The Hidden Brilliance Behind HF20 That Nobody Talks About
HF20 has been implemented for just over a week now and is running in full effect. So far, the blockchain is running more robustly than it ever has and the overall advantages seem to outweigh the bad. Three second comment delays being a huge favourite of mine! However, I also feel that one of the most important issues for the entire prospective functionality of the Steem blockchain has been addressed at the same time, thanks to the introduction of RC credits. Let me expand on this...
From the very outset (meaning the inception of the blockchain itself), I believe one of the most fundamental mechanisms of the platform itself was the Steem token. And in that, I mean users investing it into Steem Power to help build influence and the ability to network with others. However over time, it has clearly been demonstrated that many continued to use their token holdings as more of a current account than a "PoS" tool. Even though the process of transferring your Steem into SP came with some incredibly useful benefits, the average user still insisted on selling it off for other intents and purposes. And whilst I agree full well that anyone is free to transact their personal account as they wish, I feel this ran contrary to the actual model Steem Ned and Dan initially envisioned. Instead they probably saw things going down a much different and preferred route. The abundance of numerically more powerful influencers would in turn lead to bigger and stronger communities created, thus allowing the whole Steem blockchain to organically function and flourish. So, measures had to be taken to further motivate users to hang on to their stake as well as horde more. I feel this came in the guise of HF20.
RC's (Resource Credits) put the emphasis on long-term growth and sustenance of the Steem blockchain. RC's, in essence, translated into interact-ability with the eco-system itself. The more RC's you own (indirectly meaning Steem Power), the more posts, comments and votes are permissible. Through this type limitation comes a shift in perspective. In other words, SP just became a hell of a lot more valuable given a brand new set of beneficial advantages on the table. Add to this the "account creation" functionality. Imagine in the future if *(or rather when) SMT's lift off. Chances are very likely that this integral feature will become much more attractive later down the line as budding start-ups wishing to fast track themselves a new audience will have an easier means of doing so throughout mass sign-up processes. The use-case basis for collecting and powering up your Steem just got a whole lot more desirable.
My point is that this blockchain is bigger than any single one of us and that was the original intention of the developers behind it's creation. Steemians consistently adding to the building blocks of their accounts are eventually gonna offer loads more value to the Steem blockchain in the future. It's not that difficult to see. Remember that our personal blogs here are absolutely worthless without the support of a larger overall community behind it. Therefore, I'm of the hope that with the advent of HF20, more and more people with start to realise the intrinsic lifeblood that Steem Power really is. And I honestly don't see any reason why that shouldn't be the case...
Hey everyone!
Someone knows how to create account for a buddy from RC? And how much RC do we need to do it?
Supported the post! Thanks!
Tottaly agree, tipuvote! 3
Man, thanks very much!
This is true. Even before the hd20 I get offended when I see people powering down their steem power especially those with small accounts and if I was supporting them with votes before, I stopped supporting them because I thought they don't have a future in steem since they power down indiscriminately.
Am always going to stay powered up as long as steemit exists.
I echo those sentiments exactly, bud. Makes more sense supporting people who in turn support the platform. That way, we all grow together, albeit at understandably different levels. :)
Exactly, true.
Hi again @ezzy
Thank you for sharing your view on HF20.
Im not very optimistic about that fork. It seem that new users may have no clue what RC is about (there is no information about current RC level anywhere on Steemit) and it may discourage many of those new users.
Upvoted already :)
Yours, Piotr
Hey buddy and thanks for your reply! I feel that HF20 lays important groundwork for the upcoming SMT layer. Whilst the Steem Inc. marketing campaign has yet to begin, perfecting the actual product itself (being the Steem blochchain) is treated as a priority. So everything seems to be worked on in logical stages. And yes, you are right in regards to new users not being familiar with RC's at the moment but the existing community should provide the best informational resource for the time being. As I mentioned in my latest post concerning this, decentralisation at it's core puts the burden of responsibility on the individdual's shoulders. Except with other blockchains out there, they don't have the strong communication channels we have through Steemit. Everything a new user would need is right in front of them if they simply take a look. After all, the end game of any true decentralised blochchain is being a self-propagating, automated entity with little to no development from the users. We are entering a new technological paradigm where average user input counts more than it has done before.
Thank you for being so responsive @ezzy
Steemit indeed needs more people like you.
Appreciate, Piotr
I also feel that the addition of Resource Credits will ultimately provide great flexibility into the economics of the ecosystem. As more new users join at an accelerated rate with the new account creation option, communities will support the new users which will increase activity and retention which will also get a boost when Smart Media Tokens (SMTs) are launched next year. As the ecosystem continues to expand, the demand for the underlying tokens will also demonstrate demand which will benefit the early adopters still on boarding today.
Totally, bud. There is a much bigger picture at play here. :)
Users of steemit must not powerdown though because it is also for their good. They can just use SBDs to cash out which is one good aspect of steemit. @ezzy
Yep. I feel there are other less "damaging" ways to get your funds out, should you have to. :)
@ezzy What a terrific post. The Massed still have not got here yet and most people that are here don't yet understand that #steemwillmakeyourich
Only a matter of time, buddy. :)
This post is supported by $4.19 @tipU upvote funded by @cardboard :)
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Yes.I think it has been a huge success....it took a few days to recharge our batteries but it is better than ever
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Agreed. :)
Wouldn't RCs limit the usability of steem apps. I mean it will make everything a sort of pay to play or use type of thing. It just seems hard for me to see SMTs grow with this change. I'll be waiting to look at SMT implementation but there's a possibility that there's lots of hiccups along the way.
It will be fine, buddy. Only a little extra SP is required in your account to interact however you wish. The rewards far outweigh the costs, of which there are almost none.