Should people be required to hold steem power to benefit more from the platform?
I see a lot of different examples on the platform where there is little to no consideration to the idea of making people want to hold more steem power to benefit from the platform. Yet this is an important puzzle piece to the entire ecosystem as a whole. Steem cannot go up in value if there is no mechanics put in place to encourage people to want to hold more steem power.
My video is at DLive
I have been considering the fact that larger curation rewards would help do this. I understand there are changes coming with curation but I havent looked into it.
That's an interesting point indeed.
I agree. Steemit should pay 10% on SP held. Also, alot more focus should be on delegation of SP.
2% not enough? You can be lucky to get that much in a bank. 2% is enough IMO
Isn't stake-based voting already a good enough motivation to hold SP?
No, as it stands there is no incentive for great content creators to see value in buying and holding more steem power. They can essentially just take a 4 dollar account and post great stuff and make as much as everyone else.
Which sounds fine in practice, it also means there simply will never be a reason to bother growing the value of the platform. This means people who hold steem are essentially working for free.
Perhaps end users were never the target demographic to hold STEEM tokens. I'm more of the mindset now that they are meant for devs and investors to hold. SBD and SMTs are more oriented to end users and content creators imo. Whether or not those SMTs will hold any value is probably going to be based on the DAPPs funding mechanics (advertising or whatever) and how much people value the DAPPs and want them to grow. Just my two cents.
All content creators who wish to take the endeavor seriously should be greatly encouraged to hold more steem. There should be a point of entry that ranges at least in the hundreds of dollars. Dlive should give smaller upvotes to people with accounts that have less than 500 USD worth of steem. Trails should all place a need for at least 500 USD worth of steem power.
Ultimately steemit needs to get more of its users sitting on at least 500-1000 USD worth of steem power.
I don't disagree, but looking at the changes coming in the next hard fork... I think that battle was lost long ago. If people don't want to hold STEEM and just sell off whatever they make constantly... stop giving them STEEM imo. Ultimately SMTs are going to create the ability for people to have accounts and literally never use Steemit. We already have that sort of, DLive users or other DAPPs never have to even know they are on a blockchain. This is what mass adoption looks like. Get them using it without even having to convince them! :)
But ultimately the profit model of the platform is that the coin goes up in value as it gains popularity.
Different dapps are going to have to figure out their own profit models. Perhaps their only profit model is whatever STEEM they earn on the back end of running the dapps. The users give value to the SMTs. STEEM goes up in value as more dapps get on the platform as more of them are going to need steem to create accounts for their users and have resource credits to fund the transactions and such.
Ok, so that's the 1%, but what about the other 99% who can't make bomb ass content? They need to buy and hodl more SP to increase their gains here. I say this because I know how I felt when I first got here and I'm sure many feel that way.
I dissagree. Any reasonable person holding any amount of SP has intentions of helping this platform grow as it will increase the value of their holdings.
In this case, putting content creators feet to the fire and placing expectations on them is beneficial for people holding more steem. It also helps with spam. Accounts with really low steem power should even have upvote value throttled to some extent. 100 USD worth of SP should be needed to simply escape throttled upvote value.
Not really, its completely possible right now to do very well on this platform without ever holding any significant amount of steem. Its pretty easy to see this with people on DLive getting fully powered dlive upvotes ect. Seeing trails that treat all members of the trail equally is also like this. Its just pointless and it allows mediocre and bad content get upvoted which is bad for everyone.
How?
That's already done with votes being worth 0.00something unless you have 90 STEEM which will give a 0.01
I didn't say it's impossible to earn without having Steem but that it helps to earn more and serves as good motivation to either stack Steem by producing content or buying.
Those people have insane followings on other platforms (like the 400k on insta that Turkish livestreamer has) those people are the 1% not because of the bomb ass content but the fact they are popular elsewhere. THey have no intentions of building the platforms they use but to utilize their popularity and rake in profits based on it. They should not be looked at in any way because they are the 1%, probably even less.
I mean incoming upvotes not so much votes going outward. Either way I may be arguing too much in detail at this point anyway. I think my overall argument is meant as broad strokes. Not so much specific numbers. I need to step back from that.
I can see that, but at the same time, I want to make it clear that we should design our trails to go in the direction of providing incentives to people who take the initiative to invest in the platform. And dapps devs should do this as well.
So circle jerks and curation trails that do pretty much the same? woohooo!! that will surely help our platform grow and bring in more scammers and people who think that their steemit account is a money making machine.
BTW what is trevons trail about? Who does he upvote? those that have enough SP? IMO that scammer doesn't deserve to make 2 cents here and I have no clue why he is not yet expelled or flaged out of existence.
Well my point is that we should also as both as dapp developers and individuals use someones steem power and following as a metric for them to get upvotes. Dlive should be upvoting people who offer them as a platform the most value. Trails should follow this example as well.
Perhaps we fix the reputation thing to tie into Steem Power in some way? I don't think I've ever understood how it works, but I think I'm a much higher reputation than I should be.
Your reputation seems fine.
I guess I missed an important point here. Reputation has little to no bearing on your interactions with the steemit community. Obviously, people get flagged a bunch and their posts get hidden, but the way reputation is decided seems arbitrary and has little bearing on the power you hold. Now, if there were a way for higher reputation accounts to hold more power in their upvote, that could help with some of the upvoting stagnation we've seen over time. Hell, if done correctly, it could even replace SP, giving more (actual) voting power to people who use it and are active. We could then see more liquid steem changing hands and people could use it for other things.
Hell, I'd start trading in Steem if I had more liquid steem at my disposal...
I dont know if I would go that far. Honestly, just having Dlive put a requirement of steem power in order to reach verified status. Trails determining upvote power based on steem power in addition to judging if the content is worthwhile is good as well.