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RE: DLive is joining the Lino blockchain, moving away from Steem
SMTs are a ways away but to break it down from my understanding, smts doesn't solve the reward pool being rapped continuously by a "dedicated" and "invested " few, it only gives people the ability to issue their own tokens, which is nothing more than a glorified way of ignoring the problem caused by the lack of moderation by fracturing people into little "moderated" groups.
Yes you can issue your own tokens, that's not "only", that's a huge difference. Steem will continue to be payed out like it is now, plus it will also be part of the SMT rewards. Like with @steemhunt, you can earn both HUNT tokens and Steem with your upvotes. Now if DLive went with an SMT and did 1 person = 1 vote token payouts without 7 day limits, it would solve a lot. And steemit.com is losing its firm dominance on the Steem ecosystem. It isn't far fetched at all, you're going to see a new dominant dapp here in the near future. Now if DLive was on top with millions of users all upvoting their favorite streamers/video creators, everyone getting payed both in DLive tokens and Steem, it would make a big impact on Steem's distribution itself. 'Cause the problem is big accounts circle voting right now and not enough small accounts voting to make a difference. DLive with its account based voting as the main way to earn would consequently change the game for Steem as well in the background.
That's my understanding of SMTs anyway. :P
So in summation it doesn't solve the problem at all, it only fractures the value among a MiLLiOnS aCcOuNtS worth of shitcoins.
It does solve the problem, it won't be easy to rape the Steem reward pool that way when you have masses essentially fighting against abusive Steem voting. The kicker is people probably will have no idea they're making life hard for the bad actors. They're just trying get their SMTs.
Exactly why will the masses waste their voting power, explain that to me.
'Cause you're using it in the background as you're voting to get your SMTs. You're getting your SMT token, plus some Steem as a bonus. The two systems work in parallel. Like with @steemhunt, you get your HUNT tokens and some Steem for your upvotes. However Steem isn't the motivator for upvoting, HUNT tokens are.
You're using your voting power to downvote abuse, and why will anyone waste their VP, in the background or not, if you are given 2x the power or not..
What's the motivator for downvoting?
Why would you need motivation for downvoting? Each dapp can have their own rules for their community alongside with their SMTs. If someone disregards the TOS you can exempt them from earning SMTs. It incentivizes good behavior. The people running the dapp are basically mods for their dapp. You need some sort of centralization to keep bad actors in check. Steemit.com is and should be a place where anything goes no holds barred. But as you can see you can't really do anything if someone goes wild in that system. Flagging doesn't help at all. Still it's nice to have a place like that existing for people who crave absolute freedom.
So how can Steem ever hold value when people move from one community to their little segregated groups, thus leaving the pie for all the rats, because you seem to think that by giving the rats exactly what they want that it's going to be a nice thing, because "absolute freedom" yet I don't think it can sustain the abuse or it's value and there's little room for "absolute freedom" in community, ultimately who will value the innumerable shitcoins that each could be printed at will, while the asset backing the whole system is plundered, because it seems the problem isn't going to be addressed and those that flock to their separate corners won't have anyone else but themselves to "valuate" those tokens.
If flagging doesn't help now, and it won't help any more in the future, how does abuse get checked, least kept from becoming so prevalent in an endless consortium of rats clamoring for the ever diminishing value of steem?
There is no reason why an SMT could not become hugely valuable if the app(s) it was created for became hugely popular. It's possible to design the distribution of an SMT in any desired manner from the outset. Every one of the problems mentioned by the DLive team could've been solved by the SMT protocol - except for bandwidth, of course, the ownership of which will be quite concentrated into whale hands for quite some time.
Exactly. The way Steem is payed out won't change, but SMTs can change the distribution. You earn Steem alongside SMTs. So if the masses started using any dapp using SMTs as its main payout method, those same people voting would unconsciously make Steem more evenly distributed. Making the potential whale circle jerking using just Steem harder and harder. A few whales can't offset a flood of minnows fighting against them.