Forum client for Steem? That sounds awesome! Snax wants Steem to grow, and to become larger than ever before and we want to help Steem. People can earn more money on their posts, with Snax and without leaving Steem or other socials:
https://steemit.com/steemit/@snaxteam/decentralizing-social-media-rewards-steem-and-snax-comparison
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So the tl;dr; is that you create a new crypto?
What is the goal of it? Can you give an elevator pitch without buzzwords?
We are making a crypto that links social media accounts to our blockchain then analyze posts and content on that network to give tokens to people based on the relevance of the content they created. Right now we have Twitter figured out and we are working on adding Steem. I hope that was buzzwordless enough :D
So I am guessing that you the entity is crawling things to then issue tokens on the Blockchain right? So the viability of Blockchain token emission is centralized in your ability to code a ctawler that rates relevance good enough.
What value will the token provide? Why would someone want to buy these tokens?
With regards to the system of how we value certain content, you can read more on our whitepaper here: https://snax.one/whitepaper.pdf
With regards to value, although as you know nothing really gives any of the currencies value (crypto or fiat) besides people faith in its value, there are nonetheless market forces which approximately determine value of one currency to another and we talk about what we think will bring value to Snax utility token here: https://hackernoon.com/snax-social-transaction-and-why-sharing-is-caring-afc32c8f1646
One of the factors mentioned in that article is a Metcalfe’s law which states that the value of any social network is proportional to the square of the number of participants.
What do you think gives value to cryptocurrencies, and what might give value to Snax?
Regarding what gives value the best way to ask is:
Why would someone want to buy Snax tokens?
Hi! For the same reason that people would buy Ethereum or Bitcoin - to make a transaction on our blockchain (maybe donate to their favorite twitter account, or to use in a dapp that will be built on Snax network) or to invest into SNAX token because they believe that its value would increase.
Okay but people can use BTC to pay as vendors accept it, can use ETH to use smart contracts, can use STEEM to power up and get bandwidth to transact on the network and distribute rewards.
So I understand that you will do some tipping feature into SNAX like patreon? Or will you market SNAX as a payment token?
Why would I use your token to support my favorite content creators rather than use STEEM, BRAVE, BTC, Patreon or any other thing?