RE: an open letter to @ned
Its of my personal opinion that you poked the bear.. and 2 weeks ago Steemit didnt have much to worry about. Now Steem has a company with a billion dollars, and a genius developer with a vendetta to worry about. There will definitely be a social media competitor on EOS, you made that a certainty with your comment the other day
Understand that any plans seeming “reactionary” out of Dan have actually been planned and plotted for a long time. The only reason his competitor doesn’t exist today is the infrastructure needed to be built first—this is timing. Timing in PR as much as development.
Competition is a good thing and it was always coming. Embrace it. Compete on your terms. Build better product.
There was always going to be competition. Find our strengths. Build strengths.
Now we are in open competition. Embrace it. Flaunt it. Savor it.
We have SMTs. They never can.
Are you "high" or something?
Details matter on these platforms. Here are the important ones on this issue (copy pasted from @dana-edwards recent post https://steemit.com/steem/@dana-edwards/its-a-very-bad-idea-to-power-down-or-sell-steem-right-now-1518490604)
It's actually much more safe, valuable, effective to build these on Steem than any general platform, eos or anything else. I wouldn't dare code these on a general platform and purport they would work very well nor that they could have the same economic benefits to the core token. Ultimately, the idea of general purpose blockchains will also mean meta Proof of Brain tokens are limited by bad bandwidth or transaction pricing and other economic pitfalls, and in the end, application-specific blockchains will over-win opportunities like layered Proof of Brain tokens, such as SMTs.
Check out these sections of the SMT whitepaper. It mentions Ethereum, and the drawbacks of eos will apply just the same:
What Makes SMTs Better Suited to Application-Specific Blockchains, such
as Steem, than Application-General Blockchains, such as Ethereum? 53
SMTs are Safer and More Cost Effective in Application-Specific Blockchain Environments
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 54
SMTs on Steem have Aligned Proof-of-Brain Incentives with the Core Token . 54
SMTs on Steem Have Transaction Pricing that Contributes to a Quality User
Experience . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 55
SMTs Benefit from a Blockchain that has Scaling Processes Programmed to a
Specialized Set of Applications . . . . . . . . . . . . . . . . . . . . . . . . 55
SMTs Benefit from a Blockchain with Content Management System (CMS)
Primitives . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 56
How will you prevent a DAPP like "eosteem" that lives on EOS to adapt SMTs-like approach (not EOS itself BUT a DAPP on EOS)?
no one is trying to prevent it in the slightest. an SMT model on a general platform will always be hamstrung by its inability to cooperate with pricing agents (witnesses) by getting parts of its contracts specially priced (like SMTs on Steem are proposed to do). just check out the intersection of Market Maker Pools and bandwidth allocations in the Whitepaper. Steps simply must be taken to make tokens first class - that’s what Steem can go out of its way to do where general purpose cannot.
@ned I certainly hope your theories work out in real life application. I see the benefits you aspire it too, I feel as though there may be an element that’s missing but that’s how things grow down the road, for me steem is to decentralized social media as bitcoin was to Blockchain. It’s the legacy that will give your system the spine it needs to have SMT’s launch fairly successfully. I pray the best for the community, but this thread really calmed my nerves about this debaucle and the SMT rumours that have been floating.
Yes, embrace, flaunt, savor it! Visionaries aren’t afraid of a little heat, in fact they enjoy it. Turn it up I say.