I was curious and tried to sign in (no facebook, nor reddit) and registred my email... however it makes almost 1 week and have still not receive anything back... What should I do to get an account?
Furthermore having to compile the miner... what is this?
very strange.
Topic: Steem pyramid scheme revealed - page 61. (Read 107064 times)
Let's see if any whales will upvote the objective truth or not:
This is a misleading interpretation of the data, because you are not accounting for the abandonment (attrition) rate of new signups.
The data clearly shows that users active in the most recent 7 days are overall 15024 ÷ 43766 = 34% thus ~66% rate of attrition. I computed the attrition rate another way to be roughly 78% (which has now increased to (15,024 - 9479) ÷ (43,766 - 9479) = 84%!) before the recent surge of signups partially due to renewed+amplified coinmarketcap.com banner ad. Meaning that when the signup rate is significantly higher than the historic rate and the historic number of user accounts is small, then mathematically the attrition rate (in the first way I calculated it above, but not in the second way) will appear to be less than it actually is until that higher rate of signups is aged about 30 days.
I expected that my second method of computing the attrition rate would increase (as it did from 78% to 84%), because the attrition rate requires at least 30 days of history to compute accurately and the signup rate had surged in July. I expect the attrition rate to be about 87 - 94%, because this is the percentage of users who have balances less than $70. As you can see this correlates well with the attrition rate, because the entire motivation for joining Steem is to earn a lot of money. There are not other compelling reasons to be on the site. The white paper admits that quadratic vote power weighting algorithm is designed to fool users into overestimating their earning potential, so it is quite a “no brainer” to expect that most will become disappointed and quit (barring other compelling reasons for them to stay, which there are currently none other than some idealistic desire for blockchain and crypto-currency technology to gain a foothold with the masses).
This perspective is further supported by noticing from the data that the rate of attrition increases the lower the balance.
The attrition rate will approach 98% if the price declines by 90% (because that is the percentage of accounts which will have balances less than $70), which is what I expect for the coming implosion of Steem as the reality of the situation comes to roost and users power down in rush to the exits (most are powering up now because they don't realize the true situation).
Note I have confirmed some examples here and here of who and why users are abandoning Steem.
Quote from: xtester
The first one is the growth rate. Presently, Steemit has ~43,331 registered accounts and has grown with ~10000 new accounts during the last week(an impressive ~31,25 %)
This is a misleading interpretation of the data, because you are not accounting for the abandonment (attrition) rate of new signups.
The data clearly shows that users active in the most recent 7 days are overall 15024 ÷ 43766 = 34% thus ~66% rate of attrition. I computed the attrition rate another way to be roughly 78% (which has now increased to (15,024 - 9479) ÷ (43,766 - 9479) = 84%!) before the recent surge of signups partially due to renewed+amplified coinmarketcap.com banner ad. Meaning that when the signup rate is significantly higher than the historic rate and the historic number of user accounts is small, then mathematically the attrition rate (in the first way I calculated it above, but not in the second way) will appear to be less than it actually is until that higher rate of signups is aged about 30 days.
I expected that my second method of computing the attrition rate would increase (as it did from 78% to 84%), because the attrition rate requires at least 30 days of history to compute accurately and the signup rate had surged in July. I expect the attrition rate to be about 87 - 94%, because this is the percentage of users who have balances less than $70. As you can see this correlates well with the attrition rate, because the entire motivation for joining Steem is to earn a lot of money. There are not other compelling reasons to be on the site. The white paper admits that quadratic vote power weighting algorithm is designed to fool users into overestimating their earning potential, so it is quite a “no brainer” to expect that most will become disappointed and quit (barring other compelling reasons for them to stay, which there are currently none other than some idealistic desire for blockchain and crypto-currency technology to gain a foothold with the masses).
This perspective is further supported by noticing from the data that the rate of attrition increases the lower the balance.
The attrition rate will approach 98% if the price declines by 90% (because that is the percentage of accounts which will have balances less than $70), which is what I expect for the coming implosion of Steem as the reality of the situation comes to roost and users power down in rush to the exits (most are powering up now because they don't realize the true situation).
Note I have confirmed some examples here and here of who and why users are abandoning Steem.
Can somebody tell me if you make $5,000 on Steemit when can you actually cash that out?
People always mumble when I ask them that...
People always mumble when I ask them that...
75% of the post value goes to the author. 25% goes to the voters.
Of the portion going to the author, half is in Steem Dollars and can be immediately cashed out. Half is in Steem Power which takes two years to cash out (but many users are not even trying to cash them out at this point).
So for a $5000 post, about $3750 would go to the author and of that $1875 could be immediately cashed out. Currently Steem Dollars are trading below par which reduces the value somewhat more, but still probably something like $1500 or more could be in your pocket as fast as it takes to trade the crypto and cash out the Bitcoin.
I hope that didn't constitute mumbling.
Can somebody tell me if you make $5,000 on Steemit when can you actually cash that out?
People always mumble when I ask them that...
People always mumble when I ask them that...
LOL, OK, this Steemit thing is now a complete joke to me. I had a post with politics tag that was at $0.04 with 12 upvotes or so. There were no downvotes and no "down flags" on the post
In its infinite wisdom steemit decided to remove the display of downvotes/flags from the web site. You can still see them on steamed.com. If I have time I'm planning to fork the UI and remove that misfeature and a few others, although I don't plan to run a public web site so it won't help anyone else unless someone runs it publicly (it'll be on my github).
There is no central moderation as far as I know, just some dude down voted it probably because he disagreed with your politics.
I am thinking that Steem/Steemit made a mistake to do their client-server data transfer via WebSockets instead of REST.
Did you read my last post a few lines up? Who gives a shit about that when it's a centrally moderated website that just randomly deletes posts at will. There is no point at all of having a blockchain associated with this. A blockchain is for distributed consensus, not one guy pulling all the strings.
Steemit.com can do that, but other UIs can get the data from the blockchain and display it.
Yes, I'm aware of that, but the fact that Steemit is run by Dan and he's already using such Orwellian censorship on completely valid topics means this thing is doomed.
I am thinking that Steem/Steemit made a mistake to do their client-server data transfer via WebSockets instead of REST.
Did you read my last post a few lines up? Who gives a shit about that when it's a centrally moderated website that just randomly deletes posts at will. There is no point at all of having a blockchain associated with this. A blockchain is for distributed consensus, not one guy pulling all the strings.
Steemit.com can do that, but other UIs can get the data from the blockchain and display it.
I suppose if the 19 witness colluded it is plausible data could be deleted from the blockchain, but other nodes that had seen that data might detect it. If anything shady happened to your blog post, it might have been the way Steemit.com is ranking the blogs (I no longer see a direct correlation to reward in any of the ranking choices at Steemit). More likely they are experimenting with randomizing or heuristics and your post might have been an unintentional collateral damage.
I am thinking that Steem/Steemit made a mistake to do their client-server data transfer via WebSockets instead of REST.
Did you read my last post a few lines up? Who gives a shit about that when it's a centrally moderated website that just randomly deletes posts at will. There is no point at all of having a blockchain associated with this. A blockchain is for distributed consensus, not one guy pulling all the strings.
I am thinking that Steem/Steemit made a mistake to do their client-server data transfer via WebSockets instead of REST.
They appear to have designed for a real-time update scenario, but this will come at the cost scalability (because WebSockets can't be cached upstream), and afaics the real-time updates are entirely unnecessary for the feature set of this type of site. This isn't chat and blog commenting shouldn't be used a real-time interactive chat.
I don't think Steem could scale technically to a million users as it currently is designed. Certainly not 100 million users.
That doesn't mean they couldn't do some redesign along the way, but the existing paradigm is gaining inertia that will be difficult to turn quickly, e.g. the new Steemit mobile app. And the design choice they made is baked into many design decisions, such as that comments and blog posts are editable many hours after posting.
They appear to have designed for a real-time update scenario, but this will come at the cost scalability (because WebSockets can't be cached upstream), and afaics the real-time updates are entirely unnecessary for the feature set of this type of site. This isn't chat and blog commenting shouldn't be used a real-time interactive chat.
I don't think Steem could scale technically to a million users as it currently is designed. Certainly not 100 million users.
That doesn't mean they couldn't do some redesign along the way, but the existing paradigm is gaining inertia that will be difficult to turn quickly, e.g. the new Steemit mobile app. And the design choice they made is baked into many design decisions, such as that comments and blog posts are editable many hours after posting.
The vesting fund is currently 96.7% of the total supply, well over the 90% that would make the SP debasement rate zero.
So assuming 100% yearly dilution of the money supply, the debasement of SP holders is less than 5% yearly (0.967 - (1.867 ÷ 2)) ÷ 0.976 + factor for SP created and powered up.
At the current 300% rate (dropping fast every month), debasement of SP holders will end up perhaps ~10% for the year. Still not very much, and much less than the price volatility.
Also note that the 100% per year inflation is only reached at some point in the future. As with all coins with a relatively flat distribution schedule (fixed amount distributed per block), the inflation rate is reduced over time as the total supply increases. For now it is well over 100%, meaning the SP debasement is also higher. I read 300% recently but I don't know if that is correct.
You may have read that 300+% on my blog post (which had incorrect mathematical assumption of 90% compounding unless that is most of the STEEM was not powered up, which isn't the case). Indeed I was writing about the eventual scenario, and yes debasement is higher than 100% for several more months.
LOL, OK, this Steemit thing is now a complete joke to me. I had a post with politics tag that was at $0.04 with 12 upvotes or so. There were no downvotes and no "down flags" on the post, then all of a sudden a mysterious force comes out of nowhere and censors the post to make it invisible to everyone. You can tell because it displayed a picture next to it and now the picture is gone and the $0.04 cent reward is also gone. It does not even list anyone having downvoted or flagged it.
You can no longer find the post under any of the tags it was posted under. It's just gone and censored without using the direct link! What is the purpose of using this site over something like Reddit if it's centrally moderated exactly the same way if not worse? It's not even a spam post. It's a 100% completely legit politics post.
https://steemit.com/politics/@r0achtheunsavory/zero-sum-game-sjws-will-all-die-because-the-function-of-natural-selection-is-to-cull-the-weak-and-stupid
You can no longer find the post under any of the tags it was posted under. It's just gone and censored without using the direct link! What is the purpose of using this site over something like Reddit if it's centrally moderated exactly the same way if not worse? It's not even a spam post. It's a 100% completely legit politics post.
https://steemit.com/politics/@r0achtheunsavory/zero-sum-game-sjws-will-all-die-because-the-function-of-natural-selection-is-to-cull-the-weak-and-stupid
I first thought the Nash equilibrium of this system is for all whales to either not vote at all (prevent dilution), or only vote for themselves or their Sybil accounts.
My understanding is the same amount of debasement occurs even if only 1 minnow votes. Whales not voting does not diminish the debasement.
But please note, that SP holders are not likely being debased (or not by much).The debasement is on the STEEM holders (probably the STEEM on the exchanges).
SP holders are being debased. The vesting fund is currently 96.7% of the total supply, well over the 90% that would make the SP debasement rate zero. Also note that the 100% per year inflation is only reached at some point in the future. As with all coins with a relatively flat distribution schedule (fixed amount distributed per block), the inflation rate is reduced over time as the total supply increases. For now it is well over 100%, meaning the SP debasement is also higher. I read 300% recently but I don't know if that is correct.
I first thought the Nash equilibrium of this system is for all whales to either not vote at all (prevent dilution), or only vote for themselves or their Sybil accounts. Then I noticed while not having a ton of SP myself, some of my votes would make posts go up like $50 instead of a few cents. It seems like there is *some* built-in vote weighting to prevent that, where it kind of encourages them to vote for posts that they think will enhance the content value of the site to raise their SP higher. Although I still seem to think the best option of the largest whales might be to not vote at all unless the president of China or Obama himself signs on the site.
iamnotback was correct about not voting not reducing dilution. The reward fund grows whether you vote or not and it will all be paid out one way or another.
The system is designed to ensure that voting for all your own posts is not generally a good strategy (unless you are a popular author and also draw votes from others). Waiting for the most mega of mega posts doesn't work either because voting power expires if unused in 5 days. Use it lose it.
https://steemit.com/bitcoin/@generalizethis/steemit-forums-the-value-of-content-pools*had to come back to it.
I first thought the Nash equilibrium of this system is for all whales to either not vote at all (prevent dilution), or only vote for themselves or their Sybil accounts.
My understanding is the same amount of debasement occurs even if only 1 minnow votes. Whales not voting does not diminish the debasement.
But please note, that SP holders are not likely being debased (or not by much).The debasement is on the STEEM holders (probably the STEEM on the exchanges).
I've lost all interest to compose blog posts on Steemit, because I know that only if one of the 50 whales votes for my blog post will it earn anything worth my time to compose content.
Not bad odds compared to the normal lottery.
And I don't expect any whales to vote for my posts given I have stated I am developing a competing product.
If forced to place a life or death binary option trade on whether Anonymintcoin is ever released, most people are probably going to choose no if you hold a gun to their head and threaten to kill them if they get it wrong, so I wouldn't worry about that part.
It is impossible to get around the 50 whales and the horrendously fucked distribution of the money supply.
I first thought the Nash equilibrium of this system is for all whales to either not vote at all (prevent dilution), or only vote for themselves or their Sybil accounts. Then I noticed while not having a ton of SP myself, some of my votes would make posts go up like $50 instead of a few cents. It seems like there is *some* built-in vote weighting to prevent that, where it kind of encourages them to vote for posts that they think will enhance the content value of the site to raise their SP higher. Although I still seem to think the best option of the largest whales might be to not vote at all unless the president of China or Obama himself signs on the site.
Where are the devs telling us what to do?
The only directions I received from the devs is to change my passwords so they are harder to brute force.
The only directions I received from the devs is to change my passwords so they are harder to brute force.
It's hard to say with the amount of sockpuppets they own.
I've lost all interest to compose blog posts on Steemit, because I know that only if one of the 50 whales votes for my blog post will it earn anything worth my time to compose content. And I don't expect any whales to vote for my posts given I have stated I am developing a competing product.
This indicates how closed the Steemit ecosystem is. It is impossible to get around the 50 whales and the horrendously fucked distribution of the money supply. Thanks to smooth for the charity. I needed a little boost of cash (about $4000 earned).
I am confident that professional bloggers don't want to be beholden to the preferences and whims 50 nerd whales and their derivative orca gfs and surrogates. We want to be able to speak directly to the masses and be rewarded for it. Don't tell me that each minnow is only worth $8. The economics of Steem's distribution are whacko.
Therefor I am cashing out and will not participate further in Steemit. I have no choice now but to try to compete with it, since there is no future for me on the Steemit platform.
This indicates how closed the Steemit ecosystem is. It is impossible to get around the 50 whales and the horrendously fucked distribution of the money supply. Thanks to smooth for the charity. I needed a little boost of cash (about $4000 earned).
I am confident that professional bloggers don't want to be beholden to the preferences and whims 50 nerd whales and their derivative orca gfs and surrogates. We want to be able to speak directly to the masses and be rewarded for it. Don't tell me that each minnow is only worth $8. The economics of Steem's distribution are whacko.
Therefor I am cashing out and will not participate further in Steemit. I have no choice now but to try to compete with it, since there is no future for me on the Steemit platform.
r0ach I must say that I found your comment there to be a curmudgeon and very closed-minded:
https://steemit.com/introduceyourself/@melek/punish-a-white-kid-first-the-rule-i-didn-t-follow#@anonymint/re-melek-re-r0achtheunsavory-re-melek-punish-a-white-kid-first-the-rule-i-didn-t-follow-20160731t123450322z
https://steemit.com/introduceyourself/@melek/punish-a-white-kid-first-the-rule-i-didn-t-follow#@anonymint/re-melek-re-r0achtheunsavory-re-melek-punish-a-white-kid-first-the-rule-i-didn-t-follow-20160731t123450322z
What about this one?
Zero Sum Game: SJWs will all die because the function of natural selection is to cull the weak and stupid
http://steemit.com/politics/@r0achtheunsavory/zero-sum-game-sjws-will-all-die-because-the-function-of-natural-selection-is-to-cull-the-weak-and-stupid
Special thanks to smooth, risto, fluffypony and Shelby. Thank you guys, didn't plan on joining the cc community, but people like yourself is why I stay (please don't take that as sentimental and sappy--IE awkward).
https://steemit.com/poetry/@generalizethis/meltdown-part-1
(Not sure if the last DNA-swirl section being off center was my subconscious forcing people to goto the recording to hear it read [they should] or just my computer's way of saying, "you know I can't let you do that")
https://steemit.com/poetry/@generalizethis/meltdown-part-1
(Not sure if the last DNA-swirl section being off center was my subconscious forcing people to goto the recording to hear it read [they should] or just my computer's way of saying, "you know I can't let you do that")
Hilarious and predictable - politically correct woman tries teaching in "the hood". Students assault her and destroy her car. She's told to discriminate against white people to make the students happy, then after she leaves the school in fear, says it was a great and wonderful experience!
https://steemit.com/introduceyourself/@melek/punish-a-white-kid-first-the-rule-i-didn-t-follow
https://steemit.com/introduceyourself/@melek/punish-a-white-kid-first-the-rule-i-didn-t-follow
r0ach I must say that I found your comment there to be a curmudgeon and very closed-minded:
https://steemit.com/introduceyourself/@melek/punish-a-white-kid-first-the-rule-i-didn-t-follow#@anonymint/re-melek-re-r0achtheunsavory-re-melek-punish-a-white-kid-first-the-rule-i-didn-t-follow-20160731t123450322z
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