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RE: I'm Get The AKASHA Newsletter To Laugh At It
STEEM is gonna take out all these ETH fools...
EOS might pump a few Steemit clones out.
But I have to ask. "who is going to buy the Steemit 2.0 tokens?"
....and after a few equitable SMT distributions.
That final "distribution!!" FUD that is dogging STEEM will be dead and gone.
Well I'm wondering if EOS holder will get air dropped a certain amount of the Steemit clone tokens from the get go. I also wonder if Dan is going to build part of it himself as revenge . LOL
I hope you are right that the distribution question will be quashed when there are SMT distributions to STEEM holders so everyone will feel a lot better getting air dropped all the other tokens but my worry is that people will shy away from building on SMT because if they don't do an ICO format it would cost a ton to buy the STEEM to launch the community initially on a SMT. Most will likely do an ICO launch but purhaps not. They could do it in such a way that they airdrop a certain amount of the supply out but keep 20% of it for the founders / development and then let the market dictate the demand and price overtime as the application gets more popular.
Another thing I don't completely understand is if a SMT can be set up to have a set inflation rate perhaps at the same rate as STEEM or if a max supply can be released and that is the ceiling.
Well I'm wondering if EOS holder will get air dropped a certain amount of the Steemit clone tokens from the get go. I also wonder if Dan is going to build part of it himself as revenge . LOL
Yes, Most likely. What I was referring to was who is going to be the long term investor/buyer of the Steemit 2.0 tokens. The whales/investors that will invest/hodl and help the price stay afloat. 80% of users will be cashing out to fiat or bitcoin and you need a reliable bid for the token. Or just have a reddit karma system of worthless points.
I hope you are right that the distribution question will be quashed when there are SMT distributions to STEEM holders so everyone will feel a lot better getting air dropped all the other tokens but my worry is that people will shy away from building on SMT because if they don't do an ICO format it would cost a ton to buy the STEEM to launch the community initially on a SMT. Most will likely do an ICO launch but purhaps not. They could do it in such a way that they airdrop a certain amount of the supply out but keep 20% of it for the founders / development and then let the market dictate the demand and price overtime as the application gets more popular.
With HF20 every account will have a minimum amount of bandwidth allocated to it. I would guess enough to minimally interact with the STEEM blockchain, but not enough to spam or attack the network. It will have to be a fine balancing act. So I don't think a new SMT community will need to raise a ton of STEEM to operate, unless they want to back the token with an automatic market maker filled with STEEM. Which is totally optional from what I understand. Also, if the dapp grows really fast and users need increased bandwidth. The dapp developer can either buy more STEEM or lease delegated STEEM Power from existing investors like myself. The really cool part is that they could pay for the increased bandwidth with STEEM or even pay in their own native SMT token. I still think doing a small crowdsale for a good SMT wont be difficult on this platform. STEEM holders will have an incentive to support good projects that bring attention and increase the value and network effects of the STEEM blockchain.
Another thing I don't completely understand is if a SMT can be set up to have a set inflation rate perhaps at the same rate as STEEM or if a max supply can be released and that is the ceiling.
The SMT tokens can be fully programmable from what I can comprehend. I don't think zero inflation would be optimal with the need to reward content/activity via a Reward Pool. I guess you could have a slower inflation rate to limit the dilution rate of existing tokenholders.
In the EOS whitepaper they said they were going to inflate at no more than 5% a year. Personally I feel like that is a good rate just mentally thinking about it.
I almost think with a Steemit 2.0 that it could just depend how well people like the governance model or buy into the hype. The only time I owned TRON was from an Airdrop on HitBTC and personally I figured it would just get dumped really hard because so many people ended up with free coins but the opposite happened. Also I felt the same way when Stellar did a big air drop at one point but it seemed to excite people and get people looking into it more and buying into the hype even more.
So I'm not sure how some of the airdrops will end up.
A lot of people won't agree with me on this but I feel that Steemit Inc should have airdropped a lot of STEEM Power to members over a certain reputation and engagement at some point. I think it would have created a more positive attitude and made people feel like their hard work wasn't for nothing in a lot of people's cases. There are only like 67,000 active account or so on here and let's just say that half of them met the criteria that would be set forward and they were all given the equivalent of $500 worth of STEEM Power that would be basically $16.7 Million distributed out of the Steemit Inc account worth $148 Million. The air drops have worked and even some of the forks didn't totally dump to $0 or anything so I feel like it would pump a lot of people up and the benefits would outweigh any kind of temporary price sag.
Then to get even more people hyped they could say that they are looking into doing more airdrops in the future for active members of the community.
In the EOS whitepaper they said they were going to inflate at no more than 5% a year. Personally I feel like that is a good rate just mentally thinking about it.
5% Max, after the Witnesses are paid the remainder is dropped into the Worker Proposal Fund. Very reasonable compared to STEEMs earlier inflation schedule. Enough to fund the development. Yet not enough to feel the creeping inflation. The only thing I dislike about the EOS monetary model is the lack of a stake-weighted Rewards Pool similar to STEEM. With the Worker Proposal System EOS Whales may end up controlling how most of the funds are distributed. Compared to STEEM where you get to fund projects in a more decentralized way depended on your stake/investment in the platform.
I almost think with a Steemit 2.0 that it could just depend how well people like the governance model or buy into the hype. The only time I owned TRON was from an Airdrop on HitBTC and personally I figured it would just get dumped really hard because so many people ended up with free coins but the opposite happened. Also I felt the same way when Stellar did a big air drop at one point but it seemed to excite people and get people looking into it more and buying into the hype even more.
It is hard to predict the game theory around Airdrops and other distribution schemes. TRON might of benefited from the right time in the crypto bull cycle and also the monetary policy of it's token. For instance I believe TRON is just an ERC20 token at this point. So I would assume not much inflation at this time. That may change when the TRON network goes live. If it does. Airdrops with premined zero inflation Vs. Airdrops on inflationary Reward Pool models such as STEEM and Dan's "Steemit 2.0" With the reward pool models I think you need to back it with a strong community of holders,investors and whales.
A lot of people won't agree with me on this but I feel that Steemit Inc should have airdropped a lot of STEEM Power to members over a certain reputation and engagement at some point. I think it would have created a more positive attitude and made people feel like their hard work wasn't for nothing in a lot of people's cases. There are only like 67,000 active account or so on here and let's just say that half of them met the criteria that would be set forward and they were all given the equivalent of $500 worth of STEEM Power that would be basically $16.7 Million distributed out of the Steemit Inc account worth $148 Million. The air drops have worked and even some of the forks didn't totally dump to $0 or anything so I feel like it would pump a lot of people up and the benefits would outweigh any kind of temporary price sag.
Then to get even more people hyped they could say that they are looking into doing more airdrops in the future for active members of the community.
I agree with this. Maybe just spread the distribution out over a longer time period so as not to crash the price.