Sometimes you find more than what you are searching...


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Here I was... Doing some research about my next article about the @sbdpotato 🥔 topic, and oh boy... It's amazing the we find more than what we are looking for.

I was thinking about posting it today, but after some things I discovered, I will have to take a bit more time.

The main focus of this article is about how Steem economic system and the sbd peg works, so I going back to read the white paper and trying to understand how the blockchain code works.

And I found something that is kind of worrisome: Steem economic model has drastically changed since the first block was produced.

Yes, I know that is what hardforks is for, and adjustments have to be done for things to evolve.

But 2 big problems appeared with these changes:

1 - the steem blockchain doesn't work as is described on the white paper anymore. The white paper is basically the first thing investor have to analyze a blockchain system before deciding to commit his money into it.

It's just like a fake advertisement.

2 - the internal economic system is broken, specially the one related with the sbd peg.

Changes were implemented on the system by witness that changed the economic equilibrium, and these changes were done based only on the hope that it would work.

What this have to do with @sbdpotato? Everything, because everything they are doing is based on what the system was, not on what it is.

See you soon...


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09.01.2020 19:48
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Yay!
Your post has been boosted with ESTM. Keep up the good work!
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10.01.2020 02:47
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