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RE: A Modest Proposal: My Thoughts on Budget Proposals

in #steem6 years ago

I have learned a little more about the way hard forks and consensus work in Steem, and the more I learn, the less convinced I am that @jerrybanfield's approach will bring the results that we are looking for.
If there is strong super for budget proisals, it would work better to build an SMT that coordinates it. People in support of proposals can buy the SMT to gain voting power on proposals and the initial round can be funded using the Steem raised in the ICO. It could have a fixed post-ico creation rate to generate subsequent budget. Then if all goes well we could get whales and top 20 witnesses to commit supporting that market to keep allocating Steem to budget proposals.
All the voting mechanisms, accounting schedules, and monitoring controls needed can be built into the SMT protocol without a hard fork in the blockchain.

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@josephsavage - WHAT HE JUST SAID!! (You)

That makes a lot of sense even though I don't understand all of the terminology as it would be applied but I do believe I get the just of it..

I dunno - it's not that I do like the guy (Jerry) especially since he's the reason I found Steemit - but - something just smelt fishy from his post like it wasn't genuine and more of a salesman post -

If it makes sense for STEEMIT - nobody should have to "sell" an idea - there are too many great minds on Steemit that know if something will ultimately be fit the platform

Thanks for explaining to me more about the SMT'S

CHEERS

Thanks for your supportive comments. This post actually gained quite some support. I haven't seen much discussion of the @jerrybanfield proposal in my feed, though. Maybe I'm following the wrong people?

I think I need to do a follow-up post this weekend if I can make time for it and explain the SMT idea in more depth. Maybe I will figure out @utopian.io finally to give the proposal a little more traction.

Anytime - I haven't seen anything about @jerrybanfield 's proposal either in my feed - knowing him he probably had promoted the post on FB, YouTube, Google Ads etc - Lol

And YES - if you have the time definitely try to explain the SMT idea further - I will certainly do my best to help promote it

Utopian seems really promising and now is certainly the time to get it on there with it's massive initial popularity :)

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