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RE: The Ideological Problem Of Bitcoin
Could you please comment on the relative "toxicity" of Steemit, and how you see it in comparison or contrast to Bitcoin?
😄😇😄
Could you please comment on the relative "toxicity" of Steemit, and how you see it in comparison or contrast to Bitcoin?
😄😇😄
The "toxicity" of Steemit can manifest (and it manifested in the past) when the stake is used abusively. I'm sure you remember the flag wars. But now the voting power evened out and the effects of such a potential problem are smaller. DPoS tends to heal itself faster than PoW.
Thank you, Dragos. I appreciate the added insight. ;)
For someone such as myself who has been using the platform for less than a month, what are you referring to here with regards to "toxicity"?
A few months ago a few whales engaged in a so-called "flag war" in which they ended up flagging (most of the time abusively) other people caught in the middle. By "flag" I understand a downvote. If you downvote a post, and your voting power is bigger than the current reward of the post, it will be added back to the reward pool ("taken away" from the post). I used quotation marks because no reward is sure to be distributed until the moment of distribution, until then everybody can upvote & downvote as he / she sees fit. During that flag war many people saw their rewards vanishing, there was a lot of frustration.
Cool, thanks for the explanation.
Don't you feel there's a little bit of a problem with people not wanting to upvote comments and posts out of some kind of selfishness or fear of 'using up' their voting power too much? I still have to wrap my head around it all, but I thought there'd be in general just a lot more voting happening in comments sections. People are thus hesitant to upvote comments and overall discussions suffer as a result. On Reddit for example there's no cost to simply upvote to say "this is a good comment", but here people don't seem to want to do so - I'm not entirely sure why.
Maybe people incorrectly think there's actually a direct cost to them whenever they upvote on Steemit - what do you think? Because, from what I understand, people should be upvoting whatever they think is worth getting more attention/getting their virtual thumbs up, but people don't because there is a strange sense of scarcity attached to something as simple as an upvote.
See, there's two elements to the upvote: the number of votes, and the earnings of votes, and we're getting a little hung up on the latter for some reason.
I think this will even out in the end. It's a process.
Hope so. I'm really impressed by Steemit for the most part, and hope to be in it for the long haul. Keep up the good work, sir.