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RE: Do You Want A Witness You Believe In?

in #busy6 years ago (edited)

I will defer to you since this is my first big update, so thank you for the explanation.

As for your question, its Steemit Inc that has put in place a program that will enable those RCs to be leased. If the whales hold those RCs, then they can control the usage of the system since you need RCs to be able to do anything. While in the short run they realized their goof in making them too restrictive, there is certainly a large amount of longer term Steemians that are looking at those RCs as another income source. I have seen the messages and the glee that RCs are here and can be monetized.

So while I don't care if they make money or not (whales/steemit inc/witnesses)... what I do care about is they have now put in place the same top-down system that has been shown to strangle the smaller guy (the SP model that creates a monopoly at the top). And guess who controls the witnesses that make the decisions? (hint: its not the everyday user with less than 1000SP)

I've seen the arguments that this is how we will enable the big companies to finally come in and buy lots of steem to operate on our wonderful speedly platform. I've seen those comments now for many months and know that is the objective. Heck, even many have frankly said that Steemit is a "test or proof of concept" that was never meant to be anything more than a lab to showcase what can be done with Steem. I get the plan, make everyone who hold Steem rich.

And of course I don't mind that. I'm just suspicious that they've now introduced a mechanism whereby the whales/witnesses can now decide to extort an restrictive price for their "mana". This fork has happened and I realize its not going back. But you can say you heard it here first (if that system is abused). I hope I'm wrong, but I've seen too much power concentrated in the hands of a few. Let's hope Steemit has a plan B if it gets to the point where common and decent people have to start choosing whether to comment or not because they don't want to rent out RCs to do so. If that happens, this place will truly be a niche community for sure.

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I had no idea RCs could be monetised. I thought it was we all had them and they replenished on their own. You're saying that RCs can be given and taken away by the big guys?

Aspects do sound more devious than "advertised". I guess only time will tell. I hope there won't be abuse on the site.

Yes they can adjust the amount of RCs we get... That's why they had to scramble to release 10x more because they miscalculated in the beginning... They definitely have plans to monetize the RCs, and as long as they let the users of the platform comment, vote, and do simple things like that, then I don't see a big issue. My only worry is them stepping over the line, like some people justified in those few days (the arguments were, this place isn't free and everyone should pay their fair share... stuff like that).

And yes I agree that time will tell and I hope as well that they are aware of this issue and don't let it ever get to that point again!

Thanks again for the comments @binkyprod, and have a wonderful day!

Oh wow! That makes a big difference knowing that.

This place IS supposed to be free, and what we PAY for our fair share is we contribute content, time, and we allow the platform to thrive by our continued involvement in it. We contribute every time we interact, because without us, the platform would be dead.

Thanks for the insightful information :)

I agree.... Without us, the platform would simple be a niche tech chat hangout. And btw, maybe they do everything right going forward, I'm hopeful and still here ;)

Here's to hoping. There's a lot of good they can still do.