GOTO 20, quick-fast.
Putting some thoughts to pixels.
Field Tested
Some folks said HF20 should have been tested for a longer period. Witnesses are be better equipped to judge that statement, nevertheless here's my two cents:
If the testing methodology was a bit flawed to begin with, delaying further would not produce better results. Pushing HF20 into release revealed critical issues and focused the community on finding solutions.
Red Ocean
The times when the cryptosphere was a Blue Ocean, a place where one could thrive by simply floating along with the current, have long passed.
Now the place is crowded and the competition is fierce.
The institutional investors are already here, ready to speculate and manipulate.
HF20 is the strong backbone that STEEM needs to survive in this environment. STEEM's natural transaction speed advantage and established community are nice to have, but they are not permanent competitive advantages if STEEM stops evolving.
@eccles, (CC BY-SA 3.0)
Market Solution
It's unfortunate that HF20 launched without an in-built market for Resource Credits -- the initial guesstimates of RC values needed adjustment, partially addressed by the patch. But without a transparent RC market the current values, reasonable though they may be, are just another set of guesstimates. The closest solution we have right now seems to be the Minnowbooster SP lease market Full Disclosure: I've not used or tested any of MB's services as of this writing.
Here I'd like to note that my own lack of RCs is a result of my meagre investment and I'm fully cognizant of that fact -- this is not a complaint, rather a suggestion towards further improving the platform's sustainability.
Any comments, corrections and\or complaints on issues mentioned are welcome.
P.S.
I would have liked to add something on the progress or state of SMT's, considering the shift in STEEM's focus, but I've barely began digging into that topic.
Hello eccles!
I'm here to inform you that I've just delegated 10 SP for you because I'd like to see you posting more and get a bit stronger here in Steemit. :)
This is just for 1 or 2 weeks and if you for some reason think that you don't need or want this, say so and I'll take my delegation back.
If you have someone else in mind who could need 10 SP, please tell me.
Why did I do this? Because I wanted to. :)
https://steemit.com/payitforward/@insaneworks/pay-it-forward-small-sp-delegation-here
Thank you, I appreciate the trust that you chose to put in me. Lately I've been using the bulk of my RCs to post a couple comments every day, because that's something I honestly enjoy, but also because some of the ideas for my personal posts are not fully fleshed out.
Perhaps I've neglected my own blog a bit too much. I'll fish out one of the potential ideas I've written down and push it to digital paper in the next couple days.
Once again, thank you insaneworks.
You are welcome!
I think commenting other peoples posts is the best way to grow here. But of course posting in ones own blog is important too. If not every day, at least once a week. In my opinion.
This is also a good thing for me because this forces me to comment more, not just upvote. :)
hi @eccles
Thank you for sending me link to your post.
To tell you the truth I don't really know what do you mean. Main purpose of HF20 seem to be to reduce amount of spam. Is this really that important and shall we consider it a backbone? Could you please let me know what do you mean?
enjoy your weekend buddy
Yours, Piotr
Hello again @crypto.piotr
From what I've gathered here an there:
HF20's purpose more than the reduction of spam, that's just a by-product of the new system -- the system designed to ensure STEEM's sustainability by formalizing the price of every interaction with the blockchain (with the exception of viewing the chain itself, that would be weaving into quantum physics and an interesting idea but currently irrelevant, I'm getting distracted sorry). Without this change a future flood of SMT's could clog up the blockchain worse than the spammers.
We've essentially moved to a sort-of-"Gas" system, like the one Etherium has, with different balancing mechanics in the form of lending (free RC from witnesses and SP delegation).
Thank you for being so responsive @eccles
Appreciate, Piotr