I do not own this logo. This logo is owned by SE, Aggroed or whoever.
Im kidding ofc. The title was clickbait... well a part of it at least. lol
So ive been doing some digging. Talked to a few folks that fight abuse and unfortunately i stumbled upon something not so great.
I personally dont care much for Steem-engine and the Tribes created. This is just my opinion ofc and if you feel that Tribes offer some value, all the power to you.
I hold that they offer little to no value and that the only thing they do is exert downward pressure on the price. Not until a clear use case pops up for them and them actually create value for Steem i will hold that opinion.
The only Steem-engine token i think has value right now is DEC. Its easy to determine why i think that although (and thats an important word) a part of its use im extremely unhappy with.
There might be others but overall the LEO tokens, PAL, CCC that simply take a topic and mint tokens for it for simply adding a tag to the post i hold in the lowest of regard. The mining SE tokens that create inflation for holding it, same thing.
Some even point to Actifit tokens as something revolutionary but id say those tokens might be the most worthless of the lot.
You shaked your phone for a couple minutes and ill give you a token for it.
Might as well give me a worthless ribbon for participation.
And these are not tokens for excellence in achievement.
Steem is different. Your contribution is rewarded. Posts can have educational value, entertainment value, along with the basic "means of payment". Tokens that just get given out for task completion have as much value as a high five you give your pal for bringing the beers.
Or the tokens that reward you for just adding a tag to your Steem post. Its nice getting some more shittokens, but overall that doesnt really add any value.. Currently. Things change ofc.
But thats not what i wanted to talk about.
Some of you have been introduced to Whaleshares.
Some have even tried it out. Ive used Whaleshares for around 6 months. I liked the drive of the folks in charge, i liked their enthusiasm but at the end of the day their lack of vision, their incompetence and lack of self awareness made me move away.
They did pride themselves in one thing.
Fuzzy, a former whale, claimed that Whaleshares was the first to implement the equivalent of SMTs ,or what SE tokens are, in the form of "WHALETOKENS".
See, the way that whale tokens worked (Some did lock their markets) in the negative sense was pretty simple.
- You powerdown some WLS
- You trade the WLS on the Bitshares market for BTS
- You use the BTS to buy "Whaletokens"
- You send the Whaletoken to the Whale operating the bot
- He upvotes you for the larger amount of WLS then you spent on buying the whaletoken
This created a enormous downward pressure on WLS and in a year the price of WLS plummeted 99,7%. WLS right now is basically worthless. Its so worthless that even paying 5 steem a month for sharing automatically from Steem to Whaleshares the same post is a complete waste of time.
The same downward pressure exists for SE even though it is much smaller at this time since SE has low Volume. If the volume increases the SE created bots could potentially mimic the effect whaletokens had on WLS.
STEEM is sold on the market for tokens that in turn offer a low cost of promoting on STEEM front ends, ruining the proof of brain, creating dumb inflation and reducing the value of the trending spot just like Bots did.
For that reason SE bots are much worse for the STEEM ecosystem because they not only do the exact same thing as "oldsteem bots" but they also take steem out of the system to purchase tokens that offer nothing more then a return in STEEM that comes from the reward pool.
.... But with a twist.
Memos no longer show the bidbot use and its all not so open to see since SE is being used meaning that you have to dig deep to find what is actually a vote purchase. Things most people do not know how to do and will not find time to do.
That makes SE bots potentially very dangerous.
Aggroed has basically made true the claim Fyrst made some time ago.
If bots are banned from STEEM or somehow unwelcome, ill just sell my votes for Bitcoin.
SE is Fyrsts Bitcoin.
Im not saying thats all SE is, but it is indeed a part of what SE is.
Now i know that people love Aggroed and i dont blame them. The dude for all the credit he might have taken from others, obviously has had major positive effect on STEEM. More then me, you or most of us.... but one thing we should not allow and thats being inconsistent in our criticism and being hypocritical in our actions because of who we might think someone is.
On Steem, no one is above Steem and no one should be given a pass.
Just some info and ill see you around in the next "ball busting post." ;)