Thoughts Ahead of Steemit STEEM Hard Fork 21

Steemit has been near and dear to my heart for the past 2-years. We survived Hard Fork 20, and we will survive Hard Fork 21.

In two days, Steemit will initiate the changes laid out in the STEEM blockchain hard fork 21 document. Changes include a reduction in rewards for posts that achieve less than 20-STEEM, a 50/50 curation reward and changes to the curation algorithm as well as instituting a downvote pool.

All these changes have Steemit users riled up, and remembering the cluster that was the result of hard fork 20. The last hard fork instituted resource credits and voting mana. The result was a number of days after the fork of only whales and high Steem Power holders being able to use the network. When the dust settled, we returned to normal, a bit shaken but we adapted.

I have thrived post- hard fork 20. Hard fork 21 may reduce my daily rewards, and it will be fun to make more curating. I believe that overall, the system will balance itself out. People will be rewarded more for voting, and can downvote using a pooled system. It will be more interaction. Will bid bots use this to their advantage? Yes of course. The Steemit system is an economic system using voting as a currency. So, like any economy, those with resources make more money. I plan on building community.

Smart media tokens are coming soon, and hard fork 21 will lay the groundwork for their usage. I already use Steem Engine tribes, and plan on building my tribe coins and actual community there. My advice is to keep doing what you are doing. For small fish like me, I anticipate lower rewards, but plan on working harder to build my rewards back up.

Sources:

Read all about Steemit Hard Fork 21 here:
https://www.coingecko.com/en/explain/steem_hf21

Picture from Pixabay.

https://coinmarketcap.com/currencies/steem/