You are viewing a single comment's thread from:

RE: A declaration of principles at 200 posts.

in #steem6 years ago

Thank you for this TC! Though the motivation for it may be for your own clarity and consistency of purpose, this really went in depth on some things I have just started becoming aware of like; how the development process works and how it could be better, the inner workings of the reward system and the potential longterm benefits of automation.

One thing I really agreed with is the idea of a non-linear curve for resource credits. Or even rewards in my opinion. I know there is a fine line between keeping the broad user base happy and scaring away investors and the we all love to talk about this meritocracy stuff, but one thing I didn’t learn in Econ 101 was about the law of increasing returns.
They like to tell you that for various reasons, returns on many investments decrease when scaled but there is also an increasing curve when one hits a certain threshold or diversifies investments.

For instance if one has enough money to invest in a low risk low return investment and can live off a fraction of those returns and reinvest the rest, that person can make a lot more off their investment than someone who must use all of the returns for living expenses and never reinvest.

Thats obviously simplified and I’m no economist (is anyone really?) but it seems like a system that dampens that feedback loop to some extent would have a much more equitable distribution of wealth.

Also any movement toward more transparency seems like the best course of action in this new community driven model that we are experimenting with and is kind of the point really. Decentralization is about self government instead of the fascism the world has lived with as a matter of course for so long. Ths can’t take place without knowledge and the beautiful thing about the open source movement is supposed to be that when given information, thee wisdom of the crowd can be activated and benefited from.

I also learned from this how much about this platform I have to learn ;)

Rock on man, great knowledge bomb and framework for evaluating this platform’s current state.

Posted using Partiko iOS

Sort:  

one thing I didn’t learn in Econ 101 was about the law of increasing returns

Hah! Yeah, invest in small cap Steem users for maximum profit potential. Wait, that actually is my strategy.

Ah the extra long game.

Posted using Partiko iOS

Coin Marketplace

STEEM 0.29
TRX 0.12
JST 0.034
BTC 63755.07
ETH 3328.24
USDT 1.00
SBD 3.91