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RE: Steem Budget Proposals Whitepaper!
I stand 100% behind this proposal as I already told you at steemfest Jerry.
We are all stakeholders, co-owners and co-creators of the platform, but we need to start acting like it too.
I doubt an increase in inflation would be very attractive. But there are certainly funds to spare. As you said, a majority already goes to those that have the most, and these are also the same people who will benefit the most from work being done to improve the platform and thus increase the value of the token.
Hey @fredrikaa! Great hanging with you at SteemFest!
I too like the idea, at least parts of it. A Dash Central style app is a great idea, but there is no reason for a hardfork (which would be required to alter the Steem distribution algorithms). This can all be done using existing Steem features and would also benefit from leveraging an SMT (or two). Also for anyone wondering, the way hardforks work is not by tacking things on to them. That only makes it harder to come to a consensus. The Steem community has been moving steadily toward more specific and limited hardforks. They are not an opportunity to cram in more features (which requires more testing, more development resources, more risk of breaking the blockchain, etc.). That isn't friendly to 3rd party developers and isn't good for growth or value creation. The Steem community of witnesses and developers are trying to push updates that make this a more broadly applicable, performant, and developer friendly platform on which to build applications and that's definitely a very good thing for everyone. Applications are the best way to solve important problems. Steem on.
Community Liaison, Steemit
@andrarchy, As @snowflake, appears to be saying - wouldn't a change to the distribution of funds, away from witnesses and towards budget proposals, be one that is fundamental enough to require a hard fork?
how could that level of change possibly be covered by an app?
or do we have our wires crossed here? :)
The actions required to push through a hardfork, and fund a proposal system are fundamentally the same: getting enough steemians to agree that capital (in the form of Steem) should be committed to a specific purpose (proposals). An app that enables people to voluntarily commit funds to proposals they like, store that Steem in escrow until the goals have been met, and then transfers the funds to specified accounts is a good idea regardless. Basically it would be like kickstarter on Steem. This would be a much more dynamic and sustainable system that could adapt rapidly to changing circumstances. In fact, it could also be an insanely profitable business because as Steem has feeless transfers, the platform could undercut platforms like Indiegogo and Kickstarter dramatically. It is also achievable very quickly. I don't think anyone who believes that doing this through a hardfork understands how difficult and time consuming the hardfork process is. It also requires a TON of engineering bandwidth--bandwidth the Steemit Team certainly does not have. An app like the one I describe could be built in a month. So why not try that first? All of the people who think it's a great idea can fund it and seed it with capital right now. A hardfork will take 6 months to a year assuming you can get all the witnesses and Steem developers on board, which you probably can't because this is a major change to the cryptoeconomics of the protocol which would threaten to disrupt the entire system. I am simply proposing a solution that is achievable in contrast to one that will be time consuming and practically impossible to accomplish. Blockchains are not designed to be changed willy-nilly.
I see, ok - thanks for explaining. Is there a good link people can reference so that they can learn what's involved in a hard fork - so as to optimally make use of the process?
My pleasure. Hardforks are a highly technical process. They are done through github here: https://github.com/steemit/steem. The blockchain is intended solely to be a sustainable and decentralized database. It is not a viable place to look for solutions to specific problems non-engineers believe they see on sites like steemit.com. It's like wanting to change iOS because you want a feature on your phone. Applications solve problems, the operating system (in this case Steem) is designed to maximize the number of valuable applications that can be built on it. It is simply the wrong place to look. Limited use case features like this diminish the value of the blockchain, they don't enhance it. What I'm suggesting is an app potentially worth billions that could compete with kickstarter and indiegogo. The alternative is a proposal to throw a wrench in the cryptoeconomics we have spent the last 2 years perfecting.
Yes, I appreciate that hardforks typically are for the purpose of altering the mechanics of the blockchain. I am a system architect and engineer - but have not worked on blockchain technology first hand. As far as I gather, the only reason that the hardfork was mentioned in this post, was, I think - as a means for adjusting the witness payout percentage.
Oh C'mon give me a break! The only technical part is to have 20 witnesses all agreeing on getting a 50% haircut.
That's not true. There is a lot of coding and testing. The requirement for getting it right is extreme. The release and testing cycles are very significant and expensive.
I'm actually in favor of a budget system, but for it to happen realistically means it needs to go on a roadmap and get carefully designed and carefully implemented. That is likely years away, considering that team is already busy on things that are already on the roadmap for the next year at least.
All of these posts calling for this or that fast and radical change to the system are a waste of pixels IMO. That's simply never going to happen. It is sad to me (and my confidence in the content voting concept) that people continue to vote for them.
@andrarchy is right, there is a lot that can be done within the existing system. There's no reason, for example, that 10% of the reward pool couldn't be voted daily into a multisig account controled by several respected community members and allocated to budget items. That can happen in a week or two with some web development.
EXACTLY. If the large stakeholders think this is important enough for a hardfork, they'll the think it's important enough to implement WITHOUT a hardfork and voluntary funding.
Thank you, @smooth.
If this is the general consensus within steem developement team it is pretty worrying...I really hope it's not and it's just your personnal opinion
Do you think bots solving the problems is better? Because they are currently showing all the holes in the steem blockchain.
Of course this is just my personal opinion. In the end the only thing the devs look for are github pull requests and stakeholder/witness consensus.
Wait...are you saying that having the STEEM blockchain fund its own projects/growth aka being a true DAO is a limited use case or did I miss something?
That's like tipping, good luck with that!
That's very disappointing to hear, the reason I've sold all my BTC for STEEM was because I saw a team of developers that were very reactive and not afraid to take risks ( How many forks on steem again?) But you guys sound like bitcoin core now...this means the curation reward system is never gonna get fixed, time to reconsider my investment I guess.
Steem is able to iterate faster than any other blockchain, but that doesn't make it an easy thing. But these are just my personal views, everyone should of course evaluate the situation for themselves, push the proposals they are passionate about, submit pull requests and consult with the witnesses. I'm just throwing in my 2 cents.
Likewise mate!
I'm far more concerned with the what rather than the how. On one hand, it seems to me to be the biggest problem for the platform with generated value leaving the ecosystem through delegated rewards that correlates poorly with contributed value (often through vote-buying). On the other hand, this (or something very similar) seems like the biggest opportunity. It is hard to imagine who would come out poorer at the end of the day except for those with only a short-term interest for gains.
Anyways, I look forward to share my take on this as well in the coming days. Hoped I would have found the time already to sit down and write my thoughts. But for some reason, the beaches here are more tempting than sitting inside on the computer.
Take care Andrew and cya at steemfest3!
I think the idea is to have a seperate pool for proposals . If there is no money dedicated to these projects they will earn about the same as they earn on steemit which is peanuts.
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Comments aren't ads. Demonstrate that you understand this (stop begging in your comments, and let me know you've done so) and I will reverse my downvote.
You have repeated this ad 13 times on Jerry's post. Actually, one of them you actually wrote a few paragraphs which had similar content as one of your posts, and then ended it with more begging; I didn't downvote that one.
This one, I downvoted 100%. The other 11, only 1%. Cease this behavior and let me know, and I'll remove this 100% downvote. Note that you should let me know before 7 days have passed, since votes cannot be changed after 7 days (i.e., after the post/comment pays out).
#libertyteeth the purpose only is to make followers you know that . I am new to steemit and don't know how to make followers so I think this will be a batter option .
I'm pretty new too. It's not even 4 months since I started and do you know how I went from 25 to 48 reputation and 219 followers. First I started commenting important, valuable, sensible things. That alone got me ~170 followers under 3 months.
Then I started making my own posts few times a week. They were somewhat long and informative. I also share links to other people's work. That got me ~50 followers and didn't even take 3 weeks.
Steemit is a community where rewards are split according to the contributions. It's not all fair. You could work hard and only get few cents because all your 30 something upvotes were minnows and another someone can earn few dollars because of 1 whale. But that's not the point. The community is the point.
Steemit has the single greatest large online community on the face of Earth and the actions like yours can only ruin it for us. Spamming isn't a contribution. It's an annoyance.
Don't start thinking of steemit as just some quick way to make few bucks. If that's what you need, go start a blog. Steemit is about sharing value. If you all you do is make few short posts and spam it all over the place; Honestly just go and Fuck yourself because steemit probably isn't for you.
Here, have a 100% upvote before I change all my 1% downvotes to 100% downvotes. He is unrepentant when shown the correct way to behave.
He can still repent before 7 days are up and I'll reverse them, but, he'll need to do a really good job of explaining how he learned why what he's choosing to continue doing is wrong.
Thanks.
I checked his comments now. He has continued his rampage even after your warnings. Guess my advice didn't get to his head.
Hopefully we'd get more productive people into steemit to outnumber these bad actors and maintain the quality.
Happy steeming!
Don't presume to know what I know. First, there is no "only purpose" of Steemit; there are many. Second, "making followers" is not a goal in and of itself; @vimukthi did a great job explaining how to properly interact with the community here.
If you are new, you should read the Steemit whitepaper; do a search here for things like, "how to be a good steemian"; "how to write a good steem post"; "what not to do in comments"; etc.
Begging for anything is never looked on as a productive, community-focused endeavor. Not for upvotes, follows, comments, likes, or "will work for food".
What gave you the idea that you should behave this way?
Explain to me how you have now determined that this behavior is inappropriate, and that you won't do it again, and be sincere and know that I can follow up via you comments page -- Steemit is an open platform -- and I'll remove my downvotes.
They're all now 100% downvotes, as well, based on your response to my helpful advice.
Yes we are hoping to make steem the greatest crptocurrency and give competition to the well known social networks -- by getting rewarded for the content we share.
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A great company will leverage its assets and reinvest them to develop new profit / value creating products / services. Should these proposal projects move forward, this would be a GREAT example of Steemit leveraging its assets to create new value in the real world, the profits of which could be put back into the steemit ecosystem, creating a buying demand for Steem, If we could build 10's or 100's of profit making companies on the steem blockchain using fresh capital from these proposals there would be enough buying pressure in the steem price to over power our friends who have been sitting aobve the market over the last few months with their huge sell orders.
Well said, my friend!
I know the problem of steemit and the token steem !
The problem of steem as I already said is that is related to dollar price and not to bitcoin price, if someone invest in steem he will not earn more bitcoin but less, so of course people will invest in bitcoin, if the price go up in bitcoin not in dollar things change so !
@clixmoney is it possible that Bitcoin Cash would become the NEW Bitcoin since the transactions are quicker ??
i agree with you @stokjockey
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I think the idea behind steem is for it not to be a speculative cryptocurrency like most others, but a cryptocurrency with some real utility. The fact that one of its components is pegged to the USD gives it a higher chance of mainstream adoption. I think we should be shooting for "regular" people not crypto enthusiasts and surely not just speculative investors that want to buy assets low and sell assets high.
Steem creates a platform that allows people to produce something relatively tangible (content) and be able to earn on the quality of their work.
not the quality is mportant for steemit, the most important is how much you invest in it, if you invest a lot and buy a lot of steem power you can upvote yourself and earn good money, but if you can't invest even if you have a good content you will not earn good money anyway, I am posting for almost 6 months on steemit and since I didn't invest I still earn cents !
...and we're basically waiting for the dollar to collapse and the real value of it to rear its ugly head...
Hello, can someone tell me how this works 😅😅
Great platform for people who are starting new in blogging . They will get wider audience because of seo ranking of steemit . Well But i doubt when steemit will be famous and start eating through the google ads revenue . Google might lower the seo ranking of steemit
Hello @fredrikaa
We all need to support this proposer 100%
Steem will rise beyond imagination
@samiwhyte
Yea, what you said. 👍😀🍺
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upvote my post pls support!!!!
Comments aren't ad space. Begging tends to get you downvoted/flagged, which affects your reputation. Demonstrate that you understand this (stop begging in your comments, and let me know you've done so) and I will reverse my downvote.
Good call!👍