Vlog 368: How will new users get RC's when the price of STEEM goes up?
New users need Resource Credits to operate on the blockchain.
To get RC's right now you either need to buy STEEMPOWER or lease it.
Buying RC's in the form of (your own) Steem Power is still fairly possible with STEEM at 80 cents.
If you need a 100SP that will set you back $80 which is ok for most.
Now when STEEM goes up in the future lets say to $80 that same amount of 100 SP will set you back $8000 dollars.
That's a problem.
Luckily new users don't need SP they only need to have RC's in their account to operate on the blockchain.
How will they get these RC's?
Two ways I could think off.
Delegated RC's from projects or High SP holders to new users.
Lowering the cost of RC's with an increase in STEEM price. (when 1 STEEM is $80 and it buys you the same amount of RC's as 100 STEEM at 80 cents that could compensate)
These are some of the questions and ideas I'm thinking about and I talk about it more in my vlog.
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Hello @exyle! Two vlogs in a row. What a fun week! Thanks for mentioning me in your blog yesterday. I didn't at all want to make you feel badly though. So sorry if i did that. I just simply do miss your daily posts. But, it's more important that you 'be you'. Your life has had lots going on over the past few months. Sometime change is a great reprieve. When i began being a teacher i had to go through this thing where i was saying the same thing day after day and to be honest it messed with my mind a lot. But, you see listeners enjoy hearing these things, which is why they keep coming back. And, no two days of teaching are ever really the same. There's always something to offer which is unique. Once i understood that, it felt much easier to be repeating myself. It was something i had to understand and process as a facilitator. Sharing of your expertise is appreciated and respected because you have a long track record. I really appreciate your educated practiced shared wisdom in the areas you speak of. Glad to hear i am not the only one. But, yes you do need to genuinely feel good about what you're doing! There's so much happening in the blockchain space there's much to talk about and there will continue to be for long time coming. Then, in years to come you'll really have the expert badge to wear --if it pleases you to wear it!
Thank you for your comment and the advice! It's appreciated!
You're welcome Mark! Thanks for being YOU 🐶💪☀️🥗🥇
I got introduced to steem with steemmonsters and after a few fights I was not able to comment, had to lend a bit SP to be able to do some action. Maybe there should be some 2 weeks trial unlimited RC version of it
Welcome! Lucky name grab there,surprised steemgeek wasnt taken ☺
I hope we get it sorted for people like yourself, and great that you are here!
steemgeek was already taken but not thesteemgeek :)
I was too lazy to be precise hahahahah
I was just wondering, how did you learn that was your problem? I'm very interested in new user experiences through on-boarding from different apps.
it seems like the battles with steemmonsters taking a big part of all transaction on steemit. I started with 0 sp so could just make 3,4 comments and few battles and had to wait till the next day till my RC regenerate, It was bit wierd that I was not even able to contact someone or text for help till I got the SP, especially on the first day on steemit this was not great.
I guess the RC was introduced to block bots or spammers to create new accounts and make unnecessary transactions on the blockchain, but also creates the problem that you must have SP to get the full experience, so maybe some kind of free trail RC wouldnt be to bad to begin with.
Thanks for letting me know!
Interesting but then new people might just come and Spam for the first 2 weeks - thats what we want to avoid
RC's are ultimately decided by witnesses. If ordinary users (as opposed to spammers or power users) are being constrained, we would be expected to increase available RC's and bear the increased costs of running a node.
If ordinary users need a delegation to get the required RC's to use the blockchain, we're failing.
Although perhaps if we really get big, the resource usage of an ordinary user will be much higher. In that case, we may expect ordinary users to need to own a certain level of stake or get a delegation.
Yeah I completely agree. We need to make it as simple as possible for real new users to come online and become a part of the community. The witness protocol and Community for each Hive there of is the best methodology for allocating scarce resource credits.
How much SP do you think is sufficient to keep in my account for RCS? Im going to deleagte some SP - I was thinking of keeping about 100SP in my account would that be enough?
It's hard to tell. Because I don't know how many RC's you use in a day to day basis. I would suggest you check steemd.com/@conradt and make some calculations over a week.
Glad to see you started to do more vlogs about Steem again!
You've thought of a very interesting correlation between the price of STEEM and RC availability to newcomers. Yes, completely agree as price goes up, nobody will pay large amounts of money for basic functionality, so an "equilibrium" needs to be found in this area too.
Costs incurred by cheaper operations on the blockchain in terms of RCs would probably be balanced by the raise in the price of STEEM.
One small concern for lowering costs of operations in RCs as price goes up is: would spam re-become an issue or would that be handled via different means, like Hivemind/Communities?
Spam was mostly caused by the ones not invested. I'm assuming that when ppl invest they will want to be part of the blockchain and help it grow. But I could be naive. I need to think about it more.
These are great thoughts to think about in the future. I suspect that communities will surely become an important part of the ecosystem as they create accounts for new users with the new capabilities hiven since Hard Fork 20. They would probably give more bandwidth to these accounts so they could perform transactions while they onboard. I would require users to go through some tutorials to get RC delegations though so that they are aware of how the system works. I personally also have an excess amount as well and think that many that do would consider doing something similar as adoption increases. The idea of having an inverse relationship between the price of Steem and cost of RC use is good and given that this is a witness determination is at least good news because it can be implemented or adjusted quicker.
Lowering the cost of RC's with an increase in STEEM price. (when 1 STEEM is $80 and it buys you the same amount of RC's as 100 STEEM at 80 cents that could compensate)
I think this is the best solution to solve the issue.
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Me too
Time to stack up steem and think for the long term :D
To reassure you somewhat, you said in the past there wouldn't be much point in you make steem vlogs but thats not true, there will always be development from steem and also new projects that you can talk about.
You also should bring up voting for blockbrothers more in your videos as a lot of people don't even realise you can vote for witnesses lol.