SteemFest Q&A: What Do You Want to Ask Ned?
SteemFest 3 is fast approaching and Steemit CEO, Ned Scott, will be kicking things off with a Q&A moderated by Steemit’s Content Director, Andrew Levine (@andrarchy).
Share Your Questions
In the interest of having Ned answer the questions that are most important to Steemians, we’d like to invite you to post your questions in the comment section below and upvote those questions you believe to be the most valuable. You can also e-mail your questions to us at [email protected].
The Steemit Team
Question @ned:
Will you remove Author and Curator Rewards in SBD/STEEM/SP after the introduction of SMTs and the implementation of Oracles? And replace these rewards with an "Steemit SMT". This is in my opinion the next logical step. Long term I only see Witnesses rewarded with new SteemPower, authors/curators only with SMTs. That would kill all the bidbots, votesellers, selfvoters.
Curious questions from a noob @ned:
The current stake-based voting system is broken and unsustainable, because Curators invest time and get back around 15-20% of their vote value, while vote sellers invest no time and get back around 70%-90% of their vote value.
I see SteemPower as the base resource everybody needs to be active on the Blockchain. There will be a SP Delegation market for all these resource-hungry DAPPs like SteemMonsters, so the more SP you hold, the higher the income from SP leasing.
@Ned, Should we be powering down and getting rid of our STEEM?
It would :)
Edit to clarify: Oracles on SMTs would have the ability to reduce possibilities for bid bots etc in their rewards ecosystems. Not saying “it would” in relation to STEEM’s rewards mechanisms
Will SMT's have Steem collateral behind them? How will we ensure that SMT's actually have value given that unlike Steem (or BTC or other crypto base tokens) they are not the means by which we access network resources?
SMTs backed by Market Maker Pools can be up to 100% pegged to STEEM.
I think that answers my question perfectly, thanks!
I wonder if you can % weight the peg, or adjust it when live?
I imagine that most SMTs backed my MMPs are likely to start out wanting to be pegged, but if the shit-show continues here, perhaps in time they'd like to break free?
I'm thinking collateral could be used to provide a floor in the price. There doesn't necessarily need to be a downward peg mechanism. What also hope is that witnesses could redirect Steem from the reward pool to back certain SMT's as a matter of policy. SMT's by their nature are inherently inflationary, locking up Steem as collateral would counter this, especially if it's directly from new issuance. Eventually it could completely encompass the Steem reward pool. If SMT's and Oracles succeed then the reward pool eventually becomes redundant, but it needs to be done in a way that doesn't create de facto inflation, but also ensures the tokens (both Steem and SMT's) have real value.
We are going to need a new office floor at this rate :)
Your understanding is far ahead of mine, I have nothing to add. Did you see steemit inc are looking for technical writers with sound knowledge of the 'protocol'.
Not sure if this would interest you or not?
Was @sneak working/contracting for Steemit Inc when he wished a Steemian to kindly die in a fire (twice)?
Did Steemit Inc do anything to distance themselves from those statements made by @sneak? If so what did you do? If not why?
source
source
I get it now, you are mad at Ned and looking for validation. Why? You have never seemed to be someone who would get snowflakey and worry about "mean words".
What do you mean? If someone working for or in close cooperation with a company that you do business with, wished for the death of someone who didn't posed any treat you be totally okay with this?
Neither of us actually think sneak wanted anyone to die. Why are you mad at Ned? What happened to your Stake? Why are you suddenly making a ranting post a day, should have used your influence while you had it.
Words have meaning and these were very poorly chosen words. I'm not mad at Ned. Asking if anything was done seems pretty normal.
I had planned to post those posts before losing my delegation.
The words he used were... d.i.a.f. which is common Internet slang.
I thought it was dumb and rude, but to suddenly be upset about it, seems disingenuous. You had plenty of time to make these posts.
Anyway, I wish you well.
I've personally complained to @andrarchy back then and I was never satisfied with his answers and actions for that particular event. No apology of any type have been made since then and they would stil be very much welcomed and warranted.
This year, the French president offered his apology to the family of someone they have treated unjustly. The incident had happened more than 50 years ago. The family said the apology was very much welcomed.
Do you even know if the person he was speaking to is still around? lol what was the date of that post? When did you lose your delegation?
Do wou agree that "the price of STEEM" and "the evolution of the price of STEEM" (perhaps expressed in BTC) are the best indicators, the ultimate KPIs for the quality of the job you do at the helm ?
If no, what other indicator(s) you use in order to figure out if you do a good job or not?.
If yes, do you have some targets perhaps ? When do you want to see STEEM reaching 0.2 mBTC again? 0.35 mBTC ? 0.5 mBTC ?
Hi Ned. Do you believe the largest stakeholders have a moral responsibility in the Steem system? What would those responsibilities be?
Wow! I would love an answer to this one.
Very good question +1
Have low stakeholders also a moral responsibility in the Steem system? What would those be?
See how bid-bot works..
Check what it's all about..
Hope someone could create a statistics about Gini's coefficient on Steemit reward system. That would be easier to measure & look from above.
Just sayin ;)
Yes, when do you plan on finishing that letter that has been on your desk for over a year now to Elon Musk informing him that it doesn't matter how many shuttles he sends to space his hair is still awful and he will never be as beautiful as us.
⠠⠹⠀⠊⠎⠀⠮⠀⠃⠑⠌⠀⠏⠕⠌⠀⠕⠝⠀⠌⠑⠑⠍⠊⠞⠲⠀⠠⠓⠯⠎⠀⠙⠪⠝⠲⠀
Leave Elon~Chan alone you... BAAAAAKAAAA!!! He will bring us Genetically Engineered Catgirls..
whoa whoa whoa. Slow your roll. I got no part of this.
Still waiting on this. Seriously.
Since I can't talk to @ned directly, I will consort his hair. What are you doing about @ned's early balding?
First and foremost I must say that is fake news. We are in no way balding or even thinning for that matter. We may go on the occasional crash diet but that is about the extent of out thinning out. To answer your question though I will say it is much like my haircut, layers. First and foremost we use a special shampoo shipped in from somewhere in southeast Asia. I can not divulge anymore on the location as it is a highly guarded secret. Next, we get a daily scalp massage using baby penguin feathers that have been soaked in lavender. The final layer is directly after showering my hair is blown dry by the top 20 witnesses. It takes years for them to perfect this and to get the lung capacity to finish the job in 1 sitting so that is why you rarely see any of the top 20 move out of their spots. If they do drop out they probably got Emphezima. I hope this was helpful. Please feel free to shoot me any other questions you have.
I knew that somehow that the witnesses were doing way more than just creating blocks. Unfortunately I don't think I could ever be a witness. I have allergies that send me into sneezing fits and breathing problems. Given the description of lavender soaked baby penguin feathers and other exotic shampoo ingredients, I am most likely allergic to you :(
Glad you put the balding rumors to bed.
😂😂😂
Posted using Partiko Android
What are you doing to correct the issue that exchanges have operating a steem node? This prevents STEEM or SBD going in or out of exchanges for weeks or months at a time. Each time there is a disruption of the blockchain, the recovery time gets worse. Other currencies don't have this issue.
When do you expect to remove the beta tag and make a push towards mass adoption?
What does Steemit Inc. intends to do with its stake of Steem?
-Using for salary of staff?
-Investing / paying for Commercials / big marketing campaign?
-holding until moon (and beyond)?
Have fun in Krakow!
What do you think are the main things currently keeping STEEM from being a top 10 cryptocurrency? What can we do to address them?
Very good question.
STEEM was number 3 (number three !!!) back in august 2016 (I wasn't around back then, sadly). Since then, it seems to be mostly downward - after a number of months in the top 30 we have now slipped out of the top 40 !
I have some clear ideas as to why this is happening but of course what matters is what Ned and the Top 20 think ...
Bear in mind that 2016 was near the depths of what was otherwise a crypto bear market. There wasn't much competition in terms of top 10, all values were much lower, etc. Completely different market landscape, so this isn't entirely a Steem issue.
That said a lot of Steem's fall in rankings is a Steem issue IMO. We haven't conveyed a strong value proposition to crypto investors, either because we don't have one or don't communicate it well.
Comparing like with like, Ethereum, Ripple. Dash, even Nem were already around (not to mention Litecoin or Lisk). The market was the same and has been the same for all of them and yet if you look at the performances of the Top 10 from July 31, 2016, only MaidSafe Coin has performed worse than Steem. No other crypto from back then had a worse performance when compared to Bitcoin. I don't see how you can say this is not entirely a Steem issue.
We DO have a very strong value proposition, of that I used to have a strong hunch and I invested on that hunch, but now I have formal proof. I believe and am not afraid to say that we have THE HIGHEST value proposition in the current blockchain landscape. We sit on a bloody gold mountain.
If we didn't manage to convey it is because we have been targeting the wrong audience The "crypto investors" cannot see the true value proposition of Steem.
We have a bloody Stradivarius in the hands of Paganini but he's playing in front of an audience of DEAF PEOPLE
Forget the "crypto investors" we should be focusing on "normies"
No reason we shouldn't be in the top 20. I think our user retention keeps a lot of potential investors away. The beta tag can't save us forever.
It would certainly be nice to hear Ned's view on this since he is steering this ship.