The Fundamentals of Moonification
Just thinking to myself after re-reading Isaac Asimov's Foundation Series. The tug-of-war between Hari Seldon's god-like predictions and the unexpected character, The Mule, kind of reminds me of Bitcoin and Steem's difference in contribution / reward mechanisms. Anyway, here's my brainfart on the fundamentals of moonification:-
Increasing cost of production over time. More difficult to gain, more difficult to sell cheaply.
Decreasing supply over time through transparent and mathematically-guaranteed operations.
Increasing demand and long-term holding over time. This requires network effects, growing utility, and market acceptance. It must be a platform that people can build stuff on.
Network must be secure. Unhackable, uncensorable, all the good stuff that provides stability to identities / assets.
Network must diversify its own investment. System requires possibility of breaking out of rigid, text-book rules. Reward all kinds of people (ok, or most). Exercise antifragility and trust the community to sort themselves out over time. Maybe reward more when it comes to market actors that improve signal to noise ratio, so the market will follow suit. Alright I'll admit this is entirely on faith in humanity lol.
Network should have zero transaction fees. Value is not lost arbitrarily as part of network operations. This network quality provides "savings" through long-term holding and frequent usage, driving use-cases and experimentation. Zero fees expand scope of market and productivity.
Network must facilitate fast transfers. More activities speed up network evolution, catching up with slow-moving giants.
So I guess it's just a matter of time for Steem as long as there's still a community using the platform. Bitcoin's proof-of-work, growing power demand, and simplistic protocol are good requirements for short-term capital growth since it's a contained "job scope". More order, less chaos. But it may miss out on the black swans that could only happen through proof-of-brain (assuming that indirect capital flow is suboptimal for a network). The same can be said of any base-protocols out there seeking to operate with some ordered, bounded, objective, non-social cryptoeconomics.
Of course, I'm totally armchair-theorising here and saying fluffy stuff along with the naive hope that chaos will work out some magic over time, so take my words with a pinch of salt. But in my eyes, Steem is beginning to feel like The Mule. An unexpected market force that could disrupt Hari Seldon's plans and predictions, the so-called "wisdom of the crowd" currently dominating the markets. It's my hope that Steem works in curating some of the best contents and accounts that could make all the difference in the world. #when-moon?
My very first publication in the digital currency industry, the 2013 classic that introduced the Decentralized Autonomous Company (DAC):
Bitcoin and the Three Laws of Robotics
Too bad you couldn't figure out a way to refer to Arkady Darrel, my favorite Sci Fi character.
Ah Arkady's another remarkable character, a key to Seldon's plan. Still a little hazy after reading through all the books! And thanks for the link @stan, I don't think I've read through the original DAC article before!
Detroit Swindle has me in a nostalgic groove, disco, mo-town, soul-train. It has a definite crypto beat like a crowd of coin rattling in a party bag.
Hahah u got that right, sounds like a rush to the head :)
wow Detroit Swindle..
music is awesome...
thank's for sharing
@followed and upvoted
The foundation-books always make you think. An incredible book seriers with a strange plan: history, almost Herodotian in its easy flowing narrative, as the protagonist... and then applied to cryptocoins :)
I am all with you... Steemit is the mule. I am critical in some ways, I think the best would be if people learned to pay for their entertainment again, but I have made a lot of money here... :)
I think that the quality overall is rather low on Steemit - I would very much like to see it improve, and if something will tip over the mule (as it happens in the books) it will be low quality.
I guess that's social media, there's a little something for everything here..
What about owning a certain amount of SP to access various kinds of entertainment in the network while even earning from it? I've always thought that the value of entertainment is proportional to the fanbase, and so far, fans hasn't been getting a cut out of their activities increasing the network effects of content / artists.
Sure, I understand the pros of Steemit. It's just... People I have pointed to the site, and who did not try out the intoxicating feeling of earning money on the internet - people who just looked at the new posts page - where not impressed at all. There is so much plagiarised, nonsense content here and many comments are just completely useless - I sometimes look at @vceliers page when he posts his translation of my comic and most of the comments are people begging or revealing that they did not even look at the post.
But you might be right about it being the same on other social networks. I have left all corporate sites a while ago so I wouldn't know.
nice thinking. I read all Foundation books about 30 years ago, but sometimes I think again about Psychohistory and its utopy about foreseeing the future, mostly because of the modern calculation algorithms we create today.
Bringing order to chaos is mostly a matter of need for certainty, imo.
But I'd think to BTC as the Mule in the Financial System. ;)
It's always a cycle isn't it? Order to chaos and back again. Yeah BTC is definitely the Mule in that sense :D
If i can throw in my two cents I'd like to add in "learning curve that is not steep and intuitive for the whole world eventually"
Which is where Steem really stands out compared to Bitcoin. You can say Bitcoin is this 16 gear Truck laden with gold and Steem a Tesla Roadster. Having gold is nice certainly, but i'd rather not be seen as the trucker with gold but the cool guy that swoosh myself around on Autopilot on Maximum Plaid mode.
Bitcoin's got a very big name though haha.. look at that truck flying to the moon!
Nah man! 10k is just the end of the runway!!
The points that you mentioned are quite interesting.
Increasing cost of production can result in the growth of token value but if it's difficult to earn tokens, it might also discourage a good chunk of people to participate. Just my opinion.
Market acceptance, yeah. And I'm glad that Steem community is working on it. The majority of your points positively applies to Steemit and Steem. I am hoping the price of Steem to reach to the moon!
That's right. For btc, they've a rising cost of production that's quite measurable. Miners wouldn't sell cheaper for what the cost is. As for Steem, the floor cost of production is not very clear to me..
That is quite a decent brainfart except I find 5th step a little controversial. However I agree fully on the mathematical explanations.
Yeah it is, but what's definite is we have a community that's always on the look out to give people some of dat steem..
Well eventually however if this place got crowded we don't have to worry about communities I highly think distrubtion of steem will only become fair with more and more users and investors
Anytime I hear the name "Isaac Asimov", the first thing that comes to my mind is his three laws of robotics. Maybe because I'm a proponent of AI and robotics.
I never knew he writes on other fields too. But now I've known. All thanks to you
Yeah Foundation is a really interesting one! The series is one of the finest space operas imo :)
I did understand the Detroit Swindle Sound and some thoughts I caught on the way there, like >>>>>
Really?! Does anybody really care about this? Does anybody realize who the loyal contributors are?
Anyways nice Write up Kev!
I edited out that sentence already haha! There are many longterm players for sure :)
🤪🤪🤪 you got my hint