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RE: Why steem is worth less than it could be, and what v.20 could do for us.
People are so concerned about whales and bots. Their power and rewards would be spread out to larger amount of users.
There is literally nothing in HF20 that will do this, and at least one thing that will make it worse. HF20 has some nice back-end changes - the new bandwidth system and the change to voting mana could be really nice in a quiet way - but it's not in any way a "golden goose."
This is basic economics, more people who hold your asset the stronger your currency is. In this case it increases the value because those in power have to accumulate more but unlike real world economies. We have a limit of how much can be printed, the more people and more apps that are out their the more the power is spread out which requires big holders to spend more to make more and have the same influence.
V.20 will allow cheap account creation which is needed for the millions of users we want to join the chain. The more users we have the more power is distributed into sp and peoples pockets. For abusers and bots to have the same power they do now they will have to buy more. As well the more people who join the chain they will buy more. Which has a much bigger impact than you think.
The biggest thing we could do with v.20 is to have huge fiat pairs, cn, eur, usd pairs for the currency so people can get in and out easier.
Distribution is essential to any economy, and just simply allowing cheap accounts means. New apps, users, services who will also buy into the currency which increases the value as well. Right now steem is really expensive to enter for startups.
I think this remains to be seen. They're definitely changing account creation and decentralizing it, but whether it actually becomes cheaper, easier, or better isn't clear yet.
It also doesn't help broaden the economic base if we're flooded by new users whose posting we can't support. Who has existing stake to vote on millions of new users? We need moderate growth as we build systems to welcome new users in ways that will encourage them to stay and produce, and we need the users in that moderate growth phase to build stake so they can participate in welcoming larger groups later. We don't have those now, and if we open the floodgates we're just going to have a lot of disappointed ex-users who tried Steem and never got anywhere. This is already a problem even with the volume we have now.
Agreed that getting fiat pairs on usable exchanges would be hugely helpful but that has nothing to do with hf20.
Fiat pairs has no effect but its more important than smt's whichis what were trying to get at. Account creation and getting on more exchanges is pretty important. A tad bit more important than smt's it could also have a huge impact on our market.