Steemit Killer App

This week I took a visit on discord, I visited of these steemit communities, and tried to seek out out what is happening with every. I encourage you to try and do a similar, there square measure nice concepts and nice folks swing plenty of your time and energy to boost steemit and build it successful.

I know we have a tendency to don't got to trust each plan, however each plan deserves an opportunity to be explored. The steemit communities on discord square measure noisy with activities and discussions.

They say ETH found it's killer app in one thing that was sitting there right along, tokens. perhaps steemit will notice it's killer app also.

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. one thing that's not sensible or ascendible on the long-term. however we should always not shut these down, or play favoritism. each community that shaped around steemit will a similar factor. this is often the results of false steering and low ambitions.

Ever since it's conception SBD was the right example of AN ERC20 token, it fights with U.S.A. to urge loose, free itself from our obligatory worth to it's own speculative worth, however we have a tendency to stay blind to the chance, and force our rules. we have a tendency to went as so much as creating conversions undesirable, and forcing folks to sell their SBD.

Maybe we should always have freed SBD because the payout token for content on steemit, and it's worth left as speculative. perhaps we should always have additional tokens created by communities and set those as payments for every 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 function balloting power to award additional of a similar community token. The team behind the token would would approach exchanges and check out to list the token with it's own speculative worth.

If communities award their own tokens from upvotes then these communities are not any longer fighting for a similar reward pool.
If the upvote for instance awards twenty fifth SP and seventy fifth 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 chop back in steem may be used on the inner market to shop for SBD at value and burn it. that may offer SBD enough support till additional community tokens square measure created.

The separation of Steem from reward token/s, {might be|could be|can be|may be|may we have a tendency toll be} the solution we square measure yearning for. Communities may gift U.S.A. a chance to try and do simply that. Steemit communities with separate rules and payout tokens can produce less friction and additional opportunities for community leaders to introduce new and contemporary concepts.

It was shortly agone that steemitsports succeeded in making a community of sports fans, rather than holding this community flourish and grow, we have a tendency to merely killed it. Why we have a tendency to killed it? as a result of it had been "eating at the rewards pool". A term we have a tendency to ne'er stop mistreatment, "raping the reward pool", none people stopped to suppose that the reward pool can be our drawback.

Maybe our reward pool is centralized, it's controlled by a couple of people with their subjective style of what's sensible and what's unhealthy. in an exceedingly communities token format, whales will select wherever to speculate their SP, what content they suppose is sweet. we have a tendency to now not got to subject authors to a broad judgment as we have a tendency to do currently.

Curation rewards in community tokens can force everybody to vote for the community authors that they suppose square measure manufacturing the most effective content. The competition to earn totally different speculative tokens can scale back friction and free the reward pool to scale.

This would be adequate to making a behavior therapy on the Steemit platform. it'll enable numerous projects/teams to make their own speculative tokens and invite contributions in steem which might be secured as SP. Another approach would be to contend for delegation that pays in community tokens.