Look out, Steemizen!

in altcoindoldrums •  9 months ago 

It looks like the bottom might be in.

At least until everybody, except the top 100 accounts, cashes out because of the new math.

#newsteem

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Regardless of the new math, large power ups are taking place.

https://steempeak.com/steemit/@penguinpablo/daily-steem-stats-report-friday-august-23-2019

Screenshot 29.png

If you look back over the past few days, you will see that sct.wallet has powered up even more than what is here.
For those that don't know, sct is part of the Korean steem community.

There are only 359m steem, 200m are powered up.

That distribution looks much better than a lot of coins.

We will see how will stinc responds to this new curve.
If it chases off the least popular 50 percent of users, I don't hold much hope for the price.

The question, in that case, will be to do the math to see how long the malignant sellers can keep suppressing the price.
It may take a while to get them all sold off.

I don't doubt that if we can hodl that long, once those folks are gone, we can go about doing what we should have been doing all along, rewarding 'good' content and authors.

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The masses that came have proven they will not invest and given the chance will sell as quick as they can. I think they feel they need to explore catering to a new crowd if they are to succeed in creating a demand to soak up the supply they want to sell. They being the large accounts. Common folks simply couldn't/wouldn't soak it up.

At this point, with the reward pool going 90% to the top 100 accounts, it doesn't make sense to buy sp, especially at less than 4 for a dollar.
The return doesn't warrant it.

I'm hoping that things turn around, but it is looking bleak.

"...rewarding 'good' content and authors."

Mad props for the single quotes around good. That's my kind of content.

Yep, 'good' is gonna vary a lot.

It is in the eye of the beholder,..

I must say it's in none of my eyes; neither the big main one hung above my fang stuffed maw nor any of the ten others perched atop my writhing eye-stalks.

I mostly use 'good' like I use 'self', 'benevolent state' or 'adventurers powerful enough to defeat me'.

saludos amigo

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The majority of the economic incentives won't be that hard to sidestep with the proper dapps in place.

The reward curve is easily defeated.
Curation is easily defeated.
The flag pool is self-defeating.

The only thing that can't be avoided really is the siphon that funds development. Arguably, it would be hard for this to yield negative results even if it was extremely corrupted, so no worries there either.

At the end of the day Steem will learn to incorporate the smartest economic plan or be abandoned for better politics on a side chain. Of course this will take years and years to come to fruition.

Yeah, our initial leadership stepped in it.
We had a chance, but they chose to enable abuse instead.

I'm hoping we can adjust enough that folks stick around.

I'm not hopeful that I, as a pure content provider, and not much of a social butterfly, will be able to justify my already vastly limited time here, come Monday....

Meh, we have to wait a week or two to really see what has changed.

Yea. I know what is going to change for me. Less reward, and less consequences for my serial downvoters.

Well, the flagging could improve things, there is no telling before the shift in behaviors to the new math.

The truly messed up thing will be when altseason comes and everyone says: 'see! EIP works!'
lol... no.

Lol, it has already started!
Steem is up .02usd.

As if it's not manipulated.

This time I'm locking in profits near the top.
I don't see steem to ever maintain more than a few dollars in price, absent some hodler investors.
The return is too low.

Who holds cash as a speculative vehicle?
That goes for all of them.