RE: Why Buy STEEM? And Why Buy STEEM!
What are the things, right now, standing between you buying more STEEM?
1 - Steemit, Inc.
Their track record and the amount of stake that they hold. Their forced development plans and their gatekeeping of protocol changes...even the notion that any ideas ought to be “pitched” to them before anything else can happen.
2 - Steem Witnesses
The fact that so many of the witnesses have little to no understanding of Steem protocols and the social/behavioral and economic theories behind them. The fact that most witnesses either don’t understand or don’t care about managing the two tokens, STEEM and SBD. The fact that so many witnesses have zero respect for code review or feedback and irresponsibly move to the next version of Steem because Inc. tells them it’s all good.
3 - Lack of Vision
Let’s face it...most of the “big developments” in our ecosystem revolve around voting and delegation schemes. There is almost no actual business development and commerce taking place outside of that. It’s as if the only thing that matters is how much of the rewards pool one can capture. That’s the extent of most of the grand ideas around here for “apps.” It’s either voting and delegation schemes or yet another interface where we can see posts that can be seen on Steemit.com. If Steem is to legitimately grow, it needs much better use cases outside of posting and voting.
4 - The Crypto Ecosystem as a Whole
Too much noise. Too much moronic attacking of legitimate projects by popular “maximalists.” Too many scams. Not enough actual innovators and actual investors. Seems to me that most “investment” across different tokens comes from the same people/organizations that have already been in crypto and just recycle profits...a lot of pump-and-dumps or other manipulation from a relatively small amount of pockets. And the “mania” is hard to predict. It could resume at any time...and it could have peaked last winter.
Conclusion
Far too much risk for the potential rewards. I like the Steem blockchain’s capabilities, but everything surrounding it pushes it into the “too risky to invest” category for me. If we’re looking for investors, this is something that needs to be addressed at some point. It doesn’t matter how great the potential may be. If the risks are just as great or greater, investment will be minimal.
All that being said - I’m still not a seller at this point.
There is currently 30 million US$'s worth of Steem and SBD sitting in the Bittrex account, 8 million in the Poloniex account, and so on. I wonder if people would keep that Steem as Steem Power in their own wallets here if there were no power down period and all Steem would be immediately available for trading when wanted.
I would. I sold most of my modest amount of Steem when prices were high; of course I did, I was here to make useable money after all, and not to lock away Steem and look smiling at the amount of SP I had while prices plummeted. I think others who actually use Steem are also hesitant to lock it away for a longer period without much hope of revenue.
What if ...
Just wondering.
i was thinking about something in line with this thinking, but a skew so it's more rewarding for the long term SP holder and yet give liquidity and freedom for all other token holder
Let me give you an example:
Power down should be just 3 days, then we don't need savings, all savins is powerup
Let those who Vest earn 20% of the reward pool....but let the vesting accure geometrically to 20% over say 13
weeksor 1 month, or 13daysCuration is dependent upvot vesting of powerup, the longer you powerup (or delegate, many of the top witness who runs bot will hate this....but it really makes sense)
Example for #3....SP start at inflation percentage so ~8% and grows to 100% (of whatever curation reward.....this will radically change behavior if you ask me.....could do a trending post on this but i'm too lazy.....so feel free to chat me up and I'll give you the economic details, there is a ton of benefits....including forcing (by temptation) the whales to liquidate at higher prices bringing greater decentralization to ownership, disrupting bot payout, increasing curation reward for long term curators, improving returning value to proof of brain, basically everyone will be powering up, averaging out the % of powerup will out way almost every other stake/vested coin if we go this route, etc,etc.
Yeah, but you and I never come up with solutions, as you very well know by now. We never make suggestions of any kind.
Oh, yeah. I forgot.