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RE: What the FLAG is going on?
I will simply say that I don't know the answer to those questions. Hopefully someone with more technical knowledge will answer. If I can claim any understanding, it is normally at the conceptual level which I appreciate can be of limited use at times....this is one of them as I would only be guessing.
Fair enough, I respect your honesty regarding the matter.
I will share an observation for what it is worth. I administer a faily large investing forum, which is why I am online so much. Anyway, when the markets are going well everyone is happy, telling one another how much they admire each other, love in the air.
But when that market turns downward everyone starts looking for someone to blame. It gets fairly heated and many have to dealt with at the administrative level. The Big Red Button...
Steemians aren't happy with steem at 16 cents evidently, herein lies the real problem. So they blame everyone else.
Have a look at any of the numerous charts posted yesterday and notice that huge dip in steem price compared to everything else. That dip wasn't caused by some successful steemian "draining the reward pool" :)
I appreciate your insight and I agree to an extent...there is currently greater friction because the community reacts by trying to create efficiency. If Steem was making new highs daily, there wouldn't be the same focus on how the reward pool is being utilised....but the fact that it is creates an opportunity to try to deal with some of these issues, which would exist anyway, may be useful.
I also appreciate that the affects of steem price on the reward pool far outweighs the attempts to use it in enterprising ways which occasionally causes friction. I'm certainly not against innovation but I would like the most efficient, honest and value generating initiatives to succeed.
The bigger picture here is that a blogging platform will only attract a certain number of quality writers/bloggers/artists/photographers/experts etc. The majority of users on this platform will be readers if it succeeds. In order to help it succeed, it needs to be easier for people to aggregate and find information. Steemit could be the source of a considerable percentage of the world's trusted information. The success of Steemit is not necessarily tied to millions of bloggers but it is tied to attracting the best researchers, journalists, bloggers, writers etc....it's a bit chicken and egg but given the fact that ordinary people like me love Steemit, there is real hope.
Steemit is only the beginning and once the other applications that are exploiting other niches are all working in concert and offering the unique benefits of Steem, the Steemchain and synergies between them all...then the pressure may come off Steemit in a positive way and Steem should begin to make some real moves. It's certainly fun to speculate ;)