Put our trust in steem.

in #steemhost6 years ago


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The way that steemhost is set up, people purchase advertising using steem and visitors and the hosts each receive 1/3. There is one obvious flaw to this - visitors and hosts need to trust that @steemhost01 doesn't cancel all the distributions. Since we are in early stages this risk is infinitesimal. As time goes on this risk increases ... not from me but from bad actors. A few years ago a woman won about 60 million dollars in a lottery. The first thing she bought was a million dollar fence to go around her property.

Conceivable any of the whales need to worry about this, but also it is a concern for individuals as well. On a personal level I would be concerned that someone might steal my personal credentials and power down my steem power. Of course it would be the slowest robbery ever (13 weeks) but robbers are not just people, governments can be another group of robbers to contend with. Imagine if some government arrested @ned and other whales and confiscated their accounts ... immediately powering down and cashing out. This would have a negative effect on the steem ecology which might be insuperable.

My suggestion is to create an option for Steem Power. Right now you can Power Up, I am suggesting a second option which would be to Power Up into a Trust. When Steem is moved into Trust. This means that you can continue to delegate that steem power but no longer power it down. This would satisfy the condition that I consider problematic with steemhost but also make actions by bad actors less likely. Even if a government arrested @ned, the worst they could do would be to remove all his delegations. While this will affect the value of posts for a number of people ... it would have an immediate effect of increasing the value of steem. It would be the equivalent of burning the steem. As it is on the blockchain, people would see immediately if something untoward was happening with future delegations.

The other aspect of putting steem power into trust would be something to discuss with lawyers when it comes to inheritance. Steem power put in trust can be delegated to offspring and is only worthwhile if it is used. Steem power can be delegated to others who pay a "commission". In some cases it is 18 percent ... which is a pretty good return on investment.

Anyway I hope this will give people some discussion points. Remember to visit me at https://steemhost.com/@dwarrilow2002

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I still don't really get how this would work then.. I was glad to see this post :) but then I don't understand how one could be able to steal the funds from one another because you don't have any keys right? Thanks for your help anyways.. As you just saw (unless you have me on autovote lol) I finally (after days again hehe) published a new post, stress got to me a lot last days.. Not to be rude but I just didn't have the energy to do a lot sorry hehe

You are right, I did put you on autovote: https://steemvoter.com/

Currently there are only about 12 advertisements active on steemhost and 50 hosts. Most have not signed up to receive any above the ones I've added people to ... Welcome to Steemhost, Advertising on Steemhost. Consequently it works out that 1 in 10 visits are being rewarded. This will mean your visitors will get rewarded for seeing and clicking the banner ads. This also means that you will receive the reward as a host. In order for you to receive this reward, you need visitors to your steemhost page (same goes with @AllDutchCreation)
I neglected to mention that @AllDutchCreation site is one of the ones that will earn 1 steem if people Click on the ad.

I describe it in this article from Monday

I hope that you will consider add Visit Me at Steemhost.com/@anouk.nox to your signature.

Great Information thanks for sharing.

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