Topic: Steemit.com: Blogging is the new Mining - page 56. (Read 348665 times)

Most of your questions are answered here:

https://steemit.com/steem/@steemitblog/final-review-of-steem-economic-changes

To answer your question about the powering down process, it is incremental with 1/13 powered down per week. The remaining portion stays powered up and continues to earn vesting rewards (as well as retaining voting rights, bandwidth rights, etc.)

There is fixed no cap on the supply, though the rate of inflation will eventually reduce to 1%.

If you have other questions after reading the above, please let me know.

Hey,

I've been reading quite a bit about Steem and  its  platform steemit and have been considering to buy some Steem.
While I find the project particularly interesting and promising, I'm having a hard time understanding the underlying structure of the steem assets as well as to find up to date information about the coin.

Here are a few questions that I had trouble answering after reading the github readme, parts of the whitepaper, the official website and steemit articles. I apologize if there is another source that I am not aware of where I could have found my response and look forward to hear from anyone here to help me out.

What is the current rate of inflation for Steem ? I read it is 100% but I also read that it was recently reduced, where can I find release notes that can point me in the right direction ?

What is the time required to power down SP ? On the official website it says that it will take 104 weeks of weekly installments but again on the forum I can find that it was reduced to 13, with again no source that I could rely on to confirm that info.

Is there a total number of Steem or will there be always new Steems coming due to the vesting process ?

If I own some Steem and I don't power it up, am I just losing money due to the inflation ? However if I power it up and eventually decide to sell, do I have to wait  13 (or 104) weeks to be able to sell ? But then during those 13 or 104 weeks, I will also suffer from the inflation rate ( except if I market sell my steem as soon as I receive the weekly installment, which is not necessarily the goal ).

From my understanding both ways are a lose lose situation, so I assume that my understanding is incorrect as this is a widely popular project. Again, I'm looking forward to anyone with a better understanding of Steem to help clear up those interrogations.

Thanks !

You can run the node software yourself and participate directly at the blockchain level. That's a decentralized p2p network. This is not what most would consider user friendly (cli tools, etc.).^*

You you access the blockchain via a web site, that's centralized (there is a web server, owned by somebody).

Various sites including steemit.com, busy.org, chainbb.com all run web sites which allow you to interact with the Steem blockchain. But when you do that you are accessing it via a necessarily centralized service and you are at the whim of the owner of that service to define how, when, etc. you can access the site. Each has its own rules.

^*The software that powers the steemit.com web site is also open source and you can download it and run it on your own computer. This would be reasonably user-friendly in terms of use but still requires some technical skills to set up.

Interesting, see I knew you had answers that I would never have even thought of.

So if Steemit.com is centralized, what are all these posts screaming "Uncensored Decentralized" blogging platform if it is actually completely centralized and owned by who? @ned?

What about busy.org?  I haven't really checked out that site, but is it essentially another centralized platform to gain access to the Steem block-chain?
Which if that answer is yes, i'd have to ask: Is there a way to access the Steem block-chain manually?
(Decentralized Steem Block-chain App... I already see an ICO for it)

Movies, pictures, etc. none of that stuff goes on the blockchain. It is all hosted on some server and only the links go on the blockchain. If the content is too hot to handle, the server hosting it can block it or remove it.

As someone else pointed out the issue of storing controversial data on a blockchain exists for all blockchains. In fact some dirty stuff was stored on the Bitcoin blockchain years ago. If this bothers you, you better stop using all blockchains now.

Further steemit.com is a centralized web site owned by Steemit Inc that facilitates access to the blockchain, it is not the blockchain itself. Steemit can block anything they want from being accessed via their steemit.com web site (and has instructions on there for making DMCA notices, etc.) though it would still be accessible other ways.

Users upload pictures to amazon servers kept by Steemit Inc., which I guess could block copyrighted and illegal content (e.g. steemit is centralized). However, you are right that Steem blockchain is immutable, nothing can be deleted unless there's a hard fork for that. Besides steemit.com there are other apps and sites which use Steem blockchain, like busy.org.

All those are valid concerns, but it's valid for most of other blockchains as well. What if someone will publish some illegal content via an Ethereum contract?

For Steemit Blogging

Does it has any rules like what types of content can be posted but what not?

Thanks

Smooth, where are you at... this guy needs some expert information.
I myself am curious too...

Hello guys, I'm pretty new to Steem.
I read a lot about Steemit, and I have a few questions on Steem blockchain.
Please correct me if I'm wrong.
So Steem is a POS coin that powered by witnesses (is that just another name for nodes?). They are verifying transactions (like on the BTC blockchain) but they also have to store all the content (accounts and posts) right? Do they need to operate hard drives like with Siacoin?
Also is all the content on Steemit stored on the Steem blockchain ? accounts, posts, comments, votes, muted accounts (I saw that you can't see on Steemit.com which users muted you but you can still see it by yourself on the blockchain right?), website url... And is it possible to delete that content or once something has been posted, i'll stay on the blockchain forever ? I mean, it can cause several problems, serious problems. What happens if someone publishes illegal content? It can be copyrighted content, like movies or music, or even worse : pedo, terrorist propaganda (lel).... I know that only text can be uploaded on Steem, pictures and videos have to be uploaded on third-party websites. But still, it's forbidden to distribute access to illegal content even if photos and videos are not uploaded on the site in question. And a .com public domain such as steemit.com can be easily seized.

Thank you in advance for enlightening me (btw maybe everything I said is retarded and I didn't understand anything at all but I had to ask you about that, it sounds very important to me lmao)

edit : Finally, I read that you can upload pictures directly on Steemit

I was really interested in blogging steemit , but my shortcomings it is difficult to determine the title topic that got upvote high , any tips & tricks for me guys , 

I was looking at blocktrades tonight and notice that they don't let users use their back button on the homepage... 

https://steemit.com/steemit/@bayareacoins/if-blocktrades-us-is-sooo-fucking-cool-why-won-t-they-let-me-use-the-back-button-on-their-webpage-is-this-just-me-or-a-normal

Kinda gay.

Yeah that noganoo was some crap. Dan upvoting his post was ridiculous to say the least.
1200+ accounts is pretty ridiculous too.
And everyone leaching off the whales...

Yeah, steemit has its drawbacks.
But It's still one of the best places to go to be involved in cryptocurrencies
And there is always another fork around the corner to change up the game

https://steemit.com/@cryptographic

Little bit less than smooth. 

But my last post will give you some insight into my thinking, what I'm doing, and what my plans are.

This thread here on BCT goes into a little more detail about the specifics of my "investment" strategy: https://bitcointalksearch.org/topic/turn-10000-into-1-million-1936239

In short, while constructive criticism is still a must as we obviously need to be able to identify shortcomings, I think at the end of the day it's all about moving forward in the positive with each of our grains of salt. 

We've got lots of work to do in the crypto sphere before it's ready to go prime time.

True, but this highlights just how incredibly risky, dangerous, if not downright reckless the ICO game is.  A conventional tech startup looking for a measly $200k of seed funding gets carefully scrutinized during the vetting process, including an assessment of the maturity of the people in positions of influence.  Launching such ventures is extremely demanding and difficult, requiring an extraordinary amount of discipline, composure, and dedication from everyone involved.  Yes, even the programmers.  Experience has shown over and over that the "brilliant idea" always takes a back seat to execution.  Even when you think you've got it all lined up, the failure rate is staggering. 

And all this vetting gets bypassed by an ICO.

What you write is mostly correct except that you can't really 'jump on' for curation rewards. Those rewards go to the first to vote for the past, late arrivals get little or nothing.

I agree Dan's antics are highly unprofessional and destructive (and to some extent Ned too, who seems to have jumped into this whale pissing contest somehow, though I don't know all the details). I was not terribly disappointed to see him leave Steem, although I do have some respect for his technical abilities. Untrustworthy and socially-inept people can still be good programmers, it isn't even necessarily that uncommon a combination. Anyway, what would crypto be without drama?

Thanks kekek, that pretty much confirms what I suspected.  I am astonished that the lead developer at a $100M+ startup feels the need to engage in such antics.  This should probably alarm EOS investors, although I doubt the vast majority have any intention of holding long enough to see if anything useful gets produced.

So what's your account name HR?

I know smooth has over 1.5 million SP, but what about you

But the best part of Steemit is that you can leave that for what it is and then do the positive things you want instead! Just like life!

Cheers, and thanks for your research too! Always great to have a laugh. It sounds unbelievably infantile. But then so is our getting in a fuss over them. Like I said, to each his own.

And, remember, there's lots worse, lots worse, just around the corner. The world's actually a pretty ugly place in comparison.

https://steemit.com/fantastic/@noganoo/steemit-has-brought-me-out-of-poverty-and-given-me-a-bright-future-in-business-here-is-why-i-think-it-is-the-greatest-platform

I'd take a look at this posting. A guy running 1200+ accounts pisses off a bunch of people, @berniesanders comes and knocks his rep to 0 with a few of his accounts. Dan with 4 million SP comes and upvotes this guy simply because he has a grudge against @berniesanders.

@noganoo's rep shoots back up to 50 from 0 and his post has a valuation of $200 with many people simply jumping on for curation rewards. Other large users who spent their influence trying to flag noganoo's account get pissy and respond with posts such as: https://steemit.com/creepycatman/@berniesanders/dan-is-so-fucking-pathetic and break out their own alt accounts to flag the post eventually sending it back to 0.

I didn't notice any of this either.