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RE: HF21: SPS and EIP Explained
Just to be clear things are being paid for by steemit. We can't expect them to make every fork and pay for them. This new system would allow us to lower our dependence on any one organization.
This is a backup plan for steem, if steemit goes bankrupt we need a way to fund development not saying they will but we need to have a plan for any eventuality. This will also allow us to come up with better features for these content creators. Development doesn't fund itself, we as a community should take the hit to guarantee the longevity of the chain.
We as a community can voluntarily decide to vote for and fund proposals as we see fit. SPS being funded as a tax on the ~10% of rewards shared by content creators whose median payout is .01 SBD is undeniably regressive.
I cannot imagine a set of proposals better designed to reduce Steem's dismal retention rate of ~7.5% YOY further. Every aspect of EIP and the SPS funding proposal is going to increase the flow of the economic activity on Steem into the wallets of the most substantial stakeholders before it can raise the price of Steem, and decrease the distribution of Steem to that demographic creating all the value of Steem by creating content.
If you want to cause the price of Steem to plummet, market cap to decline further, and to reduce the number of people creating content, I can't think of better ways to do that.