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RE: Ned Scott and @theoretical of Steemit Explore Oracles on Steem
Possible Pros:
1P1V could be useful, If and ONLY if it's coupled with other weighting mechanism like :
- proper Rep based on Curation and Talent to give more weigth in vote (eg. Seniority, Curation Skills, etc)
- some perhaps inverse partial diminishing x/n^2 weighted for bigger investor to at least benefit as patrons
- a delegation of patron vest of an SMT to communities:
- 1 Token to 100 Token = 1 vote, >100 1 vote + an inverse log diminishing benefit.
- say someone has 1million coin of a SMT, but he delegates to 10,000 worthy curators, so that 10K Curators can make an impact that is 10,000% more than that 1 whale with 1 million token due to his/her generostiy.
Possible Cons:
some initial questions, will future SMT be vested like Steem?
- then what incentives would be given for SMT to be vested?
and if this feature is say back-ported to Steem to enhance "verified" accounts won't this lead to:
- people mass powering down Steem
- possible instability of future Witnesses
@abh12345, @kevinwong, .... come see this.
have more to add...place holder for later:
will there be some limit to exposure, and some individual control to privacy of each person's Oracle data?
i think it's logical that if we can get about 100 SMT going, we can easily see Steem >$20, but how would the dynamics of Steem's 9% vest work....will we digress into a masternode like behavior like SMART (earning big %) or less as more and more weigth is place on bots.
how will this affect communities, hive-mind on HF20, implications?
Seems like you've got some ideas for designing great SMTs enhanced by Oracles. If you're right then that would be a very valuable coin to create when the protocol launches :)