RE: Steem HF21 Review - Reject 2e12
These are some great posts you linked.
If you curate when the post is worth less than 16 Steem your vote gets hit with the 2e12 penalty similar to voting before 15 minutes, you aren't getting the full potential. However, once it is at 16 Steem curation % is shared with more people and it is similar to now where the people who 'discover' the content get a higher curation payout ratio. Curation is getting way too complext to explain. I can't see how people will jump on Steem and say hey this sounds like fun, I'd love to figure it out.
Moving to paynet is a great idea. I really hope delegation is not destroyed before Steem is a lot more evenly distributed than what we have right now.
It would be great if SMTs were up and running first. I do like steem-engine, but we are giving the makers of that a heck of a lot of power.
I agree the inflation with Steem is too high, but I feel suddenly dropping it would be a disaster. The post payouts would be that much lower if there was 2 or 3 % inflation and most people would be only making money if the price of Steem goes up. It would be a huge benefit to current stakeholders and investors, but until SMTs are up and running well it may turn off new members.
I agree that when SMTs get foothold, then we should seriously think about reducing inflation. Price of an asset is always depend on supply and demand. BTC and LTC are having great time on upcoming halving that will reduce the reward to half. On the other hand, at low demand, Steem are sold as usual or more. Mostly insiders (i.e. old Steemians) are buying. HF21 will make it difficult for newcomers. Moreover, STINC is not creating any demand by taking popular decisions (e.g. burn few millions, airdrop on coinbase earn project, or delegating to popular dapps such as @actifit, @steemhunt, @dlike to inspire their users) or spending millions on marketing to attract new users, investors, or developers.
I do agree in one sense, but in another sense, who is going to buy 500 Steem to make themselves an instant minnow if Steem is 10 dollars a piece and inflation is 2%. It seems more profitable now at 20% inflation and 40 cents because if it moons, that would be nice. I guess the powers to be have a target of active users in mind before changing it.
Maybe that's also why they are delaying SMTs. It's pretty amazing that some witnesses just managed to make a very similar thing on their own without millions of dollars of Steem (I think).