RE: RE: What is the Fundamental Problem with STEEM?
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RE: What is the Fundamental Problem with STEEM?

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I think Steem under 500 Satoshis is unavoidable at this point. Whether that's 3c by the time it happens I don't know.

Bloggers need to understand that they'll be better off in a smaller ecosystem which contains only bloggers and people who want to read blogs. The key is not really new users in general, it's people who want to read things and upvote them for extrinsic reasons. (Because they liked it, or because they want to reward the author.) The more people Steem attracts because they want to get a return, the more it dilutes that population, and the less functional the blogging ecosystem becomes.

This is why I'm 100% against the EIP - it's all about trying to get more people to vote for return, and in the process making sure the organic users we already have (who don't have large stakes) get fewer rewards (and never get to have large stakes).

@tcpolymath: I think Steem | Ecency