After over a week only 94 Steem Witnesses have received any reward.
4 days ago as logging in my post there were 90 recipients:
https://steemit.com/witness-category/@chillbill/steem-witness-hard-facts-no-room-in-the-inn
So as I guessed, the list of earning witnesses grows at a decelerating rate.
In 4 days only 4 new witnesses managed to enter the earnings table and they got only a pittance when they did.
The oligarchs are making a fortune as you can see, but then the returns collapse fast as you travel down the list and you are soon out of the aristocracy and into earning little or nothing.
Being a witness is being sold as a gesture of support for the system.
It is not.
The system sets how it wants support and you can see from the returns it doesn’t want more than a handful of people to act as nodes for its Blockchain by 'witnessing.'
The system is paying for 40 ‘witnesses’ at most with any sort of encouragement stopping at 60.
Witness servers cost a chunk of money, lets say $50 a month, so you will never get your money back if you start one up with more than 100 already going.
I'm not in the Top 200 list and I suspect there must be many witnesses below 200 , so starting a witness server is costly, pointless and by default the system doesn’t want you.
The idea is if you get vote support for your witness you will climb the rankings but this is also not correct.
You will never climb the ranking because the top people vote themselves and between themselves into the oligarchy and you aren’t going to get a slice of their pie.
Proof?
Look a @JerryBanfield, the King of Steem community promotion. He is not even close to getting entry into the Oligarchy and he has been contributing his socks off to the community and pleading for votes for weeks, something that got him to only no 50.
Just as the huge majority of posters make 3c on their posts lured by big bucks earned by some, so witnessing is another mirage, waved at our hope to lure us in to what looks more and more like a pyramid scheme.
I’m going to keep my witness running to keep you posted.
So here is the outcome of a weeks Witnessing. It tells you all you need to know.
