So my witness has been up for 5 days and has not had a single block. I’m not even in the stalled parking lot of the hopelessly queuing tail of the Top 200 supplicants.
See the madness of the Top 200 here:
https://bitcoiner.me/schedule/?c=show200
and note nothing moves near the bottom for hours (days?)
There appears to be untold thousands of witnesses, but I’m guessing most are not actually live because they gave up long ago.
The only reason I’m posting this is because some folk are posting how STEEM needs witnesses, apparently trying to lure people in to becoming one.
Being a Steem Witness costs real money, you shouldn't be tricked into wasting it.
Most Steem posters can’t afford to waste the $500-$1000 a year that it costs to host a witness so they should know the truth.
Make no mistake, STEEM doesn’t need you to be a witness and from a glance at the rules, doesn’t want you.
Why do I say that?
Because the top 20 get all the rewards. The top 20 get 93% of the pie, the remaining thousands 7% between them.
The vicious Pareto law is a kinder 80%/20% share and is the reason why the reviled 1% exist, so the STEEM Witness system is even more grasping and greedy. It would make a Russian Oligarch chuckle.
The Steem witness 93%/7% rule translates into, “don’t be a Witness we don’t want/need more than perhaps 50.”
That is the practical outcome of the rules.
Even if you want to sacrifice to the Steem community, the effort of being a Witness is waste, because the resources won’t be used. You might as well buy $500 of Steem and give it away to people. At least is will go to the community, not to a hosting company.
I’ll continue to keep you posted because I actually can pour money down the drain for the pure hell of it.
I’ll keep you posted because someone needs to report back the truth.
