Have you guys read this???
100 days of Steem Day 14: The Contest Support Fund
Contests are an important part of getting a lot of people to do a ton of work for no pay. By incentivizing a big group of users with a paltry prize pool one can make sure they have lots of options to choose from.
An example would be choosing a logo for branding. You don't know what you want, so you can't pay one person to do it. By hosting a contest you're sure to have lots of different logos one can choose from dynamically.
Steemit realizes the important of contest funding, so they are willing to help out the community by funding them.
Through the Contest Support Fund we are offering to provide upvotes from the 1 M SP @steemcurator01 account as prizes…
- 1st prize - 100% upvote (currently $12)
- 2nd prize - 75% upvote
- 3rd prize - 50% upvote
That's right!
Steemit's brilliant plan to fund contests is to simply suck that money straight out of the reward pool!
AMAZING!
Who would have guessed that Sun would have started using Steem as his personal piggy bank?
Oh shoot it was everyone huh?
Everyone guessed it.
Although technically Steemit is directly funding the baseline.
If you believe the Tron Foundation is actually propping up the value of Steem around 2200 Sats like I do, then they are directly funding the reward pool at the moment. Keep it up friends, I've got 8 more powerdowns to go.
What is His plan?
Daily Steem Stats Well if you check the stats the only users powering up are Korean accounts. The play for Steem has always been one about acquiring more users. At this point it becomes quite obvious that he can't get his money back, therefore he will do what he always planned to do and trade the money he has spent for more users.
Steem has no blockchain devs left and no one that actually cares about the base code. All Sun has to do is port over dapps to Tron like he originally planned and everything will be good to go. As long as the frontends (Steemit and dapps) seamlessly transition to Tron and no one can really tell the difference, no one is going to care.
Of course maybe I am overthinking this. He already fully controls the network and gains even more control every day. He might just continue ruling the platform as is and continue "development". And of course by development I mean getting the community to do all the work, as has become obvious by these 100 days of Steem posts.
More than a half million coins are flooding into the exchanges per day, and we can probably expect this to last at least another 60 days... assuming he doesn't go on an account freezing rampage (big assumption). No wonder why he censored @penguinpablo's account.
Conclusion
Justin Sun is a scammer, abuser, and exploiter. He'll use all his power to leech as much value as possible from the community that remains on Steem. I kinda feel bad for the Korean community, but they've been warned countless times. Let's see where this Stockholm Syndrome nightmare leads.
Personally, I think this path leads down that of a ticking time bomb. Most everyone Sun is supporting isn't helping the platform at all (quite the opposite). He doesn't understand the economy but that doesn't stop him from tinkering with it in the worst ways. Hey wouldn't you know it, it's just like the real world economy we see unfolding today.
Eventually he should come to the conclusion that what he's done to the platform is completely unsustainable as the Tron Foundation continues to bleed value attempting to hold this 2200 Sat level. What happens from there is anyone's guess, but it obviously won't be anything good.
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