The bottleneck for Steem last bull run was account creation; people sometimes waiting many months to get an account.
If we look at EOS, they have a similar problem in that app developers were having a hard time getting the resources they need and moved to markets like Chintai which have helped. Chintai is a token leasing platform that allows EOS hodlers to lease their tokens in exchange for passive income.
Now, incoming is REX (https://github.com/EOSIO/eosio.contracts/releases), which takes the ability to lease to the next level by allowing EOS hodlers to lease the resources their tokens provide without actually have to lease the token itself. This creates improved resource liquidity and provides extra passive income for token holders.
Now, let's look at Steem. The bottleneck was account creation. The solution I have in mind is building our REX on Steem, where token holders can lease their RC's (resource credits) to apps creating a nice liquid resource market. Also, an improvement to the wallet that allows for easy new account creation via RC's, showing the number of RCs you have available AND what you are allowed to do with them.
I believe no resource credits should ever go to waste. RC's refill and can be consistently used to create new Steem accounts. We should be creating as many new accounts as possible, so we're ready for the next big bull run. Every new account matters and if we make it easy for Steemians, big & small (even if the Steemian has just enough extra RCs to create a free account each week) that is better than nothing.
Yes - an RC 'delegation' or 'lease' market has been suggested by a few on Steem - and I hope it becomes a reality. There's many projects that don't need to upvote content but do need RC's to function properly (think of all the gambling apps ;-)) and now all we can do to provide them with RC's is delegating Steem Power... Of which they waste the VP, and you as a delegator miss out on Upvote Value. Shame.
I'm claiming 1 account with my RC's every 3 days I believe, it's terribly 'expensive' as I'm not the smallest account around and still can claim only 2-3 accounts a week. I'd love to delegate my RC's to a pool instead and let the projects that onboard people use my RC 'power' for that.
I'm not sure of an RC delegation market would require consensus - if not, I hope to hear what developers need to make it happen <3
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:* If Steem had an epic search function or search.esteem.app was functioning right now I'd dig up an article or two from your account.
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I am just glad that people sometimes read them and get something out of what I put into them. I think each day, more users are learning how the platform works and what is possible in the future - it takes time though - but we are getting there.
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Yeah I’m claiming 3 accounts a week as well currently. Hoping to utilize them to onboard in my store or at shops eventually.
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Should this be RC donation instead of delegation? Because unlike SP, once RC is used its gone, you can't undelegate the RC and use it yourself
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There is an issue open on the Steem github repo (my apologies for not posting the link, i'm on mobile at the moment) about creating RC delegation pools. This would allow RCs to be delegated separately from SP and delegated to a pool that multiple accounts can subscribe to and use as needed rather than having to constantly manage how many RCs are delegated to each specific account.
I think this is a really really important addition to Steem and I hope to see it implemented sooner rather than later.
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I agree, glad to know the issue is open on the Steem github repo. If the changes require a HF, would be nice to try to tie it in with the upcoming HF for the Steem DAO.
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Are you saying we can already specifically delegate RC?
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well said...thanks! i waited almost a month...for my steem account back in january of 2018. others waited longer. i would happily lease my extra RC's for this endeavor! let's get ready!
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I completely agree with you Dan, it is one of the major bottlenecks and needs to be looked after asap otherwise we will miss out on some many potential users of the platform
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How many RC are needed to acquire a free account? I would also agree it needs to be easy to claim thise accounts so small steemians like myself could claim them. Another resource to HODL for when needed.
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It takes 7,922,585,402,047 RC to create.... I think that's around 4000 Steem Power... that's according to this utility: https://codebull.github.io/AccountCreate/
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Unfortunately, a lot of RC's are needed to claim an account. Here you can see the RC costs for several operations: https://beempy.com/resource_costs
In practice this means if I have 7000 'active' SP in my account and claim one, currently that costs me about 60% Resource Credits. So about 4200 SP, but to be safe and not make your account unusable, 5000 SP is a safe amount to start claiming accounts.
But, due to several factors, the 'cost' of an account can change daily, the above is what I observed to be the 'cost' the past few weeks.
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So definitely not for small accounts.
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Indeed - there's a huge gap between the accounts that need RC (with 100-200 SP you can do a lot on the Steem Blockchain already) and that can give something valuable with their RC. That's why a RC delegation market would be awesome, because also smaller accounts could delegate some 'surplus' RC even though they might not have enough to claim accounts and such.
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It would be nice to delegate RC that I do not need for day to day STEEM activities.
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yap, don't really checking but i think my rc was never under 80% if even that. and i am to far away from being able to create an acc. now thinking, delegation of RC could also help new acc, as someone would be able to delegate it to them without giving up Sp
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This bothers me more than anything. I understand that not everyone has enough time in their hands to manually use up the RC, but there are many ways to use up RC passively.
I like this idea.
If there was a service made in a way that a specific amount of current RC would be dedicated to making accounts that can be made readily available on signing up then I would 100% allocate my credits there.
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Great idea @Theycallmedan. Fixing this will in a great way make resource another hot and viable component of the bockchain. Beyond the liquid and staked steem, the ability for every RC holder to share them in account creation operations will open up steem for another massive enrolment.
Great Idea.
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Karma an app built on the eos blockchain actually suffered something similar a while back, users were complaining of not able to perform activities due to their low staked cpu and net, it seems they later found a way around it.
The above should come really useful not just for account creation but to users who are not able to perform or limited to the amount of transactions they can perform daily.
I once saw a user who was unable to edit a steemhunt post after he found a mistake with the post, this was caused by low RC.
The above sure looks and sound nice, hope the next update will have something similar
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I totally concur with this forward thinking, RC should be able to be delegated for returns and every steemian should know what they can do with their RC including account creation how tos
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Bottle Necks... Account Creation, Curation and Training..
For the record I have account tokens if anyone needs them. But that just doesn't scale very well. As I have to create the account, send the info and beg the new owner to change the password. Not easy for a noob.
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Ya, if we can fix the part where we can just send a invite link where you input the name you want, the enter and it shows the keys. That way the person has the input the name first before seeing the keys. Could simply not accept an account unless you input the name yourself.
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I have an app for that :-)
https://freeaccounts.dpoll.xyz/
https://steemit.com/steem/@emrebeyler/steem-santa-is-here-free-steem-accounts-for-your-family-and-friends
Basically, it's an app that works with gift codes, where you pass them to the potential account owner and they pick a username. And the system creates random strong passwords for them.
It's open-source and everyone can use it. However, it requires tech knowledge to setup/deploy this thing. Maybe I should find a solution for that.
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I fully support the idea of RC leasing or delegation. Currently, existing users with SP are mostly not fully utilizing their RC. I would think if a normal user has about 100SP, it is likely he/she is unable to fully utilize the RC.
On the other hand we see new joiners struggling to get started. I won't be surprised if many of them leave immediately because they do not understand the concept of RC and find it strange why they can't do much on the platform.
While making RC leasing/delegation possible is a long term plan, I thought in the short term, we can start a SP delegation program to help all new joiners
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How many steemit accounts are the at the moment? Thanks
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@penguinpablo posts regular stats on many areas of the blockchain: https://steempeak.com/steemit/@penguinpablo/daily-steem-stats-report-tuesday-april-23-2019
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Cheers mate
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Great idea. A pool where we can delegate our extra RCs to new users and a governing mechanics with it that would check on spam and abuse that would remove the rcs if neccessary. I would give my rcs for free if it would improve onboarding. ☺
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Onboarding is very very important to help STEEM grow. My contribution has been @giftgiver, SP delegations to users when they run out of RC. I hope to expand it to a point where it can do full onboarding, from account creation to ensuring that the users are fully prepared to tackle their time on the chain. I've got @hoist which can help users get consistent votes at a certain value, and I recently got full control of it and can help out new users with that. Plus @steemsavvy(not mine) is a great resource for new users to understand whats certain STEEM things are.
With GiftGiver, users currently need to go to the site, but I'm working on integrating it with other dApps. Been talking with @buildteam about adding it in tokenbb but waiting on them to develop it more out before it gets integrated. And working on adding it to the Ulogs.com site right now, heres the github issue for it, and if you know someone who can help, I'd appreciate the help. https://github.com/surpassinggoogle/UlogsV2/issues/259
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@rishi556 I think you meant @hoist
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Thanks for catching that.
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Visual interpretation of how REX can impact EOS here, though I'm sure you have seen this already.
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Rc is rather useless from around 100 sp to 4500 sp unless your goal is to spam the network. Maybe raise the lower limit a bit for people doing serious engagement.
I have account tickets. Im sure others do too.
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People with lower amounts could just lease their RC's like how EOS holders do on REX.
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This sounds like a really good idea for unboarding a lot more people @theycallmedan.
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Yes, we should be creating as many accounts as possible; yes, we should be prepared.
But at the end user level, we still have the issue that Steem tends to be too complicated for the average social media user in the world. People EXPECT basically "plug-and-play, sign in with Google, and it's all done for you" ease-of-use. And we're pretty weak, in that area.
The other "issue" we have is that pretty much everyone and their dog wants to "farm out" activity to some sort of system, or economy, or delegation that'll let them collect this passive income. That's a nice idea but there's a definitely limit to just how much "buckpassing" we can support with out actual end users doing the actual work.
As long as we keep creating systems and Dapps that make it more attractive to be passive than active we're also getting in our own way, in terms of this "next flood of new users." This are going to look at this whole system, scratch their heads and conclude "The way to make anything of myself here isn't to actually PARTICIPATE, but by talking someone else into participating while still getting paid to be here."
But we can't ALL be metaphorical Huckleberry Finn's, passing along the fence painting to someone else...
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Hoping to get a better understanding of what you are envisioning here.
Currently the RC is tied to SP. I assume this was done, despite the havoc it played on new accounts, due to the issues Steemit and others who run nodes were facing in regards to costs. A hard scenario for sure, changing the idea that any could come and take off running to one requiring some skin be put into the game. Not unreasonable, but definitely a change from what has been pitched without much in the way of changing incoming expectations in the sign up process.
The way to combat this has been either through SP delegation or rental. Which requires skin in the game or a benefactor. I say skin in the game as one can either buy Steem to power up or rent delegation, or they can pay with credit card for delegation through @steem.ninja.
Are you suggesting separating SP from RC where the holder of the SP/RC still maintains the benefits of their SP (not the person or company renting the RC), and if so, what are you seeing that would compel a company or person seeking to rent the RC from simply renting SP itself or purchasing Steem and powering up?
I also wonder if in the long term interests it would benefit us to have them put skin in the game as far as making them purchase Steem to power up. If they rent their movement here, it would seem to encourage more of the Drugwars scenarios where once they are established they bolt for a chain withotu the rental fees.
I appreciate any insights into what you are envisioning here, and the long term reactions in the market you may foresee.
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Yes, I want to separate RC and SP. It seems there is an issue in the github repo and it just needs to be pushed into production.
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Yes we definitly need RC delegations and markets this would be great to have before the next Bull run plus SMT...so the Bull Run can start somewhere mid 2020?
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Even just a way for us smaller-but-not-too-small minnows to be able to create accounts slowly would be great - like, I never manually use all my RCs, not even close, but I don't have enough vests to make an account, either. If I could set "create account using 50% of my RCs until the account is made," or something, I would totally set accounts to automatically create with my RCs, but currently it's all or nothing.
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An RC market is necessary but we have to think about setting a limit, a maximum we can delegate.
If new users can get resource credit delegations, they never need to buy and power up Steem. It’s bad for Steem’s price, since what gives value to Steem is the fact that it cam be used to transact on this blockchain.
A passive whale who is just here for the investment will potentially be able to delegate their RCs to millions of new users, and none of them will need any Steem powered up.
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I see this differently. I think projects will want to buy a ton of steem, delegate the RCs to the users so the users never need to touch steem. That may sound bad for steem but it is not, that is mass adoption. Being able to use steem without even knowing you're using a blockchain is the future I see.
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Agree. It doesn't matter who holds the SP to generate the RCs. Most of this ultimately shouldn't be visible to (average) end users. It's actually a good thing that RCs could be independent from SP by delegating to them and thus making them kinda liquid. SP would remain the voting and financial aspect which is easier to grasp.
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I dare to speak in the name of the planctons on the poorer side of crypto-ocean: Hello, dear @theycallmedan and all you Steem-friends... Once again it is demonstrated that success attracts new challenges and greater responsibilities. Only the success achieved by that dream called Steem explains that there has been an exponential increase in requests from people who want to connect to the platform, despite not having a gigantic promotional campaign but rather the old " mouth to mouth ". As a Steemian from the so-called Third World - specifically from the Venezuelan dystopia - I only ask you not to forget that for many of us Steem is the hope of obtaining - not only some economic stimulus - but, above all, the integration and recognition of a global community -which in many times we do not find them in our countries- to initiatives that go far beyond simply publishing some post. In my case, for example, I try to visualize on the planet Steem what some artists, among them my students, we are trying to build in spite of such adverse socio-economic conditions that would be difficult for all you to imagine.
• I know that in your case it is not necessary to remind you that Steem is more than a simple financial transaction because you are constantly supporting emerging projects but it is not too much to remind it some whales that prefer to eat alone in the vast crypto-ocean-
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Someone posted this idea of renting/giving or sp to new steemers on my minnow tips post about how to solve low rc problems. I would absolutely do this if I or someone else could make sure the new accounts are legit.
Maybe a weekly/monthly check would work for that purpose.
I just started my @fitinfunfood blog in Jan 2019. I needed 100 sp to function properly. We give people 15 sp in some onboarding programs now and none in others. Woohoo!
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It was to my understanding this was on the cards prior to the layoff and re focus. I am so up for this.
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This would make steem such a powerful blockchain. Many people have too much RC and not enough SP which makes delegating SP an unviable option.
Although. RCs are a disposable asset so delegating them isn't a viable option. It would be more like a market. You could choose to send a portion of your RCs daily and sell them.
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Thanks for reminding us Dan
I’ve claimed 2 accounts today
I must admit that I wasn’t bothering with claiming accounts from RC until now. Not any more :)
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Yup, the next bull run there'll be a ton of folks seeking to create new accounts. I had a friend who had been waiting a while for his account to get created so i created one for him instantly using busy/steem.ninja so that's one option.
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Yes I am prepared!
Hehe..
I have a lot of RC's that are just sitting idle so I am currently claiming Account Tickets via SteemWorld so that in the next Bull Run if one of my Friends suddenly get interested in getting a Steemit Account I can accommodate him/her almost instantly.
I am currently holding about 5 Tickets and I feel this is enough for me plus I'm more than happy to give out these accounts to anybody who needs them.
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Thats a good Idea and Steem would become more efficient.
Would be nice if you have a pool and you can buy with some Clicks more Rc in a super easy way. I think Rc Stuff should be way more Integrated in Front ends.
There is no super easy way to claim a account without reading Stuff. A 1 click solution would be the best :)
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This is absolutely the way forward, I see so many independent accounts now trying to find ways to onboard themselves by creating new accounts with their own RC’s - myself included.
But it’s a challenge - how to find their perfect account name, and even then they have to trust you with keys until they change them. And new accounts need some delegated SP to get them going - how to manage that. So it’s a case of cherry pick accounts and delegate yourself - or find a combined system like this.
As you say, easy volume account creation is essential for growth - and it’s there in the RC system if we can get everyone working together.
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Great initiative @thecallmedan
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I am now up to 77 accounts claimed and ready to go given the needs that may come. My goal is to use them to bring friends and family over to the ecosystem for free and get them engaging. The time is soon!
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The waiting time between which you create your account and where you can access, should definitely change and shorten that time, it is illogical that it lasts up to a month. that makes, that loses interest in many users
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Hope so even i have 5000 sp so i can created an account using resources credit . 👍
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I agree. Glad now (those that has Steem Power of atleast 10,000) can create accounts using their Resource Credits and Decentralized Applications offers account creation - free or a small charge.
This makes the platform more encouraging to new users. Glad that we already "Almost" solve this issue.
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I like the idea, even if I'm not sure whether there's gonna be such a bull run (and the resulting onboarding bottleneck) ever again.
One question, though: how do (paid) account creation services like anonsteem or blocktrades do this? Do they actually have to claim accounts with their RCs every day and stock them? What do they do if they run out?
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For delegating leasing there is https://dlease.io/ which will, as soon as RC leasing comes out, also support this.
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@theycallmedan, It's collective effort and without any doubt this Idea can boost the Account Creation Process and already many projects like, Steem Ninja putting efforts to improve the account creation process by Fiat Gateways but when we have Resource Credits option open then we should not let this move towards waste. Great point brother and stay blessed.
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I agree with this post. I had 5k delegation last 5 months, I made around 5-10accs from steeminvite for emergency registration purposes. Lets just stack accounts for the next bull run ;)
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