Steemit - Self Voting-HF20

Hey you, welcome back to the channel. And guys, today we want to talk about a little controversial subject on Steemit. That's self-voting, you know, the upcoming hard fork 20 possibly, and just some of my thoughts on it and some solutions to some of the issues that's been raised on Steemit. So let's talk about the infamous self-voting on Steemit. You know, what I think about it and what, you know, is it a good thing? You know, is it something that's good? For Steemit or helpful overall. And, you know, a lot of people have issues with self-voting, but I think I'm gonna take the side where I, I don't think self-voting in itself is particularly a problem. I can see many benefits to self-voting, like I can see people coming in investing X amount of dollars in Steam Power, and then they're able to self-vote, and they're able to get the perk of, you know, collecting the Steam Dollars on their own votes. Doesn't sound like the most noble thing, but, uh, you know, let's, let's look at it from some different perspectives. Uh, uh, you know, I would look at self-voting as just another incentive to invest in Steam Power, you know. And, uh, Steam Power is very important to this network. Um, it's, you know, allowing the site to, uh, basically have the funds to distribute some monies, you know, across the network. So you're gonna have to need— you're gonna need money coming in to be able to do that. The money has to come from somewhere. You know, I would like to see Steemit have some type of marketplace or some type of monetized feature like advertising where you can pay for it in bitcoins and different things like that, and then it being, you know, your ads being shown across the Steamit network, but perhaps because it's in beta, it's still growing, maybe that may be some type of future endeavor. And in the interim, there's a need to produce funds to have this model running. So let's not knock self-voting yet. Let's just try to understand the complete picture of, uh, how Steamit is funding the operation, you know, where the money's coming from. How it's even possible for some people to come in here and get a few bucks or a lot of bucks and go home. And the incentive to be able to, you know, come in, invest a certain amount of money and sell fold and basically get a daily income from it is very appealing and it's great incentive. For investors in Steemit, you know, under the model how it exists today. So I don't want to knock that. I don't want to knock self-voting because I understand how investing works and why people invest for the most part. And, uh, and I can talk all day about, uh, labor and output and, and, and where money comes from and how it's generated and what money means to you and But I'm gonna just give a short, simplified way to look at these issues and a solution as well, a very simplified solution. So in the comment section, guys that watch this video on Steemit and on YouTube, please feel free to comment. We can have a longer conversation about it, more intricate, but you know, to keep this video from running to 30 minutes to an hour, uh, I'm just gonna speak about some quick solutions to that and what can be done so that everybody wins. Because I think it's a way everybody can win in this, and, uh, I think Steemit is a great platform to build upon how everybody can win. So let's first just give some simple quick solutions. Uh, first off, for people who want to self-vote, I would advise this for the— or I will propose this, and that is for every, every time you cast a vote in your favor or you self-vote, it should be an equal portion to voting for someone else, right? So in a sense have it set up like you earn a self-vote every time you vote for someone else. But in addition to that, I would propose that whomever you vote for, it's not the same person within the same week or the same month. So I'm gonna, I'm gonna go over some reasons why this is important to the entire health of the entire network and how everybody can win by doing it this way. So the first part of voting in equal portions or earning yourself votes by voting for other people, what that does is that's gonna allow for a healthy economy, money to be distributed across the network without people, uh, investors and steam power, big investors, dolphins, whales losing the incentive to want to buy Steam and hold their money locked up for such a long period of time, you know. So a lot of people say, well, we feel they're already over-incentivized and they're already, you know, you know, making good money how the network's set up. But, you know, at the end of the day, people are still taking risks and something they don't know that will be completely successful like they want. Money's locked up for a pretty long duration, so you have to kind of balance that out with incentives. Uh, you know, it's like investing in anything. You're not going to invest in something, uh, you know, that you don't feel you're going to be reciprocated back your investment, you know, you know, to a degree that you feel is a worthwhile endeavor. But to that, I also want to say this: Steemit may be a lot of things to many people. Now, I'm on the side of where I would like to see Steemit revolutionize to be the model for social media. And in that vision, Steemit is bigger than just another cryptocurrency where you can make some decent money or some good money. Because if you're just in this for that, if you just want to have a situation where you can make good money every day, cash out, and various things like that, well, we already have cryptocurrencies and opportunities like that, have had that for several, several years now. You You know, with Bitcoins and many of the other coins available doing the same thing where a large pool of people buy in, big people at the top, they sell off, make more money. Now that's great, you make money, that's wonderful, but that's not revolution. And so we have to distinguish between revolution and I just want to I want to have good earner potential, I want to make good investment decisions, and like I said, there's many ways to make a lot of money if that's your only endeavor with the network. But if you really wanted to revolutionize the internet, if you have an ambitious vision of Steemit like some people do, like they had with Bitcoin, you know, the anarchist, so to speak. If you're, if you're in that mindset for Steemit and you're a dolphin or you're a whale, then I would say this is definitely something you would want to be on board with. And that is you would want to be making sure that the funds are distributed healthy across the network. By voting for not the same people or creating a conclave of a voting system, but being able to spread across the network. And some people would say, well, if you're just doing that and you're voting for this person or that person, uh, then the quality of the content's gonna go down. And, uh, I keep voting for this same person, um, every day because they put out great quality content, which very well could be true and is true in many cases. You know, as I look at people who appear in the trending and hot section every day, sometimes they post same, same person 3, 4, 5 times in a day. One thing is constant with them, and that's they're putting out good quality content. But to that, I want to say this: that as I've looked around the Steemit network, there's a lot of good quality content as well that's not getting noticed. And that's why, you know, I would like to propose not being able to vote for the same people in the same week or the same month, you know, you know, multiple times, because I don't feel necessarily that Steemit suffers from lack of good content. You know, in fact, if you really looked around and you took the time, you would probably find that there are a lot of good posts that aren't getting upvoted like they should, simply because people aren't aware of them. Another thing you have to keep in mind is that blogging and vlogging and things like that, this has been— people have perfected that. over the course of the internet. So you got a lot of people who are good at blogging and vlogging. So I don't— so basically what I'm saying is I don't think there is a lack of good content. You know, I don't think that's what the problem is. I think that if not careful, one can get caught in what I deem called conclave voting, and you just kinda get stuck in a habit. I'm not saying it's done on purpose, it could be done at the subconscious level where, oh, I just see this familiar person, I know they're putting out a good post, so I'm just going to vote for them. And if they're putting out 4 or 5 posts a day, I'm going to vote for them on each time. But that's not going to create a healthy economy overall. And that's why, in a very simple way, I would propose limiting the amount of votes on the same person, but also only being allowed to upvote in proportion to the votes you cast, right? And guys, I'm gonna kind of leave it at that, you know, because some of the statements I've heard over this subject has been, you know, basically that if when hard fork 20 comes around, if it means the end of self-voting, A lot of people want to power down, they want to pull their money out. Kind of reminds me of what happens when taxes are raised on the wealthy and they want to pull their money out of the US economy. And like I said, I can go on and on about, you know, things like that in economics and what creates a healthy economy and the difference between a healthy economy and a dual economy. But I'm going to leave a lot of that for the comment section. Only thing I want to do in this video was provide a very easy solution to help Steemit's economy go forward, which I think could be done quite easily. I think everybody can win, everybody could come out of this very satisfied, and we can come out with a healthy economy and more money in Steemit, and Steemit maybe even doubling or quadrupling its growth rate. But anyway, guys, we're gonna save the rest of that for the comment section. Don't forget to follow me, guys. If you're watching this on YouTube, don't forget to like and subscribe. And until next time, guys, take care.