The Glaring Problem of LeoFinance

in LeoFinance4 months ago

Let me start off by saying that money is absolutely one of, if not the biggest, factors that pulled me into this platform. The fact I can get paid to exercise my hobby of blogging and honing my english skills, as well as applied critical thinking to various financial subjects has been a BLAST!

I know, I know. That sounds wholly greedy. But that's the theme around here! I believe the folks over at LeoFinance have struck such a golden balance between plentifully rewarding authors for creating quality posts, and incentivizing the community with rewards by upvoting other people's content. If you were early enough to upvote a post that would eventually go viral, then you get rewarded handsomely for it, prompting everyone to read the content and adjudicate whether it's worth the time of anyone else. Essentially, everybody in this ecosystem is always involved in the earning process.

Sounds great, right?

Almost.

Just as Bitcoin heads towards a trend of centralization, so too does the audience of LeoFinance flock towards the central figures of the community, the "vital few"-- I'm talking people like @scaredycatguide and @trumpman, people whose measly posts composed of as little as 2 paragraphs and an image, even broken grammar and missing words, would accrue them more upvotes and, more importantly, money than a minimum wage worker at McDonalds in such a fraction of the time.

Despite this, I remain grateful. Grateful for what the HIVE blockchain has provided to everyone on this platform. But a small part of me tells me that it's not worth the time investment. Something keeps yelling at me that the platform has plateaued in performance, that people like the aforementioned are the real winners making the big bucks with such little effort, and everyone else is an underdog feeding off the scraps. Curator's picks work towards relieving this schism, but I can't help that they too are part of the flock.

Don't contour this as me crying for attention, because I'm fully aware I'm of the underdogs, and I understand my voice is by no means going to be heard. This is, however, a call to action to whom it matters. The plane is not even, and curator's picks do jackshit towards evening it out.

Then, you might think, if Curator's picks start featuring posts from amateurs, then the whole page would be overrun with garbage posts.

As if those people I mentioned and more don't already dish out garbage posts? Yet still get paid for it fully? Hell, just look at this and tell me it brings anything of value to the table.

I realize as I type this out that this sounds like a rant more than anything. This'll probably get my reputation points tanked to 0. Anyhow, If you you're still reading, then you have my sincerest thanks for listening. I also realize this won't go anywhere, given how rigid the walls of the echochamber are.

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slow and steady wins the race ...

i just barely beat homelessness and still have a long battle ahead 'suing' my govt for disability

so, while i might not necessarily 'win' the race , I am sure as hell gonna limp along LOL

i've tried the 'get rich quick' path - that didn't seem to work

so here i am on the 'get rich really really really slow' path


just keep going - it will start to add up

i started at $0 and i'm up to like $500 - i can't cash out because i'm unbanked , so i just keep adding pennies every chance i get

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heres a small push, lol.

keep hustling friend

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Hang in there my friend. I am a former homeless person and it took me a good while to get back on my feet. It was due to accepting help from others which is very difficult for me. I suffer from the sin of pride.

In the workforce for the majority of my life starting at the age of 14, a stint in the military and then back in the workforce. To admit that I needed help was anathema to me. I used to look down at the homeless. The universe has an ironic sense of humor as I became homeless.

I do not know the circumstances of your current financial situation, but things will get better. Then you will be able to pay it forward which, to me, is really being rich!

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amen brotha ;)

i was carpenter for majority of youth (i started at 16) and after my back injury I just haven't found my place yet -

i seem to be doing OK paying it forward .001 $hive at a time LOL

thanks

I love your daily swearfest! :D

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Command accepted!

Hey @alexvan, you were just shared some LUV. With at least 5 LUV in your wallet, you can give 3 LUV per day, for free. See the LUV tokens in your wallet at https://hive-engine.com or learn about LUV at https://hive.blog/@luvshares

Coming back from your profile, I realized you were already doing great as a newbie.

I'm not really gonna go deep into how I began or how sometimes the process is slow, but am just gonna tell you that these people in mention are early adopters and investors, if not even part of the team!

Without them ever believing and investing into this platform alongside other leo whales, right from when it was still lil valued, we much likely wouldn't have what we have today!

Trumpman is an Investor here, a believer, a diamond hand and a Shitposter, so what do you expect?

It's not like these guys can't over you that full long and elaborating contents you desire, but it's because they ain't want too.

Kings don't beg for food, they get it without stress because they are kings!

You gotta focus on growing yourself rather than get pissed over others rewards, of course you have your freedom to speak, but it much likely won't mean shit because you didn't care to get to know them before judging...

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Pretty fair points. I know It sounds like as if I'm bitching after I couldn't jump the queue, but I've always been led to believe that quality content will, in the end, prevail. And to see that they could get away with so little seems unfair to me.

But yeah, I should grow and familiarize myself better with the community rather than blow my top off on it.

I do really appreciate you not only reading my post, but taking the time to look at my profile. That's quite the rarity around here.

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How's that a rarity?

You can't come an expect to be noticed by everyone as a newbie. You have to work at it. Go on a commenting spree leaving high-quality comments. That way you WILL be noticed. But it's never an overnight process.

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it came as a result of a combination of vastly generalizing my experiences with other blogging and social media, and of a cumulative frustration of not gaining traction not from this platform alone under a different alias, but from the other big dogs in the game as well. I realize this blogpost came as vastly emotionally charged, and I honestly can't help but feel like apologizing for that.

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The upside of making that post was the discussion it sparked. I hope we now we have more clarity as to what needs to be done.

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I wholly appreciate you coming forward with your unfiltered thoughts on the matter at hand, I can't stress that enough. Other blogging platforms can't even come close to how tight-knit this community is in terms of being expressive, and we have the founders and early investors to thank for putting such a profound precedent for culture around here. You, and several others have certainly solidified that thought into me proper.

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I agree. This poster is raking in pretty good rewards relative to the quality of his content.

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you make fair arguments.

Here's my take

Its been three years since I am here when almost nobody was, onboarded over 30-40 people (most of whom bought and/or powered up leo!) and posted since nobody else did. I always made small posts, cause thats the way I like it and have fun, always bought leo everyday for two years and powered up everything. I recently stopped self upvoting and I try to upvote and follow new users without looking at their stake. I dont care if i am a pillar or if people upvote me, expecting a vote in return. I am here to have fun, and make money.

Also, check the simpleanalytics of leo. You will see that my shit posts get daily traffic from twitter, reddit, blurt, publish0x and occasionally google. And posts from other people too, because I took the time to share them on other places. E.g. recently we hit braves reddit front page thanks to a share of mine( and of course marky who wrote the post, lol). Reminder, views = ad revenue = coin burns

I cant speak of others but I feel ok with the value I bring (and extract) from leo. Which after two years i think is just 1000$, my first investment. I made more since then. Everything else has gone back to the pot (powered up). Chances are most users here have cashed out more REAL money then I have.

Self upvoted for visibility.

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He's basically talking based on emotions of not getting rewarded but it's understandable, you don't need the justification, we know what you bring to Leo and it's insurmountable

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His point was fair imo deserved a fair justification of my side ^_^

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Amen.

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It's a testament to this community that so many whales are open to dialogue. In other communities you would be ignored or downvoted into oblivion but here you actually get answers to the question you pose. Don't get me wrong, I fully understand your concerns as a fellow pleb, but @trumpman has been one of the nicest and supportive people I ever met in the hive ecosystem, and bear in mind I've been here for 3 and half years (on and off). And I agree with him when he says that we are here to have fun. Because if you're making money and ain't having fun it's basically like going to work for most of us

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I can attest to that, and especially after the man himself helped bring attention to this post, definitely take back a point or two. I think it's the way I've dealt and others have dealt to me in other blogging platforms and social media that really made me generalize, which I now understand that was a grave mistake and a vast understatement.

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It's a testament to this community that so many whales are open to dialogue. In other communities you would be ignored or downvoted into oblivion but here you actually get answers to the question you pose.

Straight up

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One more thing about the founders getting a lot of votes.

Can anyone argue that @taskmaster4450's content is not massively valuable to this platform? The man is a raging Hive/Leo permabull who's been at it consistently for three and a half years Hive and since its inception on Leo. He's got the broadest vision out of anyone I know on Hive of the meaning of the entire crypto movement. Taskmaster is also an early investor in LEO who believed in it and promoted it when there was basically nobody here.

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I was going to make a comment, but after reading the comments on this post? Everything I was going to say has already been said! Therefore; I will not be redundant. I just wish to share a few thoughts.

As a long time critic as well as a long time hodler of HIVE, I understand your frustration. Then again words that I have used in the past have caused me to eat crow on numerous occasions. Many times because I would make assumptions based upon insufficient information or I was drunk and in a bad mood.

I have found the LEO Finance community and its central figures, as you have termed them, some of the most gracious and giving folks around as is indicated by the rewards on this article.

As suggested by others in this comment section, the way to get noticed is through networking. I once read somewhere in a HIVE post some excellent advice:

For every article/post made, comment on other people's posts 100 times!

A post's content value is determined by the consumer(s) of that content. Trumpman makes me laugh and has invested a good deal in both his time and funds, Scaredycatguide writes good articles about real estate and has onboarded a good number of investors who are also involved in real estate, there are others as well that have interesting things to share that I value.

Do I read every post I vote on? I used to, but to be honest I don't now. I just try to make use of my voting power and spread it out. Yours is one of those exceptions. I have a very short attention span, but read your post through twice.

No one is forced to vote a certain way. Whatever the motivation, curation rewards or interest in the topic shared, that is the business of the voter and none of mine.

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I get it.

It’s hard NOT to get marge payouts when you have a lot of followers.

It is hard not to have followers when you have been writing DAILY for what seems like years.

Even me who only writes sporadically Can mass big votes sometimes because I have been here so long.

It will come, mostly because the people you mention also spread out their votes and reward new users.

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Absolutely. I'll try to interact within the community some more, but I honestly doubt it'll do any good to me.

But the problem is that the comments all sound robotic, generic, without soul-- And I honestly feel like I fall within that category of comments. I wouldn't bat twice at one of those comments, why would anyone to my comments?

Well, I guess that's my problem. I'm showing more of my formal and professional side and not showing enough of my personal side that can relate with the readers.

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I definitely am not a "comment on everything person" for the same reason. I think the most important thing is consistency.

Be around consistently for six months and you'll find that it becomes a lot more natural.

Sometimes I comment random stuff on posts but since the writer has read my
Comments before so many times - they know my personality and what I meant.

But the problem is that the comments all sound robotic, generic, without soul-- And I honestly feel like I fall within that category of comments.

Comment better. This is a socially powered network, socialize.

It will. I found you from a comment :)

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I'm grateful you did, absolutely. I never thought it'd bring your attention so soon.

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Today, on the contrary, I decided to be silent less.
My English may not be perfect.
But I don’t know without trying.

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Absolutely. I'll try to interact within the community some more, but I honestly doubt it'll do any good to me.

Why?

But the problem is that the comments all sound robotic, generic, without soul-- And I honestly feel like I fall within that category of comments. I wouldn't bat twice at one of those comments, why would anyone to my comments?

Then don't write robotic comments.

Well, I guess that's my problem. I'm showing more of my formal and professional side and not showing enough of my personal side that can relate with the readers.

You can write any type of comments you want as long as you see to it that they bring value. If you bring value, you will be rewarded for that. It's as simple as that. It helps if you actually want to do it because you have something to say.

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I think there are a lot of people who feel the same way as you at some point. I certainly am one of them. It is inevitable every now and then after three plus years on here. I think as much as you criticize the authors you mentioned for their post being low quality, there are also the cases of people who put out great quality posts, but do very little engagement or curation with the community. I almost find that a bigger "sin" than the alleged low quality posts. To be fair, to some degree they can't control how people vote for them. I do know that the two you mentioned have been very generous with their upvotes. I have gotten votes from them myself and I am definitely not part of the inner circle. I didn't take your post as a rant. Just a headspace that many of us have been in ourselves over the years!

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Just as Bitcoin heads towards a trend of centralization, so too does the audience of LeoFinance flock towards the central figures of the community.

The problem you describe here is people gravitating to the content of the central figures? Yet it sounds like you're talking about the distribution of rewards based on the info you provide further down in your post. That said there are reports that show how the top accounts are voting, there's data to support that the distribution is decent. I mean it can always be better right, but many of the largest stake holders make real efforts to distribute votes among a wide range of authors and there's data to support this.

It's actually one of the strengths of this platform! If we think back to steemit in 2017/2018 and all the bid bot circle jerking that was going on, the distribution here on LeoFinance is night and day.

Keep it fun, keeping making content and engaging and stick with it, I think you'll do great. The fact that your English is good and you care so much is already going to separate you from the pack! I would say get to it now, once ProjectBlank is in full force I have a feeling the competition for rewards will be a lot tougher than it is now ;)

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Thank you for your words of encouragement. Remind me to send Trumpman some LEO for helping bring in thoughtful and loquacious people like you here :P

Yes, you described it perfectly; People tend to gravitate toward those with the glittering crown, understandably so. Not trying to downplay the generous efforts of those with the crown, though. their efforts are never in vain when it comes to encouraging the creation of content and onboarding new recruits, but they can only do so much. It is rather the pattern of dissemination of those people that serves as a barrier to the spark of a discussion in newbies' posts, or to bringing forth concerns, problems to address, thoughts on a matter of much debate or bringing to light anything that might be of interest to the greater public. All of which are the newbies' focal element when making a post. Curator's picks serve to bring to the surface those kind of posts, but how effective are they in doing so? How many diamond in the rough have slipped through the cracks? Evidently, many things are in order to relieve this divide.

Do you think it's possible a similar situation to Steemit could take place? There's a degree of self-voting, but do you think we'll see a rise in bots in, say, three or five years from now? Because That can form quite the impediment towards new recruits, it becomes essential to incentivizing the creation of content.

Appreciate you dropping in, man!

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I don't think that's a problem as long as quality articles get their upvotes and on Leo, I think, they do. Not only have this place given me tons of LEO, I have greatly improved my skills and more importantly, knowledge and understanding about crypto.

Keep on writing, engage with others and soon, you'll be trending!

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Congratulations @leonordomonol! You have completed the following achievement on the Hive blockchain and have been rewarded with new badge(s) :

You received more than 100 upvotes.
Your next target is to reach 200 upvotes.

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Check out the last post from @hivebuzz:

Happy Birthday to the Hive Community
A successful meetup and its commemorative badge

Believe me @trumpman is probably one of the whales that is hitting it here, helping newbies and all, don't say this because it hurts to not get votes. I started posting here because of @Trumpman advise to do so.

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Trumpman's achievements, impact on the community and the trajectory on LeoFinance as a whole are forever-lasting, and will go down in history as such. You'd have to be really foolish to deny any of his accomplishments in bringing forward the community we have now. Suffice to say, I have a lot of respect for him along with the others.

In hindsight, yes. It came as sort of emotionally charged, but those were my honest thoughts on the subject matter that I realize now are erroneous.

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and I understand my voice is by no means going to be heard....

You have been heard

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No words can articulate how happy I am to hear this from such a commendable, powerful person in this community. You have my utmost respect for taking me on, onealfa.

But acknowledging the problem is the first step, and the second step is establishing a meaningful dialogue on what is to come. In addition to this post, I made one few days ago detailing what should be in order for the platform.

I noticed that you've upvoted this post, alongside the others. I am sonorously flattered, but I value the betterment of the community as it matters to me most, and upon reflection, I'm willing to give my author rewards back to you at your own holler.

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This is really deep but for me I Know they all started from one places and surely your time is also coming just keep in pressing harder