Steempower (RC's) is a way more flexible resource than gasoline. Look further than the current troubles.
The roads in the Netherlands are free to use.
And by that, I mean mainly used by cars. Hence anybody has an equal right or privilege, in that respect.
Yet a car requires gasoline to run.
For most of us, it makes sense that an individual who drives their car for many miles a day would need more gasoline than someone else only driving short distances.
If this wasn't the case then all road users would have to contribute equally (includes piling up all the gas costs, divided by the amount of drivers).
In the end some will pay for the usage of others even though they don't drive that often and you can bet that some will most definitely abuse the system by driving more just because they can.
Now, apply this idea to the blockchain and it works just the same. Although substitute gasoline for resource credits.
A person who wants to use the blockchain a lot has to have more RC's (or Steempower) than a person that uses the blockchain to a lesser degree.
So if you are Jack the SPAMMER (power user), you will need more RC's than, say, a normal user.
Steempower (RC's) is way more flexible than gasoline.
However unlike gasoline which is a finite resource and disappears after being consumed, Steempower is not.
Steempower regenerates over time.
That's why it's considered a very powerful asset in the Steem eco-system.
Once you have acquired the right amount that you need you are done.
You can do everything you want to do in a day and again tomorrow without having to buy it over and over again.
Now, it's hard to tell how much a person needs. Some will only need 50SP a day and others may need 1000SP.
It also depends on how often you use the blockchain. Some will use it everyday whilst others will only use it every 3 days, for instance.
Some days you might use more RC's and some days less. But that's ok because on the days you don't use it much it regenerates for you.
Other cool things about RC's or STEEMPOWER is that you can lend it to others (delegate) for a fee or for free if you want to.
You can also sell your RC's (Powering down). Even after it's used!!
It's very flexible.
Right now RC's balance is still being sought. It's a process that's ongoing as I write this.
Some actions on the blockchain or too expensive and some are to cheap.
Try to look beyond the current troubles. It will be fixed and than RC's will become more balanced and with that more powerful and useful.
In the long run I think even more powerful than Voting Mana. (Renting RC's is the future in my opinion and will be more profitable than up-voting yourself or voting bots).
As an investor it makes me want to have more Steempower while it's still possible.
I believe this blockchain will be used by many many more businesses and communities in the future and they all will need RC's at some point.
Especially once they realise the power of tokenisation and SMT's are up and running!
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I don't often agree with your optimism when it comes to Steemit, but as someone who isn't active on Steemit anymore - and is therefore objective - I agree with you that the idea behind the RC was not only a good one, but also necessary.
Bandwidth can't be free.
As someone who used to work in the field, this reminds of mobile phone subscriptions.
It'd be stupid and a waste of resources to make a single subscription model where everybody has unlimited data when some people use 100 gb a month, whereas some people only use 0,5.
It makes more sense for the person who only needs a minimal amount of data to get a cheaper deal that caters to his needs, while the person hogging all the data has to pay more since he drains more.
I think this is a pretty cut and dry, simple to understand idea.
I don't understand everybody's problem with this all of a sudden.
I think the problem is that people did not see the cost before. It was hidden. Plus the mantra was the STEEM blockchain had free transactions. We know this is not true. Seem did not have no transaction fee....it simply had no DIRECT transaction fee to the user. There was a cost it was just absorbed elsewhere.
Same with account creation.
For someone that isn't active on Steemit anymore I've read some knowledgeable and insightful comments from you in the past few days!
Too bad it doesn’t matter.
Great post as always.
We have two kind of steemians.
One that complain and spread negativity.
Another steemian that explain the useful of the change and rally us together.
Thanks.
Your analogy is clear and concise.
If #steem is a game no need to do change.
I think #steem as a business.
Sometimes business made changes that are not welcome to everyone.
I was not happy with the intermittent of not posting.
But I welcome the true value of RC.
The more I delve in, the more I see the rapport to get steem to the top 20 coins.
We all want #steem at $10, definitely we all need to step up and make it happen.
Believe everyone will be fine.
Just pure human behavior.
Keep on postin’
Posted using Partiko iOS
Love the comparison and analogy with RCs to Gas... A thought that ran through my mind was people questioning why DApps and other projects would want to use the Steem blockchain over any other blockchain platform (Ethereum for example) when it’s required that they buy and power up STEEM for the RCs they need.
The answer to this question is the same as what you mentioned in your post: RCs regenerate over time. Yes, these DApps will have to buy STEEM and power up, but they will not lose that STEEM as they use their RCs for actions on the blockchain.
Compare that to being a project on a blockchain like ETH, where you have to actually pay per TX in the form of GAS...
On Steem, DApps won’t have to pay per transaction, but rather, simply hold a stake in order to transact - a stake that is actually growing and earning money overtime!
RCs are exciting. I didn’t fully grasp the concept and implications until I read more about it from yourself and a few other influencers on the blockchain. Thanks for keeping us informed 😊
Yes! You got it 100%! It's a huge difference! On Ethereum you lose a little bit of money (eth) with every transaction that goes to miners. Here you don't. You only loose some RC's that regenerate over time.
Finally, a measured post that goes behind the blame everyone popular approach. Yes, this is a better way to allocate cost than bandwidth was, and it does set up the potential for future growth. The change over was not as elegant as perhaps hoped for, and it will take time to settle the true prices, but it is a good idea to look beyond the knee jerk reaction. You have my witness vote (if I didn't already vote for you).
Thank you! And thank you for the support for @blockbrothers.
Another one for the resteem tray on this topic. Nice analogy, and this:
Is some serious food for thought.
Each fork brings early discomfort, and a re-balance of approach/VP/Rewards, and now Resource Credits. I'm sure this will happen soon, and Steem will be better for it.
Enjoy your weekend!
Thank you, man. I believe once the dust settles Steem will be more powerfull than ever. Enjoy your weekend!
We were using free public transportation than. I didn't count how many times I saw this promotional question. "How much did you earn from facebook so far?" That's not the case anymore, because I didn't pay to post a stupid photo on fb as well, so it was a fair deal. Plus if you invest $1k in instagram right now you may have a more profitable business by selling cups or t-shirts or w/e.
I get it it was kinda necessary step but it doesn't have to be this expensive. People trying to smooth it and call as a "freemium" service, I never used a freemium service that I need to invest at least $100, my account holding ~$1k and able to comment ~34 without any vote or transaction. I never used or saw a high-end premium service. Except these https://richkids.life/ or https://www.wired.com/2008/08/eight-people-bo/
It's a social network, it's called, promoted and waiting for investments upon being social network. Now it's a social network with a bodyguard at the door asking for $100 for entry oh before I forget. steemd already removed the estimated cost which were 14.- for comments now beem says 15.1- https://beempy.com/power/oups
That's a good analogy and I think it will be beneficial to have a better idea of where expenditures are coming from. The thing that I take issue with is giving small amounts of RC to start with rather than making sure there would be an abundance. If the current (20.4) rate of resource credit generation was used from the beginning, it would have prevented a lot of issues. Even if someone couldn't vote because of lack of VP, if they had mana, they could have at least commented.
I think that's a lesson for the next time we need to make a change: Make sure to give users more than enough to work with, then cut it down as needed/possible.
I find it a bit incredulous that there are power users here on #Steemit platform that fail to reply.
Acting as if their content is gospel. Failing to reply to those that hold another's opinion in high regard is a form of disrespect.
Posted using Partiko Android
This is a great analogy to use! Thr RC system seems to be quite flexible and presents many opportunities to be truthful. I think the problem was the buf that started this out for most at a negative amount. After the patch, it seemed to accelerate pretty quickly and with yesterday’s patch it was almost completely fixed for most. I now feel it is quite an abundant resource for me despite actively engaging in the ecosystem. Look forward to the possibilities here with this!
It's slowly finding balance. I'm curious to see where we stand in a small week from now.
Hey, @exyle.
Now that people are turning the corner from posts that shout and threaten STEEM or shout and threaten those who shout and threaten STEEM, it is nice to take a look at what was intended for RCs, and to realize that in the end, yes, it will be better for all of us, since we'll more or less be 'paying' for what we use, rather than potentially paying for what we use, plus someone else, or the reverse—not even paying for ourselves.
In my mind, whether there's costs that are visible to see, like now, or costs that are invisible, as was the case with bandwidth, is probably more to the heart of the matter when it comes to why people are upset (other than not being able to function at all).
I don't think people care that much how things are done, and I think most would agree that a fairer allocation of costs is good. What I don't think most want to do is worry about whether they can do anything or not, or try to somehow figure out if they have enough RCs to function, period.
There's a minimum amount that people need to be able to do, regardless of their RCs, in order to do anything meaningful here. Time available to it should be the main limiting factor, not whether or not you can interact to a certain level on the site, so that you can grow your account enough so that you can build up to the desired level.
Investing, no matter how much people might wish others to do, is not going to be an option for a lot of people here. So, effectively, they're the ones without the gas to get where they need to go once the 10 x patch is lifted.