Hello Steemians,
As Witness Candidate and Startup Company that hopes to run a content business on Steem blockchain, we would like to express our opinions regarding what is to be included and excluded from coming SMT platform and from future hard forks
Steem Power for What?
Recently, book information pages catalogued by have been systematically downvoted. The intention was to have book information pages on blockchain for eternal URL preservation, and to let publishers, bloggers and others point to them in their book reviews, blogs and so on.
Yes, we admit that it was on the borderline between legitimate use of SP/blockchain and spamming(or whatever you may call).
After this fiasco, we decided to post them in the future with "decline payout". No voting, no judgement from the community but preservation of the book information page. Nice and clean.
Suddenly we don't need SP any longer(except a few thousands for RC in writing on blockchain). Surely, there is a good way of using it. Right?
What is the right way of using SP?
The all agreed upon and legitimate way of using SP is to read and vote on good articles for curation payout. I believe no serious business will be able to meet this judgement. They will eventually end up with direct/indirect way of automatic votes to the people/postings that meet their business purpose.
So, how has the world responded to this fair and just community of steemit?
Let's take a look at SP rankings:
And let's compare this with the statistics written two years ago:
Steem Power Statistics - Steemit Business Analytics
Two years ago, 16 whales held more than 1M SP and now the count is only 14. Extending the bracket, It was 36 on or above 500K two years ago and the count is 38 today. For two years with 8+ % inflation annually, the total steem power hasn't increased. In reality, the total value of SP in two years has downed to less than 1/10 of that amount two years ago.
Why? Simple answer: There is no point of having SP (unless you really like reading all the good articles from steemit. I honestly would rather read Medium for that).
Please allow us to share some opinions with you regarding SMT or future hard forks after spending about 2 years on steemit.
Steemit is a Dapp, no more. And it should succeed or fail on its own.
Let Steemit issue a new coin for its own use using SMT preserving all the rules and communities. Let it prosper or fail on its own. Community will choose to stay or leave on their own judgement.
Remove inflation capability from Steemit
Let them inflate their coin, not Steem. After SMT, no Dapp is supposed to inflate platform currency.
Inflation only for keeping the blockchain
Inflation should be minimum. Even interest for SP is not necessary(currently 2.5% or similar). Paying for witnesses may be the minimum.
Flexbile Rules: SMT projects should be able to reset the rules
For example, it can add "blocking" capability that blocks users completely(even no positive/negative voting). Certain social media is not a place for public judgement. Let them create their own social media based on their judgement.
Certain social media may choose to go with zero payout(no inflation on its coin).
Certain social media may choose to go with "membership only" model, which requires either price tag to follow or acceptance from other members.
Question: Will SMT support this flexibility? If not, what's the point?