Replying to some comment with all “your” suggestions.
- Ability to negate voting power -> if implemented in the form described in your GitHub issue, this provides opportunity cost on individual bases. Because of the opportunity costs, this proposal if implemented would resultingly be flatly obtuse from a game theory perspective. There are merits for additional controls over rewards distributions but this specific negating control mechanism is inconsiderate of second order effects and overall obtuse compared to its stated purpose. Instead, new rewards pool controls are best experimented on in new token ecosystems. Thats why SMTs, naturally. Which you laughably told me were a bad idea, “because there can only be one global currency”, twice.
- n^2 -> talk about “stealing”. n^2 can only seem “fair” when you’re sitting on top of the STEEM rich list, like you are. Now that STEEM rewards are linear there is no more stealing, finally. But keep in mind, STEEM is only one form of a distribution game, and truelly it is an opt in system, which is itself another premise from which to argue around these topics.
- Identity as a consensus for distributions is my idea (page 53 Smart Media Token Whitepaper). It will be implemented in SMTs via Oracles.
You told me twice, in 2016 and 2017, SMTs were a bad idea, “because there can only be one global currency”, before going off to market multi currencies in your new project. Now you’re back to propose microscopic changes to the STEEM rewards contract. There is no need for forcing these proposals in the face of SMTs.
Contributed from my iPhone. Please excuse grammatical mistakes and errors.
Hi ned,
I told you 2 months ago, that the Steem Economic System is currently completly broken
And by the way, where is the app your "CTO" promised for December?
Don't get me wrong. I know that IT projects are usually not delivered in time. But as Investor into STEEM I expect that late deliveries are communicated.
Please update the timeline for the major milestones of your roadmap (currently SMT, APP, Communities) for instance on a monthly basis. That would increase the trust in your team massively.
Hes is not the CTO, remember ?
ned specified that he is a Private Contractor, rofl and they have no control over him or his actions.
That's ridiculous. If that were true why does steemit inc pay him? Obviously private contractors are under the control of those who contracted them in order to get something done. Why else would a contractor be hired?
Just clarifying, you know I am referring to Sneak right?
The way you two interact @dan & @ned with each other is exactly the same way as to how a divorce couple interacts with each other after being married for more than 10 years 😂😂😂
They also have at least two common children - Steem and Steemit 😂
What is the number one parenting advice? Never argue with your (ex)spouse in front of children. Both parents will always lose a little bit of respect and authority in the eyes of a child.
Children usually loves both of parents - they are feeling uncomfortable seeing own parents fighting.
Steem and Steemit are their common children and they both love and cherish them
However the problem is about accepting their step-children: SMT, EOS, BTS.. which they need to keep calm and then they can reconsider about their re-marriage..
Their common children needs both parents.. but that is only possible when each can accept the younger step-children :P
not sure if Bitshares even cares about Ned or Dan, actually. Parents, we're ok, just feel free to act as you wish ;)))
they could just write an email or call, after working together they should have private means of contacting each other...
Sadly the "vibe" i am getting from Dan is that he is "dissing" his former project Steem to promote his new one...
Ned, love your work. Please ignore all the whinging replies. I don't think SBD and STEEM would be where they are now with out prospect of SMTs. There are now tons of original content creators earning a living here, not just a select few, and we thank you for that.
I am utterly perplexed as to why anyone is unhappy right now. Work on your blog, work on your network -> make ridiculous money. What's the problem? If you can't make money here with SBD at $9, the problem isn't Steem.
The SMT effect:
I second that.
Somehow you are correct! What I am worrying about is the fact that they are printing additional more SBD almost everyday to make the price stabilizes back to $1 USD.
Personally, I am from South East Asia and I can quit my day job and focus more on Steem if I get a gross total amount of $5 per day on multiple posts. But what if the SBD price gets back to normal? It's going to be a hard time earning a living.
The discussion is about building a better community long-term, not about making more money short-term.
Market is in a bull run right now so posts are more profitable currently but overall profitability doesn't imply fairness in reward pool distribution.
Working on your blog/network may give you ridiculous amounts of money but self-voting gives you even more, and some folks think that is a problem.
SP renting and self-voting are issues that doesn't go away with a high coin price, in fact they are amplified.
@ned, although I respect your position, let me say to you as I said below you @dan
At the end of the day I thought steemit was self governed, which means users decide. Its a pity that negative posts and comments get more traction than positive ones.
@ned engaging with negativity will lead to more negativity. However if you could engage with the positive stories on Steemit you could make so much more of a difference
https://steemit.com/gifteconomy/@stellabelle/why-no-one-pays-attention-to-the-gift-economy-and-why-they-look-at-violent-stuff-instead
There is really no improvement needed other than proper use of steem inc's SP. Misterdelegation has enough SP to empower the community against large stackholders using their SP and not following community standards.
I am actually a bit glad that you came out of twitter to post this here.
How is consensus reached for what community standards are and where are community standards posted?
Steemcleaners community standards is pretty much accepted by all the big guys. Try violating that and they will go after you. Haejin wasn't shut down because what he did didn't explicitly constitute violation of anti abuse community standards.
Interesting that you can make almost $500 by by commenting on your OWN platform @ned...
Seems like THIS was the way you all could've "Paid" yourselves for building SteemIt, instead of Pilfering the platform right out of the gate. The Pilfering of the economy is the only real problem here, not the way the voting works. When you imbalanced the economy in this way, you made a very powerful Plutocracy... what did you expect would happen?
~Frank
You mean stake weighted voting is causing an imbalance? I do agree. It’s like scrabble where every time you create a word you get to play the next turn with more letters (than the seven letters you used to be permitted per turn). New players show up but can never catch those who began earlier who win more and more easily. Unlike n^2, players in linear at least don’t win more and more easily. Nevertheless, to counter this “imbalance” I am working on identity driven Oracles in SMTs to enable token systems that are analogous to scrabble games where everyone begins on equal footing, has the same number of letters to play each turn and the game ends/starts over predictably.
Contributed from my iPhone. Please excuse grammatical mistakes and errors.
Nice strategy @ned. Explore the promise of the original sandbox through blueprints of autonomous extensions (SMT) without unduly interfering with the status quo - a good tack.
Sounds good! Where is the official website for SMT? I am wondering if there is some kind of airdrops.
https://smt.steem.io/
I don’t know if you’re already familiar with Steemify but reading in your comment, your contribution coming from an iPhone, perhaps you might be interested in a dedicated notification app for iPhone users only called Steemify, we as @blockbrothers build this app. Just download it for free and never miss out on any notification anymore!
Every your comment = one $iPhone.
I am only in my infancy of understanding crypto and steemit, but I am learning more and more daily, thank you for contributing!
I think preventing large stakeholders from being able to "win" easily is much less critical than making sure they only win when the whole community wins. A longer vesting schedule might help with that, and I favor curation penalties as well so that regularly voting against strong stakeholder quality consensus has a cost.
Whether people mainly vote for quality or just to reward themselves will determine whether Steem devolves into a Ponzi scheme or not, and I see that as the largest risk for the network.
Once too much stake is held by abusive voters, the only way to recover will be forking them out. The sooner we can stop abuse from being profitable the less likely that is to be necessary.
I don’t know much about corporations....Question, how many companies allow investors decide how it’s going to operate?
Short answer: Not many, but it depends on how united and vocal the investors are.
I always felt the market was the driver, unless there is a monopoly...I am still learning about economic structures, business and different forms of governments. Steemit has driven me to dig deeper. I've read a great deal since 2007, especially different forms of abusive government structures. Thank you @glenabrethsen.
Perhaps it's time to have a meeting of the minds for the sake of the continuity of this platform and its underlying blockchain. EOS trades over $300M daily and is valued at over $5B - Dan clearly has done something right there. Since his post, steem is up over $1 and its 24 hour trading volume is approaching $20M on CoinMarketCap - over 3X its daily average of around $6M seen over the past few weeks. It's currently trading at just under $4.
Steem does have the potential to be among the top cryptocurrencies but it necessitates self-introspection that ultimately leads to constructive improvements for the benefit of all. As I see it, the price action over the past 24 hours suggests the crypto market was seeking this open discussion and it's an important one to have for rejuvenating confidence, whatever the outcome.
If Steve Jobs and Bill Gates could resolve their differences, maybe both of you can too.
EOS just did a crowd sale at the right time. It hasn't even launched yet so we cannot know whether it does something right.
Thanks for the comment. I brought up EOS because the market has clearly voted in favor of it in light of its considerably fast rise in the crypto space to a valuation of over $5B at the time of this post. It has achieved this status in the last few months of this year. Steem has been around since 2016 and is just now finally trading above its all time highs from then.
I understand that blockchain development is still up and coming and we will not realize the full extent or potential of this technology for perhaps many years to come. Nonetheless, I think it is fair to encourage the cofounders of steem and steemit to reconcile for the sake of the community at large. Dan clearly has some insights to offer that the market reacted positively too, in light of steem's value appreciation over the last 24 hours since his post.
This discussion is needed and in my opinion should not spiral down to a "he said, she said" commentary about past disagreements amongst whales, but rather an acknowledgement of what is and isn't being done right and how steemit can ultimately improve for the better moving forward.
Well, steem is now decisively trading above its previous all time highs from 2016, currently around $5 per Coinmarketcap. Considering the timing and extent of bullish momentum, I have a hard time believing that Dan's post and the resulting discussion weren't the precursors for this renewed buying interest to kick off 2018. The market seems to be in favor of an open dialogue towards improving steemit and by association steem's perception within the crypto space. Steem was trading around $3 when Dan published his comments regarding governance yesterday and the 24 hour trading volume is now over $40M.
I always imagined "non-linear rewards" to mean sqrt(n) and thought n^2 was a typo.
Have you considered the sqrt(n) approach? It would mean the influence of steam power would have diminishing growth as n increases.
Exactly, n^2 (n squared) doesn't make sense? Or is n the amount of SP or not?
Flagging because I do not feel this comment is worth $550. Just a bit of a balancing act.