This week I took a trip on discord, I visited all these steemit communities, and tried to find out what's happening with each. I encourage you to do the same, there are great ideas and great people putting a lot of time and effort to improve steemit and make it a success.
I know we do not have to agree with every idea, but every idea deserves a chance to be explored. The steemit communities on discord are buzzing with activities and discussions.
They say ETH found it's killer app in something that was sitting there all along, tokens. Maybe steemit can find it's killer app as well.
The tokens on ethereum, good or bad, contribute to it's value. So will these steemit communities/projects, like them or hate them, all contribute to steemit value.
When the ETH devs got involved with the DAO the result was a complete disaster, but afterwards tokens without ETH devs involvement, was what made a huge difference.
To make this short, I see all these steemit communities/projects that want to create tokens, and they do that on bitshares right now. How hard is it to allow token creation on steemit? let these projects compete for Steem contributions, not pool rewards and steemit support. We already have token creation on bitshares, we should have the same on steem.
Steemit supporting one project and rejecting another would be equal to the DAO disaster. As that would mean direct involvement. Something that will limit creativity and chances at success.
Sadly what I see now are mostly projects that offer to manipulate voting for a share of the reward pool. Something that is not practical or scalable on the long run. But we should not shut these down, or play favoritism. Every community that formed around steemit does the same thing. This is the result of false guidance and low ambitions.
Ever since it's conception SBD was the perfect example of an ERC20 token, it fights with us to get loose, free itself from our imposed value to it's own speculative value, yet we remain blind to the possibility, and force our rules. We went as far as making conversions undesirable, and forcing people to sell their SBD.
Maybe we should have freed SBD as the payout token for content on steemit, and it's value left as speculative. Maybe we should have more tokens created by communities and set those as payments for each community.
An example would be a video hosting service on steemit, the project would issue tokens trade them for steem and power up the steem to serve as voting power to award more of the same community token. The team behind the token would would approach exchanges and try to list the token with it's own speculative value.
If communities award their own tokens from upvotes then these communities are no longer fighting for the same reward pool.
If the upvote for example awards 25% SP and 75% community tokens. Authors can publish to any community they like, and have rewards in both SP and community tokens.
Of course not every token will be successful, but the reduction in steem rewards and the demand for SP in community creation would create an upward price pressure that would make 25% SP much more valuable. Curation paid 100% in community tokens would limit abuse as each community would strive to make their own token more valuable, it would be in their best interest to police themselves and curb abuse.
Community and token creation should follow certain rules. We can set an amount of SP required to be able to create a community and associated token. So a team with the intention of creating a community token must have a whitepaper and present investors with an economical model of how the token holders will benefit from their efforts.
This is one way the reward pool and abuse prevention will scale. There is an incentive for communities to power up and compete, there is an incentive for authors to join more than one community and compete for different tokens. Communities would compete to attract better content, and create their own financial model.
I know most of this would take time, but I call on steemit to start by making SBD the first test token, make SBD a speculative token, and remove conversion. Change rewards to 25% SP and 75% SBD. The inflation you cut back in steem can be used on the internal market to buy SBD at market value and burn it. That will give SBD enough support until more community tokens are created.
The separation of Steem from reward token/s, might be the answer we are looking for. Communities might present us an opportunity to do just that. Steemit communities with separate rules and payout tokens will create less friction and more opportunities for community leaders to introduce new and fresh ideas.
It was not long ago that steemitsports succeeded in creating a community of sports fans, instead of letting this community flourish and grow, we simply killed it. Why we killed it? because it was "eating at the rewards pool". A term we never stop using, "raping the reward pool", none of us stopped to think that the reward pool might be our problem.
Maybe our reward pool is centralized, it's controlled by a few individuals with their subjective taste of what is good and what is bad. In a communities token format, whales can choose where to invest their SP, what content they think is good. We no longer have to subject authors to a broad judgment as we do now.
Curation rewards in community tokens will force everyone to vote for the community authors that they think are producing the best content. The competition to earn different speculative tokens will reduce friction and free the reward pool to scale.
This would be equal to creating a token economy on the Steemit platform. It will allow various projects/teams to create their own speculative tokens and ask for contributions in steem which would be locked as SP. Another approach would be to compete for delegation that pays in community tokens.
Maybe Bitshares is the killer app for STEEM actually? :)
If we could trade BTC , BCC, and the alt coins in the Internal Market! That would attract a lot of attention to Steemit!
Yes, it's exactly what ought to happen. Also, I was also thinking that all the tokenised projects out there should have a community token in Steem, exchangable. This way, people can earn other tokens just by participating in different communities on the Steem platform. It's a good way to expand public "mining" for projects.
That will surly expand the horizon and make a great next move.
tip!
yessir.. #wangchange ;)
That is a fantastic idea!
I like your disposition. Infact, i admire every project and initiative. I was ask a question yesterday about my view on the same issue and my here:
https://steemit.com/steemit/@surpassinggoogle/putanginamo-don-t-say-that-phrase-if-you-are-steemit-user-in-the-philippines-for-your-reputation-may-go-down-a-notch
and my outlook is similar to yours. It is not easy to innovate things and for me, i really don't look at motive for who i am i to. i admire, i admire the innovators cos they do add value and the addiction to steemit comes from all this and including the hiccups. People who leave are tempted to still wonder what's buzzing on steemit and they simply find themselves back here and are spurred into more mining with minds and further innovation. community and tokens will fix alot. Non-steemians can even come in with their communities and coincidentally i am currently doing just that. Bringing already made visions and communities and looking at how to integrate steemit and steem into it. These are most startups comprising of youths. i had to leave the above post cos though it is in Manila, i was asked questions on my thoughts on almost all the events on steemit within a short span of time, so i think reading my general outlook is relevant.
Here is another one:
https://steemit.com/steemit/@surpassinggoogle/rewardpoolrape-is-an-illusionary-word-nothing-like-that-existed-on-steemit-why-the-trending-steemit-posts-are-really-trending
And one more thing @joseph, i do have two communities but one especially, that you didn't visit and it is called "steemgigs" and it is a beauty and this is the entire vision:
https://steemit.com/growth-projects/@steemgigs/steemit-growth-projects-steemgigs-bringing-the-beauty-of-the-steem-blockchain-and-decentralization-to-the-limelight-using-fun
It has a really broad vision with token intergration in the near future especially when tokens and community starts but for now i have been pushing it manually behind the scenes on the discord. https://discord.gg/wWrnSXK
It does have almost 350 steemians but it is a community where we know the expertise of most steemians and we already can mention one steemian in every industry. with a dev request channel and dev only channel and idea factory, a place for educators etc. we are helping direct steemians into creation of dreams and vision and instill the culture of applying their expertise in being part of history or dreams of others. We are currently using this knowledge of the steemit community to help accomplish steemit growth in the search engines if we can reach 5000 steemgigs posts and by means of the action of steemgiggers who innovate more; e.g steemit.com sponsored woodmade library has been built due to a steemgig and books and clothes have been given out in the real world, all attributed to steemit. The newbies we are bring in on steemit are also mostly startups with ready made vision but without any blockchain knowledge so we create a space for them etc it is draining for me basically but i am pushing. the truth is most of the value happens behind the scenes in the base of the community but on steemit.com the instant way to measure value is mostly by the sbd on blogs. many things do happen on the discord. for instnace at the meetup you will be amazed to find many filipino steemians who are developers and infact are developing apps to bring steemit to mainstream in the philppines. an app to make steem powered app to disrupt an asian renown bitcoin powered remittance and some are looking into making steemit.com accessible in philippines on free data like facebook which is free if you have a globe sim here and for the most part free. and steemgigs was there to spot them and we'll be given them a space on the discord to brainstorm with them. More recently, it became too draining but not tire out, got the "steemgigs" witness to keep the fire burning. We are also currently helping busy.org find developers and ekitcho is the discord to waiting to recruit. I think you should visit too. most of its power happens in the dms for now but sometimes it booms. see the dev-request centre. it is amazing when new steemians start to look at steem early beyond just the blogging!
Hi @surpassinggoogle would you mind writing your URLs in line like this? I use text-to-speech from Mac OS and it's also much better to read if you make the blog post you are referencing part of the text we're reading!
Yes nutela, i am hopeful to get back here and do just that. The truth is, i haven't tried or come to know how to do that, but thinking of it now, i think i do; with the steemit editor, the one with mark down features. I will be back!
Like this:
[name](url)OK on steemgigs now. sorry I did not visit all the discord channels yet, working my way now.
Thank you alot. Mine isn't very popular, that is why i spoke about it
Might need a while to process this info, and let my little mind work out the pros and cons, but essentially, on first reading i think i broadly agree with the idea of different community tokens. The communities will be as powerful as their supporters, so I guess they would have to be reasonably generalised. I mean a community token for fans of 1920's bathchair racing, or officionado's of morris dancing in the nude are unlikely to get as big a following as say football. But I shall consider and possibly come back with an intelligent (and if not, potentially stupid) reply later.
Like it
Awesome!
whoa.. interesting ideas you proposing. I have a token for fans and supporters of mine.. hold a certain amount and you get upvotes from me.. hold a full token and receive shares from my rewards.
If it isn't manipulating or taking advantage of the reward pool, it still has something to do with it.
Either way.. great post, something to consider.
Steemit token economy. Cool.
There's some wisdom spoken!
your idea sound good
and true all that is created is good for the steemit growth
unsure if it will work but lets see what happens in the future
i want to have steem grow at a minimum $10
$10 at this rate it could be possible if people buy steem.
i hope more people join because they will buy steem too
they will get hooked
No other alt coin than steemit I love the most. I wish we would improve it like ETH.
good luck mate.
You are great. Very Good Post.
Cool post, Steem will rise significantly if we just create a token.
I can't it's good or bad have to research more to do that thanks for info
I look forward to your help
very nice post dear
totally agree with you !
you must be a super fast reader to do so. I do not always agree with myself.
lol
Nice information
You are right @joseph
Good one! You have a lot of interesting content there :)
Like and follow :)
pretty cool thought you have and yeah i am on discord too :)
Joseph - We appreciate people like you who always give us new and interesting ideas for betterment of this awesome platform. Please keep posting !
I love the video hosting idea! So much yes to this!
Great article!
Interesting ideas and post. I think its over my head, I am still a learning newbie. Always! lol
Love the post - your idea sound good
and true .....pretty cool .....
I must read more and think :) this info is good.. but I must think more .
😲😲😲😲😲
It was already discussed by @ned on this podcast.
Communities and user issued tokens are coming. Golos has already announced they will implement User-Issued Assets.
ok. we will see.
The problem I have with user issued tokens vs community tokens backed by SP is the spam that user issued tokens would create. There should be an overhead to creating the token in holding SP. It should also relate to improving the value for Steem and SP directly. Steem chain does not charge fees, which means steem will not be the GAS for these tokens, instead of issuing junk tokens, locking steem in SP to back up these tokens creation would give the tokens an initial value and improve the value of steem.
I say, completely decentralize token creation and let anyone and everyone issue their own tokens by just a few clicks of a button.
The team working on Golos has announced that both of these will be implemented. I suspect that Steemit will do the same sometime next year, after the Communities feature will be implemented by the end of this year.
Support for UIA (user issued assets). This means that you can issue your own tokens (not smart coins) and use them on our blockchain. You can find examples of the implementation on Bitshares.
Support for Smart Coins (coins backed with different assets, as collateral at the choice of the creator represented by Golos tokens).
I would only let people do that when they know what they are doing. Say SP > 300, reputation > 70 just as an example.
It is upvoted and resteemed.
I am honestly always interested in trying new things so I say if these ideas get out into action i want to be apart of it
This sounds like a brilliant idea!
First thought........simply brilliant! Community tokens would take on their own value and free up the rewards pool on steemit. I am interested to see how long it takes to do this on a mass scale. This could be a game changer.
Thankyou for sharing ,, amazing and nice post
I like;)
Good information
what are the best discord servers about steemit for me to join? i'd like to give this a try myself but am struggling to find the right communities. I am new to steemit and just began posting a few days ago so i want to ensure i am growing my profile properly and i think talking to some veterans of steemit could be very beneficial. Message me if you have any useful tips. Thanks! great post, upvoted
Since when did we start clickbaitting here?
Amazing, very good work :)
Good post @joseph, I see your post always improved, why with my post there is no support and no one likes. Could it help me for his support. thank you I've followed you guys
Interesting ideas and post. totally agree with you !
Yes, tokens are important. A lot of projects need something like that.
Hey brother, can you help me. Because every post I always have a little supporters and make me less enthusiasm.
https://steemit.com/introduceyourself/@munzil/introduce-meet-me-munzil-from-aceh-perkenalan-2017728t124144191z#@gaman/introduce-meet-me-munzil-from-aceh-perkenalan-2017728t124144191z-gaman-07292017
Nice post dude, if you want you can follow me, i´m beginner here, but i want to get money in that social network (vote)
Very Informative post. Thanks joseph
Upvoted
amazing
thak you
Good job. Here is a gift of my version with Mandolin. https://steemit.com/openmic/@digitalopus/steemit-open-mic-week-44-entre-dos-aguas-paco-de-lucia-cover-rodnell-matos-digitalopus
But small tokens will not have a special price. And people will still want to get Steеемdollars.
Thanks for your post, it will deffinently encourage people to visit discord myself included.
Good post and content!
What you are suggesting seems intelligent enough. The problem is I am not entirely understanding. Will continue to educate myself on this token creation. Thanks 🐓🐓