RE: STEEM's Biggest Villian
You are viewing a single comment's thread:
We definitely need more market research in understanding the reasons for powering up and powering down among other things. This type of data is gold for every other social network out there, but nobody seems to care or have enough time to be bothered about it here. This is exactly the type of insight we need to stop stabbing in the dark and start informing our decisions for building a better platform.
AFAIK, the reward pool is based on a % of the inflation, and the inflation is determined by total supply. The inflation % changes year to year, steadily declining, but as the supply keeps rising, the effects of the percentages are compounding.
I do think there's a bigger cost to some flags than people realize, but without any regulation (flags), we've seen how much the reward pool gets abused. I think the community can find a balance if the right incentives are baked in, but it will be a bumpy ride there.
I sure can't wait to see how the #newsteem folks plan on marketing the platform to prospective investors. One of the big incentives in investing in Steem is having more control over the reward pool. However, once people learn that it's unethical to reward yourself, then the only benefit in buying into the blockchain is the prospective of becoming either and unpaid reward poolice officer or and unpaid content curator. That's a hard sell.
Content curators get 50% of the rewards now since the last hard fork, so it's not exactly unpaid. And "reward policing" pays as well, just not in the same sense. It's more of an abstract payoff in the same sense that keeping a clean house doesn't provide monetary returns, but still provides value.
Oh, that's a fair point about the content curation! The other is abstract indeed, I know some are really getting jollies from it. May they live in interesting times. Steem really needs to define itself concretely in an easy to understand way before pitching itself to investors. It seems after you join it becomes very commune like. But the idea is to sell capitalists on the venture. Not sure how this plays out in the long run, but it'll be fun to watch.
Well even if you're not a content creator, or a curator, and just want to earn a passive return, delegation rental is still a thing as well. I agree though, steem really needs to define itself as a brand in a clear and concise manner, then the userbase will have the necessary means to go out and spread the word.
True that, and the big obstacle there might be, will the user base embrace said brand.