Yesterday I got the chance to ask Hive account@ned some questions about the Steem.DAO as a witness (Hive account@blockbrothers) for the blockchain on the State of Steem forum. (the recording will be up in a couple of days).

The Steem.DAO is being build by Hive account@blocktrades.

I got invited to ask these questions because Hive account@blockbrothers was one of the only witnesses that was skeptical about the whole idea. I also voiced my opinion in several posts. here and here.

We want to know all the ins and outs first before we form an opinion about the Steem.DAO.

Why? Because it makes sense and because it's a job of a witness to be skeptical, yet fair about these things.

Especially when there are rumours/talk about a Hard Fork to redirect inflation from author rewards to the DAO.

Hive account@blockbrothers is not in the business of bending over the moment the big guys start swinging their ideas about and I was frankly shocked how easy some witnesses agreed with new economic changes so easily without having any clue what the Steem.DAO will look like.

Our stance:

If there are going to be economic changes that will affect most Steemians on the chain there better be a damn good reason for it - Hive account@blockbrothers.

Vote for @blockbrothers via SteemConnect

About the DAO.

I thought the deal between Hive account@blocktrades and Steemit Inc. was intensely talked about between them and they had a clear idea of what they want the DAO to look like.

I also thought that an inflation model would be needed to make this work.

It's not the case.

What you need to know is that nothing about the DAO is set in stone yet. Even Steemit Inc. has no idea what it will look like when it's finished.

It's a community driven project that will allow us to fund proposals through a funding model by stake weighted voting.

Where the funding is going to come from is still very much open for debate.

How we going to prevent big stakeholders from upvoting their favourite (or own) proposals is still open for debate.

What kinda proposals we can expect is still unclear.

Who is going to check the work of proposals that are funded is still open for debate.

Basically....

Absolutely nothing is clear besides the fact that it will cost Steemit Inc. $55k to have the first version of the DAO build.

But they are willing to give it a shot. Because it could have potential value and it's worth exploring.

The first version of the DAO is going to be donations only. It's a trial.

No author rewards will be affected.

Also, remember that every inflation change will require a Hard Fork, a Hard Fork needs to be planned and consensus needs to be reached amongst witnesses.

You won't wake up one day with 20% of your author rewards gone.

Without consensus nothing big can happen to the economics of Steem.

I hope I have taken any concerns away from authors by asking the questions directly and again if you appreciate this take a couple of seconds to give your vote to witness Hive account@blockbrothers.

Vote for @blockbrothers via SteemConnect

I talk about it more in my vlog.

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