Why I Would Support Inflation Funding the SPS (Steem Proposal System)
I support funding the SPS out of the Inflation Pool even if it only comes from the Author Rewards because it gives us a growing fund to do reduce the SteemIt, Inc Bottle Neck.
Community supported projects could be funded and developed independently of SteemIt, Inc's development team. These projects could be development, applications, sidechains or marketing.
If we want Steem to not be SteemIt, we have to have funds and resources. Right now we literally are SteemIt Inc, because, it is the organization funding and driving everything we do.
Discussion of the SPS and the benefits it can give have been lost in the clamor of EIP, which I am not going to talk about.
I am very much in favor of making the long-term decision to fund SPS.
@whatsup,
Yeah SPS might be a good option, but how that funds might distribute? Who handle such funding? and how to avoid scammers like Dlive did before?
So those are the questions that we wanna find answering in that case!
Cheers~
Inflation funding is a good idea because it will be closely watched by large stakeholders and T20 witnesses.
Taking it from authors or curators will get rid of accountability.
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In short. Steemit inc will decide which project to fund.
Nothing new. Just 10% less for steemians.
But at least this time the people doing the work will not work for Steemit inc and the project might get done? Just an optimistic thought!
I like this thought
I agree as it also adds accountability and can serve as the ecosystem’s own R&D side as well as some potential marketing. Maybe we can have a stage like EOS just did; it sure was fancy!
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As far as I know, inflation funding is a go... There is just this thing about agreeing should it be all authors (which I am still opposing) or shared from both witnesses and stakeholder.
We had interesting suggestions amongst witnesses, with number - but then again somehow top20 are in favor to keep both witness rewards and stake % intact.
Anyways SPS should have been implemented in HF19.
Cheers.
A small % coming from authors towards blockchain project development seems fair, but I definitely do not think that funding should solely come from authors. With the curation going to 50% there is already going to be a drop in motivation for authors to create quality content. I'm all for future steem blockchain success and development. I just don't think its fair to do it on the backs of struggling smaller accounts that will already be hit hard by HF21..
I am currently. Not for 50/50
What do you think would be a fair split?
I think the stakeholders should ball up and flag abuse and not expect to get paid for it.
I don't think our internal math needs work I think our stakeholders have to protect their own investment via delegation or curation. They haven't done that and now they want the blockchain to fix it. It's a young inexperienced way of pretending they don't have to manage their own investment and that they can still win. It will not work and is a waste of time.
I could not agree with you more more!
50/50 would be reasonable for project funding I guess.
I'm for it, I don't care how it gets funded. :) I have no clear way to know what is a go and what isn't as the witnesses keep claiming consensus communication is worse than SteemIt Incs.
I agree, I think it's definitely worth it. We could see an explosion of real work being done around here. We could hire outside talent to create ads, use it to fund marketing those ads. Lots of potential for sure.
Yeah, so many things we need to do and we can't wait for steemit inc. Not saying what they do is bad, just saying it isn't enough.
Without a doubt the most important part of the upcoming hardfork ... long term funding source of the SPS. I too am in favor of funds coming from the inflation pool.
I hope people fully get the importance of your post. We need to move away from Steemit Inc. That doesn’t mean they are bad or incompetent or whatever, it just means our blockchain needs to be consistent with our entire message of decentralization. To practice what we preach here means we have to move away from Steemit Inc as the main contributor to the blockchain code, etc. We still need/want Steemit Inc’s participation but we also want all of our other developers as well and these people need to be directly rewarded for their efforts. Those rewards have to come from somewhere ... and somewhere stable, aka not donations. That stable source of income is the inflation pool. Without a doubt.
It's not the problem where the funding coming from. It's on which project is spent and who decides that.
And that's exactly explained in @practicalthought's comment above.
I agree with you. Inflation is one way to obtain resources. The Steem inflation is controlled.
Yes, we need to change that. They are very slow for the amount of things the community needs to gain adoption again.
Yes, but how much?
If it were up to me I would go 10 percent across the board. I will support any reasonable percentage.
Do you have numbers of how much is that 10 percent?
It could start with 2 percent and go adding percentage to reach 10 percent after a year, this to see if something changes without being so rush. At the same time this would give time to find what projects to help with this.
I think it is a really good idea, anyone who sees how Steem Inc is being handled will realize that at this rate we lose.
If Steem is such an awesome chain, why do we have to offer subsidizing start ups? Seems that this is just one of many methods being introduced to squeeze more from the masses for those at the top.
It's their game, but thinking here as with all things here, the same high stakeholders who will benefit from the proposed curation changes will also be quick to vote for free funding for their and their buddies projects. If the projects succeed, it is theirs 100% to do with. They could move it to another chain, or they could decide to squander it playing guitar and partying.
The question will be if after these changes come (they will come), if the price of Steem will have enough valuation to achieve the squeeze they need (for now).
Almost all chains and especially those with apps have an incubator or foundation.
Incubator, foundation, alliance, initiative - give me your money.
Now we arguing about the percentage of rewards and downvoting.
Then we gonna argue about which project gets money.
If developers see potential they should work for free and accumulating steem. They will get paid later when their successful project raises the price of steem. Not to mention motivation and competition. And I agree 100% with @practicalthought.
{Then we gonna argue about which project gets money}. lol looking forward to it.
We gonna arguing and bitching but steemit inc will decide anyway.
Proof of stake, right?
Don't forget shadowy figures like freedom whose anonymity is supported by stinc..That whole situation for me at least, spits in the face of the principles steem is supposedly built on.
But, afterall steem is just a microcosm of everything that exists in global capitalism. Special interests, lobbying, a pseudo democracy that distracts the powerless masses through the age old divide and conquer technique.
Steem like most ideas involving the distribution of wealth are great on paper but falter when put into practice. Why? Human nature, This is a competition. There's no refs or really rules and consensus is dictated or decreed by those at the top.
Evolving to a paradigm shift where we're not triggering our base instincts of flight or fight for sustenance isn't going to be a pleasant process. But, that's what's churning from the bottom up like a wave that will eventually find a balance. Nature always finds a balance. The games we all play are only natural..
I couldn't put it better myself.
My point is there's no point to worry about what's gonna happen because we can do nothing about that.
I think the appropriate response is "steem on"
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I can see your line of thinking but this is where I disagree.
Your correct assumption is greed will rule the day. People are going to want to maximize their Steem wallet value. Maybe there is an exception to that but for the most part that is true.
To me, this means the highest stake holders are going to want to increase the price of Steem overall, not just perpetually skim Steem off the SPS reward pool at $0.4 value. It is more valuable for them to increase the price of Steem 25 fold and that will be the motivation of their voting patterns and the reason this system will benefit everyone here.
You specifically mention freedom. If the price of Steem is at $10, they will have an account with about $97.5 million dollars. It would take much longer to skim that much off the top at these prices then to work toward increasing the value of Steem to $10.
I'm not against the HF changes and I think it can be beneficial after the dust settles.
I'm not exactly sure how the largest stake holders have an ability to manipulate the price of steem in this scenario though?
I think that's largely out of their control and has a myriad of factors that exist outside of steem. Not cannibalising themselves by bleeding dry the internal mechanisms of course can't hurt in efforts to raise the price. But, if there was a magical way to increase steems value solely from the inside it would eventually collapse under it's own weight.
I haven't had my coffee yet though so please take what I say as a flimsy rebuttal.
I have no doubts a $10 steem price is in everyone's best interests from top to bottom and fixing the economy is a critical step in that direction. I don't think the incentives could be any worse than they are now. Nor could our image and ranking outside of steem that likely thinks we're all willing pawns in an elusive ponzi..Promoting more communal behaviours and having whales and witnesses willing to come together to see that through, will instill confidence and this along with features, reliability, speed of transactions, and a healthy crypto bull run could lead to price increases..
Of course nobody can guess what someone like freedoms motivations are, but getting rich off of steem seems logical...
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