After SteemFest IV




I have been reading a lot about the future of Steem, Steemit and the Dapps and other things that are supposed to be coming. Some of them have been quite positive especially the SteemFest summaries which give a very rosy picture for the future. The only problem I find with is that the same thing has happened after every SteemFest and mostly nothing happens.

This time it appears that the amount of people who attended was much smaller than for the last three, logical the others were in Europe were first of all there is I think the highest concentration of active Steemers and since it was on the continent it was easier for Europeans who are normally more affluent to attend so the lower numbers is no surprise.

There are some things about the future of Steem-Steemit that I don't understand, for example SMT and communities, they look very similar to Steem engine to me, they willl basically do the same thing, I know you can put out a whole document with technical jargon about how each is diifferent but in the end they come very close to being the same thing so I don't think both can exist, we either have Steem-Engine or we have SMTs and Communities. Personally I would rather have Steem-Engine I already have a few tokens there.

Then surprisingly this week I have seen more than a few posts of people complaining about being downvoted for no apparent reason, surprising to me because these were actually some of the people who were most in favor of free downvotes, you are getting downvoted because someone thinks your posts aren't worth what they are getting. Must feel funny to be in the other guys shoe. Now personally I really think this downvoting is going too far, nobody can say something like an article or post is under or overvalued because what I like might not necessarily be to your liking. Yet if I upvote and you downvote actually you are going against free will, you should think of that, a Picasso is probably not worth hundreds of millions but if someone is willing to pay it it is worth it. So if someone gives a big vote that is that persons prerogative I don't see why someone should go against it.

And Like I said before what we are now seeing is some big guy gives a big downvote to someone who also has some big friends so what happens is that the guys big friends upvote him back up to get him to where he was, all we had there was double voting the same guy and losing half of those votes because they could have been given to someone else. Still it seems some big guys think downvoting is the solution.

But from the prices above you can see that the price is not going anywhere, for September and October power ups were higher than power downs this was viewed as a positive, but really if you bought at one dollar would you sell at $0.15? But now I look at Penguinpablo's reports and there are more power downs, only thing that makes me think is a group of people getting their Steem liquid and at the right time push a pump get as much as they can then comes the dump and Steem finally becomes a shit coin. Do I think too much? Probably, that is why I don't see so many positive things in the future.

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The reward pool is static. Meaning all of the rewards are handed out regardless of how many votes and downvotes there are. So, whale downvotes help the smaller posts earn more whether someone changes it or not.

We all have different standards and that is where consensus comes in.

I think how some are approaching it is bad judgement for sure, but it is their bad judgement to make.

Yes, communities and SMTs will be a lot like SE tokens and tribes, only included in blockchain consensus.

No amount of internal messing around with rewards is likely to change anything. Steem will struggle until the market picks back up or we do some marketing.


NO, there is an elementary mistake with everybody's reasoning, look you get 100.00 as rewards for an article, but this big guy goes and takes 50.00 with a downvote, the idea is that this goes back to the reward pool, but in reality most of the people who vote on Steemit use autovotes, that is a fact and can easily be seen just wait five minutes and a post goes from 0 to 10.00 in five seconds, these people if they do receive what was dwnvoted from you because downvotes return rewards, will not be voting again their auto upvotes have already been given, so if someone gives you a 50.00 to compensate for your loss due to the downvote that money is lost to other people who also deserve rewards because their articles are OK (Just OK because anyway most posts on Steemit are shit posts, yes that includes mine). So yes, downvotes cause reward loss, its not like they are just redistributed.


They are redistributed on an average basis. So, yeah the same set of facts, but the redistribution is delayed one day


But the rewards for the first day were lost, that is what you fail to notice, they might have been returned but were not used. You might think they are added to the next day's rewards but I have looked to see if this is so and have found no evidence to back it.