~~Staking~~ Stating The Obvious
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As I mentioned before a few weeks ago if you don't stake you will only go backwards. I have been watching the rewards on the posts and they are dropping slowly each week.
It is your stake and everyone is free to do what they want with it, but it is going to get harder to grow shortly. two months ago it was fairly easy to get a post to over 100 000 Sports and now we are at the 50 000 - 60 000 range for a top payout.
Over the last few weeks I have been trying to see how much your own vote drops and a vote like mine which is 10 300 or so has to be staked daily otherwise it will drop. I have been experimenting to see how much it drops and it drops quickly.To keep me where I am now I need to stake over 60 000 Tokens per day and that is standing still and not growing my vote values. That doesn't bug me as I am still growing and staying ahead of the game yet I see others slipping away now. If you want to grow you need to stake daily even if it is something as it all adds up.
What we have seen with the markets over the last week or so is in my mind a little short sighted and suicidal as what value will your stake be providing come January? I expect 1 Million Tokens staked will give you possibly 500 tokens in voting power if you are lucky and not the 1 700 Tokens it currently gives you.
I actually can't wait for that to happen as less tokens will go to the market and the value has to rise at some point. There are one or two accounts trading on the Sports Market and are fleecing everyone selling and good luck to them.They have some buy ins which are very low and why they are manipulating the market the way they are and users sell at low prices feeding them more forcing the price even further.These are some of their orders which is their long term goal.That is about 75 x less than what the Token is currently worth and everyone is playing into their hands right now.
mancer-sm-alt bids 0.00002 STEEM for 6,250,000 SPORTS
mancer-sm-alt bids 0.00002 STEEM for 1,250,000 SPORTS
As I have said before I am here for the long haul and will support others who are staking and adding value. It is easy come easy go for some right now, but give it a month or two and you will be surprised as you would have thrown away the opportunity to grow and do something with your account.
If all the other users who staked when I joined they would also have Millions of tokens by now. Some users are staking and noticed some fresh blood in new users coming in now which is a good sign and something that is needed desperately.
I'm in it for the long haul and if I lose out for any reason then oh well. I'm powering up any rewards I get now, and hopefully will invest some more into when I get my next allotment of hubby allowence from the wife haha. Hopefully that will push me past a million rather quickly.
You will get there quicker than you think as you write decent articles and will be supported.
Honestly, I wish I were a better writer. Although nothing is better then lots of reading and writing.
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Yep, the inflation is quite fierce. I really don’t care what my vote is worth right now. It is a very young market, and I am as curious as you are for how it will be in a month or three. Staking all the way!
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I must admit the one day I didn't stake I was shocked to see the VP drop so much in value.
Outstanding analysis. need all support to support together
As the voting rewards keep shrinkng, its only wise to keep staking as in the long run those that do that will be in an advantageous postion.
I see lots of potential in this platform, so i'll be staking all the way
The reward pool isn't shrinking, the voting rewards for each tokens is going down because there are more staked tokens used for voting.
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Oh, voting rewards i meant
100 percent correct and it will only keep going down.
It will continue to decline.
It has to as more gets staked.
this was actually one big point why I thought Tribe SPUD would be good
I would love to see one day a week where everything gets burned on here and maybe we can start putting a dent into the trillions over time.
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What's the maximum we should stake to know that we staked enough to start earning?
Whatever you stake you are earning on curation and I think if you have a few 100 000 that is a good starting point for now and just to keep adding to the stake as often as you can. If you can do one or two posts a day just to keep it ticking over you should be fine.
There are some people we started together but are still far below 500k
Anyone who wants to reap bountifully in the nearest future should cultivate the habit of staking frequently
I am sure we will see certain accounts disappear sooner or later as it won't be worth their while doing what they are doing. Having no stake and just cashing out only has a limited shelf time and it is going to end soon.
You've really done a great observation, but it's inevitable in this kind of system not to see people who wants to crash the market and Runaway and make the project appear worse in the later end, but at the same time, you'll always find some, who will still stand firm till the end! #westaketilltheend
They won't be able to crash the market as the ones that are trying it won't have enough stake to do so. Less and less will be sold soon as the reward values are dropping. If it was going to crash they needed to have done this in the first month and possibly it may have worked.
Recently, i have come to realize that staking more sports is what it takes to survive on the tribe because with the look of things now, it is really going to be hard for people who doesn't have enough stake now in the coming time. I have also be staking the little sports that comes my way.
Buying in will become more difficult in the next 6 months as I am sure the value will rise and many will see what they have given up.
I am staking everything I can, but I feel like I am still slipping away. It is really hard to get ahead in any of the platforms. I wish I had went more all in when you did. I might be in a better position now.
There is still time and as long as you are staking whilst others aren't you are growing.
competition is good, let there be a ton of whales and let the market and people decide how they spend their own money, if the place with trillions of tokens made to begin with (not smart) can pass all the big bad scary stress tests then it has teeth.
You sell, I sold and bought back a ton more, so I invested and stake what I feel like like you do and everyone else. Trying to keep up with the inflation that is being used to pay refs is almost impossible so why is the focus not on burning excess tokens? Like I said in ABH's post, enough has been blasted away to set a precedent of what the community itself is more than capable of downvoting or supporting. Millions going to pay refs who helped launch it to not be a total scamfest could be going to null.
some inevitably will do the hashtags of #sportsbeforeeating because whatever reason and if someone is wanting to buy millions and millions and gets it in a free market then that's how it goes regardless of who on here likes it or not. I'd love to see whales pouring in and hopefully some hodl and some give back and some see the community and like it enough to support all us little guys because NONE of the whales on here are mega whales. none
Interesting and well written op/ed post. Cheers
I would like to see the community come into an agreement where 10 or 20 percent of post rewards are burnt and maybe could be matched by Sportstalksocial as at least that way we are still doing something positive to the overall volume. Trillions I feel was a big mistake as well and we need to get rid of some zero's somehow and I see this as a good way to start.
I was just thinking maybe we need to do some burn posts weekly using sportsvoter as well which would in theory burn double. If everyone got behind it and voted it we could possibly burn quite a bit and get others thinking along similar lines. 100 000 isn't really going to make a dent or even a few million really, but it is still positive and going the right way.
Patrick needs imho to be doing some updates, it's causing issues to just be a bunch of peeps being like 'what now?'
Burning excess is huge, am more than down for many things but nobody is at the effn helm most of the time and then the bandaid is to have refs. REFS ARE NOT HERE TO RUN SOMEONE ELSES BUSINESS AND TAKE THE WORK LOAD AND CRAP FOR IT EITHER. :)
This biz model or subject is gonna get taken up on things like SMT's and Voice, fast , realllly fast imho op/ed
Hell, let it go lord of the flies...this isn't worth enough to have a damn gaf fest on when it's on something others made that's laggy as hell with how much room to dev Dev things? What happens when SMT's come and a lot are locked in 9 months...
Being more worried about effin 60 bucks of ad revenue then other stuff is green horn as fuck
I'd be down to burn, having nobody at the helm a lot of time is awful though.
unless you have a brokers license and are in crypto dispensing financial advice aint' really any of our departments, this is not insured by anything and is at best on a laggy steem clone thing ,
yeah nobody at the helm
, so let's keep telling people to stake, that's fine if you want to, I don't and won't and would be the biggest staker on here if i thought there was any type of organized system on a ton of stuff that numerous people have tried to address. Nor does nobody at the helm mean that whoever gives the most shit coins out become Captain, in that case I could put on a hat or so could a ton others, dipping in with a message every few weeks and leaving it in the hands of refs is stale.
Patrick knows what he is doing and don't believe everything you read.
Patrick knows what he
Is doing and don't believe
Everything you read.
- cryptoandsports
I'm a bot. I detect haiku.
What do you mean by what now? I'm interested what that expectation is. I'd also be interested to why you want someone at the helm of a decentralized movement. The goal here is to remove even myself from being the force behind #sportstalk and instead serve to make Steem the home for everyone interested in talking about sporting content.
As for the referees they are not being asked to run a business. They are being asked to moderate the content under #sportstalk for abuse. I don't know when I've asked more from any of the referees. That being said they are paid for this responsibility as you mentioned above with an equivalent of 5% of token inflation. This has to date been paid from @sportsprojects rather than additional inflation. This is serving to lower the print inflation and distributing existing funds for uses without expanded printing.
While the community coming together to downvote posts is a great aspect to see it's not something that is sustainable to fight abuse. This was made evident early on which was why the focus on building a successful referee team has been the largest focus thus far. It is required to make sure that little abuses that would often be overlooked don't let the community die by a thousand little cuts. Instead the community can focus on aligning rewards based on what is actually valuable to them while referees go after the abusers. This is equivalent to the model that Steem has benefited from by supporting @steemcleaners.
When it was clear early on that abuse was going to overtake quality content without successful moderation I reached out to an existing referee to begin operating @sportsmod. They done an amazing job fighting off numbers of abusers and keeping the community's focus tied strongly to sporting content but it was far too much to ask of one person. Not only that but leaving one person's point of view was far too centralized in my opinion.
That's when work on the referee project began. This took the concept of a moderation account but allowed the account to be controlled by a group that was forced to gain consensus. This solved the problem of one person's voice being the only voice determining what spam was.
This still left a major problem as pointed out by users when the community guidelines was announced. I was requiring the community to only trust in my determination for who could perform this role. That's lead to work on the future of the referee system which will put SPORTS stakeholders in complete control over who the referees serving are.
Agree that in order for you to catch up and stay close in retaining your current vote value. Staking is the only option to do that.
It's amazing that you've put so much effort both in growing your account and rewarding genuine users here. You're one of the users who made me inspired to improve my stake. I'm currently sitting at 1.1m Sports as of the moment and I'm looking forward to hit 1.5m at the end of the month.
and what's even cooler is if you decide to invest and buy outright the price goes up
<3 freemarket magicccccccccc
I believe leedsunited was the one suggesting a split liquid/stake payout, which I would happily support and you're right, staking is the future if you're here to stay.
I really like that model myself. The only issue with it is that Steem Engine charges based on the active user. They define active user as someone who stakes their tokens. This would essentially make our bill for ENG tokens become astronomical to keep up with based on the large number of posts across Steem that come in. As we grow our staked ENG to support it's certainly something we will explore in the future.
Thanks for the info, seems logical and there's a lot we don't know.
Newcomers to the platform may not understand the significance of staking and its effect on vote value. It is good that you have raised this issue and provided some explanations.
This is nice. If you keep investing in sport, i believe it will yield much as time goes. So, those that can keep staking can go ahead and anticipating for the best. But, sadly i got currated by whales out here which is so touchy for me. I wish i have a whale that can add me to autovote
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Sportsvoter is not being utilised to its full capacity . Any reason why people are selling on market and not using this ?
my only Q to you, mr. @cryptoandcoffee... are you staking 100% of your Sports Tokens? I religiously staked ALL my Steem and hit Dolphin in 235 days. 🌶 I don't believe I ever used bid-bots until I was a dolphin, but I considered that an investment too. I've always supported the platform until I saw all the whales saying "STAKE! STAKE! STAKE!!!" whilst they Cashed OUT.
Good write up, well stated, and all that. 👍
Hi @underground. I would say 99 percent yes as I think over the last 3 or 4 days I must have staked 300 000 and maybe 5000 to the market, but haven't sold them and knowing me will bring them back. I see it as a must for the next 6 months anyway to stay ahead of the declining vote value and staying ahead by growing it. I have staked all my Steem as well and see that as a 5 year plan and will see how it goes. Good to see you here.
I've only been here recently to staking.
My goal is the 1 million sports, but that will take some time!
Thanks for this great post!