For one, the authors and users are the lifeblood of steemit,inc.
Especially now, with them generating close to $100k a month in revenue due to this user base.
When this EIP goes through, smaller author's are going to get roughly a 40% reduction in their earnings...
Most of which were already making pennies anyways.
You think that will keep them around?
Plus the bigger accounts that were counting on their upvotes as a guaranteed ROI are likely to see that go away due to the free downvotes.
That will likely cause them to sell and leave as there is now no reason for them to be parking so much cash in steem power.
So, we have the small users getting crushed and leaving, plus we have the larger accounts that were counting on their ROI leaving...
Do you think that will help the price of steem and steemit.com continue as a going concern?
I think this EIP is the beginning of the end of steemit and possibly steem.
The sell off in steem has only intensified ever since this has been announced and looking around I see many of the orca and smaller whale accounts powering down and leaving.
If we instead focused on doing things that made people happy and encouraged even more to come here, we could get steemit,inc to stop selling 200k a week on the open market because they would generate so much more from their advertising revenue.
Even that they would be cash flow positive and could then start putting some money into this place, instead of only pulling money out.
Then we can let smts and communities work on the proof of brain concept to reward content. Let steemit continue to be a base reward layer.
Doing what is being proposed is likely going to be the nail in the coffin in this place.
I do not support it.
