RE: Downvote Pool Deep Dive

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RE: Downvote Pool Deep Dive

baah in #steem • 6 years ago (edited)

They aren't hosting shit. They don't have to pitch this idea to anyone else but the stakeholders, much like the stakeholders that run any corporation are the only ones that make the decisions. They don't have to focus on speculation like increasing steem's valuation in dollars or all such nonsensical airhead ideas. The white paper talks about creating a better economy than Fiat and it's not about extracting rewards but powering up rewards, that's what gives the economy more value. What they have to focus on is to improve the system, which has proven itself through and through, it's not like an unwanted car at all. If you take all the blockchain projects in the world, all their traffic and users and combine them there would still not be Any comparison between them and steem.

6 years ago in #steem by baah

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alexs1320 6 years ago

Ok, fact check.

How many BTC wallets exist?

It that number comparable to Steem users?

Let's check trading volume,

Bitcoin is counted in tens of billions for BTC and the worst is Cardano, 60 M

And let's check Steem

Hm... Only millions. Not good

The white paper talks about creating a better economy than Fiat and it's not about extracting rewards but powering up rewards

Reference please and equation please?

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baah 6 years ago

What does # of wallets and trading volume have to do with how used it is and how many people use it? Nothing.

Yes the white paper doesn't explicitly stated that it's gonna be a fiat replacement but cryptocurrency is created purpose for fiat replacement and the problem that steem is solving is all predicated on what crypto is and isn't, and crypto is about removing the financial reins from the bankers and money manipulators and giving it to the trustless code.

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alexs1320 6 years ago (edited)

No. of wallets = correlated with the number of users = correlated with the noise those people create = correlated with the price

Why USD is stable and accepted as universal? Because 5.000.000.000 people know about it and use it.

Would you accept to make a business with Zimbabwe dollars instead?
Why, because nobody has any clue about that currency = it's not stable

problem that steem is solving is all predicated on what crypto is and isn't, and crypto is about removing the financial reins from the bankers

Wait... There is no problem. Banks are working fine. I get my salary on time, I can pay from/to the opposite side of the world, I can plan 30 years ahead. There is no fundamental problem, there are some aspects that could/should/will be improved.

The world is functioning without crypto, keep that in mind.

Can Ripple improve it a bit - yes.
Can we implement crypto in administration - yes
Gain more freedom in trading - yes

Should we replace FIAT with Crypto?
Unless we want a war that would last for 100 years across the globe - no

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baah 6 years ago (edited)

Not at all true. No. of wallets do no correlate to shit. I can open numerous wallets without any Bitcoins in them. Price is largely speculation at this point. Trading volume is meaningless, I literally had 51 bitcoin volume in a week from trading with a bot less than .2 of a bitcoin.

Why USD is stable and accepted everywhere? Because of countless invasions and wars, especially economic wars, because the bankers are rumored to offset inflation by hand, moving zeros around, because if they fail to keep the ruse going they know that it will be the last one they have, because literally their life, their children, everything they ammased depends on them not letting inflation run away, and because you cannot audit them.

Yes we should replace fiat with crypto, no it won't be a war, we should simply to be free from the power that damns entire nations for not joining the house of cards that IMF/World Bankruptcy is.

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