with a blockchain should not be the goal?
...
Decentralization for enabling a huge ecosystem because no one has to trust the a centralized entity is good. Decentralization for trying to defeat the globalists is suicide.

Any agree or disagree?

The only way TPTB can be defeated is by the rise of consciousness. And I don't mean that in terms of people having a better political awareness - but something more radical: The transformation of the human species into its successor species.

Ape + (merging of) higher intellectual capacities ===> new species of humans
Human + (merging of) higher spiritual capacities ===> new species of humans v2.0 or "God-humans".

The reason why TPTB cannot be defeated is because their role is programmed into this reality domain to act as catalysts for the emergence of the God-human. Without the environmental triggers, the transformation cannot occur.

In more practical terms, digital money was a long-term goal for the Elite because they could control people like never before. They could track all buying habits as well as be able to switch off any individual they wanted. You don't play by our rules? We shut down your ability to transact. This was probably going to be implemented around the 2020 timeframe.

Enter bitcoin. Bitcoin pre-empted, to some degree, this nightmarish future by giving people an alternative (non-centralized) form of money. Bitcoin, by its very existence as an alternative to a 100% controlled money system, has been a success because it shows that it is possible to use alternative, non-centralized currencies. This means that the kill-switch option of the Elite, regarding individuals, would trigger mass reaction and adoption towards alternative decentralized currencies - because that option now exists.

I think the Elite can easily kill Bitcoin but they won't (unless the timing is right for them), because by doing so they would be catalyzing the next iteration that shuts down the attack vectors used.

In the meantime, and while we haven't yet reached the nightmare scenario of being controlled by a global electronic money system of the Elite, we can take advantage of Bitcoin and altcoins to bypass the high level of banking fees, which is another way of impoverishing the people: If you take 1-2$ for every 100$ moved, then by the time these 100$ have moved 50-100 times between people, you've also pocketed (as a bank) the starting amount equivalent in fees.
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October 18, 2016, 08:40:58 PM
 #986

Who agrees with me that the goal of defeating the powers-that-be with a blockchain should not be the goal?
...
Decentralization for enabling a huge ecosystem because no one has to trust the a centralized entity is good. Decentralization for trying to defeat the globalists is suicide.

Any agree or disagree?

The only way TPTB can be defeated is by the rise of consciousness. And I don't mean that in terms of people having a better political awareness - but something more radical: The transformation of the human species into its successor species.

Ape + (merging of) higher intellectual capacities ===> new species of humans
Human + (merging of) higher spiritual capacities ===> new species of humans v2.0 or "God-humans".

The reason why TPTB cannot be defeated is because their role is programmed into this reality domain to act as catalysts for the emergence of the God-human. Without the environmental triggers, the transformation cannot occur.

In more practical terms, digital money was a long-term long for the Elite because they could control people like never before. They could track all buying habits as well as be able to switch off any individual they wanted. You don't play by our rules? We shut down your ability to transact. This was probably going to be implemented around the 2020 timeframe.

Enter bitcoin. Bitcoin pre-empted, to some degree, this nightmarish future by giving people an alternative (non-centralized) form of money. Bitcoin, by its very existence as an alternative to a 100% controlled money system, has been a success because it shows that it is possible to use alternative, non-centralized currencies. This means that the kill-switch option of the Elite, regarding individuals, would trigger mass reaction and adoption towards alternative decentralized currencies - because that option now exists.

I think the Elite can easily kill Bitcoin but they won't (unless the timing is right for them), because by doing so they would be catalyzing the next iteration that shuts down the attack vectors used.

In the meantime, and while we haven't yet reached the nightmare scenario of being controlled by a global electronic money system of the Elite, we can take advantage of Bitcoin and altcoins to bypass the high level of banking fees, which is another way of impoverishing the people: If you take 1-2$ for every 100$ moved, then by the time these 100$ have moved 50-100 times between people, you've also pocketed (as a bank) the starting amount equivalent in fees.

Bill and Hillary say hi!
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October 18, 2016, 10:42:25 PM
 #987

The only way TPTB can be defeated is by the rise of consciousness.

When people see the Zionists using America as a puppet state, playing a game of high stakes chicken with Russia that can result in nuclear war and everyone on the planet dying solely so they can try to expand Israeli territory, they have obviously overstepped their shylock bounds and it's only a matter of time before a military coup de tat happens with people like Soros, Kissinger, the Rothschilds and the rest of them running the media and banks being hunted down internationally.


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iamnotback
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October 19, 2016, 12:08:28 AM
 #988

Here is my follow-up thoughts on that...

In short, fuck the politicians and globalists! Let's build something popular which is not illegal. Stop wasting our time on nonsense.

Let me quote Hillary in response, "What difference does it make!".

Who cares if he is consciously evil and part of a diabolical plan, or if he is just influenced by his youth and following an ideology that resulted from being abused as a child. Aren't we all?

The human condition is becoming more apparent to me. I see myself now. Reactionary. Ideological. Fighting daemons from my past. All of us are.

Success is stripping away that addiction and focusing on production. Put the blinders on, we have a horse race to win. Everything else will fall where it may.

...

I am moving on to what I can do. Seems more sane.

...

But for me, it doesn't seem to benefit me to know that information. All I can see is that it made me crazy paranoid and caused me to lash out trying to find solutions for problems that can't be solved.

I am an engineer. It means I want to creatively find solutions to problems or improvements that can be made to our quality of life.

I don't see any point to analyzing something if I can't do something about it or if doesn't help me make some decision.

I don't see how any of my decisions would change based on knowing the shenanigans of the evil globalists. I don't think it impacts where I would choose to live. I don't think it impacts which projects I should work on. Well actually maybe by being so paranoid I would work on projects that are unrealistic instead of ones that could actually generate a profit.

...

But I think the actual shit is hitting the fan now. I don't want to be depressed all the time, because that is one of the psyops as you know. They try to wear us down.

...

I realize my statement was very abrupt to cut off giving mental and emotional
energy to globalism.

I just realize it is a waste. It is intractable. It has been part of the
human condition since Mesopotamia. Yeah the devices of enslavement have
changed from whips and rope, to digital control, yet it is the same shit.

It won't ever stop. It is part of humanity. The epipheny is to not wrap
my life around that. Uninteresting now that I think about it from that
perspective.
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October 19, 2016, 06:25:40 AM
 #989

Who agrees with me that the goal of defeating the powers-that-be with a blockchain should not be the goal?

It has been an important learning process for me.

There is absolutely no way you could get the Trump supporters to believe their savior Wikileaks is actually the source of their enslavement. You wouldn't even be allowed to get the message out to them.

There is no way you could create a popular Internet service and prevent it from being be co-opted by the elite.

You simply won't be allowed to.

We all here pretend we could be free. We won't succeed. None of us. Look yourself in the mirror and ask if you've come to grips with your enslavement or if you are still in denial.

If you've swallowed the blue pill, then there is nothing to say to you. If you've swallowed the red pill as I have, then its time to realize you are only free when you need nothing, not even to eat. When you walk away with nothing into the wilderness, then you are free. Free to die, free to be attacker by parasites and predators, and free to go hungry.


Create something popular with a viable business model. Even use a blockchain for the properties it can provide such as being both a speculation and a unit-of-exchange, but just forget about this nonsense ideology of defeating Soros with a blockchain. It isn't going to happen.

Help them spread crypto-currency over the globe, then maybe they won't mind you are offering an alternative to their Bitcoin plan. But don't go in thinking you can defeat the powers-that-be with technology.

Decentralization for enabling a huge ecosystem because no one has to trust the a centralized entity is good. Decentralization for trying to defeat the globalists is suicide.

Any agree or disagree?



part 1.

Everything is connected. Even Martin Armstrong talks about his data in terms of multiple variables. Here is a question, does the torrent network defeat TPTB? or the zeronet? or the legalization of cannabis? or growing our own food? or the internet? or social media? or 3d printing? or alt energy? or large gatherings of free people? or free market places? or freedom over our bodies? or freedom of religion? freedom of speech? free communication etc.

Is the power of TPTB in the regulation of these things? Does TPTB get weaker the more we exercise freedom from them? Do we even need a technology to BE FREE? It's like we are back to the Bill Clinton moment of what the definition of IS is. Who are TPTB and what are their powers and what does it mean to defeat them? If everything is connected then we are all connected and TPTB are also us, as in all 7.4 billion of us.

Quote
Decentralization for enabling a huge ecosystem because no one has to trust the a centralized entity is good.

The human condition has caused political greed/power and has consistently wrecked societies for hundreds if not thousands of years. Would a shift in consciousness defeat TPTB? barring that, a technology that  "no one has to trust a centralized entity" is def a step in the right direction.

I never thought the blockchain was going to solely defeat TPTB. Rather TPTB have had a monopoly on various technologies. And in a nutshell TPTB act like spoiled brats and it's up to the adults to take away their toys. Once they have lost their powertoys then are they defeated?

Quote
Decentralization for trying to defeat the globalists is suicide.
Not necessarily. I'd imagine the solution(s) which will spring from an uncontrolled decentralized source(s) will be like a snowball rolling downhill that was sparked by the hundredth monkey. I believe it will go, how you say...Viral.

more in pt 2



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October 19, 2016, 02:20:17 PM
 #990

Can't believe I dropped 3.5 BTC into SP lol... I knew it was a joke but thought just maybe it could continue the hype momentum for a while and the interest gained via SP would help, but nope. My wallet was worth $1500 then and around $400 now. I don't even know if I should power down... if this crazy inflation keeps up by the 50th week each payment is gonna be worth pennies

When I was telling you all what would happen from the start of this thread? Ditto when I said what would happen to Ethereum. I don't understand how anyone could have bought SP and locked up their funds for 1 year time weighted average.

Well it is useless for you to power down, you might as well hold and hope it recovers someday meanwhile all your captured inflation ongoing. My balance is 4000+ SP and it is hardly worth powering, since I get about $15 per week now and declining.


I think I was around from the start-mid start of this thread, I bought in before Steem reached $1 and pumped to $3.5 .... I took a chance hoping that maybe this was something special and would pay off before going belly up. I knew locking your investment for 2 years was a trap but took the chance anyway.

I agree though, might as well not power down. Although for you $15/week in BTC isn't terrible. It may be worth it when BTC rallys




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iamnotback
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October 19, 2016, 07:20:06 PM
Last edit: October 19, 2016, 08:05:19 PM by iamnotback
 #991

Who agrees with me that the goal of defeating the powers-that-be with a blockchain should not be the goal?

It has been an important learning process for me.

There is absolutely no way you could get the Trump supporters to believe their savior Wikileaks is actually the source of their enslavement. You wouldn't even be allowed to get the message out to them.

There is no way you could create a popular Internet service and prevent it from being be co-opted by the elite.

You simply won't be allowed to.

We all here pretend we could be free. We won't succeed. None of us. Look yourself in the mirror and ask if you've come to grips with your enslavement or if you are still in denial.

If you've swallowed the blue pill, then there is nothing to say to you. If you've swallowed the red pill as I have, then its time to realize you are only free when you need nothing, not even to eat. When you walk away with nothing into the wilderness, then you are free. Free to die, free to be attacker by parasites and predators, and free to go hungry.


Create something popular with a viable business model. Even use a blockchain for the properties it can provide such as being both a speculation and a unit-of-exchange, but just forget about this nonsense ideology of defeating Soros with a blockchain. It isn't going to happen.

Help them spread crypto-currency over the globe, then maybe they won't mind you are offering an alternative to their Bitcoin plan. But don't go in thinking you can defeat the powers-that-be with technology.

Decentralization for enabling a huge ecosystem because no one has to trust the a centralized entity is good. Decentralization for trying to defeat the globalists is suicide.

Any agree or disagree?



part 1.

Everything is connected. Even Martin Armstrong talks about his data in terms of multiple variables. Here is a question, does the torrent network defeat TPTB? or the zeronet? or the legalization of cannabis? or growing our own food? or the internet? or social media? or 3d printing? or alt energy? or large gatherings of free people? or free market places? or freedom over our bodies? or freedom of religion? freedom of speech? free communication etc.

Is the power of TPTB in the regulation of these things? Does TPTB get weaker the more we exercise freedom from them? Do we even need a technology to BE FREE? It's like we are back to the Bill Clinton moment of what the definition of IS is. Who are TPTB and what are their powers and what does it mean to defeat them? If everything is connected then we are all connected and TPTB are also us, as in all 7.4 billion of us.

Quote
Decentralization for enabling a huge ecosystem because no one has to trust the a centralized entity is good.

The human condition has caused political greed/power and has consistently wrecked societies for hundreds if not thousands of years. Would a shift in consciousness defeat TPTB? barring that, a technology that  "no one has to trust a centralized entity" is def a step in the right direction.

I never thought the blockchain was going to solely defeat TPTB. Rather TPTB have had a monopoly on various technologies. And in a nutshell TPTB act like spoiled brats and it's up to the adults to take away their toys. Once they have lost their powertoys then are they defeated?

Quote
Decentralization for trying to defeat the globalists is suicide.
Not necessarily. I'd imagine the solution(s) which will spring from an uncontrolled decentralized source(s) will be like a snowball rolling downhill that was sparked by the hundredth monkey. I believe it will go, how you say...Viral.

more in pt 2

I've had similar thoughts and written them on Bitcointalk.

There is at least one constant, inviolably by the Gaussian distribution, which is that the elite-most will always be able to manipulate the psychology of the masses and that will never change.

So if you think you will overrule their political power by any means, then you are futilely attempting to violate the inviolable Gaussian distribution.

I agree that individual empowerment via technology which can't be centralized is a reduction of the efficacy of political power. Problem is that most everything can be centralized via political force, especially when we put Smart meters on every home that track every movement and action every where.

It seems to me that the next frontier for technology is transhumanism, so that we can escape from our physical bodies. That may be the only way to respond to asymmetrical political control. All our technological advance is being held hostage by the fact that we still live in these physical bodies which are so easy to subjugate with digital tracking. We need to raise the ante, by digitizing our existence so there isn't a choke point where our physical body interacts with the digital highway, e.g. the IP address. Once our existence is inside the digital highway, then anonymity becomes much more plausible because total orders don't exist.

180 IQ Freeman Dyson got me thinking about this aspect when he pointed out we are shifting to horizontal gene transfer, i.e. mix-and-match species:

Quote
Quote
I would argue that it will play out over a longer period of time.
Here is the Jewish view on the future and how it will play out.

http://www.beingjewish.com/soul/future.html

If I believe it, does that alone make it real.

It makes it real for you

That was my point. ;-)

Btw, the following points by Freeman Dyson are going to tantalize your mind:

https://www.edge.org/discourse/dawkins_dyson.html

Now I understand why Eric S. Raymond (160 IQ) said he felt like the slow kid in the family when he ate breakfast with the Dysons.

Dyson is speaking about what CoinCube had pointed out about a balance between evolving too fast and losing too much information versus not evolving fast enough.

As it turns out, Dyson is correct that evolving too fast remains always the outcome (see his reply to Richard Dawkins), as nature routes around the mature species by chaotically rendering it extinct.

Thus I was correct to favor a higher rate of disobedience within the species and also because Dyson seems to be correct that horizontal transfer is exponentially faster than Darwinian evolution! I need to spend some more time thinking about all the implications of this and make a followup to my article "INformation is Alive!".

Dyson declared in 2000 that he is a non-denomination Christian. They say his IQ is in the 180 range.

I don't have as high an IQ as him (I lack the memory and fast computational engine), but I share his love for being a contrarian and I do seem to have a very IQ in terms of mapping concepts in my mind (but I first have to get rid of all the symbols and other translational noise that clutters my parallel visualization engine, because I don't have an exceptional IQ in the realm of I/O and sequential processing).
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October 21, 2016, 07:25:33 PM
 #992

There is at least one constant, inviolably by the Gaussian distribution, which is that the elite-most will always be able to manipulate the psychology of the masses and that will never change.

So if you think you will overrule their political power by any means, then you are futilely attempting to violate the inviolable Gaussian distribution.

I agree that individual empowerment via technology which can't be centralized is a reduction of the efficacy of political power. Problem is that most everything can be centralized via political force, especially when we put Smart meters on every home that track every movement and action every where.

To align with what Rothshild and Soros appear to be doing with Wikileaks, i.e. the manipulative/blackmail destruction of the nation-states in order to usher in global monetary and governance systems, a crypto-currency which is global, widely adopted, and stored on a blockchain seems to be synergistic to their goals.

If we can also put some anonymity technology in it which only the TPTB can violate, they will love this even more. Because it means privacy for the common person, but TPTB can blackmail anyone they wish to. Based on all my in-depth study of anonymity technology, it is impossible to be anonymous to the NSA if they want to track you they can. But TPTB are not going to have the resources to track every person who is using anonymity very carefully. They will have to pick those targets which are most valuable to them.

So my goal is to create something popular and further the inexorable and inevitable move towards globalism, while also providing the common person many new capabilities and also offer investors an enormous opportunity.

Enough of the bullshit about defeating TPTB, let's get on with competing with Mark Zuckerberg and the best of the best in the Silicon valley.
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October 21, 2016, 07:52:50 PM
 #993

Can't believe I dropped 3.5 BTC into SP lol... I knew it was a joke but thought just maybe it could continue the hype momentum for a while and the interest gained via SP would help, but nope. My wallet was worth $1500 then and around $400 now. I don't even know if I should power down... if this crazy inflation keeps up by the 50th week each payment is gonna be worth pennies

When I was telling you all what would happen from the start of this thread? Ditto when I said what would happen to Ethereum. I don't understand how anyone could have bought SP and locked up their funds for 1 year time weighted average.

Well it is useless for you to power down, you might as well hold and hope it recovers someday meanwhile all your captured inflation ongoing. My balance is 4000+ SP and it is hardly worth powering, since I get about $15 per week now and declining.

I was here near the beginning of this thread too, and I agreed with you for the most part... I just decided to take a chance hoping this hype train would actually work out. I was hoping maybe this is something special, even though locking up your investment for 2 years sounds stupid. The interest rate does not help you retain your value at all.... it's like your SP is designed to suck out your actual money and re-distribute it to everyone else, while SP is advertised as a "savings" account that will grow your money. It grows your SP but not what it's actually worth.


At least you get $15/week... I would power down if I were you. $15 worth of BTC today could be worth $30 in a month.

Me on the other hand, I only have 1000 or so SP, which is less than $5/week... and next week it will be worth even less. So yeah, fuck it... I lost that money. I fell for the Steem scam




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iamnotback
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October 21, 2016, 09:02:48 PM
 #994

Me on the other hand, I only have 1000 or so SP, which is less than $5/week... and next week it will be worth even less. So yeah, fuck it... I lost that money. I fell for the Steem scam

The question is whether STEEM will morph into something that will gain adoption and flourish.

Mrs.Steemit posted a chart which is a topic @smooth and others including myself have discussed in the past.



I believe the reason the adoption cycles are getting shorter is a combination of:

  • Instantaneous/ubiquitous access
  • Decentralized rollout and network effects
  • Information (thus economic) utility increasing due to rich media and symmetrical network effects of the participant is a publisher/producer, not only a reader/consumer
  • Technology becoming social

STEEM has a decentralized blockchain, but it doesn't have a decentralized ownership and rewards mechanism. That flaw inhibits the network effects that drive the enumerated list above. You can say that Facebook doesn't have decentralized ownership and that is irrelevant because Facebook provides rewards to the ecosystem in the form of economies-of-scale. Yet a truly decentralized system would trounce Facebook in speed-of-innovation.

To make a really powerful social and technology phenomenon with a blockchain, we will need massive network effects and a compelling use case.
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October 21, 2016, 11:32:11 PM
 #995

Riding the Steemit pyramid once more:

The Red pill, Blue pill Election — NYC slumlord vs. Globalists

I put a lot of effort into that and I think it is quite insightful.

120 votes earns $3.62 on Steemit now. Be lucky if I can even get $1 of that actually out.

So that should most likely be my last post ever on Steemit.

Exactly as I predicted, it played out. Irrevocably destroyed by the whale concept.
first things first i am not a fan of steemit and i just dont find it amusing either but explained to my wife about it as she is a blogger and i want to know,why is it you are not possible to get the money out and what is the minimum amount you can withdraw from it, is it a legit project.



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bones261
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October 22, 2016, 02:14:26 AM
Last edit: October 22, 2016, 04:07:04 AM by bones261
 #996

Riding the Steemit pyramid once more:

The Red pill, Blue pill Election — NYC slumlord vs. Globalists

I put a lot of effort into that and I think it is quite insightful.

120 votes earns $3.62 on Steemit now. Be lucky if I can even get $1 of that actually out.

So that should most likely be my last post ever on Steemit.

Exactly as I predicted, it played out. Irrevocably destroyed by the whale concept.
first things first i am not a fan of steemit and i just dont find it amusing either but explained to my wife about it as she is a blogger and i want to know,why is it you are not possible to get the money out and what is the minimum amount you can withdraw from it, is it a legit project.

People were getting paid quite well, at first. However, with the strong downward trend in the price at the markets for steem, the rewards are pretty insulting. Some people are getting almost 100 upvotes and not even earning a dollar. The curation rewards are even more paltry. For most people, it's not even worth the wear and tear on one's finger to click an upvote. Even the whales are scoring minimal curation rewards, these days. It was a good idea, but the initial distribution screwed this up big time, and I do not think it will ever be able to overcome this initial flaw.
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October 22, 2016, 02:43:56 AM
 #997

Has there been any recent public road map?  I can't imagine they would be sitting still on the programing?
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October 22, 2016, 02:54:40 AM
 #998

Has there been any recent public road map?  I can't imagine they would be sitting still on the programing?

They are actively programming. The last major hardfork adjusted the posting reward by giving out steem as well as Steem Dollars and steem power for author rewards. The intention was to attempt to get the steem dollar closer to the peg of 1 dollar. Right now on Polo, the steem dollar is going for almost 93 cents, so i guess that is an improvement. However, now that the author rewards include liquid steem, that is probably exacerbating it bearish trend toward worthlessness.
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October 22, 2016, 03:29:13 AM
 #999

People were getting paid quite well, at first. However, with the strong downward trend in the price at the markets for steem, the rewards are pretty insulting. Some people are getting almost 100 upvotes and not even earning a dollar. The curation rewards are even more paltry. For most people, it's not even worth the wear and tear on one's finger to click an upvote. Even the whales are scoring minimal curation rewards, these days. It was a good idea, but the initial distribution screwed this up big time, and I do not think it will every be able to overcome this initial flaw.

I agree with what you say, especially about the market decline killing the larger rewards, but there is a lot of confusion about number of upvotes. There are still posts with 100 or fewer real votes that get significant rewards ($100+)

There are an enormous number of bots with very low voting power. Some say that 50K or more of the registered accounts are just multiaccount farmers who harvested a lot of accounts with a good number of those finding their way to bot operators. (I don't know the actual number but I do know there are a lot,)

The system is designed to be sybil-resistant meaning getting ahold of 100 low-value accounts and upvoting a post should not really do much of anything. That's at least one part of the whole thing that actually works really well.

IMO the vote count should not be displayed at all, unless you decide to click through to vote details that show who actually voted and how much vote power each one has (the latter perhaps categorized into ranges). By displaying it, that creates a sort of vulnerability to sybil attacks where people are misled by a number that actually doesn't mean anything. Not my decision though, I can only make suggestions and in this case it has been ignored.
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October 22, 2016, 04:17:39 AM
 #1000

@smooth the flaw in the design is rewards via voting.

The only way to make such a social network correctly is to have an objective reward system.  Wink  Lips sealed
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