RE: Steem 2020 - Reducing Inflation To Less Than 2% APR

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RE: Steem 2020 - Reducing Inflation To Less Than 2% APR

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midlet in #steem • 6 years ago

I think you might be overestimating how much people care about this as @taskmaster4450 was alluding to. I don't think the inflation of Steem is a big deterrent for investors and more importantly...USERS

Which brings me to my main point. I don't think we should be trying to tinker with the economics to attract investors. We should be looking at the applications built on Steem and working towards making them fully featured products that people want to use and CAN use without taking an online class first.

Steemit/Busy/Steempeak/Esteem/Steeve/etc are blogging platforms with a cryptocurrency reward system integrated. How can we make those the best at that, so that we can increase users and traffic --> Which will THEN be the metric which will get investors interested.

I don't think anyone on the outside of this system cares much about this at all. But I'm just speculating too so who knows. The lowest hanging fruit is, make these apps easy to use, fully featured things that are solving problems and creating value for regular people. That IMO is what will attract investors.

6 years ago in #steem by midlet

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therealwolf 6 years ago (edited)

I think you might be overestimating how much people care about this as @taskmaster4450 was alluding to. I don't think the inflation of Steem is a big deterrent for investors and more importantly...USERS

I'm not overestimating. I'm actually fairly certain.

Which brings me to my main point. I don't think we should be trying to tinker with the economics to attract investors. We should be looking at the applications built on Steem and working towards making them fully featured products that people want to use and CAN use without taking an online class first.

No. Remodeling the economic system is exactly what we need to do. If you're not willing to do that, I'm not sure you should take part in this discussion. Just because 5 guys 3-4 years ago designed the system as it is today (with a few changes over the years), shouldn't be a reason to keep the status quo. Clearly, just accepting things as they are didn't work out.

I don't think anyone on the outside of this system cares much about this at all. But I'm just speculating too so who knows.

Correct, because you're a user first. This discussion is about making Steem more investor-friendly and reducing the strain of inflation, once we've got SMTs going. This isn't about doing it now, but once the infrastructure is there.

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midlet 6 years ago

I'm not overestimating. I'm actually fairly certain.

Then I'm assuming you have some data or analytics to back this up? Otherwise how could you claim certainty?

No. Remodeling the economic system is exactly what we need to do. If you're not willing to do that, I'm not sure you should take part in this discussion. Just because 5 guys 3-4 years ago designed the system as it is today (with a few changes over the years), shouldn't be a reason to keep the status quo. Clearly, just accepting things as they are didn't work out.

But it's an assumption that this is the reason it's not working out. I get that from your perspective, you think it's x thing, but if you talk to 10 different Steemians you'll get 10 different opinions on why they think things "haven't worked out". Again, if you have some solid data to back this up vs anecdotes or just your own opinion, that would be really good to throw into the conversation.

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therealwolf 6 years ago (edited)

Then I'm assuming you have some data or analytics to back this up? Otherwise how could you claim certainty?

Because when I take the cap of an investor, who primarily cares about his own ROI, then everything inflationary is primarily bad (of course exceptions exists). Instead, having an economic model, like BNB - where tokens are burned (up to 50% of the total supply); means that I'm more likely to make money, over the long-haul. And BNB seems to have been taken off quite well, didn't it? Of course it had more factors (as in binance being the; or at least one of the; biggest exchange(s).

But it's an assumption that this is the reason it's not working out. I get that from your perspective, you think it's x thing, but if you talk to 10 different Steemians you'll get 10 different opinions on why they think things "haven't worked out".

10 different Steemians can have 10 different opinions but doesn't mean that every opinion is valuable. Keep that in mind.

Again, if you have some solid data to back this up vs anecdotes or just your own opinion, that would be really good to throw into the conversation.

If you're so keen about data, then you should realize by now, that based on the historical data, the current incentives for people to hold Steem aren't good enough.

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