You are viewing a single comment's thread from:
RE: Why I Am Opting Out of STEEM Guild Votes (No Drama)
The problem is ages old. Anything concerning power or money which is not totally transparent and subject to checks and balances WILL become corrupt over time.
At present I suspect we need these guilds to grow. If they are not regulated in the future they may be the downfall of Steemit.
I'm seeing more cronyism and more bullying every day.
Never forget that in the name of peace and equality the soviet politburo travelled around in sumptuous luxury after presiding over a slaughter or 30 million.
Power corrupts
Why do we need guilds to grow when the active user base really isn't growing? I would argue that we need less guild manipulation of rewards allocation. I don't see how they can justify 200+ votes every day when there are only 600-800 total posts.
And why would we need regulation of guilds? Why not just stop creating these guilds? They wouldn't be an issue if whale accounts were not behind them. That's the main problem. The guilds are being created in order to use whale power to subjectively distribute rewards "more evenly." This distorts the actual market for content. Adding another layer of "regulation" to a very tiny and distorted market doesn't make much sense.
I understand your argument, but I think the simplest resolution is for the whales to stop delegating their stake in this manner and to stop approving of it to be used for the Guild's self-voting of their own posts. The whales in question here have the ultimate power of decision-making.
Well we either go full free market or work on the guild system to make it more efficient. The problem is that there are people who will constantly plot to vote share which gives an unfair advantage.
Whales want the curation income but don't want to read hundreds of articles each day. Perhaps if a non voting income were offered in place of proxy curation the whales could be persuaded not to guild vote and the system would begin to even out.
I'm pretty sure STEEM Guild will not be slaughtering 30 million people anytime soon. If it does, then STEEM has become so powerful that I'm drinking a mai tai in Hawaii with my money.
But you take the point? Take an idealistic person and give them unrestrained power. What happens?
I get what you mean, I was trying to lighten the mood. But I don't think the issue at hand is quite that drastic.
Neither do I. Just demonstrating an oft forgotten principle.