Now that RC delegation is getting worked out I am trying to work out what that actually means for later on when SMTs arrive. What I think it means is that there can be pools of resource credits created that will be able to be used for account creation as well as user bandwidth for usage which means other than the Steem bought for SMT creation, Steem won't be needed by the SMTs. But, there was mention a long time ago of upvoting being possible using SMTs and Steem at the same time which is a bit exciting.
I am not sure about this at all but does that mean that a new user can enter onto an SMT platform to earn the SMT as the platform allows but a Steem Holder can use the platform and distribute both Steem and the SMT? That could make Steem holders some kind of power user that can distribute across multiple Steem platforms and earn SMTs plus Steem through curation as well as put more distribution of Steem much wider across the ecosystem.
HUNT Orca which might have no value at all once the SMTs are released but, I find it interesting.I took advantage of @Steemhunt's airdrop a few months ago and since then have been curating on their platform pretty much every day a little. Over time, this has earned me the curation in Steem plus, hunt tokens for supporting their user base and now I am a
no idea who the actual posters generally are that I am distributing Steem and HUNT to, and I am only deciding on what is presented. In return, I also get a some distribution of HUNT token that will later be converted to an SMT as well as the normal curation.And, this is why I found it interesting as I have used it as a consumer of the platform, not a contributor. I wanted to see what it would be like to use a platform where I am not interested in the users at all but I pick it solely on content provided. Yes, I have a few friends who post through @steemhunt I support too but for the most part I look for some product I find interesting and give it a little bump. This means that I have
Life as a consumer on SMTs
I wanted to trial this and see what life is like for a consumer who has Steem Power to earn SMTs with and if this is how it will work later, then I may still be able to earn Steem curation while also earning SMT curation. If the SMT ends up being worth something, it means that there is more value in Steem curation return alone which means there is more value in keeping SP active and using it to vote manually.
SMTs are able to set up their own rules on how their platform operates of course, which means that it could be possible to limit vote selling/buying through their platform rule bases which means that potentially, the benefits of having the SMT on top could be only available to those who play by the rules. How they might do this in practice I am not technical enough to guess at but, it should be approachable at least. I think that this gives SMT platforms a lot of power to affect behaviors of their user base and can encourage a much healthier distribution culture from the get go.
Still distributing
If those same users have been able to power some up, they can move over to another Steem-based platform and start again without having to start from zero. As for me, I will be able to do more of the same somewhere else and aid decentralization of the network.Now, let's say that @Steemhunt fails and their token is worthless. I have still been able to benefit from using Steem to curate and I have still been able to distribute Steem to users.
Perhaps in time I will get tired of posting as often and instead choose to solely curate but more likely, I will have my 'home' platform where I post and enjoy while I travel around the wider Steem ecosystem and curate content I like as a consumer. All the time I am distributing potentially both Steem and whatever SMT the platform I am on happens to have as well as earning some percentage back. By doing this, I am supporting the startup SMTs and their user base simultaneously without them having to have a large initial outlay.
Options and variables
Between all of this there are going to be a whole range of other services that popup to support the Steem ecosystem along the way as well as markets where people will be able to trade on SMT for another SMT. This also means that the platforms are going to have to individually do a better job of servicing their clientele as there is a growing list of attention grabbing platforms and limited curation SP to go around. Of course, they are distributing their SMT also but for them to have value, they need their user base to value it.
The idea that SMTs are going to send Steem to the moon is not necessarily true but, it could be if a few of them are able to make a significant impact on the attention economies and, they don't have to be Steem born. The thing with SMTs is that it is a tokenized layer that can be implemented relatively easily across any content platform to reward a user base. If an established large platform wants to trial tokenization, SMTs are a suitable model for them to use. None of this guarantees Steem through the stratosphere though.
I think that Steem's strength in the future is going to be its versatility at every layer of the ecosystem no matter where one enters from. For those who are interested in the investing side of the platform there are going to be many, many ways to create revenue Streams, those who are looking to earn via sweat equity are going to have a myriad choices and consumers can happily enjoy any of it.
I have started claiming discounted account creation credits because even though I am unsure how I will use them later on, I think that it is good if those who can, hold some if they can. The current cost is 9.36MM RC mana for one account which is ~4500 Steem but this seems to fluctuate up and down (I don't know why). I can claim ~2 a day. What I figure is that at some point, a community might need accounts created for various reasons and this could be used to support them. For now, I am going to store them only until I have more information available on how best to use them.
Steem a hold coin?
I am so far pretty happy with the possibilities of RCs but obviously foggy on how they are going to combine with SMTs and the Dapps. I am pretty sure that the RCs give the possibility of bandwidth to them without large Steem outlays but will encourage Steem distribution through curation much wider than it is now and, for more effective returns. This is necessary because as said previously, RCs are only available through powered up (active) Steem which means distribution and powering up of Steem still needs to be encouraged. This means RCs will have a large role to play in the distribution process and those who take part in offering RCs into the pools will in time see value flow back that has made the holding worthwhile.
What the overarching goal for Steem as a content distribution blockchain is is decentralization and a replacing of what is currently centralized with what is not. Its core feature too do this is the ability to put value on the content and distribute it through various ways across the network rather than funneling it to a corporation at the top. The more it distributes, the more that onboard, the more that become providers and consumers, the more value the chain holds and the more valuable all users are.
What could be the case is that Steem becomes a hold coin of sorts that is used as a distributor of SMTs instead of as the main trading currency.Its utility in its distributive power of other coins and RC creation. This would be true if a great deal of RCs are needed in particular and would drive the price of Steem and RCs high while more and more are earning SMTs on the layer above. This would also give a decent use case for keeping SBDs in the mix as the stable trading coin but these things are far outside my scope of understanding.
A little bit of love
The reason I write these posts is that I am trying to work out pictures of how things might come together based on the very limited information I hold as it helps me develop a view which I can then change as new information comes to light. Often enough, I have misunderstood some area of it which I would not know I misunderstood until I have put it out there and gotten some feedback.
There is a lot of complexity at this level and a lot of uncertainty but what is going to be interesting in the future is that new users need not see any of it as they will be introduced to clean, polished sites where they will just come on and start using and earning an SMT by hopefully doing something they love.
Wouldn't it be an awesome world if at least some part of our earning could always come through doing something we love in communities that love what we do?
Taraz
[ a Steem original ]
Take everything in life with a grain of salt.
The RC thing is rather simple: users can delegate to a “pool”, the entity which controls the pool can use that RC to delegate it to its users.
So when new signups start they have more than 6m RC without requiring the entity to also delegate SP for the signup process. Alternatively the whole pool for the entity could be used by everyone submitting through, but I thought there was “delegate from pool”.
Yes but what effect it all has on all the other things is what I am wondering.
They’re just a different form of bandwidth, and possibly a cheaper one.
The pools concept (as far as we can guess) will allow bApps to on-board at much cheaper cost than before. And possibly to completely configure their own matrix for amount of RC they delegate to their users.
At the same time bApps may need large amounts of RC to claim discounted accounts, especially if you think about medium sized media outlets who may want to develop and tokenize on Steem. If they can not onboard 1k users in a reasonable amount of time, and at not too high cost, Steem the bc becomes premium rather than freemium.
Then, next, take for example the Guardian or heck, a techblog like Gizmodo. They have thousands of commenters every day, many of which are very active. For SMTs to succeeds and spread, bApps need to be able to bring those users over, without limiting them in their activity. So they will probably be able to distribute RCs based on their own user rep system.
Pools because then the SMT can manage the RC distribution. That can scale, user to user doesn’t scale. And it totally leaves SP/investment by users off the table. So freemium is maintained and no stakeholder needs to limit their own earnings.
It’s a toll tax mechanism, not earnings related.
Yep on the onboarding speed which is why they should all be taking credits now for storage.
Is it possible to have the pool delegated only to those logged in to save idle resources?
AFAIK no specifics are known yet about whether there will be a colldown period (like with SP delegations) but there shouldn’t be since it’s ‘used or available RC’.
I don’t see why a SMT couldn’t write an algo which controls that distribution. Personally I would write it based on activity (most active ones get more, especially if they get upvoted [within SMT]). The different use cases in the SMT whitepaper specifically mention comments and forums, activity is a factor for that type of users.
But I’m not sure whether it will be possible to do it 24/7 dynamically for every single user. Technically it could be done but it depends the restrictions which we don’t yet know.
I think this is already starting with upvotes...
@actifit recently modified it's upvotes so you get a larger vote % if you have a larger delegation/ more tokens.
Same with @steemhunt I think - nb the value of their upvote is massive - >5* actifit's for the same delegation. Although that may be 'xos I use it less.
I just feel a bit sorry for the poor fat people. Steem's gonna do nothing for their self esteem.
There's a pun there I'm sure.
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lol.just wait til the SJWs get wind.
Lol.
What are SJWs ?
Steem Jerry Wannabes?
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Social Justice warriors... :D
Oh fair enough!
I thought you were referring to the Banfield.
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Steemhunt doesn’t look at delegation for upvote value. It’s not a pay for vote service.
The upvote is defined by activity based hunter level (score). While SP plays a role in that, it is possible to achieve highest level with relatively low Sp. delegation is not a factor.
Delegators do receive their relative share from 5% of the beneficiary rewards and also from the weekly airdrop share for delegation.
OK I was wondering about that. Thanks for the clarification. You've saved me some digging!
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So for new steemians/low SP steemians, currently Steemhunt is one of the easiest ways to grow both reputation and stake, as well as earnings.
I did a test with a very small alt account (5SP, rep 34) and in 20 days I had made around 20STEEM and 20 SP. From scratch.
I did not post at ideal times even or use any (insider) knowledge to increase possible hunt score. Tried to keep the experiment as clean as possible.
In the second month the earnings would have doubled because hunter level 2 would have been guaranteed. At the same time reputation also goes up so given few good hunts level 3 would even have been imaginable.
Beyond that it requires higher rep, stake or some really top scoring hunts for very low SP accounts. But only dtube would potentially offer better month over month rewards for new and daily posting users at this point.
And Musing, but that requires more work.
Yes it's good. I need to do more of it.
It's just a matter of time. Now I have to to Argos and buy a basics kettle and toaster set for my new house.
Unfortunately I don't think either of those has much chance of being approved on steemhunt!
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Most likely they won’t because Argos is an ecommerce platform and most of the products they sell are not manufactured by themselves. :P
De-listed because of posting guidelines, section 3: invalid product link.
I think so too. There is virtually something of interest for every content creator/passive consumer through the numerous mediums
The versaotility can only happen at one level. Luckily Steem is a base level blockchain and the SMT platform barely enforced anything.
So any SMT can not only develop their own rewards mechanics but even don’t need to use that and could even build merely on steem for its speed.
Steem is a protocol. Not what most think.
Let's see where it all leads.
Interesting times really. Not really given all of these that much thought to be honest but I wonder how it will all work hand in hand
I am unsure obviously as there is so many moving parts at the moment in my opinion and it is going to depend on how the devs implement the RC pools and innovate for SMTs.
One of the best things that can come from SMTs is the ability to have dApps with clear vision and the ability to share it.
When it comes to Steem as a whole, the rewards and vision are confusing, and the lack of communication is frustrating as can be.
I wish we could freeze the whole thing until SMTs as I am having trouble with motivation under the current conditions.
If the RC market is powerful, maybe I can just ignore the site for a bit. :)
It is definitely confusing considering the entire ecosystem and the good thing is that new users will hopefully never have to see any of it unless they are interested. Same with all the Steem drama associated.
For me I have so many interest areas that motivation can rise and fall in various areas and I am okay enough. Perhaps that is what you need, a little apace from Steem and some other content?
The dream ;)
The SMT development project is truly the epitome of @ned trying to bring 100,000 entrepreneurs into the ecosystem. It allows ways to engage communities through different interactions that focus on the attention and engagement. These will be rewarded and share with the SMT economy. I think it is brilliant and can demonstrate the true potential of blockchain technology.
I was too happy to claim an account two weeks ago when I had enough SP but the cost has gotten just beyond my reach. I am considering an additional STEEM purchase to get me there... I want to accumulate as well for whatever the future holds!
I use steeminvite.com which has the current price there too. Keep an eye on it because it fluctuates daily it seems and perhaps you can catch it at the right time .
Do SMTs work on a side chain? Or are all actions done on the Steem main chain? I suppose the RC system makes it so that the main chain does not get overloaded. However, it would also mean that potention growth would be limited, since you can't run 1000's of different SMTs putting too much pressure on the blockchain?
The RC system allows for users to interact, but the chain itself should be able to take the load of all the SMTs transactions also. As far as I know, the chain at the moment is at something like 0.07% load.
I upvoted your post.
Keep steeming for a better tomorrow.
@Acknowledgement - God Bless
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It would be nice indeed to make money doing what we love. These are interesting thoughts @tarazkp.
I didn't really understand many things you dropped on the post. Well I am still trying to wrap my head around the RC stuff and though I have an idea of how smt's might operate, I don't even know how they would be like.
If communities are built around a token, it would definitely mean a lot of users of the chain. I read a piece on @sndbox written by @raj808 yesterday and it grabbed my attention.
The gist of the piece is Writcoin, a proposed token for a creative writing community. From what I gathered, the token is meant to support the work of poets and fiction writers on the chain whose posts are mostly ignored as well as enable an access to the traditional literary journals and publishing industry.
Now I do not expect everyone token to be of this nature. There will be some like the Hunt token with a different purpose behind their creation and intended use.
The major idea is that members of a community can get rewards that reflect their contribution to their community as well as their consistent use of any dapps created by and for the community members or not.
Can a token, if popular and in constant demand grow bigger than steem as SBD is presently? Because if it is possible, steem will get relegated to the background and definitely end up as a hold coin.
I just happen to hit your account and scanned a view articles you wrote! Very, very good content and very useful indeed to understand the eco-system of STEEM. I am still a little plankton, but I am learning. I am very much involved with @actifit, an about 2 months old dApp with a Token, called AFIT Token. You get those tokens while using an app (IOS and Android), which monitors your steps and at the end of the day, you are able to upload a post with all the relevant data.
These AFIT Tokens will be converted to SMT, as soon as it is implemented in March next year. It has high potential for the entire fitness-market with a real use-case.
I am not the initiator of this dApp, I am just a little user with this account.
Maybe you could tell me, what you think about this project!
Hi @tarazkp!
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