Experimenting with PALnet - First Impressions
View this post on Hive: Experimenting with PALnet - First Impressions
Since the Steem blockchain became a centralized, top-down dominated place, where control and censorship thrive, I have decided to move my content. Don't worry, though, all my posts and up and doing well on the decentralized Hive blockchain. Come and check it out!
I'm surprised you didn't mention the miners. I thought about jumping in to have the chance at long-term passive token generation, but feel like I'd need many of them to have a good shot at it. Either way, I'm loving what the folks behind Palnet are trying to do.
Oh, certainly, there is mining. That's actually one thing I completely ignored, because I assumed (never a good idea) that I don't have the necessary infrastructure for that. But yeah, you got me there, I haven't even looked into it.
Hi there! I actually found your post through the PALnet promoted tab. In this case, promoting a post with PAL isn't actually buying upvotes... it's burning those tokens (taking them out of circulation by sending them to null to help reduce supply) and then your post is shown in a special tab, as well as interleaved in other tabs. :)
We do have the
@minnowsupportaccount still functioning, and it is a bit closer to "buying votes," but still with an important spin on it: it has NO hefty chunk of PAL staked, so it will not actually move you up in the PALnet trending at all, and it won't give you any PAL rewards. We wanted to keep her helping support steem posts with a little updoot, but also not have her interfering with the more natural curated trending that is emerging on PALnet. She's also another way to help us distribute and reduce PAL supply, since she burns her own portion of the incoming tokens, and divides everything else between her SP delegators.Thanks for taking the time to check it out and write your thoughts!
Wow, thanks for the informative reply. Also, it's nice to see that I understood things well, mostly. Appreciate clearing up the question regarding promoted posts. And yes, since I wrote my second post yesterday, this first one has received more than enough PAL to make the 5 PAL worth the investment.
Dear @crimsonclad, @stortebeker
Are those tokens really burned? Seriously? I'm not actually sure how does it work with promoting posts on Steemit.
And one more question: is "PALnet promoted tab" any different from Steemit promoted tab?
Yours
Piotr
Yes~ the promoted tab that you are asking about does indeed burn tokens; PALnet's promotion burns the PAL tokens and not only displays promoted posts on the tab, but interleaves them into other feeds, so the promotion feature is about more about getting seen than it is the return. On Steem front ends, the promotion also burns, but there's little to no use of it these days for a pretty logical reason... why would I burn the Steem to get seen on that tab, when instead I can send the Steem to a bid bot and then actually try to earn it back on the post via the bot vote? Getting seen a lot of the time is a bit more secondary, but because of trails and frontrunners bid bot voted posts may even hit hot or trending as a bonus. It's completely changed the community usage of the system, for better or for worse, because when you look at it that way, it makes sense.
The MinnowSupport community voting account automatically sends a portion of the PAL tokens sent to her to null, and distributes the rest to her delegators. This was specifically done to help a) reduce the supply of PAL, and b) to help distribute the supply of PAL, while c) helping people build Steem without a direct "ROI" gambling style promise. We are hoping to shape the features on PALnet to work in similar ways to Steem, but to help them achieve a different set of results through a different community focus.