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RE: Vlog 410: The EIP is on my mind a lot.

in #dtube6 years ago (edited)

First of all, Steem's inflation should be removed for rewarding the content creators and rewarding should be delegated to front-end DApps. DApps can launch their own TOKEN and reward algorithm to discover contents. Current inflation is not keeping up with low demand. If Steem did not have relative high inflation, it would easily sit at top 30 in CMC.

EIP may help a content discovery frontend such as Steemit, but it will kill other business models. Steem should be neutral to any content discovery models and DApp/business friendly. It should help DApps to be built and make their own rewarding algos. Steem should be removed from such controversial or unpredictable outcomes. Let SMTs handle it according to DApps need.

Steem's Inflation should go to protocol developments, witness compensation and PoS interest (2-3% vs current 8.5%). Rewarding content creators (in Steemit) should be done with SMTs. STINC should launch their own SMT, share profit from ads with celebrity creators by SMTs and experiment with all kinds of EIPs.

Steem Investors will still earn TOKENs through RC/SP delegations. @steemhunt, @actifit, @dlike is already showing a good examples. Creators and DApps will figure out optimum synergy with a token to distribute. EIP will make Steemit relevant, but other DApp models to be inconvenient.

Bidbots are not evils. It is an alternative to the advertisements. They have their own business model. They can find their own front-end DApp with TOKEN where they can succeed or thrive. Competition within front-ends with SMTs will spur innovations.

All the front-end DApps can try their own SMTs with different distribution technique. Finding a sweet algorithms to rewarding the best content is more than rocket science. A former founder, @dan is bragging that he can fix it, I totally disagree. It needs lots of trials and errors and should be the realm of DApps.

DApps with SMTs can try different algos. @steemhunt, @actifit, @dlike and others are already experimenting. Steem's inflation and broken rewarding is helping its price.