Publish0x Is The Only Platform Without Wealth Inequality | EP#204

Part of the original motivation for cryptocurrency was to help solve the wealth inequality found in fiat currencies, but it ends up the same. A tiny percentage of accounts hold the majority of any cryptocurrency while the rest hold tiny almost negligible amounts.

I’m hesitant to share this as it could negatively impact me financially and my reputation on these various platforms, but I’ve always given you the truth and all the information at face value unbiasedly and I will continue to do so.

Do keep in mind for some of those listed below, there are accounts that hold a lot that is meant for giving out rewards or for selling tokens, but they aren’t technically beholden to that by contract. Also, centralizing the sale of tokens is problematic as we saw with Minds when tokens went from $0.15 to over $1. I’m also not necessarily condemning accounts on Trybe for example for holding all the tokens in one account for reward distribution, but naturally, that is what wealth inequality is (when a small number of entities hold the majority of the wealth).

I won’t do this for every single platform, but you must be seeing the pattern here. You must also consider that many of these accounts can be owned by the same person and used to dilute what they appear to own.

What was interesting to me amongst looking through all of this was the realization that Publish0x, a platform I’ve been using quite a bit now doesn’t have this problem. Because Publish0x is crypto-agnostic meaning they don’t have their own cryptocurrency thus there can be no wealth inequality but there is also no way to stake and thus no way to exponentially gain more wealth and widen the wealth gap. Instead, everyone gets tips given freely by sponsors and the users decide how much they receive and how much is given out.

This means that in terms of wealth distribution, Publish0x is the only crypto-monetized platform that avoids this problem entirely and has the fairest and equal opportunity for people to earn from their content. The catch is that it doesn’t utilize a blockchain and it’s not very decentralized. No platform perfectly fits all the variables that would make it the best platform, but I felt this was worth looking at. The founder hasn’t even earned anything from the platform and has given away much more BTC than he has earned himself.

I believe crypto-agnosticism is the future of equal opportunity on crypto-monetized social media platforms.

You may be wondering too, why does this matter? If you come onto these platforms to escape wealth inequality, then you are surely mistaken to think the same thing doesn’t happen almost everywhere. I’m not blaming or condemning these platforms, maybe it’s just a natural consequence of economics the way they were set up. The point is that you as an individual have no control whatsoever over where the price might go so at any time the top 100 accounts could sell everything and the price will crash, and it will be worth nothing. The top accounts are holding these coins to benefit from your hard work as creators and users and the traffic you bring in the same way Facebook would. The only difference is they give you a negligible amount to make you feel better about it.

So, the reason this matters is because you shouldn’t waste your time on platforms that aren’t going anywhere in hopes you can make some money off of them because, by the time you could, it might just as easily go to 0.

For the full blog check out the links below:
Minds: https://www.minds.com/scottcbu....siness/blog/publish0
Publish0x: https://www.publish0x.com/at-s....cottcbusiness/publis
Steemit:

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