RE: Are Content Creators On Steem Overpaid?
No, compared to add revenue sharing platform, content providers on STEEM are greatly under paid. The ones that are over paid on STEEM are passive stake holders who delegate their stake to false curation services like bid bots.
One thing very few people in influential positions seem to realize about STEEM is that STEEM as a content platform derives its intrinsic value from the quality and reach of its content, and that it competes with add revenue sharing platforms for top content creators, and guess what? STEEM is losing big time and failing to onboard even a single top content creator.
Instead the EIP is introduced giving less perspective for growth even for talented new content creation accounts.
Seriously, claiming content creators on STEEM are over paid while onboarding content creators is the huge failure it is and passive stake holders are draining inflationary sources with their (often ninja-mined) stake without adding any intrinsic value to the platform is the stupidest notion conceivable.
Basically where content is concerned, you get what you pay for. Pay peanuts, get monkeys. Want better content, start bleeding competing with add revenue sharing platforms and pull in top content providers that would currently have to be out of their mind to switch platforms in favour of STEEM.
I believe that if STEEM were to find a way to create a blockchain wide blockchain level add revenue sharing economic foundation that balances well with (and at least partially funds) curation, it might reduce inflation to a small fraction of its current value and as such girder rigidify the coin, as well as grow the platform with top of the line content.
I agree on the necessity of ad revenue generation. That's something Steemit Inc as the owner of Steemit has finally woken up to after Eli Powell took the helm at Steemit Inc. Other front ends should boost their income from ads, too.
There are ways around the seven day payout window. The automatic addition of an active comment every week is an obvious route to take. I think there is a service on Steem for just that.
Voice is an interesting experiment that can teach us a lot about how to move forward. And now that we have Steem-Engine tokens, it's up to each community to release a token of their own.
The economy isn't helped by Steemit Inc making money from advertising. It would be helped by top content providers being able to make money from advertising. It would be helped by an advertising economy that funds part of the reward pool. Maybe something like 60% burn, 30% add revenue sharing (paid out in SP), 10% DApp owner (Steemit, Bussy, etc).
Of course it is! Steemit Inc does not want to sell STEEM at the current bottom price like they were forced to before they introduced ads on Steemit. Less selling pressure translates into a higher price. Elementary.
Such a burn rate would only consolidate the still very concentrated ownership of Steem Power. Steem Power must be distributed more widely for this chain to be secure and truly decentralized.
You are contradicting yourself. Availability of cheap STEEM (Steemit Inc selling) allows more people to buy themselves to Dolphin level or above, thus distributing STEEM power.
An advertising economy that burns STEEM helps to reduce inflation, making STEEM fundamentally more stable and thus reducing the need for passive stake holders to power up and delegate to the bid bots (and other false curation initiatives) that are currently crippling the STEEM content economy.
No economy was ever helped by isolisionism.
I'm not logically contradicting myself because I never said I wanted a high price. I did say Steem must be distributed wider. You said it was bad for the economy (price?) for Steemit Inc to gain advertising revenue. To that, I answered that if a high price is a goal, then Steemit Inc not having to sell so much STEEM is a good thing.
Burning STEEM would reduce inflation if nothing else changed. But I'm not so sure about price stability.
Yes, high inflation causes passive stake holders to need to use whatever means necessary to increase their stake to avoid losses in fiat terms.
What concerns me more than anything is decentralizing the distribution. A content economy could be run using PAL tokens, for example, or any other tokens that can and have been created. The token economy is just getting started and will no doubt explode this year.