RE: chainBB v0.3.0 - social feed, following, and forum subscriptions

[sadekj]

Update: I have just read the FAQ and found the answers to some of my questions. They are in summary:

1- Funding: not mentioned.
Making money: the ChainBB will take 15% of the rewards of every post created on it!

The chainBB beta forums located at beta.chainbb.com are running under the following rewards model: 60% Author, 25% Curators, 15% chainBB

That is too much for me! Anything more than 5% is a deal breaker

2- No guarantee of safety is mentioned. You need to trust them. But the good thing is that they only require your Posting Private key. This key is only used for posting actions. It can not be used for wallet actions. Moreover, they do NOT store the key. It is stored on your browser cache.

Comments

[jesta]

5% wouldn't be enough to pay my cost of living, let alone an entire team to really push this project forward. 10% is the number I am aiming for, which could cover me and probably a few part time contractors. I went up 5% more to 15% in advance so I had 5% wiggle room and some space to allocate funds to community owners without having to hike the rate in the future.

If I had a mountain of cash like steemit.com had, I wouldn't be using this feature at all. Unfortunately though, I don't have a ton of money, just some time and skills to try and make this happen. I know I already responded to your other post, but figured I'd leave a couple more thoughts here.

[sadekj]

Thank you for the extra clarification.

How did you decide that 5% is too low? How many articles do you expect to be written on your platform? It is not the percentage only that matters. Volume is much more important.
I think if you lower the %, you will get a much higher volume and your income will be much more.

My 2 cents, wishing you the best of luck.

[jesta]

You're absolutely right, the volume is what matters the most.

Here's some assumptions and goals I based the calculations on:

• An initial milestone is to capture 10% of the overall network traffic (10% of posts originating from chainBB, currently hovering around 1%)
• 15% of those rewards split off to chainBB (with a portion of that going to community owners, let's say 5% for this example).
• Pre-HF19 the rewards pool was ~50k/day (which is when this math was done).

So if we say 10% of daily rewards (50k * 10% = ~5k/day/value) is what the users are generating via chainBB, and 10% of that value goes to chainBB via beneficiaries, that's around 5k * 10% = ~500/day/value that chainBB can generate. 500/day is roughly 182k/year in earnings, which is enough for:

• 1 (maybe 2) full time developers
• 2-3 small contract developers/designers
• Hosting Costs

Looking at 5% in this equation, you can basically cut it all in half. So 5% rewards @ 10% of network traffic would be ~90k/year, which would include a pretty low developer salary after hosting costs and some contract work are removed.

All of this thought was pre-hf19 (when distribution was stable) and assuming STEEM is approximately $1.5. Currently after HF19 the rewards pool is unstable and I'm waiting for it to become stable before I rework the math - it's fluctuating pretty wildly right now.

[sadekj]

Your calculations are reasonable. But you should take some factors into consideration:

1 - Steem is expanding daily and the number of users and posts is booming and expected to continue like that.
2 - After hf19, the rewards has increased dramatically.

Best of luck.

[jesta]

Both are true currently, but not guarantee's for the future.

1. This may cause me to relook at numbers, but it has to happen first. The same also applies in a situation where STEEM is now $5 or $50.
2. I have concerns with how this is playing out, the rewards pool is actually draining at a significant pace and I don't think the increased rewards we're seeing is going to last for much longer. Currently we're seeing 150k+ days of payouts, and the rewards pool itself has decreased by approximately 40% in the last week (from 1.8mm STEEM to 1.1mm STEEM today). There's still only ~50-60k being added daily to that pool, so I don't think it's going to be much higher than that in a couple weeks.

Thanks for engaging me on these topics - they're important discussions and I really appreciate the thought you're putting forth towards this!

[johnbakare]

clear on that wish he gets it and work true