Never want to increase inflation eroding STEEM or SP balances. Never want to reduce existing token balances.
Other than that, I consider just about everything on Steem fair game, at least for now. It isn't a platform built on a core ethos of immutability (unlike, say, Bitcoin) beyond the point of protecting balances. The goals of social engagement and rewarding are inherently experimental and challenging, and DPoS with a small validator set is designed to facilitate upgrades, so everyone should understand that this is intended and going to happen.
That being said, I'm also not in favor of changes being made unnecessarily or carelessly. But the question didn't ask about that so I won't elaborate on this aspect.
It is important to note that you don't need an inflation-based reward pool to earn with your posts. Literally no other platform economy, let alone any successful ones, pay their users through inflating a currency. We're still early on in an experiment to learn if this is sustainable and can work at all.
While I won't claim to know for sure (although I do believe so), it is very possible that we end up realizing that using inflation and stake creates more harm than good:
Unsustainable for token value, thus not only harming investors, but users too, as their token earnings also depreciate.
When rewards depends on stake-based-votes it creates a situation where users are only incentivized to share their content with those who have high SP, since only they can provide valuable votes. This is imo on of the biggest reasons Steem has not grown, as the whole network effect does right there. Literally every other platform gets its strong network effect due to the fact that creators who want to earn has incentives to do the exact opposite: To share their content as far and wide as possible to get more attention.
It is possible, and I think quite evident, that although distributing rewards through votes can be fun and interesting, it is also really toxic for a social media. People end up getting frustrated with downvotes, and look at the money in votes before they look at whether or not content and interactions felt valuable. Imo it would make more sense to have more traditional voting, and allow reward distribution that is not derived from inflation to happen outside of voting on posts.
But in any case, rewards doesn't have to come from inflation of STEEM. It can be an SMT like @geekgirl said, or even with liquid STEEM (my preferred option. Ideally, there would be an innate patrean-like model on Steem with liquid tokens, or allow communities to earn STEEM through ad-programs, community-related perks, promoted articles, and 20 other ideas I could mention. And then allow that liquid STEEM to be distributed as a community-specific reward pool where a portion goes to content creators and engager, and perhaps some to promote the community, or add features through a community-specific SPS. The options are many, and the reward pool using inflation is needed for nothing.
I don't entirely agree, I think there should be a place for inflation but not being totally dependent on it.
Generally, posts that organically grab mass attention will continue to grab more attention once it's popular. That's why the term "viral" was once used. Not everything pushed to the front page will be viral.
Let's say you have a book and want to advertise it in Steem blockchain, would you advertise on a trending post that has $200 in reward, but has no comments or resteem,
Or would you rather put your ad in a post that has only $1 due to low SP voters but recently received 1000 real comments and resteems and continue to get more interaction?
If you're selling any product you would know that traffic is valuable. And 1000 viewers with medium to low income is better than one very rich viewer
The rich may buy one book, but 1000 people may buy 1000 books.
That's why Steem need to reward posts that get more attention and more engagement because that's where the real money is.
(Example of paywall from yours.org)
Now imagine if Steem allowed you to have posts' paywall that people can buy to view the rest of the content
And what if the trending page was based on the number of times a post has been bought with an algorithm that prevents bots and self payments
What if Steem value was based on content being bought and subscriptions the like of patreon?
What if the reward pool algorithmically reward content that do well in terms of donations?
Now this is really a content/engagement based blockchain that we really want. I envy Lino blockchain for striving to become all that Steem failed to do. Except too bad they are only focusing on video content.
I think inflation is actually a good thing and one of the things that has set Steemit apart.
Inflation redistributes wealth, while scarcity keeps the wealth on the same hands. Bad for growth.
Infaltion makes it necessary to work all the time to keep up the investments - therefore it is more dynamic. Also good for growth.
I agree with your second bullet note about the stake-based votes. It might be combined with a vote count bonus.
I also think that the problems with Steem is that it has been so (ideologically) free that the experiment has been hit with so many clever machinations. Many people have left with a very bad story of corruption and power abuse.
I am not economically educated at all, just my overall view.
Could just create a rewards pool in which 51% of each vote is added to it. Then the pool is distributed daily based on a combination of voted vests, amount of votes(viral posts should receive more)(possible max amount of viral posts per week payout), early curation, resteeming and any/and or all other interaction requirements per day. As the network grows so does the rewards pool.
Once SMTs and Communities it actually could better to remove steem reward pool and drastically lower inflation. Curation with SMTs and Communities may prove to be more effective and efficient. Tribes are already proving this concept.
This will be unthought of should anyone dared it. It will mean tearing apart the very core fibers of Steem (my thought though). I think it should be up to the community to vote for what need to stay
The blogging and engaging. I believe many feel “games are the future” and that’s fine, I like games.. but there is something special about what the social aspects of Steem has built - a very strong community.
Hello Dear, @transisto
Free downvote pool. It could be a very nice feature if people use it wisely but you know things aren't always same as we expect them to be.
Follow Now @timesoffitness
Never want to increase inflation eroding STEEM or SP balances. Never want to reduce existing token balances.
Other than that, I consider just about everything on Steem fair game, at least for now. It isn't a platform built on a core ethos of immutability (unlike, say, Bitcoin) beyond the point of protecting balances. The goals of social engagement and rewarding are inherently experimental and challenging, and DPoS with a small validator set is designed to facilitate upgrades, so everyone should understand that this is intended and going to happen.
That being said, I'm also not in favor of changes being made unnecessarily or carelessly. But the question didn't ask about that so I won't elaborate on this aspect.
The change I never want? I never want to undermine STEEM Power.
The possibility of earning steem by posting (and therefore by curating). Some people are proposing to remove the rewards pool.
It is important to note that you don't need an inflation-based reward pool to earn with your posts. Literally no other platform economy, let alone any successful ones, pay their users through inflating a currency. We're still early on in an experiment to learn if this is sustainable and can work at all.
While I won't claim to know for sure (although I do believe so), it is very possible that we end up realizing that using inflation and stake creates more harm than good:
But in any case, rewards doesn't have to come from inflation of STEEM. It can be an SMT like @geekgirl said, or even with liquid STEEM (my preferred option. Ideally, there would be an innate patrean-like model on Steem with liquid tokens, or allow communities to earn STEEM through ad-programs, community-related perks, promoted articles, and 20 other ideas I could mention. And then allow that liquid STEEM to be distributed as a community-specific reward pool where a portion goes to content creators and engager, and perhaps some to promote the community, or add features through a community-specific SPS. The options are many, and the reward pool using inflation is needed for nothing.
I don't entirely agree, I think there should be a place for inflation but not being totally dependent on it.
Generally, posts that organically grab mass attention will continue to grab more attention once it's popular. That's why the term "viral" was once used. Not everything pushed to the front page will be viral.
Let's say you have a book and want to advertise it in Steem blockchain, would you advertise on a trending post that has $200 in reward, but has no comments or resteem,
Or would you rather put your ad in a post that has only $1 due to low SP voters but recently received 1000 real comments and resteems and continue to get more interaction?
If you're selling any product you would know that traffic is valuable. And 1000 viewers with medium to low income is better than one very rich viewer
The rich may buy one book, but 1000 people may buy 1000 books.
That's why Steem need to reward posts that get more attention and more engagement because that's where the real money is.
(Example of paywall from yours.org)
Now imagine if Steem allowed you to have posts' paywall that people can buy to view the rest of the content
And what if the trending page was based on the number of times a post has been bought with an algorithm that prevents bots and self payments
What if Steem value was based on content being bought and subscriptions the like of patreon?
What if the reward pool algorithmically reward content that do well in terms of donations?
Now this is really a content/engagement based blockchain that we really want. I envy Lino blockchain for striving to become all that Steem failed to do. Except too bad they are only focusing on video content.
I think inflation is actually a good thing and one of the things that has set Steemit apart.
I agree with your second bullet note about the stake-based votes. It might be combined with a vote count bonus.
I also think that the problems with Steem is that it has been so (ideologically) free that the experiment has been hit with so many clever machinations. Many people have left with a very bad story of corruption and power abuse.
I am not economically educated at all, just my overall view.
Could just create a rewards pool in which 51% of each vote is added to it. Then the pool is distributed daily based on a combination of voted vests, amount of votes(viral posts should receive more)(possible max amount of viral posts per week payout), early curation, resteeming and any/and or all other interaction requirements per day. As the network grows so does the rewards pool.
Once SMTs and Communities it actually could better to remove steem reward pool and drastically lower inflation. Curation with SMTs and Communities may prove to be more effective and efficient. Tribes are already proving this concept.
This will be unthought of should anyone dared it. It will mean tearing apart the very core fibers of Steem (my thought though). I think it should be up to the community to vote for what need to stay
the wallet: human friendly account names on a decentralized and secure platform with feeless & speedy transfers of value.
P.S. very good and an interesting question.
I call this the financimatics of Steem. It better stays decentralized
that we have blockchain based social media enabler
but I want inflation to reduce significantly like 2% and then reducing to 0.5%
This is already happening albeit slowly, and the planned minimum is I believe 0.9%
The blogging and engaging. I believe many feel “games are the future” and that’s fine, I like games.. but there is something special about what the social aspects of Steem has built - a very strong community.
Should check out Facebook and others, Seems like they have that part covered.
Don’t be an asshole. 🙂
Are you asking what the use case for Steem is or what I hope doesn’t change? Maybe you asked the wrong question.
I was thinking more at a fundamental level, I pointed out the economic changes.
For example many people think, I included, that the Bitcoin block-size should never be increased beyond 1MB.
For me stake weighted voting allocating a large part of the inflation should forever remain. Although this is being strongly challenged by the SPS.
The inflation schedule should always remain.
9 8 7 6 5 4 3 2 1 1 1 1 1 1 1% IIRC
Account balances should never be modified, obviously.
Nerd xD
content ownership and the right only author can edit,
This can be in the future a lot of value.
Steem doesn't do anything related to content ownership and never heard of any credible plan to get there.
but content is on blockchain right?
Of course is not verified the poster is the author, cant sell it, etc...... but the poster has the right to change it.
and I see potential to monetize old content in this way with Banner adds etc.
Edit: And its more Ownership then classic social Media.
Reward pool. The new system may lead users not to produce post but commetting or curating.
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How so? There are many platforms that do just fine without any reward pool.
We talk about Steemit or other platforms?
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Hello Dear, @transisto
Free downvote pool. It could be a very nice feature if people use it wisely but you know things aren't always same as we expect them to be.
Follow Now @timesoffitness