I would like to see, that the Coin "Steem" and its "Reward Pool" will be designed more towards an infrastructure Coin instead of using it primary for POB content discovery. The reason for that is, that with the introduction of communities and SMT the Steem Ecosystem is not only more about "Content creation" and discovery.
No, we have a bunch of financial dapps, gaming dapps, services etc... which don't have anything to do with content discovery. All those Dapps should have more or less "equal" chances to receive Support from the underlying Steem Reward Pool mechanism to earn and empower their communities.
I think Steem is good with Steempower for Voting on Witnesses and Proposals (plus a new feature in the future Voting for Communities and Dapps) and as a source of Ressource Credits. For me that should be enough, on the level what Steem is doing to support its Ecosystem and for the use of the POB mechanism...only vote for Witnesses, Proposals and SMT or Communities.
No, more voting and abusing the reward pool by creating and discovering or gaming the content creation part.
All this POB content creation and discovery mechanism should be happening on the level of SMTs, and its communities, because these groups will have Admins who are able to set in rules how each community handles its users and the way they value content creation.
If Steem gets understood as a infrastructure Token and SMTs are understood as a empowering Community Token, than we have a clear Vision for all participants Investors, Users and Creators alike.
I don't like the idea that we are aiming for a SMT Ecosystem where all these project fight for attention but the real mining of Steem only happens on the content side of things...somehow that doesn't make sense.
Why should other Dapps or Communities suffer from miss management of the Steem Reward Pool which is only used for content creation and discovery?
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This was my point in the last article I wrote on this topic - link is in this latest post. I used different words but an "infrastructure coin" is the same as a "central banking coin" - the point being that the social apps sit on top of this and may employ a mixture of native steem protocols and their own. Unless the core economic code is changed so that it truly aligns with its original social aims, our vision is the future - the near future.
Hi @rycharde thanks for your thoughts. I just checked {your post}( https://steemit.com/steem/@rycharde/we-are-all-bankers-here) you showed some interesting points about the "coin flow" and economics of the current Steem system. Your view is very focused on the financial incentive side of Steem.
I don't agree, that my view of an "infrastructure Steem coin" and your view of "central banking coin" are the same. But I think my suggestion would bring more clarity about the purpose of Steem as a Coin, that enables you to perform transaction on the Blockchain, and Vote for Witnesses and Communities, that keeps this place thriving. Without having the confusing discussion about POB mechanism to discover and create content.
Rather than having Steem as a "Bank Account" where you earn "interest" and earn "rewards for low quality content". The incentive would be more like, to hold Steempower because your Community is thriving with new users, and therefore you need more Ressource Credits for your Dapp to perform transactions on the Blockchain. Another aspect is that if Dapps hold large amounts of Steempower they will still get some portion of the Reward Pool and generate an income stream to empower their SMT Token and Users.
Hi, once you describe it, it looks even more like my idea! Maybe we may disagree on the methods, in that I can see a Dapp making rewards to back up their tokens but those reward-creating algorithms may not have anything to do with the Dapp itself. This is something for any finance officer of the Dapp to figure out.
That's forward thinking, and while I haven't deeply considered it yet, I think I completely agree.
That being said, I'd appreciate your thoughts on my reply to the OP below where I propose mechanisms I think relevant.
Thanks!
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